Deck 2: The Entrepreneurial Mind-Set in Individuals: Cognition and Ethics

Question 1

A code of conduct is a statement of ethical practices or guidelines to which an enterprise adheres.

Answer 1

True

Question 2

The generation of the twenty-first century may become known as generation E because it is becoming the most entrepreneurial generation since the Industrial Revolution.

Answer 2

True

Question 3

Entrepreneurs

A)are driven by intense commitment and perseverance.
B)are egomaniacs.
C)loners who never fit in to typical firms.
D)are never satisfied.

Answer 3

A

Question 4

Entrepreneurial stress can be caused by having a type A personality which can be defined as

A)having a chronic sense of time urgency
B)taking too little responsibility
C)getting away from business
D)taking things personally

Question 5

When entrepreneurs believe that their accomplishments and setbacks are within their own control and influence,they are exhibiting

A)persistent problem-solving.
B)internal locus of control.
C)external locus of control.
D)opportunity orientation.

Question 6

According to the Model of Entrepreneurship Motivation,the entrepreneur's expectations are not compared with the actual or perceived outcomes of the firm.

Question 7

Every person has the _____ and _____ to pursue a career as an entrepreneur

A)stubbornness; stupidity
B)potential; free choice
C)rights; regulations
D)obligation; duty

Question 8

Areas of risk to the entrepreneur include

A)career, family, psychic.
B)family, business, social.
C)psychic, social, physical.
D)financial, product, market

Question 9

Entrepreneurial cognition is,in part,about understanding how entrepreneurs use simplifying mental models to make assessments,judgments,and decisions about opportunities.

Question 10

Commitment,determination,and perseverance are the only characteristics one needs to become a successful entrepreneur.

Question 11

Which of the following is not a trait of successful entrepreneurs?

A)initiative
B)frustration
C)perseverance
D)strategic thinking

Question 12

The "dark side" of entrepreneurship refers to the stress that entrepreneur's experience.

Question 13

There is a certain psychic risk involved with entrepreneurship.

Question 14

The entrepreneurial ego can cause the entrepreneur to

A)have a sense of pessimism.
B)take characteristics that usually lead to success to the extreme.
C)ignore government regulations.
D)take too few risks.

Question 15

Ethics represents a set of principles prescribing a behavioral code that does not include moral duty and obligations.

Question 16

Characteristics often attributed to the entrepreneur include:

A)Commitment, determination, and perseverance
B)Prefers to be a loner
C)Power hungry
D)Ability to be indecisive

Question 17

Today's entrepreneurs are faced with few ethical decisions because the legal system imposes greater penalties on wrongdoers.

Question 18

Which of the following may be the greatest risk to the well-being of the entrepreneur?

A)social risk
B)financial risk
C)psychic risk
D)family risk

Question 19

A loss orientation toward grief recovery in dealing with failure can sometimes lessen negative emotional reactions.

Question 20

Generally,entrepreneurial stress is due to

A)being surrounded by incompetents.
B)fear of failure.
C)the discrepancy between the entrepreneur's expectations and the ability to meet demands.
D)caused by a big ego.

Question 21

A decision to sell toys that pass minimum safety standards but can often result in minor accidents to children is an example of a(n)

A)illegal and ethical decision.
B)legal and unethical decision.
C)illegal and unethical decision.
D)legal and ethical decision.

Question 22

Which of the following is not characteristic of the "dark side" of entrepreneurship?

A)an external optimism
B)a desire for success
C)knowing when to take a vacation
D)a sense of distrust

Question 23

Define ethics and discuss some conflicts over the ethical nature of decisions.

Question 24

Discuss the specific areas of entrepreneurial risk.

Question 25

The decision to behave entrepreneurially is the result of the interaction of:

A)the individual's personal entrepreneurial mind-set and an opportunity
B)the existence of a viable business idea
C)the relevant business environment
D)a new market

Question 26

Explain and discuss the "dark side" of entrepreneurship.

Question 27

Give some in-depth examples of the dilemmas entrepreneurs face with ethics and laws.

Question 28

Name the sources of entrepreneurial stress and discuss the ways of dealing with stress.

Question 29

A decision to sell pharmaceuticals that have not been cleared with the Federal Drug Administration is an example of a(n)

A)illegal and ethical decision.
B)legal and unethical decision.
C)illegal and unethical decision.
D)legal and ethical decision.

Question 30

A __________ is a statement of ethical practices or guidelines to which an enterprise adheres.

A)code of conduct
B)code of ethics
C)code of honor
D)code of silence