Exam 17: Appendix: Entrepreneurship Module

Which of the following is NOT a way to organize an entrepreneurial venture?

The form of legal ownership that an entrepreneur chooses for a venture primarily affects these concerns.

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

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

In a short essay, describe a good way for an entrepreneur to motivate his or her employees.

People who become entrepreneurs often have ________.

This section of a full business plan would include an assessment of the industry of the venture and how it fits into the overall economic climate.

This type of work team is composed of specialists.

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

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

When hiring, entrepreneurs typically are much less concerned with matching a candidate's values to the organization's organizational culture than traditional HRM managers.

An entrepreneurial venture's advertising strategy would be included in the description of the business section of a full business plan.

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

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

The first step in managing a downturn in an entrepreneurial business is to recognize that things are not going well.

Since they are often overwhelmed by the pressure of decisions, one chore that most entrepreneurs never hesitate to delegate is decision making.

An entrepreneurial venture that manufactures low-cost generic pills would be likely to be ________.

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

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