Question 1

An) _____ is a new business having growth and high profitability as primary objectives.

Accepted Answer

A)  angel-funded-start-up 
B)  junior enterprise 
C)  merger 
D)  entrepreneurial venture 
E)  greenfield venture 
A)  angel-funded-start-up 
B)  junior enterprise 
C)  merger 
D)  entrepreneurial venture 
E)  greenfield venture D

Question 2

Social capital refers to being part of a social network and having a good reputation.

Accepted Answer

A) True 
 B)False  True

Question 3

Holmes Clinic is an example of a business that was created as a result of

Accepted Answer

A)  technological discoveries. 
B)  demographic changes. 
C)  economic dislocations. 
D)  calamities. 
E)  government initiatives and rule changes. 
A)  technological discoveries. 
B)  demographic changes. 
C)  economic dislocations. 
D)  calamities. 
E)  government initiatives and rule changes. B

Question 4

All of the following steps are needed to build support for a project except

Accepted Answer

A)  horse trading. 
B)  making cheerleaders. 
C)  clearing the investment. 
D)  innovativeness. 
E)  getting a blessing. 
A)  horse trading. 
B)  making cheerleaders. 
C)  clearing the investment. 
D)  innovativeness. 
E)  getting a blessing.

Question 5

Edgar was a manager at a company that produced household appliances. He had many innovative ideas to increase profits. However, his ideas were not received well by the company. So, he left the company to pursue his own business. His new business is known as an)

Accepted Answer

A)  entrepreneurial venture. 
B)  spin-off. 
C)  franchise 
D)  merger 
E)  angel investment. 
A)  entrepreneurial venture. 
B)  spin-off. 
C)  franchise 
D)  merger 
E)  angel investment.

Question 6

Which of the following is a benefit of business incubators?

Accepted Answer

A)  information silo 
B)  high security 
C)  provision of venture capital 
D)  access to shared services 
E)  guaranteed profitability 
A)  information silo 
B)  high security 
C)  provision of venture capital 
D)  access to shared services 
E)  guaranteed profitability

Question 7

Guaranteeing a project's technical and political feasibility, often with a formal presentation to higher management, refers to which of the following stages for building support for an idea?

Accepted Answer

A)  making cheerleaders 
B)  bootlegging 
C)  horse trading 
D)  clearing the investment 
E)  getting the blessing 
A)  making cheerleaders 
B)  bootlegging 
C)  horse trading 
D)  clearing the investment 
E)  getting the blessing

Question 8

CEOs play a crucial role in promoting entrepreneurship within large corporations.

Accepted Answer

A) True 
 B)False

Question 9

Enrique decides to embark on an entrepreneurial venture. He is cautious because the risk is high and his idea is fairly common. Which of the following might he choose?

Accepted Answer

A)  the first old age home in a region with a predominantly aging population 
B)  a business selling a vaccine to combat zika 
C)  the only gas station in town 
D)  a Mexican restaurant serving street tacos and fajitas 
E)  a business selling high-speed Internet 
A)  the first old age home in a region with a predominantly aging population 
B)  a business selling a vaccine to combat zika 
C)  the only gas station in town 
D)  a Mexican restaurant serving street tacos and fajitas 
E)  a business selling high-speed Internet

Question 10

What is the role of the economic environment in the success of entrepreneurial ventures?

Accepted Answer

A)  Increases in the money supply and the supply of bank loans lead to improved prospects and increased sources of capital. 
B)  Entrepreneurial success is not affected by the economic environment; a good idea will prevail in all external conditions. 
C)  Entrepreneurial success is affected only by the talent and behavior of individuals, not by the economic environment. 
D)  Downturns in the economic environment offer no opportunity for entrepreneurial success. 
E)  A robust economy and the resulting increase in credit and demand boost the rate of new business formation, but a troubled economy has little effect on new ventures. 
A)  Increases in the money supply and the supply of bank loans lead to improved prospects and increased sources of capital. 
B)  Entrepreneurial success is not affected by the economic environment; a good idea will prevail in all external conditions. 
C)  Entrepreneurial success is affected only by the talent and behavior of individuals, not by the economic environment. 
D)  Downturns in the economic environment offer no opportunity for entrepreneurial success. 
E)  A robust economy and the resulting increase in credit and demand boost the rate of new business formation, but a troubled economy has little effect on new ventures.

Question 11

Compare and contrast entrepreneurs and intrapreneurs.

Accepted Answer

Independent entrepreneurs are individual

Question 12

What is the role of business incubators?

Accepted Answer

A)  They provide new and small businesses with information silos. 
B)  They protect consumers from fraud. 
C)  They provide enhanced wellness benefits to employees of large businesses. 
D)  They provide a protected environment for new and small businesses. 
E)  They provide opportunities for exponential growth without competition. 
A)  They provide new and small businesses with information silos. 
B)  They protect consumers from fraud. 
C)  They provide enhanced wellness benefits to employees of large businesses. 
D)  They provide a protected environment for new and small businesses. 
E)  They provide opportunities for exponential growth without competition.

Question 13

_____ involves creating new systems, resources, or processes to produce new goods or services and/or serve new markets.

Accepted Answer

A)  Advertising 
B)  Micropayment 
C)  Entrepreneurship 
D)  Profiteering 
E)  Transporting 
A)  Advertising 
B)  Micropayment 
C)  Entrepreneurship 
D)  Profiteering 
E)  Transporting

Question 14

______ is an entrepreneurial alliance between an innovator who has created at least one successful store and wants to grow and a partner who manages a new store of the same type in a new location.

Accepted Answer

A)  Franchising 
B)  An initial public offering 
C)  Bootlegging 
D)  The subscription model 
E)  The affiliate model 
A)  Franchising 
B)  An initial public offering 
C)  Bootlegging 
D)  The subscription model 
E)  The affiliate model

Question 15

An organization that resists entrepreneurial initiative

Accepted Answer

A)  faces the risk of overrelying on a single project. 
B)  may lose its ability to adapt when conditions dictate change. 
C)  spreads intrapreneurial efforts over many small scale projects. 
D)  represents the process of changing the status quo. 
E)  may fail while awaiting the completion of one large, innovative project. 
A)  faces the risk of overrelying on a single project. 
B)  may lose its ability to adapt when conditions dictate change. 
C)  spreads intrapreneurial efforts over many small scale projects. 
D)  represents the process of changing the status quo. 
E)  may fail while awaiting the completion of one large, innovative project.

Question 16

Observers say that in contemplating one's business, one must start with

Accepted Answer

A)  a great idea. 
B)  financial capital. 
C)  a good location. 
D)  family support. 
E)  investors. 
A)  a great idea. 
B)  financial capital. 
C)  a good location. 
D)  family support. 
E)  investors.

Question 17

Montgomery Donuts has made the decision to sell shares of stock publicly. This is called

Accepted Answer

A)  futures exchange. 
B)  add-on sale. 
C)  initial public offering. 
D)  trade sale. 
E)  profit sharing. 
A)  futures exchange. 
B)  add-on sale. 
C)  initial public offering. 
D)  trade sale. 
E)  profit sharing.

Question 18

When you can offer promises of payoffs from the project in return for support, time, money, and other resources that peers and others contribute, you are participating in

Accepted Answer

A)  clearing the investment. 
B)  horse trading. 
C)  making cheerleaders. 
D)  getting the blessing. 
E)  persistence and logic. 
A)  clearing the investment. 
B)  horse trading. 
C)  making cheerleaders. 
D)  getting the blessing. 
E)  persistence and logic.

Question 19

In order for family-managed businesses to survive and prosper, management guru Peter Drucker advised them to

Accepted Answer

A)  refrain from having someone outside the family help plan succession. 
B)  discontinue hiring outsiders as they are more objective. 
C)  fill at least one key position with a nonfamily member. 
D)  offer initial public stock offerings as soon as possible. 
E)  tolerate mediocre performance by family members. 
A)  refrain from having someone outside the family help plan succession. 
B)  discontinue hiring outsiders as they are more objective. 
C)  fill at least one key position with a nonfamily member. 
D)  offer initial public stock offerings as soon as possible. 
E)  tolerate mediocre performance by family members.

Question 20

Orson Inc., an entrepreneurial venture, does not have any distinctive services when compared with the well-established competitors in the same field, and the business will require a sizable investment. In which quadrant of the entrepreneurial strategy matrix will the venture be placed?

Accepted Answer

A)  high innovation/low risk 
B)  high innovation/high risk 
C)  low innovation/low risk 
D)  low innovation/high risk 
E)  medium innovation/low risk 
A)  high innovation/low risk 
B)  high innovation/high risk 
C)  low innovation/low risk 
D)  low innovation/high risk 
E)  medium innovation/low risk

An) _____ is a new business having growth and high profitability as primary objectives.

Social capital refers to being part of a social network and having a good reputation.

Holmes Clinic is an example of a business that was created as a result of

All of the following steps are needed to build support for a project except

Edgar was a manager at a company that produced household appliances. He had many innovative ideas to increase profits. However, his ideas were not received well by the company. So, he left the company to pursue his own business. His new business is known as an)

Which of the following is a benefit of business incubators?

Guaranteeing a project's technical and political feasibility, often with a formal presentation to higher management, refers to which of the following stages for building support for an idea?

CEOs play a crucial role in promoting entrepreneurship within large corporations.

Enrique decides to embark on an entrepreneurial venture. He is cautious because the risk is high and his idea is fairly common. Which of the following might he choose?

What is the role of the economic environment in the success of entrepreneurial ventures?

Compare and contrast entrepreneurs and intrapreneurs.

What is the role of business incubators?

_____ involves creating new systems, resources, or processes to produce new goods or services and/or serve new markets.

______ is an entrepreneurial alliance between an innovator who has created at least one successful store and wants to grow and a partner who manages a new store of the same type in a new location.

An organization that resists entrepreneurial initiative

Observers say that in contemplating one's business, one must start with

Montgomery Donuts has made the decision to sell shares of stock publicly. This is called

When you can offer promises of payoffs from the project in return for support, time, money, and other resources that peers and others contribute, you are participating in

In order for family-managed businesses to survive and prosper, management guru Peter Drucker advised them to

Orson Inc., an entrepreneurial venture, does not have any distinctive services when compared with the well-established competitors in the same field, and the business will require a sizable investment. In which quadrant of the entrepreneurial strategy matrix will the venture be placed?

Managing Effectively in a Global World

The Evolution of Management

The Organizational Environment and Culture

Ethics and Corporate Responsibility

Planning and Decision Making

Organizing for Success

Managing Human Resources

Managing Diversity and Inclusion

Leadership

Motivating People

Teamwork

Communicating

Managerial Control

Innovating and Changing

Filters

Exam 6: Entrepreneurship

An) _____ is a new business having growth and high profitability as primary objectives.

Social capital refers to being part of a social network and having a good reputation.

Holmes Clinic is an example of a business that was created as a result of

All of the following steps are needed to build support for a project except

Edgar was a manager at a company that produced household appliances. He had many innovative ideas to increase profits. However, his ideas were not received well by the company. So, he left the company to pursue his own business. His new business is known as an)

Which of the following is a benefit of business incubators?

Guaranteeing a project's technical and political feasibility, often with a formal presentation to higher management, refers to which of the following stages for building support for an idea?

CEOs play a crucial role in promoting entrepreneurship within large corporations.

Enrique decides to embark on an entrepreneurial venture. He is cautious because the risk is high and his idea is fairly common. Which of the following might he choose?

What is the role of the economic environment in the success of entrepreneurial ventures?

Compare and contrast entrepreneurs and intrapreneurs.

What is the role of business incubators?

_____ involves creating new systems, resources, or processes to produce new goods or services and/or serve new markets.

______ is an entrepreneurial alliance between an innovator who has created at least one successful store and wants to grow and a partner who manages a new store of the same type in a new location.

An organization that resists entrepreneurial initiative

Observers say that in contemplating one's business, one must start with

Montgomery Donuts has made the decision to sell shares of stock publicly. This is called

When you can offer promises of payoffs from the project in return for support, time, money, and other resources that peers and others contribute, you are participating in

In order for family-managed businesses to survive and prosper, management guru Peter Drucker advised them to

Orson Inc., an entrepreneurial venture, does not have any distinctive services when compared with the well-established competitors in the same field, and the business will require a sizable investment. In which quadrant of the entrepreneurial strategy matrix will the venture be placed?

Managing Effectively in a Global World

The Evolution of Management

The Organizational Environment and Culture

Ethics and Corporate Responsibility

Planning and Decision Making

Organizing for Success

Managing Human Resources

Managing Diversity and Inclusion

Leadership

Motivating People

Teamwork

Communicating

Managerial Control

Innovating and Changing

Filters