Question 1

Bill Gates and Mark Zuckerberg are shining examples of overnight success.

Accepted Answer

A) True 
 B)False

Question 2

Gina wants to develop an app to match animal shelters to adopters.She has crafted the following statement: "I am developing this app so that more pets will be adopted." What component of the practice of entrepreneurship is she implementing?

Accepted Answer

A) Describe your idea today. 
B) Identify your desired impact on the world. 
C) Start with means at hand. 
D) Take small action. 
A) Describe your idea today. 
B) Identify your desired impact on the world. 
C) Start with means at hand. 
D) Take small action.

Question 3

The media often cover the meteoric rise of entrepreneurs such as Bill Gates (Microsoft)and Travis Kalanick (Uber).According to the text,these stories ______.

Accepted Answer

A) are inspirational,but do little to represent the reality of entrepreneurship 
B) are highly relatable 
C) have not captured the public imagination 
D) are accurate depictions of the reality of entrepreneurship 
A) are inspirational,but do little to represent the reality of entrepreneurship 
B) are highly relatable 
C) have not captured the public imagination 
D) are accurate depictions of the reality of entrepreneurship

Question 4

Entrepreneurship can provide us with skills we can apply to other aspects of our lives.

Accepted Answer

A) True 
 B)False

Question 5

What is the survival rate of family businesses transitioning from the first to the second generation?

Accepted Answer

A) less than 30% 
B) 40% 
C) 50% 
D) more than 75% 
A) less than 30% 
B) 40% 
C) 50% 
D) more than 75%

Question 6

What is the process of creating new products,ventures,processes,or renewal within large organizations?

Accepted Answer

A) entrepreneurs inside 
B) tech entrepreneurship 
C) social entrepreneurship 
D) intrapreneurship 
A) entrepreneurs inside 
B) tech entrepreneurship 
C) social entrepreneurship 
D) intrapreneurship

Question 7

Michael is a franchise restaurant owner.Which of the following best describes his franchising costs?

Accepted Answer

A) a franchise fee to start,a monthly royalty as a percentage of sales,and other operational costs 
B) a royalty to the franchisor,calculated as a percentage of net income plus other operational costs 
C) the same as any other restaurant owner 
D) a franchise fee to start,plus other operational costs 
A) a franchise fee to start,a monthly royalty as a percentage of sales,and other operational costs 
B) a royalty to the franchisor,calculated as a percentage of net income plus other operational costs 
C) the same as any other restaurant owner 
D) a franchise fee to start,plus other operational costs

Question 8

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

Accepted Answer

Risk is very personal and relative.Thing

Question 9

Why is the 10-step process not enough for entrepreneurial ventures?

Accepted Answer

A) It relies too much on past history to predict the future. 
B) It only works for small businesses. 
C) It's too fluid. 
D) It's too complex. 
A) It relies too much on past history to predict the future. 
B) It only works for small businesses. 
C) It's too fluid. 
D) It's too complex.

Question 10

ICHOR Restaurant Group was started by Brian Bailey and Tim Hug in 2006 and has since opened three successful restaurant concepts--Old Carolina BBQ,Smoke: The Burger Joint,and Baja West Coast Kitchen--with a dozen corporate-owned locations.They have begun to allow external entrepreneurs to purchase a license to operate their own location(s).Entrepreneurs purchasing such a license are engaging in ______.

Accepted Answer

A) corporate entrepreneurship 
B) franchising 
C) entrepreneurship inside 
D) social entrepreneurship 
A) corporate entrepreneurship 
B) franchising 
C) entrepreneurship inside 
D) social entrepreneurship

Question 11

The process approach to entrepreneurship emphasizes ______.

Accepted Answer

A) reaction 
B) innovation 
C) fluidity 
D) prediction 
A) reaction 
B) innovation 
C) fluidity 
D) prediction

Question 12

When studying medical students and the way in which they learn clinical skills,researchers found the students who used deliberate practice were ______.

Accepted Answer

A) learning how to learn 
B) too focused to really improve their skills 
C) missing some key "big picture" aspects of their training 
D) becoming more knowledgeable but less proficient 
A) learning how to learn 
B) too focused to really improve their skills 
C) missing some key "big picture" aspects of their training 
D) becoming more knowledgeable but less proficient

Question 13

Franchising can be a beneficial way for entrepreneurs to get a head start in launching their own businesses since they do not have to pay the franchisor royalties after buying the franchise.

Accepted Answer

A) True 
 B)False

Question 14

Sam is tired of seeing injustice and mistreatment of children in inner cities and has an innovative idea to help them develop self-esteem.Sam is an example of a ______ entrepreneur.

Accepted Answer

A) social 
B) corporate 
C) nascent 
D) benefit 
A) social 
B) corporate 
C) nascent 
D) benefit

Question 15

Compare entrepreneurship with startup.

Accepted Answer

The term startup came into vogue during

Question 16

College courses on entrepreneurship are standard parts of the curriculum.

Accepted Answer

A) True 
 B)False

Question 17

Social entrepreneurship is a term used only to describe not-for-profit ventures.

Accepted Answer

A) True 
 B)False

Question 18

Bill is the paternal head of his family as well as 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 focus on ______.

Accepted Answer

A) selling the company 
B) passing on an entrepreneurial mindset to his family members 
C) writing a detailed business plan 
D) establishing a trust to administer the business 
A) selling the company 
B) passing on an entrepreneurial mindset to his family members 
C) writing a detailed business plan 
D) establishing a trust to administer the business

Question 19

Corporate entrepreneurs work within only large organizations whereas entrepreneurs inside can exist in any type of organization,big or small.

Accepted Answer

A) True 
 B)False

Question 20

As an entrepreneur,if you have to choose between planning an action and taking an action,you should opt for taking the action.

Accepted Answer

A) True 
 B)False

Bill Gates and Mark Zuckerberg are shining examples of overnight success.

Gina wants to develop an app to match animal shelters to adopters.She has crafted the following statement: "I am developing this app so that more pets will be adopted." What component of the practice of entrepreneurship is she implementing?

The media often cover the meteoric rise of entrepreneurs such as Bill Gates (Microsoft)and Travis Kalanick (Uber).According to the text,these stories ______.

Entrepreneurship can provide us with skills we can apply to other aspects of our lives.

What is the survival rate of family businesses transitioning from the first to the second generation?

What is the process of creating new products,ventures,processes,or renewal within large organizations?

Michael is a franchise restaurant owner.Which of the following best describes his franchising costs?

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

Why is the 10-step process not enough for entrepreneurial ventures?

The process approach to entrepreneurship emphasizes ______.

When studying medical students and the way in which they learn clinical skills,researchers found the students who used deliberate practice were ______.

Franchising can be a beneficial way for entrepreneurs to get a head start in launching their own businesses since they do not have to pay the franchisor royalties after buying the franchise.

Sam is tired of seeing injustice and mistreatment of children in inner cities and has an innovative idea to help them develop self-esteem.Sam is an example of a ______ entrepreneur.

Compare entrepreneurship with startup.

College courses on entrepreneurship are standard parts of the curriculum.

Social entrepreneurship is a term used only to describe not-for-profit ventures.

Bill is the paternal head of his family as well as 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 focus on ______.

Corporate entrepreneurs work within only large organizations whereas entrepreneurs inside can exist in any type of organization,big or small.

As an entrepreneur,if you have to choose between planning an action and taking an action,you should opt for taking the action.

Activating an Entrepreneurial Mindset

Creating and Recognizing New Opportunities

Using Design Thinking

Building Business Models

Developing Your Customers

Testing and Experimenting With New Ideas

Developing Networks and Building Teams

Creating Revenue Models

Planning for Entrepreneurs

Anticipating Failure

Bootstrapping and Crowdfunding for Resources

Financing for Startups

Navigating Legal and Ip Issues

Engaging Customers Through Marketing

Supporting Social Entrepreneurship

Financial Statements and Projections for Startups

The Pitch Deck

Filters

Exam 1: Practicing Entrepreneurship

Bill Gates and Mark Zuckerberg are shining examples of overnight success.

Gina wants to develop an app to match animal shelters to adopters.She has crafted the following statement: "I am developing this app so that more pets will be adopted." What component of the practice of entrepreneurship is she implementing?

The media often cover the meteoric rise of entrepreneurs such as Bill Gates (Microsoft)and Travis Kalanick (Uber).According to the text,these stories ______.

Entrepreneurship can provide us with skills we can apply to other aspects of our lives.

What is the survival rate of family businesses transitioning from the first to the second generation?

What is the process of creating new products,ventures,processes,or renewal within large organizations?

Michael is a franchise restaurant owner.Which of the following best describes his franchising costs?

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

Why is the 10-step process not enough for entrepreneurial ventures?

The process approach to entrepreneurship emphasizes ______.

When studying medical students and the way in which they learn clinical skills,researchers found the students who used deliberate practice were ______.

Franchising can be a beneficial way for entrepreneurs to get a head start in launching their own businesses since they do not have to pay the franchisor royalties after buying the franchise.

Sam is tired of seeing injustice and mistreatment of children in inner cities and has an innovative idea to help them develop self-esteem.Sam is an example of a ______ entrepreneur.

Compare entrepreneurship with startup.

College courses on entrepreneurship are standard parts of the curriculum.

Social entrepreneurship is a term used only to describe not-for-profit ventures.

Bill is the paternal head of his family as well as 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 focus on ______.

Corporate entrepreneurs work within only large organizations whereas entrepreneurs inside can exist in any type of organization,big or small.

As an entrepreneur,if you have to choose between planning an action and taking an action,you should opt for taking the action.

Activating an Entrepreneurial Mindset

Creating and Recognizing New Opportunities

Using Design Thinking

Building Business Models

Developing Your Customers

Testing and Experimenting With New Ideas

Developing Networks and Building Teams

Creating Revenue Models

Planning for Entrepreneurs

Anticipating Failure

Bootstrapping and Crowdfunding for Resources

Financing for Startups

Navigating Legal and Ip Issues

Engaging Customers Through Marketing

Supporting Social Entrepreneurship

Financial Statements and Projections for Startups

The Pitch Deck

Filters