Exam 6: Starting Your Own Business

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Katherine is a successful entrepreneur.She stays close to her customers and is constantly looking for effective strategies.She is also willing to make adjustments when necessary.Katherine is demonstrating ________.

(Multiple Choice)
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Michael is a successful financial advisor looking to invest money directly into a new consulting business in return for equity in the company.Michael is an example of a(n)________.

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Concerning education and entrepreneurs,all of the following statements are correct EXCEPT:

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All of the following are important characteristics of entrepreneurs EXCEPT:

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The most successful entrepreneurs tend to operate in industries in which a great deal of _________ is taking place and in which customers have difficulty pinpointing their precise ______________,

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In the past,most entrepreneurs started their ventures without creating formal business plans.

(True/False)
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An entrepreneur:

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Franchisees often risk brand integrity by putting their business in the hands of franchisors.

(True/False)
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The Small Business Administration recommends avoiding the use of personal credit cards for business expenses.

(True/False)
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Explain how CEOs like George Buckley believe that intrapreneurship pays off despite the extra effort required.

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Which of the following is a major consideration in selecting a business idea?

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Describe how social networking has transformed the business environment for entrepreneurs.

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Which of the following persons is LEAST likely to become an entrepreneur?

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___________ has a long-standing and well-known record of encouraging intrapreneurship.

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MATCHING Complete the following using the terms listed. -_____ provide start-up companies with low-cost shared business facilities.

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Logan is an entrepreneur who takes personal responsibility for the success or failure of his actions rather than believing in luck or fate.Which characteristic best describes Logan's entrepreneurial philosophy?

(Multiple Choice)
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Generally,entrepreneurs do not have a high energy level.

(True/False)
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Social entrepreneursrecognize a societal problem and use business principles to develop innovative solutions.

(True/False)
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Students who graduate from entrepreneurship programs are more likely to be self-employed.

(True/False)
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MATCHING Complete the following using the terms listed. -_____ are business firms or groups of individuals who invest in new and growing firms.

(Multiple Choice)
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