Question 1

_____ are new venture creators working inside big companies; they are corporate entrepreneurs, using their company's resources to build a profitable line of business based on a fresh new idea.

Accepted Answer

A)   Intrapreneurs
B)   Entrepreneurs
C)   Sole proprietors
D)   Management novices
E)   LicenseesF) B) and C)
G) A) and B)

Question 2

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

Accepted Answer

In addition to the numbers, th...

Question 3

According to Peter Drucker, which of the following statements is true of managing a family business?

Accepted Answer

A)   Mediocre performance by family members employed in the company may be tolerated.
B)   The business should be aggressively managed.
C)   The business should not hire outsiders as they contribute expertise the family might not have.
D)   Someone outside the family and the business should help plan succession.
E)   The business should "go public" as soon as possible.F) B) and D)
G) D) and E)

Question 4

In the context of the entrepreneurial strategy matrix, most small business ventures are in the lower right quadrant where innovation is low and risk is high.

Accepted Answer

A) True 
 B)False

Question 5

Some say that _____ are slower to act and tend to avoid risk.

Accepted Answer

A)   entrepreneurs
B)   managers
C)   franchisors
D)   small businesses
E)   consumersF) A) and B)
G) C) and D)

Question 6

Which of the following statements 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 D)
G) A) and E)

Question 7

The odds of survival for a new venture improve if

Accepted Answer

A)   there is an economic downturn.
B)   there is novelty.
C)   it is small.
D)   it grows to at least 10 or 20 people.
E)   it has revenues of $1 million.F) A) and E)
G) C) and D)

Question 8

In the context of entrepreneurial orientation, an organization with a tendency of _____ grants individuals and teams the freedom to exercise their creativity, champion promising ideas, and carry them through to completion.

Accepted Answer

A)   independent action
B)   innovativeness
C)   risk taking
D)   competitive aggressiveness
E)   proactivenessF) None of the above
G) All of the above

Question 9

Informal efforts, as opposed to official job assignments, in which employees work to create new products and processes of their own choosing and initiative refer to

Accepted Answer

A)   spin-offs.
B)   skunkworks.
C)   bootlegging.
D)   horse trading.
E)   sponsorship.F) B) and E)
G) B) and D)

Question 10

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) B) and D)
G) C) and E)

Question 11

Business incubators, often located in industrial parks or abandoned factories, are

Accepted Answer

A)   protected environments for new, small businesses.
B)   protected environments for established, large businesses.
C)   unprotected environments for established, small businesses.
D)   unprotected environments for new, large businesses.
E)   unprotected environments for commercial businesses.F) A) and B)
G) B) and E)

Question 12

_______ 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) B) and E)
G) B) and D)

Question 13

In the context of entrepreneurial orientation, which of the following tendencies occurs when an organization is as willing to commit significant resources and perhaps borrow heavily, to venture into the unknown?

Accepted Answer

A)   independent action
B)   innovativeness
C)   risk taking
D)   competitive aggressiveness
E)   proactivenessF) C) and D)
G) B) and E)

Question 14

Calamities such as wars and natural disasters can provide opportunities for entrepreneurs.

Accepted Answer

A) True 
 B)False

Question 15

_____ offer a way for a business to raise capital through federally registered and underwritten sales of shares in a company.

Accepted Answer

A)   Initial public stock offerings
B)   Venture capital funds
C)   Skunkworks
D)   Bootleggings
E)   FranchisesF) A) and B)
G) B) and E)

Question 16

Organizations that encourage _____ face an obvious risk: the effort can fail.

Accepted Answer

A)   entrepreneurship
B)   intrapreneurship
C)   bootlegging
D)   innovativeness
E)   benchmarkingF) None of the above
G) D) and E)

Question 17

How can an entrepreneur generate legitimacy?

Accepted Answer

A)   by avoiding constructive criticism
B)   by being risk-averse
C)   by removing standards established by credentialing associations
D)   by visibly conforming to expectations created by governments
E)   by maintaining the status quoF) B) and D)
G) None of the above

Question 18

In the context of key planning elements, which of the following is true of what venture capital firms consider important for an entrepreneurial venture?

Accepted Answer

A)   They believe that a strong marketing campaign is the best for an entrepreneurial venture.
B)   They believe that a good quality product is the best bet for an entrepreneurial venture.
C)   They believe that the venture with the highest projected profit is the best.
D)   They believe that the greater the strength of a venture, the better it is.
E)   They believe that what counts is a person's ability to execute an idea.F) B) and D)
G) B) and C)

Question 19

In the context of successful business models for e-commerce, the _____ model involves charging monthly or annual fees for website visits or access to website content.

Accepted Answer

A)   transaction fee
B)   advertising support
C)   intermediary
D)   affiliate
E)   subscriptionF) B) and E)
G) None of the above

Question 20

"Loading the gun," or lining up ammunition in support of one's idea, is a phrase used by managers at General Electric that parallels which stage of building support for an idea?

Accepted Answer

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

Exam 6: Entrepreneurship

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

In the context of entrepreneurial orientation, which of the following tendencies occurs when an organization is as willing to commit significant resources and perhaps borrow heavily, to venture into the unknown?

Correct AnswerverifiedShow Answer

In the context of successful business models for e-commerce, the _____ model involves charging monthly or annual fees for website visits or access to website content.

Correct AnswerverifiedShow Answer

_____ are new venture creators working inside big companies; they are corporate entrepreneurs, using their company's resources to build a profitable line of business based on a fresh new idea.

Correct AnswerverifiedShow Answer

The odds of survival for a new venture improve if

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

In the context of the entrepreneurial strategy matrix, most small business ventures are in the lower right quadrant where innovation is low and risk is high.

Correct AnswerverifiedShow Answer

Calamities such as wars and natural disasters can provide opportunities for entrepreneurs.

Correct AnswerverifiedShow Answer

_____ offer a way for a business to raise capital through federally registered and underwritten sales of shares in a company.

Correct AnswerverifiedShow Answer

According to Peter Drucker, which of the following statements is true of managing a family business?

Correct AnswerverifiedShow Answer

Informal efforts, as opposed to official job assignments, in which employees work to create new products and processes of their own choosing and initiative refer to

Correct AnswerverifiedShow Answer

How can an entrepreneur generate legitimacy?

Correct AnswerverifiedShow Answer

Organizations that encourage _____ face an obvious risk: the effort can fail.

Correct AnswerverifiedShow Answer

Some say that _____ are slower to act and tend to avoid risk.

Correct AnswerverifiedShow Answer

Which of the following statements is true of entrepreneurship?

Correct AnswerverifiedShow Answer

"Loading the gun," or lining up ammunition in support of one's idea, is a phrase used by managers at General Electric that parallels which stage of building support for an idea?

Correct AnswerverifiedShow Answer

In the context of entrepreneurial orientation, an organization with a tendency of _____ grants individuals and teams the freedom to exercise their creativity, champion promising ideas, and carry them through to completion.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedIn addition to the numbers, th...View AnswerShow Answer

Business incubators, often located in industrial parks or abandoned factories, are

Correct AnswerverifiedShow Answer

In the context of key planning elements, which of the following is true of what venture capital firms consider important for an entrepreneurial venture?

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
In addition to the numbers, th...
View Answer

Correct Answer
verified

Correct Answer
verified