Exam 1: Practicing Entrepreneurship

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In the Entrepreneurship Method,______ requires thinking about and analyzing existing information.

(Multiple Choice)
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Which social entrepreneur and Nobel Prize Winner said,"All human beings are entrepreneurs.When we were in the caves,we were all self-employed…finding our food,feeding ourselves"?

(Multiple Choice)
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Why is the 10-step process not enough for entrepreneurial ventures?

(Multiple Choice)
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Social entrepreneurship is defined as the process of innovating new social media business opportunities.

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

(True/False)
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Social entrepreneurship is a term used only to describe not-for-profit ventures.

(True/False)
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Paulina bought a small print shop and is very successful,but because she purchased an existing business,she is not considered an entrepreneur.

(True/False)
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Analyze the benefit corporation (B-Corp)and describe its purpose and role for entrepreneurs.

(Essay)
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What was violinist Nathan Milstein concerned about with deliberate practice?

(Multiple Choice)
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Robert has a business that he wants to pass down to others in his family to run.Robert has ______.

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

(Multiple Choice)
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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.

(True/False)
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Discuss social entrepreneurship and describe the differences between social entrepreneurial ventures and nonprofit organizations.

(Essay)
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Entrepreneurs who have engaged in years of deliberate practice tend to have ______.

(Multiple Choice)
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Compare and contrast three truths about entrepreneurship and your own experience with entrepreneurs.

(Essay)
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Successful entrepreneurs tend to follow which approach to collaboration?

(Multiple Choice)
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Approximately 70% of family businesses fail or are sold before the second generation reaches a position to take over.

(True/False)
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The nonprofit "1001 Fountains for Tomorrow," whose goal is to provide safe drinking water for small rural villages in Cambodia,is an example of ______.

(Multiple Choice)
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Approaching entrepreneurship as a ______ caters to its unpredictable and uncertain nature.

(Multiple Choice)
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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?

(Multiple Choice)
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