Question 1

Bill is the paternal head of his family and the family enterprise.He is concerned about the business and wants to ensure its survival for the long run.You, as a consultant, advise him to ______.

Accepted Answer

A) hire you as his advisor 
B) begin to pass on his and the family's mindsets and philosophies to the younger generation 
C) develop a business plan 
D) establish a trust for the business

Question 2

Entrepreneurship is for ______ if given the opportunity to practice.

Accepted Answer

A) everyone 
B) only men 
C) only the poor 
D) only the lucky

Question 3

Sam likes to think outside of the box.He has several ideas that he is developing into his new startup.Part of his philosophy is to create the world he wants to live in and this involves creating his markets and his opportunities.Sam is ______.

Accepted Answer

A) delusional 
B) socialistic 
C) an effectual entrepreneur 
D) an effective entrepreneur

Question 4

Analyze the importance of action and practice in entrepreneurship.

Accepted Answer

The answer of Analyze the importance of action and practice...

Question 5

By the ______, ______ had reached its height and a growing interest in information technology would set the scene for impending globalization.

Accepted Answer

A) 1970s; corporate entrepreneurship 
B) 1770s; the war 
C) 1990s; computer technology 
D) year 2000; entrepreneurship

Question 6

Tony in his corporate position as a manager had built the reputation as a team builder to create something of value to enhance the company's competitive position and profitability.Tony is an example of ______.

Accepted Answer

A) an entrepreneur 
B) a marketing professional 
C) a corporate entrepreneur 
D) a strategist

Question 7

Marilou was a student who had a special energy; she adapted to new conditions easily and took control of personal goals and ambitions.She ______.

Accepted Answer

A) is an example of being entrepreneurial which empowers to create opportunities and to reach goals 
B) was an honor student 
C) was a natural-born sales professional 
D) was out of the ordinary

Question 8

George, a new entrepreneur, was amazed that once he made the jump into his business, he was not alone but instead was part of a group that supported each other and collaborated for the greater good.

Accepted Answer

A) George's experience is common among entrepreneurs. 
B) George opened up too much to the group as they were very competitive. 
C) The group that George belonged to was unique. 
D) Entrepreneurs compete more than they collaborate.

Question 9

Risk cannot be averted by an entrepreneur's activity or attitude.

Accepted Answer

A) True 
 B)False

Question 10

Social entrepreneurship ______.

Accepted Answer

A) blends social media (LinkedIn, Facebook, Twitter, etc.) and traditional media (television, radio, newspaper, mail) 
B) is defined as a business that is supported by and supports social media 
C) is a global movement focusing on social problems while also providing an economic impact for the participants 
D) does business in the social sector (restaurants, bars, amusement parks)

Question 11

Tony in his corporate position as a manager had built the reputation as a team builder to create something of value to enhance the company's competitive position and profitability.The shared desire that Tony has with entrepreneurs is ______.

Accepted Answer

A) the desire to make money 
B) the desire to create something of value 
C) to own a process 
D) to make a difference

Question 12

Discuss the Act-Learn-Build model as it relates to risk-takers.

Accepted Answer

The answer of Discuss the Act-Learn-Build model as it relates...

Question 13

______ are people who start several businesses, sometimes at the same time or sometimes one after the other.

Accepted Answer

A) Social entrepreneurs 
B) Serial entrepreneurs 
C) High-risk entrepreneurs 
D) Low-risk entrepreneurs

Question 14

Describe family enterprise and apply the concept to your business concept.

Accepted Answer

The answer of Describe family enterprise and apply the concept...

Question 15

The gap of venture capital available for men as compared to women is 5 to 15% women to 85 to 95% men. The evidence from the 2014 Diana Project ______.

Accepted Answer

A) suggests that it is not the women entrepreneurs who need to adapt, but the venture capital model needs to be re-evaluated and updated to keep up with the changing landscape of women's entrepreneurship 
B) suggests that women-owned businesses are more risky than men-owned businesses 
C) indicates that the men are more interested in developing highly industrialized business while women are more interested in the social/selling business models 
D) supports the theory that a business really does not need a large amount of capital to be successful.

Question 16

A B-Corp is ______.

Accepted Answer

A) a benefit corporation that is certified by the nonprofit B Lab which ensures strict standards of social and environmental performance, accountability, and transparency are met 
B) another name for a business corporation that is in the pursuit of profit 
C) a benefits corporation that provides payroll and employee benefit services to other businesses 
D) the second level of corporations; A-Corps are the top 100 rated and ranked corporations and B-Corps are the next 500 in the ranking.

Question 17

The global experiment, Unreasonable at Sea, ______.

Accepted Answer

A) held intensive training programs where entrepreneurs were matched with mentors and leveraged their collective technology experience to solve some of the world's most formidable challenges 
B) was an experiment putting a group of entrepreneurs on a ship and had them navigate it as a team to sail back to their home port 
C) is focused on ocean-based training for entrepreneurs at sea (harnessing salt water, fishing as a renewable resource) 
D) is focused on coming up with creative or unreasonable solutions to the world's problems with the oceans (oil tankers leaking, whales beaching, etc.)

Question 18

As an example of corporate entrepreneurship, a division of AT&T used a television show text-messaging voting system to help raise money for the Hurricane Katrina victims.The television show was ______.

Accepted Answer

A) The Voice 
B) American Idol 
C) America's Got Talent 
D) So You Think You Can Dance

Question 19

According to Yunus, the professor of economics who started the Grameen Bank, the name Grameen means

Accepted Answer

A) to trust 
B) bank of the villages 
C) of the people, for the people 
D) small

Question 20

Susan has applied the act-learn-build philosophy to her startup.To her friends and family, she looks like a risk-taker believing in taking all or nothing.

Accepted Answer

A) This is a true image. 
B) This is not a true image; it just looks that way. 
C) Act-Learn-Build has nothing to do with risk. 
D) Entrepreneurs do believe in taking all or nothing.

Exam 1: Entrepreneurship: a Global Social Movement

Bill is the paternal head of his family and the family enterprise.He is concerned about the business and wants to ensure its survival for the long run.You, as a consultant, advise him to ______.