Question 1

Legal issues for an entrepreneurial organization typically are addressed after the organization is up and running.

Accepted Answer

A) True 
 B)False  False

Question 2

When hiring, entrepreneurs are more likely to make sure that these two elements are a good match than traditional HRM managers.

Accepted Answer

A) job skills and organizational needs 
B) job qualifications and organizational requirements 
C) formal job training and organizational requirements 
D) values and organizational culture 
A) job skills and organizational needs 
B) job qualifications and organizational requirements 
C) formal job training and organizational requirements 
D) values and organizational culture D

Question 3

Entrepreneurs should take great care when choosing a form of legal ownership because once one form is chosen, it is ________ to change it to another form.

Accepted Answer

A) impossible 
B) very difficult 
C) easy 
D) rather embarrassing 
A) impossible 
B) very difficult 
C) easy 
D) rather embarrassing B

Question 4

In a short essay, describe the steps an entrepreneur typically takes in planning and organizing an entrepreneurial venture.

Accepted Answer

In planning an entrepreneurial venture,

Question 5

Once an entrepreneurial venture is actually up and running, the entrepreneur switches to a ________ role.

Accepted Answer

A) managerial 
B) ceremonial figurehead 
C) background 
D) subordinating 
A) managerial 
B) ceremonial figurehead 
C) background 
D) subordinating

Question 6

One of the keys that distinguishes an entrepreneurial organization from a conventional organization is the concerted emphasis on growth.

Accepted Answer

A) True 
 B)False

Question 7

An executive summary is the most complete kind of business plan.

Accepted Answer

A) True 
 B)False

Question 8

An entrepreneurial venture is the same as a small business.

Accepted Answer

A) True 
 B)False

Question 9

A brief mission statement of an entrepreneurial venture would be included in this section of a full business plan.

Accepted Answer

A) analysis of opportunity 
B) description of the business 
C) executive summary 
D) analysis of the context 
A) analysis of opportunity 
B) description of the business 
C) executive summary 
D) analysis of the context

Question 10

During the first step of the planning phase of an entrepreneurial venture, this is accomplished.

Accepted Answer

A) selecting a legal business organization form 
B) stating a mission 
C) selecting an organizational design 
D) performing a copyright search 
A) selecting a legal business organization form 
B) stating a mission 
C) selecting an organizational design 
D) performing a copyright search

Question 11

A good way to ease into employee empowerment is to let employees share in decision making.

Accepted Answer

A) True 
 B)False

Question 12

A leader of an entrepreneurial organization is like a jazz band leader because he or she ________.

Accepted Answer

A) controls every "note" that the performers "play" 
B) wants a happy and harmonious workplace 
C) has no influence over what the performers "play" 
D) works to draw the "best" out of every performer 
A) controls every "note" that the performers "play" 
B) wants a happy and harmonious workplace 
C) has no influence over what the performers "play" 
D) works to draw the "best" out of every performer

Question 13

Harvesting an entrepreneurial venture occurs when the venture ________.

Accepted Answer

A) has a hit product 
B) is successful 
C) is sold 
D) becomes profitable 
A) has a hit product 
B) is successful 
C) is sold 
D) becomes profitable

Question 14

After four years, ________ business.

Accepted Answer

A) 56 percent of entrepreneurial ventures are out of 
B) 56 percent of entrepreneurial ventures are still in 
C) 31 percent of entrepreneurial ventures are out of 
D) two-thirds of entrepreneurial ventures are out of 
A) 56 percent of entrepreneurial ventures are out of 
B) 56 percent of entrepreneurial ventures are still in 
C) 31 percent of entrepreneurial ventures are out of 
D) two-thirds of entrepreneurial ventures are out of

Question 15

An entrepreneur should ________ a plan for dealing with an economic downturn ________ any downturn occurs.

Accepted Answer

A) create; when 
B) have; in place before 
C) write out; after 
D) think out; while 
A) create; when 
B) have; in place before 
C) write out; after 
D) think out; while

Question 16

The more proactive you are, the more likely you are to be an entrepreneur.

Accepted Answer

A) True 
 B)False

Question 17

In most cases, the first step in the initial (pre-planning)phase of the entrepreneurial process is this.

Accepted Answer

A) planning the venture 
B) identifying potential opportunities 
C) exploring finance options 
D) researching the venture's feasibility 
A) planning the venture 
B) identifying potential opportunities 
C) exploring finance options 
D) researching the venture's feasibility

Question 18

In a short essay, explain what an entrepreneurial venture is and how it differs from a small business.

Accepted Answer

An entrepreneurial venture is a business

Question 19

In a short essay, explain why Viking Range qualifies as an entrepreneurial venture.

Accepted Answer

Viking Range has all the earmarks of an

Question 20

After the startup has been planned and organized, the next step is ________.

Accepted Answer

A) prototyping the product or service 
B) creating a top management team 
C) financing the venture 
D) launching the venture 
A) prototyping the product or service 
B) creating a top management team 
C) financing the venture 
D) launching the venture

Legal issues for an entrepreneurial organization typically are addressed after the organization is up and running.

When hiring, entrepreneurs are more likely to make sure that these two elements are a good match than traditional HRM managers.

Entrepreneurs should take great care when choosing a form of legal ownership because once one form is chosen, it is ________ to change it to another form.

In a short essay, describe the steps an entrepreneur typically takes in planning and organizing an entrepreneurial venture.

Once an entrepreneurial venture is actually up and running, the entrepreneur switches to a ________ role.

One of the keys that distinguishes an entrepreneurial organization from a conventional organization is the concerted emphasis on growth.

An executive summary is the most complete kind of business plan.

An entrepreneurial venture is the same as a small business.

A brief mission statement of an entrepreneurial venture would be included in this section of a full business plan.

During the first step of the planning phase of an entrepreneurial venture, this is accomplished.

A good way to ease into employee empowerment is to let employees share in decision making.

A leader of an entrepreneurial organization is like a jazz band leader because he or she ________.

Harvesting an entrepreneurial venture occurs when the venture ________.

After four years, ________ business.

An entrepreneur should a plan for dealing with an economic downturn any downturn occurs.

The more proactive you are, the more likely you are to be an entrepreneur.

In most cases, the first step in the initial (pre-planning)phase of the entrepreneurial process is this.

In a short essay, explain what an entrepreneurial venture is and how it differs from a small business.

In a short essay, explain why Viking Range qualifies as an entrepreneurial venture.

After the startup has been planned and organized, the next step is ________.

Managers and Management

The Management Environment

Integrative Managerial Issues

Foundations of Decision Making

Foundations of Planning

Organization Structure

Managing Human Resources

Managing Change and Innovation

Foundations of Individual Behavior

Understanding Groups and Managing Work Teams

Motivating and Rewarding Employees

Leadership and Trust

Managing Communication and Information

Foundations of Control

Operations Management

Quantitative Module

Career Module

Entrepreneurship Module

Filters

Exam 16 : History Module

Legal issues for an entrepreneurial organization typically are addressed after the organization is up and running.

When hiring, entrepreneurs are more likely to make sure that these two elements are a good match than traditional HRM managers.

Entrepreneurs should take great care when choosing a form of legal ownership because once one form is chosen, it is ________ to change it to another form.

In a short essay, describe the steps an entrepreneur typically takes in planning and organizing an entrepreneurial venture.

Once an entrepreneurial venture is actually up and running, the entrepreneur switches to a ________ role.

One of the keys that distinguishes an entrepreneurial organization from a conventional organization is the concerted emphasis on growth.

An executive summary is the most complete kind of business plan.

An entrepreneurial venture is the same as a small business.

A brief mission statement of an entrepreneurial venture would be included in this section of a full business plan.

During the first step of the planning phase of an entrepreneurial venture, this is accomplished.

A good way to ease into employee empowerment is to let employees share in decision making.

A leader of an entrepreneurial organization is like a jazz band leader because he or she ________.

Harvesting an entrepreneurial venture occurs when the venture ________.

After four years, ________ business.

An entrepreneur should ________ a plan for dealing with an economic downturn ________ any downturn occurs.

The more proactive you are, the more likely you are to be an entrepreneur.

In most cases, the first step in the initial (pre-planning)phase of the entrepreneurial process is this.

In a short essay, explain what an entrepreneurial venture is and how it differs from a small business.

In a short essay, explain why Viking Range qualifies as an entrepreneurial venture.

After the startup has been planned and organized, the next step is ________.

Managers and Management

The Management Environment

Integrative Managerial Issues

Foundations of Decision Making

Foundations of Planning

Organization Structure

Managing Human Resources

Managing Change and Innovation

Foundations of Individual Behavior

Understanding Groups and Managing Work Teams

Motivating and Rewarding Employees

Leadership and Trust

Managing Communication and Information

Foundations of Control

Operations Management

Quantitative Module

Career Module

Entrepreneurship Module

Filters

An entrepreneur should a plan for dealing with an economic downturn any downturn occurs.