Exam 6: Starting Your Own Business: the Entrepreneurship Alternative

Victoria is an employee at Pegasys Inc. ,a consulting firm.She uses the resources of the firm to expand and diversify into related fields.Victoria is most likely to be classified as a(n)_____.

Internal locus of control involves the personal belief that one controls his or her own destiny.

In the past,most entrepreneurs started their ventures without creating formal business plans.

As a rule,entrepreneurs believe in their ability to succeed.

Entrepreneurs possess all of the following traits EXCEPT _____.

Countries whose economies are driven by innovation,like Italy and Japan,have lower established business ownership rates.

How does Ralph Braun of BraunAbility exemplify the entrepreneurial characteristic of internal locus of control?

Entrepreneurs enjoy guaranteed job security because no one can fire them.

In the context of financing,identify a recommendation made by the Small Business Administration (SBA)to entrepreneurs.

Which of the following statements best describes how entrepreneurs view failure?

The business start-up PK Clean,launched by Priyanka Bakaya in Salt Lake,Utah,can be identified as an example of:

Nina started her own business because she was tired of worrying about corporate downsizing despite her highly positive annual reviews.This is a common motivation for becoming an entrepreneur.

Complete the following using the terms listed. -_____ is the process of promoting innovation within the structure of an existing organization.

Complete the following using the terms listed. -_____ enables entrepreneurs to take responsibility for their successes or failures.

Entrepreneurship is comparable to gambling.

Complete the following using the terms listed. -A(n)_____ is a form of intrapreneurship.

Identify a true statement about successful entrepreneurs.

All of the following are important characteristics of entrepreneurs EXCEPT:

Overseas,workers have yet to discover the benefits of entrepreneurship compared to employment by big firms.

Simone is opening a home health care business that she knows will do well in her community.She makes this assumption based on prior research.Although she must repay borrowed funds,Simone chooses _____ to maintain complete control over the business without having to answer to investors or partners.