Question 1

Stage 4 is:

Accepted Answer

A)  Scaling and Harvesting the Venture 
B)  Determining the Resources Required and Implementing the Plan 
C)  Developing the Plan and Setting up the Company 
D)  Acquiring Financial Partners/Sources of Funding 
A)  Scaling and Harvesting the Venture 
B)  Determining the Resources Required and Implementing the Plan 
C)  Developing the Plan and Setting up the Company 
D)  Acquiring Financial Partners/Sources of Funding B

Question 2

What percent of all U.S. businesses employ twenty or fewer people?

Accepted Answer

A)  Approximately 98 
B)  Approximately 87 
C)  Approximately 65 
D)  Approximately 50 
A)  Approximately 98 
B)  Approximately 87 
C)  Approximately 65 
D)  Approximately 50 B

Question 3

Which of the following is not a stage of the entrepreneurial process?

Accepted Answer

A)  Developing the plan and setting up the company 
B)  Buying an existing company 
C)  Scaling and harvesting the venture 
D)  Conducting opportunity analysis 
A)  Developing the plan and setting up the company 
B)  Buying an existing company 
C)  Scaling and harvesting the venture 
D)  Conducting opportunity analysis B

Question 4

Most businesses do this:

Accepted Answer

A)  Start big, stay big 
B)  Start small, become big 
C)  Start small, stay small 
D)  Start big, become small 
A)  Start big, stay big 
B)  Start small, become big 
C)  Start small, stay small 
D)  Start big, become small

Question 5

Most companies fail because of:

Accepted Answer

A)  having too much money 
B)  focusing on a bad idea 
C)  confronting complex management decisions without experience 
D)  not having enough employees 
A)  having too much money 
B)  focusing on a bad idea 
C)  confronting complex management decisions without experience 
D)  not having enough employees

Question 6

Many companies fail because the founders do not confront their management limitations.

Accepted Answer

A) True 
 B)False

Question 7

Looking at the historical trend, it is safe to say that most businesses start small and grow to be a large corporation.

Accepted Answer

A) True 
 B)False

Question 8

An entrepreneur is driven mainly by:

Accepted Answer

A)  The control of resources 
B)  Changing technology 
C)  The perception of opportunity 
D)  Planning systems 
A)  The control of resources 
B)  Changing technology 
C)  The perception of opportunity 
D)  Planning systems

Question 9

The failure rate of new companies is ________ percent within the first two years.

Accepted Answer

The answer of The failure rate of new companies is...

Question 10

A full ____________ is a vital yet dynamic document for a company.

Accepted Answer

The answer of A full ____________ is a vital yet...

Question 11

The first decision that an entrepreneur should make is whether personal lifestyle and control are more important than ____________ and eventual wealth creation.

Accepted Answer

The answer of The first decision that an entrepreneur should...

Question 12

Fortunately, the skills needed to run a small company are not different from those required to run a larger firm.

Accepted Answer

A) True 
 B)False

Question 13

Setting goals and objectives, starting to write the plan, determining pricing, and preparing a full business plan are part of Stage _______________ of the entrepreneurial process.

Accepted Answer

The answer of Setting goals and objectives, starting to write...

Question 14

The basic objective of Stage ________________ of the entrepreneurial process is to define the criteria that would make a business opportunity worthwhile.

Accepted Answer

The answer of The basic objective of Stage ________________ of...

Question 15

Oftentimes, entrepreneurs become so engrossed in their venture that they can neglect their family relationships and their own health.

Accepted Answer

A) True 
 B)False

Question 16

The stages of entrepreneurship includes all of the following except:

Accepted Answer

A)  Conduct an opportunity analysis, 
B)  Develop the plan and set up the company, 
C)  Select an attorney 
D)  Scale and harvest the venture. 
A)  Conduct an opportunity analysis, 
B)  Develop the plan and set up the company, 
C)  Select an attorney 
D)  Scale and harvest the venture.

Question 17

Stage 5 of the entrepreneurial process is called ____________________.

Accepted Answer

Scaling an

Question 18

Most business ventures that fail are:

Accepted Answer

A)  More than five years old. 
B)  Less than ten years old. 
C)  Less than one year old. 
D)  More than ten years old. 
A)  More than five years old. 
B)  Less than ten years old. 
C)  Less than one year old. 
D)  More than ten years old.

Question 19

Entrepreneurship is sometimes discussed as the ability to deal with apparent conflicts and find a balance between differing conditions and personal attributes. An example of this type of conflict would be:

Accepted Answer

A)  creativity and risk taking 
B)  urgency and patience 
C)  ambiguity and creativity 
D)  risk taking and ambiguity 
A)  creativity and risk taking 
B)  urgency and patience 
C)  ambiguity and creativity 
D)  risk taking and ambiguity

Question 20

The type of entrepreneur that have the desire and the ability to grow as fast and as large as possible is:

Accepted Answer

A)  Growth entrepreneurs 
B)  Aspiring entrepreneurs 
C)  Lifestyle entrepreneurs 
D)  Technology entrepreneurs 
A)  Growth entrepreneurs 
B)  Aspiring entrepreneurs 
C)  Lifestyle entrepreneurs 
D)  Technology entrepreneurs

Stage 4 is:

What percent of all U.S. businesses employ twenty or fewer people?

Which of the following is not a stage of the entrepreneurial process?

Most businesses do this:

Most companies fail because of:

Many companies fail because the founders do not confront their management limitations.

Looking at the historical trend, it is safe to say that most businesses start small and grow to be a large corporation.

An entrepreneur is driven mainly by:

The failure rate of new companies is ________ percent within the first two years.

A full ____________ is a vital yet dynamic document for a company.

The first decision that an entrepreneur should make is whether personal lifestyle and control are more important than ____________ and eventual wealth creation.

Fortunately, the skills needed to run a small company are not different from those required to run a larger firm.

Setting goals and objectives, starting to write the plan, determining pricing, and preparing a full business plan are part of Stage _______________ of the entrepreneurial process.

The basic objective of Stage ________________ of the entrepreneurial process is to define the criteria that would make a business opportunity worthwhile.

Oftentimes, entrepreneurs become so engrossed in their venture that they can neglect their family relationships and their own health.

The stages of entrepreneurship includes all of the following except:

Stage 5 of the entrepreneurial process is called ____________________.

Most business ventures that fail are:

Entrepreneurship is sometimes discussed as the ability to deal with apparent conflicts and find a balance between differing conditions and personal attributes. An example of this type of conflict would be:

The type of entrepreneur that have the desire and the ability to grow as fast and as large as possible is:

Converting Ideas Into Opportunities

Framing and Testing the Business Model

Engaging Customers, Analyzing Competitors, for Market Entry Strategy

Preparing the Investor Package

Setting up the Company

Protecting Intellectual Property

Launching and Financing Your Venture

Equity Financing for High Growth

Managing Start-Up Performance/money and People

Pitching the Venture to Investors

Planning Your Exit

Filters

Exam 1: Understanding the Entrepreneurial Process

Stage 4 is:

What percent of all U.S. businesses employ twenty or fewer people?

Which of the following is not a stage of the entrepreneurial process?

Most businesses do this:

Most companies fail because of:

Many companies fail because the founders do not confront their management limitations.

Looking at the historical trend, it is safe to say that most businesses start small and grow to be a large corporation.

An entrepreneur is driven mainly by:

The failure rate of new companies is ________ percent within the first two years.

A full ____________ is a vital yet dynamic document for a company.

The first decision that an entrepreneur should make is whether personal lifestyle and control are more important than ____________ and eventual wealth creation.

Fortunately, the skills needed to run a small company are not different from those required to run a larger firm.

Setting goals and objectives, starting to write the plan, determining pricing, and preparing a full business plan are part of Stage _______________ of the entrepreneurial process.

The basic objective of Stage ________________ of the entrepreneurial process is to define the criteria that would make a business opportunity worthwhile.

Oftentimes, entrepreneurs become so engrossed in their venture that they can neglect their family relationships and their own health.

The stages of entrepreneurship includes all of the following except:

Stage 5 of the entrepreneurial process is called ____________________.

Most business ventures that fail are:

Entrepreneurship is sometimes discussed as the ability to deal with apparent conflicts and find a balance between differing conditions and personal attributes. An example of this type of conflict would be:

The type of entrepreneur that have the desire and the ability to grow as fast and as large as possible is:

Converting Ideas Into Opportunities

Framing and Testing the Business Model

Engaging Customers, Analyzing Competitors, for Market Entry Strategy

Preparing the Investor Package

Setting up the Company

Protecting Intellectual Property

Launching and Financing Your Venture

Equity Financing for High Growth

Managing Start-Up Performance/money and People

Pitching the Venture to Investors

Planning Your Exit

Filters