Question 1

________ is a process of changing, experimenting, transforming, and revolutionizing.

Accepted Answer

A)  Developing 
B)  Research 
C)  Innovating 
D)  Inventing 
A)  Developing 
B)  Research 
C)  Innovating 
D)  Inventing

Question 2

Lucien has just received an offer from a major retailer wanting to carry his products. But Lucien doesn't have enough production capacity to keep up with their demand. A question common to entrepreneurs in his situation is "________"

Accepted Answer

A)  Will my board of directors be supportive of this opportunity? 
B)  Will my existing customers be hurt if I accept this offer? 
C)  What are my competitors doing? 
D)  Where can I get the money I need for expansion? 
A)  Will my board of directors be supportive of this opportunity? 
B)  Will my existing customers be hurt if I accept this offer? 
C)  What are my competitors doing? 
D)  Where can I get the money I need for expansion?

Question 3

Which one of the many personality traits of entrepreneurs appeared on two separate lists?

Accepted Answer

A)  abundance of self-confidence 
B)  high energy level 
C)  persistent problem solver 
D)  moderate risk taker 
A)  abundance of self-confidence 
B)  high energy level 
C)  persistent problem solver 
D)  moderate risk taker

Question 4

As a company grows, an informal, loose, and flexible atmosphere may not work well.

Accepted Answer

A) True 
 B)False

Question 5

If Camden wants his new business to be a good corporate citizen, he should ________.

Accepted Answer

A)  hire only union labor 
B)  minimize the risks his business takes 
C)  consider community goals in his business plan 
D)  observe all the local ordinances and employment laws 
A)  hire only union labor 
B)  minimize the risks his business takes 
C)  consider community goals in his business plan 
D)  observe all the local ordinances and employment laws

Question 6

Identify at least three sources or areas where entrepreneurs can find ideas. What should entrepreneurs look for as they explore these idea sources?

Accepted Answer

Some entrepreneurs find ideas within the

Question 7

The minimum number of partners in a general partnership is three: two general partners and at least one limited partner.

Accepted Answer

A) True 
 B)False

Question 8

Discuss three of the seven potential sources of opportunity for entrepreneurial ventures.

Accepted Answer

a. The unexpected. Ideas can be found in

Question 9

In 1938 Dr. Roy Plunkett discovered that a certain material became very slippery when frozen, and PTFE was invented. Under the brand Teflon, PTFE coatings were applied to a wide variety of items from spacecraft to frying pans. DuPont was able to capitalize on ________.

Accepted Answer

A)  the incongruous 
B)  the unexpected 
C)  new knowledge 
D)  process needs 
A)  the incongruous 
B)  the unexpected 
C)  new knowledge 
D)  process needs

Question 10

When the entrepreneur is ready to exit the business, s/he should personally determine the business value.

Accepted Answer

A) True 
 B)False

Question 11

Fully empowering employees means releasing budgetary control to them.

Accepted Answer

A) True 
 B)False

Question 12

Small businesses are the same as entrepreneurial ventures.

Accepted Answer

A) True 
 B)False

Question 13

What kind of questions should entrepreneurs ask before embarking on a new venture?

Accepted Answer

Questions about personal considerations

Question 14

Entrepreneurship's importance can be shown mostly in three geographic areas in the United States: the Northeast, the South, and the Southwest.

Accepted Answer

A) True 
 B)False

Question 15

To demonstrate social responsibility, entrepreneurs are encouraged to ________.

Accepted Answer

A)  consider community goals in their business plans 
B)  use recycled materials in their production processes 
C)  participate in community organizations such as Kiwanis and Rotary 
D)  sponsor youth sports teams 
A)  consider community goals in their business plans 
B)  use recycled materials in their production processes 
C)  participate in community organizations such as Kiwanis and Rotary 
D)  sponsor youth sports teams

Question 16

In a general partnership, all partners assume full responsibility for all debts of the business.

Accepted Answer

A) True 
 B)False

Question 17

By the time the new company has grown to the point that the founder can no longer make all the decisions, s/he is typically glad to hand off some of that responsibility.

Accepted Answer

A) True 
 B)False

Question 18

Exploring the entrepreneurial context includes scanning the economic, political/legal, social, and work environment.

Accepted Answer

A) True 
 B)False

Question 19

Corporations look for candidates who match job requirements; entrepreneurs look for candidates to fill skills gaps.

Accepted Answer

A) True 
 B)False

Question 20

Compare and contrast self-employment and entrepreneurship.

Accepted Answer

Self-employment refers to individuals wh

________ is a process of changing, experimenting, transforming, and revolutionizing.

Lucien has just received an offer from a major retailer wanting to carry his products. But Lucien doesn't have enough production capacity to keep up with their demand. A question common to entrepreneurs in his situation is "________"

Which one of the many personality traits of entrepreneurs appeared on two separate lists?

As a company grows, an informal, loose, and flexible atmosphere may not work well.

If Camden wants his new business to be a good corporate citizen, he should ________.

Identify at least three sources or areas where entrepreneurs can find ideas. What should entrepreneurs look for as they explore these idea sources?

The minimum number of partners in a general partnership is three: two general partners and at least one limited partner.

Discuss three of the seven potential sources of opportunity for entrepreneurial ventures.

In 1938 Dr. Roy Plunkett discovered that a certain material became very slippery when frozen, and PTFE was invented. Under the brand Teflon, PTFE coatings were applied to a wide variety of items from spacecraft to frying pans. DuPont was able to capitalize on ________.

When the entrepreneur is ready to exit the business, s/he should personally determine the business value.

Fully empowering employees means releasing budgetary control to them.

Small businesses are the same as entrepreneurial ventures.

What kind of questions should entrepreneurs ask before embarking on a new venture?

Entrepreneurship's importance can be shown mostly in three geographic areas in the United States: the Northeast, the South, and the Southwest.

To demonstrate social responsibility, entrepreneurs are encouraged to ________.

In a general partnership, all partners assume full responsibility for all debts of the business.

By the time the new company has grown to the point that the founder can no longer make all the decisions, s/he is typically glad to hand off some of that responsibility.

Exploring the entrepreneurial context includes scanning the economic, political/legal, social, and work environment.

Corporations look for candidates who match job requirements; entrepreneurs look for candidates to fill skills gaps.

Compare and contrast self-employment and entrepreneurship.

Managers and You in the Workplace

Making Decisions

Managing the External Environment and the Organizations Culture

Managing in a Global Environment

Managing Diversity

Managing Social Responsibility and Ethics

Managing Change and Innovation

Planning Work Activities

Managing Strategy

Designing Organizational Structure

Managing Human Resources

Creating and Managing Teams

Managing Communication

Understanding and Managing Individual Behavior

Motivating Employees

Being an Effective Leader

Monitoring and Controlling

Filters

Exam 10: Entrepreneurial Ventures

________ is a process of changing, experimenting, transforming, and revolutionizing.

Lucien has just received an offer from a major retailer wanting to carry his products. But Lucien doesn't have enough production capacity to keep up with their demand. A question common to entrepreneurs in his situation is "________"

Which one of the many personality traits of entrepreneurs appeared on two separate lists?

As a company grows, an informal, loose, and flexible atmosphere may not work well.

If Camden wants his new business to be a good corporate citizen, he should ________.

Identify at least three sources or areas where entrepreneurs can find ideas. What should entrepreneurs look for as they explore these idea sources?

The minimum number of partners in a general partnership is three: two general partners and at least one limited partner.

Discuss three of the seven potential sources of opportunity for entrepreneurial ventures.

In 1938 Dr. Roy Plunkett discovered that a certain material became very slippery when frozen, and PTFE was invented. Under the brand Teflon, PTFE coatings were applied to a wide variety of items from spacecraft to frying pans. DuPont was able to capitalize on ________.

When the entrepreneur is ready to exit the business, s/he should personally determine the business value.

Fully empowering employees means releasing budgetary control to them.

Small businesses are the same as entrepreneurial ventures.

What kind of questions should entrepreneurs ask before embarking on a new venture?

Entrepreneurship's importance can be shown mostly in three geographic areas in the United States: the Northeast, the South, and the Southwest.

To demonstrate social responsibility, entrepreneurs are encouraged to ________.

In a general partnership, all partners assume full responsibility for all debts of the business.

By the time the new company has grown to the point that the founder can no longer make all the decisions, s/he is typically glad to hand off some of that responsibility.

Exploring the entrepreneurial context includes scanning the economic, political/legal, social, and work environment.

Corporations look for candidates who match job requirements; entrepreneurs look for candidates to fill skills gaps.

Compare and contrast self-employment and entrepreneurship.

Managers and You in the Workplace

Making Decisions

Managing the External Environment and the Organizations Culture

Managing in a Global Environment

Managing Diversity

Managing Social Responsibility and Ethics

Managing Change and Innovation

Planning Work Activities

Managing Strategy

Designing Organizational Structure

Managing Human Resources

Creating and Managing Teams

Managing Communication

Understanding and Managing Individual Behavior

Motivating Employees

Being an Effective Leader

Monitoring and Controlling

Filters