Exam 16 : History Module

Since it is impossible to predict the future, projected income estimates are not part of a good business plan.

If the legal structure of an entrepreneurial venture does not turn out to be ideal, it can always be changed easily once the organization is up and running.

Perhaps the best predictor of whether or not a person will become an entrepreneur is how ________ she is.

In a short essay, describe the contents of the business description part of a full business plan.

In a short essay, describe the classic entrepreneurial personality.

You would expect an entrepreneur who has a grand vision for the future to be more of a risk taker than an entrepreneur who is using his or her venture simply as a source of income.

An "accidental entrepreneur" is someone who became an entrepreneur because he or she ________.

An entrepreneurial venture is much more likely to change an industry than a small business.

A person with a proactive personality is someone who ________.

Most entrepreneurial ventures are successful.

Saving money by avoiding the expense of professional advice, such as legal and accounting, is often a mistake for entrepreneurs.

Identification of the organization's key personnel would be included in this section of a full business plan.

This type of work team has authority to implement the changes it recommends.

People who become entrepreneurs often have ________.

This type of work team has the most autonomy.

A proactive person would be most likely to say this about his or her life.

In general, an entrepreneurial venture that sees ________ as its competitive advantage would tend to be ________ in structure.

In a short essay, describe the steps an entrepreneur typically takes in deciding whether to begin an entrepreneurial venture.

The two primary factors that affect the legal structure of an entrepreneurial organization are taxes and legal liability.

Employee empowerment increases productivity, but decreases employee motivation.