Question 1

Discuss Entrepreneurship as a field of business. What does it seek to understand?

Accepted Answer

Entrepreneurship,as a field of business,

Question 2

An incubator is

Accepted Answer

A)  the first product that is produced by a new company. 
B)  a place where an entrepreneur might get assistance and some protection while establishing a new business. 
C)  the same as a license to produce a product. 
D)  a law that restricts the growth of new businesses. 
E)  entrepreneurial cognition. 
A)  the first product that is produced by a new company. 
B)  a place where an entrepreneur might get assistance and some protection while establishing a new business. 
C)  the same as a license to produce a product. 
D)  a law that restricts the growth of new businesses. 
E)  entrepreneurial cognition.

Question 3

List and discuss each of the five major phases of the entrepreneurship process.

Accepted Answer

Recognition of an opportunity:The proces

Question 4

The macro level of analysis related to entrepreneurship includes

Accepted Answer

A)  the entrepreneur's skills. 
B)  the motives of the person for starting the business. 
C)  economic conditions. 
D)  the traits of the person starting the business. 
E)  the entrepreneur's knowledge about finance. 
A)  the entrepreneur's skills. 
B)  the motives of the person for starting the business. 
C)  economic conditions. 
D)  the traits of the person starting the business. 
E)  the entrepreneur's knowledge about finance.

Question 5

In attempting to understand the entrepreneurial process,the perspective that focuses on understanding the behavior and thoughts of people and groups in the business is known as

Accepted Answer

A)  economic forces. 
B)  technological forces. 
C)  environmental factors approach. 
D)  macro approach. 
E)  micro approach. 
A)  economic forces. 
B)  technological forces. 
C)  environmental factors approach. 
D)  macro approach. 
E)  micro approach.

Question 6

As best described in the text,entrepreneurship is said to be

Accepted Answer

A)  a process. 
B)  a commitment. 
C)  a chain of events that takes place over time. 
D)  both A and B. 
E)  all of the above. 
A)  a process. 
B)  a commitment. 
C)  a chain of events that takes place over time. 
D)  both A and B. 
E)  all of the above.

Question 7

A person is conducting research concerning a certain theory about entrepreneurship. The findings of the research contradict the theory. This proves the theory to be false.

Accepted Answer

A) True 
 B)False

Question 8

Which of the following is usually not considered to be one of the phases of entrepreneurship?

Accepted Answer

A)  Idea for new product or service. 
B)  Order a new boat and car in the first year of business. 
C)  Assemble required resources. 
D)  Build a successful business. 
E)  Harvest the rewards. 
A)  Idea for new product or service. 
B)  Order a new boat and car in the first year of business. 
C)  Assemble required resources. 
D)  Build a successful business. 
E)  Harvest the rewards.

Question 9

A research method which refers to collecting a large amount of data about one organization that is used to draw conclusions about cause and effect relationships is known as

Accepted Answer

A)  case method. 
B)  business plan. 
C)  hypothesis. 
D)  intrapreneur. 
E)  technology transfer. 
A)  case method. 
B)  business plan. 
C)  hypothesis. 
D)  intrapreneur. 
E)  technology transfer.

Question 10

Observing certain aspects of the world systematically,keeping careful records of what is noticed,and then using the information as a basis for reaching conclusions about the topics we wish to study and understand is know as

Accepted Answer

A)  systematic reasoning. 
B)  systematic observation. 
C)  experimentation. 
D)  theorizing. 
E)  transactional exploring. 
A)  systematic reasoning. 
B)  systematic observation. 
C)  experimentation. 
D)  theorizing. 
E)  transactional exploring.

Question 11

Technological,economic,and social forces all play an important role in starting a new business or service. This is especially true with a company such as Expedia.Com. Expedia.Com is an on-line travel service that allows users to book airline flights and make travel arrangements via the Internet. Explain how the three above mentioned forces generated the opportunity for a company like Expedia.com to become popular.

Accepted Answer

The business could not become popular un

Question 12

The entrepreneurial process begins when one or more persons recognize an opportunity---the potential to create something new that has emerged from a complex pattern of changing conditions.

Accepted Answer

A) True 
 B)False

Question 13

Of the following,which one is probably NOT and example of an entrepreneur.

Accepted Answer

A)  After years of working as a mechanic, a middle-aged man comes up with the idea of processing old tires and transforming them into border for flower gardens. 
B)  An elderly woman who enjoys entertaining in her home and providing home-made appetizers decides to offer her services to parties and become a caterer. 
C)  A scientist involved in research on the biochemistry of life makes breakthrough discoveries that advance the frontiers of his field, but has no interest in identifying the practical uses of his findings. 
D)  A computer scientist develops a new software program that is better then any others currently on the market. The scientist seeks capital to start a company to develop and sell this product. 
E)  After retiring from the army, an officer develops the idea of purchasing retired amphibious vehicles from the government and using them to start a company that specializes in offering tours of remote wilderness areas. 
A)  After years of working as a mechanic, a middle-aged man comes up with the idea of processing old tires and transforming them into border for flower gardens. 
B)  An elderly woman who enjoys entertaining in her home and providing home-made appetizers decides to offer her services to parties and become a caterer. 
C)  A scientist involved in research on the biochemistry of life makes breakthrough discoveries that advance the frontiers of his field, but has no interest in identifying the practical uses of his findings. 
D)  A computer scientist develops a new software program that is better then any others currently on the market. The scientist seeks capital to start a company to develop and sell this product. 
E)  After retiring from the army, an officer develops the idea of purchasing retired amphibious vehicles from the government and using them to start a company that specializes in offering tours of remote wilderness areas.

Question 14

About how many individuals are self-employed in the United States currently?

Accepted Answer

A)  more then 20 million. 
B)  less then 5 million. 
C)  more then 10 million. 
D)  approximately 45,000. 
E)  1,000. 
A)  more then 20 million. 
B)  less then 5 million. 
C)  more then 10 million. 
D)  approximately 45,000. 
E)  1,000.

Question 15

Recognizing opportunities for creating or developing something new can only occur within existing organizations.

Accepted Answer

A) True 
 B)False

Question 16

The term "Theory" refers to efforts to go beyond merely describing various phenomena to the point at which we can explain them.

Accepted Answer

A) True 
 B)False

Question 17

In the United States,small businesses,those with less than 500 employees,make up only about 1% of all employers.

Accepted Answer

A) True 
 B)False

Question 18

The definition of entrepreneurship includes the creation of something new. It does not include the requirement that the new thing makes it to market.

Accepted Answer

A) True 
 B)False

Question 19

Do entrepreneurs think differently than other people?

Accepted Answer

There is some evidence that entrepreneur

Question 20

A business plan is a detailed description of how a company plans to develop its new venture.

Accepted Answer

A) True 
 B)False

Discuss Entrepreneurship as a field of business. What does it seek to understand?

An incubator is

List and discuss each of the five major phases of the entrepreneurship process.

The macro level of analysis related to entrepreneurship includes

In attempting to understand the entrepreneurial process,the perspective that focuses on understanding the behavior and thoughts of people and groups in the business is known as

As best described in the text,entrepreneurship is said to be

A person is conducting research concerning a certain theory about entrepreneurship. The findings of the research contradict the theory. This proves the theory to be false.

Which of the following is usually not considered to be one of the phases of entrepreneurship?

A research method which refers to collecting a large amount of data about one organization that is used to draw conclusions about cause and effect relationships is known as

Observing certain aspects of the world systematically,keeping careful records of what is noticed,and then using the information as a basis for reaching conclusions about the topics we wish to study and understand is know as

The entrepreneurial process begins when one or more persons recognize an opportunity---the potential to create something new that has emerged from a complex pattern of changing conditions.

Of the following,which one is probably NOT and example of an entrepreneur.

About how many individuals are self-employed in the United States currently?

Recognizing opportunities for creating or developing something new can only occur within existing organizations.

The term "Theory" refers to efforts to go beyond merely describing various phenomena to the point at which we can explain them.

In the United States,small businesses,those with less than 500 employees,make up only about 1% of all employers.

The definition of entrepreneurship includes the creation of something new. It does not include the requirement that the new thing makes it to market.

Do entrepreneurs think differently than other people?

A business plan is a detailed description of how a company plans to develop its new venture.

Entrepreneurial Opportunities: Their Origins, Forms, and Suitability For New Ventures

Cognitive Foundations of Entrepreneurship: Creativity and Opportunity Recognition

What Entrepreneurs Need to Know Before They Start: Acquiring and Interpreting Information About Markets Competitors and Government

Assembling the Team: Acquiring and Utilizing Essential Human Capital

Financial Resources For New Ventures: How To Get Them, How To Manage Them

Writing An Effective Business Plan: Building A Road Map to Success

Legal Issues Relating To New Ventures: Protecting Your Reputation, Your Assets, And Your Ideas

Marketing in a New Venture

Strategy: Planning For Competitive Advantage

Preparing For And Attaining Growth: Strategies For Building Lasting Success

Managing New Ventures For Growth

Exit Strategies For Entrepreneurs: The Concluding Act

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Exam 1: Entrepreneurship:: A Field, an Activity - and a Way of Life

Discuss Entrepreneurship as a field of business. What does it seek to understand?

An incubator is

List and discuss each of the five major phases of the entrepreneurship process.

The macro level of analysis related to entrepreneurship includes

In attempting to understand the entrepreneurial process,the perspective that focuses on understanding the behavior and thoughts of people and groups in the business is known as

As best described in the text,entrepreneurship is said to be

A person is conducting research concerning a certain theory about entrepreneurship. The findings of the research contradict the theory. This proves the theory to be false.

Which of the following is usually not considered to be one of the phases of entrepreneurship?

A research method which refers to collecting a large amount of data about one organization that is used to draw conclusions about cause and effect relationships is known as

Observing certain aspects of the world systematically,keeping careful records of what is noticed,and then using the information as a basis for reaching conclusions about the topics we wish to study and understand is know as

The entrepreneurial process begins when one or more persons recognize an opportunity---the potential to create something new that has emerged from a complex pattern of changing conditions.

Of the following,which one is probably NOT and example of an entrepreneur.

About how many individuals are self-employed in the United States currently?

Recognizing opportunities for creating or developing something new can only occur within existing organizations.

The term "Theory" refers to efforts to go beyond merely describing various phenomena to the point at which we can explain them.

In the United States,small businesses,those with less than 500 employees,make up only about 1% of all employers.

The definition of entrepreneurship includes the creation of something new. It does not include the requirement that the new thing makes it to market.

Do entrepreneurs think differently than other people?

A business plan is a detailed description of how a company plans to develop its new venture.

Entrepreneurial Opportunities: Their Origins, Forms, and Suitability For New Ventures

Cognitive Foundations of Entrepreneurship: Creativity and Opportunity Recognition

What Entrepreneurs Need to Know Before They Start: Acquiring and Interpreting Information About Markets Competitors and Government

Assembling the Team: Acquiring and Utilizing Essential Human Capital

Financial Resources For New Ventures: How To Get Them, How To Manage Them

Writing An Effective Business Plan: Building A Road Map to Success

Legal Issues Relating To New Ventures: Protecting Your Reputation, Your Assets, And Your Ideas

Marketing in a New Venture

Strategy: Planning For Competitive Advantage

Preparing For And Attaining Growth: Strategies For Building Lasting Success

Managing New Ventures For Growth

Exit Strategies For Entrepreneurs: The Concluding Act

Filters