Exam 1: Understanding Entrepreneurship

Describe current entrepreneurial trends.

The successful execution of the entrepreneurial process results in

In terms of business trends, the 1960s were characterized by

The late 1990s brought the "_____" bubble and the rush of the venture capital community to position itself for what appeared to be a new way of doing business.

In general, high-impact entrepreneurial ventures have which of the following three primary characteristics?

The vast majority of net new jobs created by the small business sector are created by

The 1970s saw the beginnings of three significant trends that would forever change the face of business: macroeconomic turmoil, the technology revolution, and

Entrepreneurship is a form of ''creative destruction.''

The annual Global Entrepreneurship Monitor divides countries into three groups based on where the country stands in terms of growth. In the 2016/2017 report, these three categories were _____, _____, and _____ economies.

In _____ economies, businesses are normally created out of necessity and so these countries tend to have very high entrepreneurial activity rates relative to other types of economies.

Briefly discuss the significant changes in entrepreneurship from the 1960s to the 1990s.

Briefly discuss the three primary characteristics of high-impact entrepreneurial ventures.

The U.S. Small Business Administration defines a small business as one with fewer than _____ employees.

Entrepreneurship can be found in some form in every country, in every age group, and (increasingly) in women as often as in men.

Early economists recognized that _____ is the primary force behind rising standards of living and that innovations in this would determine the success of nations in the future.

Explain in what ways entrepreneurship is more than simply starting a business.

"Mom-and-pops" are also known as _____ businesses.

The new millennium ushered in what many refer to as the _____ economy.

All of the following have been identified as key technology trends that will be the foundation for the next generation of entrepreneurial businesses EXCEPT

A(n) _____ is a digital replica of a human or real-world entity.