Question 1

Research has proven that successful entrepreneurs are planners and most insist on having a formal business plan in place before launching a new venture.

Accepted Answer

A) True 
 B)False

Question 2

Which of the following is a truth about entrepreneurship?

Accepted Answer

A) Entrepreneurship is not reserved for startups. 
B) Entrepreneurship cannot be taught. 
C) Entrepreneurs compete more than they collaborate. 
D) Entrepreneurs have a special set of personality traits. 
A) Entrepreneurship is not reserved for startups. 
B) Entrepreneurship cannot be taught. 
C) Entrepreneurs compete more than they collaborate. 
D) Entrepreneurs have a special set of personality traits.

Question 3

Which of the following is true about effectual entrepreneurs?

Accepted Answer

A) They focus on creating a future rather than predicting it. 
B) They find markets rather than make them. 
C) They do not accept failure. 
D) They focus on a single reliable stakeholder. 
A) They focus on creating a future rather than predicting it. 
B) They find markets rather than make them. 
C) They do not accept failure. 
D) They focus on a single reliable stakeholder.

Question 4

Tony is a manager at a company that builds solar panels.In his position,he used the feedback from his team members as the basis of a plan for the company to start installing the solar panels in order to enhance the company's competitive position and profitability.Tony is an example of a(n)______.

Accepted Answer

A) operational entrepreneur 
B) marketing professional 
C) corporate entrepreneur 
D) strategist 
A) operational entrepreneur 
B) marketing professional 
C) corporate entrepreneur 
D) strategist

Question 5

Successful entrepreneurs have a tendency to collaborate with competitors.

Accepted Answer

A) True 
 B)False

Question 6

Corporate entrepreneurship and intrapreneurship are different processes.

Accepted Answer

A) True 
 B)False

Question 7

Your professor gives you a project with little direction or planning.This is an example of ______.

Accepted Answer

A) managerial thinking 
B) entrepreneurial thinking 
C) the effectuation theory 
D) the entrepreneur inside 
A) managerial thinking 
B) entrepreneurial thinking 
C) the effectuation theory 
D) the entrepreneur inside

Question 8

Research revealed what percentage of Inc.500 founders wrote formal business plans prior to launching their companies?

Accepted Answer

A) more than 90% 
B) more than 75% 
C) less than 50% 
D) less than 10% 
A) more than 90% 
B) more than 75% 
C) less than 50% 
D) less than 10%

Question 9

B-Corp certification recognizes organizations that achieve five or more years of consistent profitable growth.

Accepted Answer

A) True 
 B)False

Question 10

Family-owned businesses account for ______ of new jobs in the U.S.economy.

Accepted Answer

A) 50% 
B) 13% 
C) 25% 
D) 78% 
A) 50% 
B) 13% 
C) 25% 
D) 78%

Question 11

Managerial thinking works best in times of certainty.

Accepted Answer

A) True 
 B)False

Question 12

According to the text,why would some organizations not be enthusiastic about employees acting entrepreneurially inside a company?

Accepted Answer

A) fear that workers will recruit other employees to prioritize their entrepreneurial efforts over their essential job duties 
B) fear that trade secrets will be accidentally released to the public 
C) fear that they will leave the company and start their own business 
D) fear that they will not seek approval from senior managers before starting work on their entrepreneurial initiatives 
A) fear that workers will recruit other employees to prioritize their entrepreneurial efforts over their essential job duties 
B) fear that trade secrets will be accidentally released to the public 
C) fear that they will leave the company and start their own business 
D) fear that they will not seek approval from senior managers before starting work on their entrepreneurial initiatives

Question 13

A benefit corporation (or B-Corp)is an organization certified by the nonprofit B Lab to ensure strict standards of social and environmental performance,accountability,and transparency are met.According to the book,which of the following statements is true?

Accepted Answer

A) Large nonprofits are leaders in this movement. 
B) To host a telethon to raise money,an organization must be a B-Corp. 
C) The certification protects a company from lawsuits from stakeholders. 
D) All of the answers are correct. 
A) Large nonprofits are leaders in this movement. 
B) To host a telethon to raise money,an organization must be a B-Corp. 
C) The certification protects a company from lawsuits from stakeholders. 
D) All of the answers are correct.

Question 14

By definition,a ______ is a systematic way of approaching a task.

Accepted Answer

A) process 
B) method 
C) straight-line 
D) collaborative 
A) process 
B) method 
C) straight-line 
D) collaborative

Question 15

Approaching entrepreneurship as a ______ caters to its unpredictable and uncertain nature.

Accepted Answer

A) management challenge 
B) startup 
C) process 
D) method 
A) management challenge 
B) startup 
C) process 
D) method

Question 16

Chef Jiro has used ______ to master the art of making sushi.

Accepted Answer

A) deliberate practice 
B) effectuation 
C) lifestyle practice 
D) mindshift 
A) deliberate practice 
B) effectuation 
C) lifestyle practice 
D) mindshift

Question 17

Rafael is struggling with next steps for his startup.He asks his friends for feedback on his idea.What part of the entrepreneurship method is he using?

Accepted Answer

A) collaboration 
B) phases of learning 
C) planning 
D) creating 
A) collaboration 
B) phases of learning 
C) planning 
D) creating

Question 18

The authors define entrepreneurship as ______.

Accepted Answer

A) a way of thinking,acting,and being that combines the ability to find or create new opportunities with the courage to act on them 
B) starting a small business by finding investors and launching a product 
C) developing a new market by creating a product that does not currently exist 
D) a mindset that compels people to start multiple ventures throughout a lifetime 
A) a way of thinking,acting,and being that combines the ability to find or create new opportunities with the courage to act on them 
B) starting a small business by finding investors and launching a product 
C) developing a new market by creating a product that does not currently exist 
D) a mindset that compels people to start multiple ventures throughout a lifetime

Question 19

Your professor has asked you to implement the entrepreneurial approach on your final project without much further instruction.What do you do first?

Accepted Answer

A) Look at what means you have to start the process. 
B) Ask your classmates for ideas. 
C) Ask your professor for help. 
D) Make the project a priority,even if it means skipping class. 
A) Look at what means you have to start the process. 
B) Ask your classmates for ideas. 
C) Ask your professor for help. 
D) Make the project a priority,even if it means skipping class.

Question 20

Discuss social entrepreneurship and describe the differences between social entrepreneurial ventures and nonprofit organizations.

Accepted Answer

There has been some debate as to how to

Research has proven that successful entrepreneurs are planners and most insist on having a formal business plan in place before launching a new venture.

Which of the following is a truth about entrepreneurship?

Which of the following is true about effectual entrepreneurs?

Tony is a manager at a company that builds solar panels.In his position,he used the feedback from his team members as the basis of a plan for the company to start installing the solar panels in order to enhance the company's competitive position and profitability.Tony is an example of a(n)______.

Successful entrepreneurs have a tendency to collaborate with competitors.

Corporate entrepreneurship and intrapreneurship are different processes.

Your professor gives you a project with little direction or planning.This is an example of ______.

Research revealed what percentage of Inc.500 founders wrote formal business plans prior to launching their companies?

B-Corp certification recognizes organizations that achieve five or more years of consistent profitable growth.

Family-owned businesses account for ______ of new jobs in the U.S.economy.

Managerial thinking works best in times of certainty.

According to the text,why would some organizations not be enthusiastic about employees acting entrepreneurially inside a company?

A benefit corporation (or B-Corp)is an organization certified by the nonprofit B Lab to ensure strict standards of social and environmental performance,accountability,and transparency are met.According to the book,which of the following statements is true?

By definition,a ______ is a systematic way of approaching a task.

Approaching entrepreneurship as a ______ caters to its unpredictable and uncertain nature.

Chef Jiro has used ______ to master the art of making sushi.

Rafael is struggling with next steps for his startup.He asks his friends for feedback on his idea.What part of the entrepreneurship method is he using?

The authors define entrepreneurship as ______.

Your professor has asked you to implement the entrepreneurial approach on your final project without much further instruction.What do you do first?

Discuss social entrepreneurship and describe the differences between social entrepreneurial ventures and nonprofit organizations.

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

Research has proven that successful entrepreneurs are planners and most insist on having a formal business plan in place before launching a new venture.

Which of the following is a truth about entrepreneurship?

Which of the following is true about effectual entrepreneurs?

Tony is a manager at a company that builds solar panels.In his position,he used the feedback from his team members as the basis of a plan for the company to start installing the solar panels in order to enhance the company's competitive position and profitability.Tony is an example of a(n)______.

Successful entrepreneurs have a tendency to collaborate with competitors.

Corporate entrepreneurship and intrapreneurship are different processes.

Your professor gives you a project with little direction or planning.This is an example of ______.

Research revealed what percentage of Inc.500 founders wrote formal business plans prior to launching their companies?

B-Corp certification recognizes organizations that achieve five or more years of consistent profitable growth.

Family-owned businesses account for ______ of new jobs in the U.S.economy.

Managerial thinking works best in times of certainty.

According to the text,why would some organizations not be enthusiastic about employees acting entrepreneurially inside a company?

A benefit corporation (or B-Corp)is an organization certified by the nonprofit B Lab to ensure strict standards of social and environmental performance,accountability,and transparency are met.According to the book,which of the following statements is true?

By definition,a ______ is a systematic way of approaching a task.

Approaching entrepreneurship as a ______ caters to its unpredictable and uncertain nature.

Chef Jiro has used ______ to master the art of making sushi.

Rafael is struggling with next steps for his startup.He asks his friends for feedback on his idea.What part of the entrepreneurship method is he using?

The authors define entrepreneurship as ______.

Your professor has asked you to implement the entrepreneurial approach on your final project without much further instruction.What do you do first?

Discuss social entrepreneurship and describe the differences between social entrepreneurial ventures and nonprofit organizations.

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