Question 1

Describe the five tendencies that determine entrepreneurial orientation.

Accepted Answer

Entrepreneurial orientation is determine...

Question 2

Beane 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 riskF) A) and C)
G) C) and D)

Question 3

Frances recently started her own business. She has nearly recreated a company she worked for previously. She is innovative and has great management skills and has been able to run her business efficiently and profitably. Frances is a(n)

Accepted Answer

A)   promoter.
B)   entrepreneur.
C)   manager.
D)   intrapreneur.
E)   inventor.F) A) and B)
G) D) and E)

Question 4

Meghan, like ForwardPlan, Inc., the company that employs her, has an entrepreneurial orientation. Recently, she was delighted to learn that ForwardPlan executives had anticipated a future market, recognized their lack of a technology to exploit that market, and had acquired exclusive rights to license a technology that would, in two years, put them in a premier competitive position in that market. Meghan admires her employer's ________ in anticipating future problems and opportunities.

Accepted Answer

A)   competitive aggressiveness
B)   innovativeness
C)   proactiveness
D)   independent action
E)   dependent actionF) A) and D)
G) B) and E)

Question 5

Compare and contrast entrepreneurs and intrapreneurs.

Accepted Answer

Independent entrepreneurs are individual...

Question 6

"There are many good reasons why you might want to go into business for yourself," said Dr. Peter Parillo to his PhD candidate, Ram Yadav. "But these good reasons do not include

Accepted Answer

A)   seeking challenge, profit potential, and enormous satisfaction."
B)   watching the market embrace your ideas and products."
C)   seeking power and control over others."
D)   finding one's progress or ideas blocked at big corporations."
E)   finding conventional paths to economic success closed."F) None of the above
G) A) and B)

Question 7

________ is a competitive advantage in the form of relationships with other people and the image other people have of an entrepreneur.

Accepted Answer

A)   Social capital
B)   Community standing
C)   Legitimacy
D)   Quality of life
E)   Opportunity analysisF) C) and E)
G) A) and C)

Question 8

The stage for building support for an idea, or ________, means guaranteeing a project's technical and political feasibility, often with a formal presentation to higher management.

Accepted Answer

A)   cheerleading
B)   bootlegging
C)   horse trading
D)   clearing the investment
E)   getting the blessingF) A) and D)
G) A) and C)

Question 9

Entrepreneurs experience stress, but they also have high job satisfaction. They tend to be ________ healthy and ________ likely to retire than those who work for others.

Accepted Answer

A)   less; more
B)   more; more
C)   more; less
D)   less; less
E)   equally; equallyF) B) and C)
G) A) and E)

Question 10

From the profiles below, identify the person who is most likely to become a successful entrepreneur .

Accepted Answer

A)   Percy enjoys challenges, has a strong social network, has good knowledge of management techniques, and possesses excellent business skills.
B)   Dot has an MBA and has been a manager in a corporate office for ten years. She likes a job to be well done and works best when she plans ahead.
C)   Kaitlin likes to invent new products, enjoys working in the laboratory, and avoids conflict whenever possible. She has little knowledge of business.
D)   Sarah has strong marketing and selling skills, and loves challenges in these areas.
E)   Liam is creative, embraces new ideas and products, and likes to motivate others but prefers working by himself.F) B) and C)
G) B) and D)

Question 11

Jake has asked Len to be a primary investor in his entrepreneurial start-up. Len first wants to carefully study Jake's business plan, in particular these key factors:

Accepted Answer

A)   the clients, the opportunity, the competition, the context, and the risk/reward.
B)   the people, the opportunity, the competition, the context, and the risk/reward.
C)   the clients, the other investors, the suppliers, the context, and the opportunities/threats.
D)   the people, the other investors, the suppliers, the context, and the opportunities/threats.
E)   the people, the threats, the partners, the context, and the risk/reward.F) A) and E)
G) All of the above

Question 12

In the context of the entrepreneurial strategy matrix, a ________ is most likely to have the highest risks and returns.

Accepted Answer

A)   clothing outfit
B)   tax preparation service
C)   new passenger vehicle
D)   new restaurant
E)   lawn mowing serviceF) A) and D)
G) C) and D)

Question 13

Describe the five key planning elements used in developing the best business plans.

Accepted Answer

In addition to the numbers, the best pla...

Question 14

________ is the pursuit of lucrative opportunities by enterprising individuals under conditions of uncertainty.

Accepted Answer

A)   Entrepreneurship
B)   Sugging
C)   Bootlegging
D)   Skunkworks
E)   IncubationF) A) and B)
G) B) and E)

Question 15

What are the five business models that have proven successful for e-commerce?

Accepted Answer

At least five successful business models...

Question 16

Choose the statement that is true of entrepreneurship.

Accepted Answer

A)   Any entrepreneur with a good idea can raise venture capital.
B)   Entrepreneurs are their own bosses and independent.
C)   Entrepreneurs "get rich quick" and enjoy a lot of leisure time.
D)   Entrepreneurs take careful, calculated risks and are not afraid to act on those decisions.
E)   If an entrepreneur is talented, he or she will quickly succeed.F) B) and C)
G) None of the above

Question 17

Ernesto decides to open a Mexican restaurant serving street tacos and fajitas. This will be one of several such restaurants in his small town. This entrepreneurial venture, like most small businesses, is characterized by ________ risk and ________ innovation.

Accepted Answer

A)   moderate; moderate
B)   moderate; high
C)   low; high
D)   high; low
E)   high; highF) B) and E)
G) A) and B)

Question 18

Pierce's new business rocketed upwards in its first year, but its progress stagnated thereafter. His mentor noted that Pierce was having a hard time "letting go"-giving his two best employees responsibility to take on assignments that they were obviously ready to handle. In fact, Pierce was needlessly and constantly "looking over their shoulder" to check their work. As evidenced by these reasons, Pierce's entrepreneurial venture was being threatened by his failure to

Accepted Answer

A)   delegate.
B)   plan.
C)   go public.
D)   use formal control systems.
E)   properly use funds.F) A) and E)
G) A) and D)

Question 19

In the context of the entrepreneurial strategy matrix, a novel product idea that involves a large financial investment would be described as

Accepted Answer

A)   high innovation/low risk.
B)   high innovation/high risk.
C)   low innovation/low risk.
D)   low innovation/high risk.
E)   low innovation/no risk.F) A) and B)
G) A) and C)

Question 20

________ helps an entrepreneur succeed.

Accepted Answer

A)   Encouragement of centralization
B)   Tolerance of ambiguity and uncertainty
C)   Risk aversion
D)   Maintenance of the status quo
E)   Fending off constructive criticismF) C) and D)
G) A) and B)

Exam 6: Entrepreneurship

Entrepreneurs experience stress, but they also have high job satisfaction. They tend to be healthy and likely to retire than those who work for others.

Correct Answer
verified

Choose the statement that is true of entrepreneurship.

Correct Answer
verified

Beane 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?

Correct Answer
verified

________ is the pursuit of lucrative opportunities by enterprising individuals under conditions of uncertainty.

Correct Answer
verified

Correct Answer
verified

Ernesto decides to open a Mexican restaurant serving street tacos and fajitas. This will be one of several such restaurants in his small town. This entrepreneurial venture, like most small businesses, is characterized by risk and innovation.

Correct Answer
verified

In the context of the entrepreneurial strategy matrix, a novel product idea that involves a large financial investment would be described as

Correct Answer
verified

Describe the five tendencies that determine entrepreneurial orientation.

Correct Answer
verified
Entrepreneurial orientation is determine...
View Answer

The stage for building support for an idea, or ________, means guaranteeing a project's technical and political feasibility, often with a formal presentation to higher management.

Correct Answer
verified

Frances recently started her own business. She has nearly recreated a company she worked for previously. She is innovative and has great management skills and has been able to run her business efficiently and profitably. Frances is a(n)

Correct Answer
verified

"There are many good reasons why you might want to go into business for yourself," said Dr. Peter Parillo to his PhD candidate, Ram Yadav. "But these good reasons do not include

Correct Answer
verified

What are the five business models that have proven successful for e-commerce?

Correct Answer
verified
At least five successful business models...
View Answer

In the context of the entrepreneurial strategy matrix, a ________ is most likely to have the highest risks and returns.

Correct Answer
verified

Compare and contrast entrepreneurs and intrapreneurs.

Correct Answer
verified
Independent entrepreneurs are individual...
View Answer

________ helps an entrepreneur succeed.

Correct Answer
verified

From the profiles below, identify the person who is most likely to become a successful entrepreneur .

Correct Answer
verified

Correct Answer
verified

Describe the five key planning elements used in developing the best business plans.

Correct Answer
verified
In addition to the numbers, the best pla...
View Answer

Jake has asked Len to be a primary investor in his entrepreneurial start-up. Len first wants to carefully study Jake's business plan, in particular these key factors:

Correct Answer
verified

________ is a competitive advantage in the form of relationships with other people and the image other people have of an entrepreneur.

Correct Answer
verified

Exam 6: Entrepreneurship

Entrepreneurs experience stress, but they also have high job satisfaction. They tend to be ________ healthy and ________ likely to retire than those who work for others.

Correct AnswerverifiedShow Answer

Choose the statement that is true of entrepreneurship.

Correct AnswerverifiedShow Answer

Beane 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?

Correct AnswerverifiedShow Answer

________ is the pursuit of lucrative opportunities by enterprising individuals under conditions of uncertainty.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Ernesto decides to open a Mexican restaurant serving street tacos and fajitas. This will be one of several such restaurants in his small town. This entrepreneurial venture, like most small businesses, is characterized by ________ risk and ________ innovation.

Correct AnswerverifiedShow Answer

In the context of the entrepreneurial strategy matrix, a novel product idea that involves a large financial investment would be described as

Correct AnswerverifiedShow Answer

Describe the five tendencies that determine entrepreneurial orientation.

Correct AnswerverifiedEntrepreneurial orientation is determine...View AnswerShow Answer

The stage for building support for an idea, or ________, means guaranteeing a project's technical and political feasibility, often with a formal presentation to higher management.

Correct AnswerverifiedShow Answer

Frances recently started her own business. She has nearly recreated a company she worked for previously. She is innovative and has great management skills and has been able to run her business efficiently and profitably. Frances is a(n)

Correct AnswerverifiedShow Answer

"There are many good reasons why you might want to go into business for yourself," said Dr. Peter Parillo to his PhD candidate, Ram Yadav. "But these good reasons do not include

Correct AnswerverifiedShow Answer

What are the five business models that have proven successful for e-commerce?

Correct AnswerverifiedAt least five successful business models...View AnswerShow Answer

In the context of the entrepreneurial strategy matrix, a ________ is most likely to have the highest risks and returns.

Correct AnswerverifiedShow Answer

Compare and contrast entrepreneurs and intrapreneurs.

Correct AnswerverifiedIndependent entrepreneurs are individual...View AnswerShow Answer

________ helps an entrepreneur succeed.

Correct AnswerverifiedShow Answer

From the profiles below, identify the person who is most likely to become a successful entrepreneur .

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Describe the five key planning elements used in developing the best business plans.

Correct AnswerverifiedIn addition to the numbers, the best pla...View AnswerShow Answer

Jake has asked Len to be a primary investor in his entrepreneurial start-up. Len first wants to carefully study Jake's business plan, in particular these key factors:

Correct AnswerverifiedShow Answer

________ is a competitive advantage in the form of relationships with other people and the image other people have of an entrepreneur.

Correct AnswerverifiedShow Answer

Entrepreneurs experience stress, but they also have high job satisfaction. They tend to be healthy and likely to retire than those who work for others.

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Ernesto decides to open a Mexican restaurant serving street tacos and fajitas. This will be one of several such restaurants in his small town. This entrepreneurial venture, like most small businesses, is characterized by risk and innovation.

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Entrepreneurial orientation is determine...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
At least five successful business models...
View Answer

Correct Answer
verified

Correct Answer
verified
Independent entrepreneurs are individual...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
In addition to the numbers, the best pla...
View Answer

Correct Answer
verified

Correct Answer
verified