Question 1

Baekgaard and Miller offer this advice to entrepreneurs: Follow your passion and have fun!

Accepted Answer

A) True 
 B)False

Question 2

An unexpected benefit of deliberate practice is ______.

Accepted Answer

A) an entrepreneur becomes better by knowing what he or she knows and doesn't know 
B) your life becomes organized 
C) you become successful 
D) your children learn valuable lessons from watching you 
A) an entrepreneur becomes better by knowing what he or she knows and doesn't know 
B) your life becomes organized 
C) you become successful 
D) your children learn valuable lessons from watching you

Question 3

Writing an impact statement is important as it ties in your means at hand with how much you can stand to lose.

Accepted Answer

A) True 
 B)False

Question 4

Terry is an entrepreneur who embraces the process approach.He ______.

Accepted Answer

A) has a set of practices, is creative, invests in learning, and has a collaborative style 
B) is predictive, focuses on planning, wants an expected return, and is competitive 
C) has predicted outputs, is creative, likes to plan, and collaborates 
D) is creative and predictive 
A) has a set of practices, is creative, invests in learning, and has a collaborative style 
B) is predictive, focuses on planning, wants an expected return, and is competitive 
C) has predicted outputs, is creative, likes to plan, and collaborates 
D) is creative and predictive

Question 5

The predictive approach is used when situations are unpredictable and uncertain.

Accepted Answer

A) True 
 B)False

Question 6

Karen read the Baekgaard and Miller advice to entrepreneurs that included all BUT which of the following?

Accepted Answer

A) Concentrate on what you do best. 
B) Don't be satisfied with status quo. 
C) Always innovate and practice continuous improvement. 
D) Always look into the mid-term future. 
A) Concentrate on what you do best. 
B) Don't be satisfied with status quo. 
C) Always innovate and practice continuous improvement. 
D) Always look into the mid-term future.

Question 7

Describe the components of deliberate practice.

Accepted Answer

Requires high levels of focus, attention

Question 8

Mary uses the prediction element of entrepreneurism.Which of the following scenarios defines Mary?

Accepted Answer

A) Mary likes to plan and execute small actions of a project.She starts with the resources available and likes to experiment. 
B) Mary is competitive and likes to optimize her expected returns in all situations. 
C) Mary is a linear thinker and likes to experiment along this line and she is competitive. 
D) Mary is an experimenter and likes to collaborate.She expects an acceptable loss in the projects she takes on. 
A) Mary likes to plan and execute small actions of a project.She starts with the resources available and likes to experiment. 
B) Mary is competitive and likes to optimize her expected returns in all situations. 
C) Mary is a linear thinker and likes to experiment along this line and she is competitive. 
D) Mary is an experimenter and likes to collaborate.She expects an acceptable loss in the projects she takes on.

Question 9

Traditional entrepreneurship theory is underpinned by the prediction view.

Accepted Answer

A) True 
 B)False

Question 10

Warren likes to focus on how he felt while making a presentation and how he managed his nervousness, anxiety, and the pressure.Warren likes to use ______.

Accepted Answer

A) narrative reflection 
B) emotional reflection 
C) perceptive reflection 
D) analytical reflection 
A) narrative reflection 
B) emotional reflection 
C) perceptive reflection 
D) analytical reflection

Question 11

Thomas Watson, the founder of IBM, was asked about the key to success.His response was ______.

Accepted Answer

A) have a good accountant 
B) you really need a good product and a developed market 
C) Ben Franklin failed many times before each success.This is required 
D) to increase the rate of failure 
A) have a good accountant 
B) you really need a good product and a developed market 
C) Ben Franklin failed many times before each success.This is required 
D) to increase the rate of failure

Question 12

Bob uses the creation element of entrepreneurism.Which of the following scenarios defines Bob?

Accepted Answer

A) Bob likes to plan and execute small actions of a project.He starts with the resources available and likes to experiment. 
B) Bob is competitive and likes to optimize his expected returns in all situations. 
C) Bob is a linear thinker and likes to experiment along this line and he is competitive. 
D) Bob is an experimenter and is very competitive and embraces the unknown. 
A) Bob likes to plan and execute small actions of a project.He starts with the resources available and likes to experiment. 
B) Bob is competitive and likes to optimize his expected returns in all situations. 
C) Bob is a linear thinker and likes to experiment along this line and he is competitive. 
D) Bob is an experimenter and is very competitive and embraces the unknown.

Question 13

Paula gave an online presentation to the executive committee yesterday.She likes to focus on the skills and knowledge gained from the experience.Paula likes to use ______.

Accepted Answer

A) narrative reflection 
B) emotional reflection 
C) perceptive reflection 
D) analytical reflection 
A) narrative reflection 
B) emotional reflection 
C) perceptive reflection 
D) analytical reflection

Question 14

The more traditional view to approaching entrepreneurism is a linear process where the steps are followed and the outcomes can be expected.This defines ______.

Accepted Answer

A) the predictive approach 
B) the expected approach 
C) the creation view 
D) the organic approach 
A) the predictive approach 
B) the expected approach 
C) the creation view 
D) the organic approach

Question 15

A benefit of the method approach is that it requires continuous practice with a focus on doing then learning.

Accepted Answer

A) True 
 B)False

Question 16

The approach as a body of skills or practices that together comprise a toolkit for entrepreneurial action is ______.

Accepted Answer

A) the method approach 
B) the process approach 
C) the entrepreneurial approach 
D) the management approach 
A) the method approach 
B) the process approach 
C) the entrepreneurial approach 
D) the management approach

Question 17

A form of thinking that is used when the future is unpredictable is ______.

Accepted Answer

A) creation view 
B) predictive approach 
C) theory of effectuation 
D) a normal thought in entrepreneurism 
A) creation view 
B) predictive approach 
C) theory of effectuation 
D) a normal thought in entrepreneurism

Question 18

Penny started her business and is actively working on her impact statement.Her next step is to reflect and be honest with herself.She ______.

Accepted Answer

A) reacts as she is always a truthful person 
B) wants to ask how do I know when I should stop or keep going? When she should be asking, What am I going to do next? 
C) starts to spend money on marketing 
D) begins looking for venture capital 
A) reacts as she is always a truthful person 
B) wants to ask how do I know when I should stop or keep going? When she should be asking, What am I going to do next? 
C) starts to spend money on marketing 
D) begins looking for venture capital

Question 19

The author suggests that you ______.

Accepted Answer

A) shift your mind by speaking your desires 
B) have a strong business plan before starting 
C) hire an attorney, insurance agent, and an accountant before starting your business 
D) go for your dream 
A) shift your mind by speaking your desires 
B) have a strong business plan before starting 
C) hire an attorney, insurance agent, and an accountant before starting your business 
D) go for your dream

Question 20

The skill of reflection includes narrative, emotional, perceptive, and critical reflections.

Accepted Answer

A) True 
 B)False

Baekgaard and Miller offer this advice to entrepreneurs: Follow your passion and have fun!

An unexpected benefit of deliberate practice is ______.

Writing an impact statement is important as it ties in your means at hand with how much you can stand to lose.

Terry is an entrepreneur who embraces the process approach.He ______.

The predictive approach is used when situations are unpredictable and uncertain.

Karen read the Baekgaard and Miller advice to entrepreneurs that included all BUT which of the following?

Describe the components of deliberate practice.

Mary uses the prediction element of entrepreneurism.Which of the following scenarios defines Mary?

Traditional entrepreneurship theory is underpinned by the prediction view.

Warren likes to focus on how he felt while making a presentation and how he managed his nervousness, anxiety, and the pressure.Warren likes to use ______.

Thomas Watson, the founder of IBM, was asked about the key to success.His response was ______.

Bob uses the creation element of entrepreneurism.Which of the following scenarios defines Bob?

Paula gave an online presentation to the executive committee yesterday.She likes to focus on the skills and knowledge gained from the experience.Paula likes to use ______.

The more traditional view to approaching entrepreneurism is a linear process where the steps are followed and the outcomes can be expected.This defines ______.

A benefit of the method approach is that it requires continuous practice with a focus on doing then learning.

The approach as a body of skills or practices that together comprise a toolkit for entrepreneurial action is ______.

A form of thinking that is used when the future is unpredictable is ______.

Penny started her business and is actively working on her impact statement.Her next step is to reflect and be honest with herself.She ______.

The author suggests that you ______.

The skill of reflection includes narrative, emotional, perceptive, and critical reflections.

Entrepreneurship: a Global Social Movement

Developing an Entrepreneurial Mindset

Supporting Social Entrepreneurship

Generating New Ideas

Using Design Thinking

Testing and Experimenting in Markets

Building Business Models

Planning for Entrepreneurs

Creating Revenue Models

Learning From Failure

Bootstrapping for Resources

Financing for Startups

Developing Networks

Navigating Legal and Ip Issues

Marketing and Pitching Your Idea

Financial Statements and Projections for Startups

the Pitch Deck

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Exam 2: Practicing Entrepreneurship

Baekgaard and Miller offer this advice to entrepreneurs: Follow your passion and have fun!

An unexpected benefit of deliberate practice is ______.

Writing an impact statement is important as it ties in your means at hand with how much you can stand to lose.

Terry is an entrepreneur who embraces the process approach.He ______.

The predictive approach is used when situations are unpredictable and uncertain.

Karen read the Baekgaard and Miller advice to entrepreneurs that included all BUT which of the following?

Describe the components of deliberate practice.

Mary uses the prediction element of entrepreneurism.Which of the following scenarios defines Mary?

Traditional entrepreneurship theory is underpinned by the prediction view.

Warren likes to focus on how he felt while making a presentation and how he managed his nervousness, anxiety, and the pressure.Warren likes to use ______.

Thomas Watson, the founder of IBM, was asked about the key to success.His response was ______.

Bob uses the creation element of entrepreneurism.Which of the following scenarios defines Bob?

Paula gave an online presentation to the executive committee yesterday.She likes to focus on the skills and knowledge gained from the experience.Paula likes to use ______.

The more traditional view to approaching entrepreneurism is a linear process where the steps are followed and the outcomes can be expected.This defines ______.

A benefit of the method approach is that it requires continuous practice with a focus on doing then learning.

The approach as a body of skills or practices that together comprise a toolkit for entrepreneurial action is ______.

A form of thinking that is used when the future is unpredictable is ______.

Penny started her business and is actively working on her impact statement.Her next step is to reflect and be honest with herself.She ______.

The author suggests that you ______.

The skill of reflection includes narrative, emotional, perceptive, and critical reflections.

Entrepreneurship: a Global Social Movement

Developing an Entrepreneurial Mindset

Supporting Social Entrepreneurship

Generating New Ideas

Using Design Thinking

Testing and Experimenting in Markets

Building Business Models

Planning for Entrepreneurs

Creating Revenue Models

Learning From Failure

Bootstrapping for Resources

Financing for Startups

Developing Networks

Navigating Legal and Ip Issues

Marketing and Pitching Your Idea

Financial Statements and Projections for Startups

the Pitch Deck

Filters