Question 1

The word entreprendre refers to the individuals who "undertook" the risk of new enterprise.

Accepted Answer

A) True 
 B)False

Question 2

Fortunately, entrepreneurs do not communicate with external "stakeholders" such as investors and bankers.

Accepted Answer

A) True 
 B)False

Question 3

All of the following are reasons people become entrepreneurs except:

Accepted Answer

A)  working with others 
B)  make your own decisions 
C)  flexibility 
D)  financial rewards 
A)  working with others 
B)  make your own decisions 
C)  flexibility 
D)  financial rewards

Question 4

Technology entrepreneurs are individuals with innovative solutions to society's most social problems.

Accepted Answer

A) True 
 B)False

Question 5

Aspiring entrepreneurs hope for the chance to be their own bosses and have made the leap from their current employment into the uncertainty of a start-up.

Accepted Answer

A) True 
 B)False

Question 6

It is important that entrepreneurs consider their lifestyles and personality characteristics, such as desire for control, before undertaking a venture.

Accepted Answer

A) True 
 B)False

Question 7

Which of the following is not a characteristic of entrepreneurs:

Accepted Answer

A)  Self-starters 
B)  Lethargic 
C)  Optimists 
D)  Perseverant 
A)  Self-starters 
B)  Lethargic 
C)  Optimists 
D)  Perseverant

Question 8

A(n) _________________ is one that grows large enough to influence the environment and, thus, becomes a pacesetter.

Accepted Answer

entreprene

Question 9

The past ______ years have been years of tremendous growth for entrepreneurial companies and for the individuals who make them thrive.

Accepted Answer

A)  50 
B)  2 
C)  15 
D)  7 
A)  50 
B)  2 
C)  15 
D)  7

Question 10

Individuals with innovative solutions to society's most social problems are classified as:

Accepted Answer

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

Question 11

The failure rate of new companies is this percent in the first ten years:

Accepted Answer

A)  40-50 
B)  80-90 
C)  70-80 
D)  75-85 
A)  40-50 
B)  80-90 
C)  70-80 
D)  75-85

Question 12

_____________ have developed an enterprise that fits their individual circumstances and style of life, and their basic intention is to earn an income for themselves and their families.

Accepted Answer

Lifestyle

Question 13

Which of the following is not a characteristic of relieving stress:

Accepted Answer

A)  Get advice on time-management techniques 
B)  Try to live at least twenty minutes from work 
C)  Do not delegate 
D)  Build in some slack time 
A)  Get advice on time-management techniques 
B)  Try to live at least twenty minutes from work 
C)  Do not delegate 
D)  Build in some slack time

Question 14

These selected stages of entrepreneurship in order are:

Accepted Answer

A)  determining the resources required and implementing the plan; acquiring financial partners/sources of funding; scaling and harvesting the venture 
B)  acquiring financial partners/sources of funding; scaling and harvesting the venture; developing the plan and setting up the company 
C)  determining the resources required; acquiring financial partners/sources of funding; and conducting the opportunity analysis 
D)  acquiring financial partners/sources of funding; determining resources required and implementing the plan; scaling and harvesting the venture. 
A)  determining the resources required and implementing the plan; acquiring financial partners/sources of funding; scaling and harvesting the venture 
B)  acquiring financial partners/sources of funding; scaling and harvesting the venture; developing the plan and setting up the company 
C)  determining the resources required; acquiring financial partners/sources of funding; and conducting the opportunity analysis 
D)  acquiring financial partners/sources of funding; determining resources required and implementing the plan; scaling and harvesting the venture.

Question 15

If an entrepreneur has limited experience and limited internal resources, outside help is not necessary.

Accepted Answer

A) True 
 B)False

Question 16

In what stage of the entrepreneurial process would managing the finances take place?

Accepted Answer

A)  Stage 2 
B)  Stage 3 
C)  Stage 4 
D)  Stage 5 
A)  Stage 2 
B)  Stage 3 
C)  Stage 4 
D)  Stage 5

Question 17

Forming a strategic alliance and discussing options and alternatives are part of what stage of the entrepreneurial process?

Accepted Answer

A)  Stage 2 
B)  Stage 3 
C)  Stage 4 
D)  Stage 5 
A)  Stage 2 
B)  Stage 3 
C)  Stage 4 
D)  Stage 5

Question 18

Ray Smilor identified all of these entrepreneurs types except:

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

Question 19

Building ventures around new technology requires specialist knowledge in all of the following except:

Accepted Answer

A)  social science 
B)  language arts 
C)  economics 
D)  markets 
A)  social science 
B)  language arts 
C)  economics 
D)  markets

Question 20

_______________ often seem to be possessed by their ideas, committing their lives to changing the direction of their field.

Accepted Answer

Social ent

The word entreprendre refers to the individuals who "undertook" the risk of new enterprise.

Fortunately, entrepreneurs do not communicate with external "stakeholders" such as investors and bankers.

All of the following are reasons people become entrepreneurs except:

Technology entrepreneurs are individuals with innovative solutions to society's most social problems.

Aspiring entrepreneurs hope for the chance to be their own bosses and have made the leap from their current employment into the uncertainty of a start-up.

It is important that entrepreneurs consider their lifestyles and personality characteristics, such as desire for control, before undertaking a venture.

Which of the following is not a characteristic of entrepreneurs:

A(n) _________________ is one that grows large enough to influence the environment and, thus, becomes a pacesetter.

The past ______ years have been years of tremendous growth for entrepreneurial companies and for the individuals who make them thrive.

Individuals with innovative solutions to society's most social problems are classified as:

The failure rate of new companies is this percent in the first ten years:

_____________ have developed an enterprise that fits their individual circumstances and style of life, and their basic intention is to earn an income for themselves and their families.

Which of the following is not a characteristic of relieving stress:

These selected stages of entrepreneurship in order are:

If an entrepreneur has limited experience and limited internal resources, outside help is not necessary.

In what stage of the entrepreneurial process would managing the finances take place?

Forming a strategic alliance and discussing options and alternatives are part of what stage of the entrepreneurial process?

Ray Smilor identified all of these entrepreneurs types except:

Building ventures around new technology requires specialist knowledge in all of the following except:

_______________ often seem to be possessed by their ideas, committing their lives to changing the direction of their field.

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

The word entreprendre refers to the individuals who "undertook" the risk of new enterprise.

Fortunately, entrepreneurs do not communicate with external "stakeholders" such as investors and bankers.

All of the following are reasons people become entrepreneurs except:

Technology entrepreneurs are individuals with innovative solutions to society's most social problems.

Aspiring entrepreneurs hope for the chance to be their own bosses and have made the leap from their current employment into the uncertainty of a start-up.

It is important that entrepreneurs consider their lifestyles and personality characteristics, such as desire for control, before undertaking a venture.

Which of the following is not a characteristic of entrepreneurs:

A(n) _________________ is one that grows large enough to influence the environment and, thus, becomes a pacesetter.

The past ______ years have been years of tremendous growth for entrepreneurial companies and for the individuals who make them thrive.

Individuals with innovative solutions to society's most social problems are classified as:

The failure rate of new companies is this percent in the first ten years:

_____________ have developed an enterprise that fits their individual circumstances and style of life, and their basic intention is to earn an income for themselves and their families.

Which of the following is not a characteristic of relieving stress:

These selected stages of entrepreneurship in order are:

If an entrepreneur has limited experience and limited internal resources, outside help is not necessary.

In what stage of the entrepreneurial process would managing the finances take place?

Forming a strategic alliance and discussing options and alternatives are part of what stage of the entrepreneurial process?

Ray Smilor identified all of these entrepreneurs types except:

Building ventures around new technology requires specialist knowledge in all of the following except:

_______________ often seem to be possessed by their ideas, committing their lives to changing the direction of their field.

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