Question 1

Companies should tolerate some _____, and some even encourage it.

Accepted Answer

A)   bootlegging
B)   entreprenuerial orientation
C)   competitive aggressiveness
D)   risk-taking
E)   horse tradingF) All of the above
G) B) and D)

Question 2

The side street effect refers to

Accepted Answer

A)   the appearance of unexpected opportunities as one follows a plan.
B)   a corporate spin-off not sanctioned by the corporation.
C)   using corporate resources to pursue entrepreneurial activities.
D)   the entrepreneurial ventures that are marginally successful but never experience significant growth.
E)   the lack of focus seen in many entrepreneurs.F) A) and D)
G) A) and E)

Question 3

_____ create new independent businesses with the benefit of corporate support.

Accepted Answer

A)   Corporate managers
B)   Intrapreneurs
C)   Observers
D)   Franchisors
E)   FranchiseesF) C) and D)
G) All of the above

Question 4

When a business goes wrong, ______ are less helpful and less likely to advance more money.

Accepted Answer

A)   nonprofessional investors
B)   professional investors
C)   sophisticated investors
D)   money managers
E)   stock tradersF) B) and E)
G) B) and C)

Question 5

_____ is an enterprise having fewer than 100 employees, independently owned and operated, not dominant in its field, and not characterized by many innovative practices.

Accepted Answer

A)   A nonprofit organization
B)   A small business
C)   A greenfield venture
D)   An entrepreneurial venture
E)   An incubatorF) A) and B)
G) C) and D)

Question 6

Yvette, a manager, decides to offer her support to Jonny, one of her subordinates, on a new project in exchange for a share of the payoffs. In the context of entrepreneurship, this practice is known as

Accepted Answer

A)   making cheerleaders.
B)   bootlegging.
C)   horse trading.
D)   clearing the investment.
E)   getting the blessing.F) A) and B)
G) All of the above

Question 7

Describe the differences between entrepreneurs, inventors, promoters, and managers.

Accepted Answer

Successful entrepreneurs are innovators ...

Question 8

A description of the good or service, an assessment of the opportunity, an assessment of the entrepreneur, and specification of activities and resources needed to translate one's idea into a viable business, and one's sources)  of capital together make up an)

Accepted Answer

A)   value chain.
B)   control system.
C)   opportunity analysis.
D)   business audit.
E)   organization chart.F) A) and E)
G) D) and E)

Question 9

Identify the correct statement regarding entrepreneurship.

Accepted Answer

A)   Entrepreneurs are gamblers.
B)   Entrepreneurs are their own bosses and independent.
C)   Entrepreneurs experience stress, but they also have high job satisfaction.
D)   Entrepreneurs seek power and control over others.
E)   If an entrepreneur is talented, he or she will quickly succeed.F) All of the above
G) B) and E)

Question 10

An entrepreneur is not a manager but engages in additional activities that all managers do.

Accepted Answer

A) True 
 B)False

Question 11

According to the entrepreneurial strategy matrix, Liz's venture can be described as

Accepted Answer

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

Question 12

Albert works as a technician for a large manufacturer of biomedical equipment. He has discovered a technique to produce composite materials more efficiently. The company encourages its employees to pursue new ideas on company premises. Which of the following does Albert's company support?

Accepted Answer

A)   bootlegging
B)   skunkworks
C)   spin-offs
D)   delegation
E)   corporate espionageF) B) and E)
G) A) and E)

Question 13

Valeria has been planning to open a child care center and has been asked by the small business center to create a document that includes the market, strategies, and future directions. This document is called an)

Accepted Answer

A)   initial public offering.
B)   income statement.
C)   balance sheet.
D)   business plan.
E)   opportunity analysis.F) A) and E)
G) A) and D)

Question 14

List and describe the differences between the transaction fee model and the intermediary model using examples.

Accepted Answer

The transaction fee model invo...

Question 15

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

Accepted Answer

At least five succes...

Question 16

All of the businesses in Scenario B were started by entrepreneurs who were able to spot an)

Accepted Answer

A)   adventure.
B)   opportunity.
C)   risk.
D)   gamble.
E)   benchmarking target.F) A) and D)
G) A) and C)

Question 17

Entrepreneurs experience stress, but they also have high job satisfaction. They tend to be

Accepted Answer

A)   less healthy and more likely to retire than those who work for others.
B)   more healthy and more likely to retire than those who work for others.
C)   more healthy and less likely to retire than those who work for others.
D)   less healthy and less likely to retire than those who work for others.E) B) and C)
F) A) and D)

Question 18

Which of the following characteristics 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)   prevention of constructive criticismF) A) and E)
G) C) and D)

Question 19

Entrepreneurs start their own firms for all of the following reasons except

Accepted Answer

A)   the challenge
B)   the profit potential
C)   the enormous satisfaction
D)   the great idea
E)   the hope that lies ahead.F) All of the above
G) A) and B)

Question 20

____ comes from people's judgment of a company's acceptance, appropriateness, and desirability, generally stemming from company goals and methods that are consistent with societal values.

Accepted Answer

A)   Social capital
B)   Bootlegging
C)   Legitimacy
D)   The strategic window
E)   The side street effectF) A) and E)
G) A) and B)

Exam 6: Entrepreneurship

List and describe the differences between the transaction fee model and the intermediary model using examples.

Correct AnswerverifiedThe transaction fee model invo...View AnswerShow Answer

When a business goes wrong, ______ are less helpful and less likely to advance more money.

Correct AnswerverifiedShow Answer

Valeria has been planning to open a child care center and has been asked by the small business center to create a document that includes the market, strategies, and future directions. This document is called an)

Correct AnswerverifiedShow Answer

The side street effect refers to

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedAt least five succes...View AnswerShow Answer

A description of the good or service, an assessment of the opportunity, an assessment of the entrepreneur, and specification of activities and resources needed to translate one's idea into a viable business, and one's sources) of capital together make up an)

Correct AnswerverifiedShow Answer

Albert works as a technician for a large manufacturer of biomedical equipment. He has discovered a technique to produce composite materials more efficiently. The company encourages its employees to pursue new ideas on company premises. Which of the following does Albert's company support?

Correct AnswerverifiedShow Answer

All of the businesses in Scenario B were started by entrepreneurs who were able to spot an)

Correct AnswerverifiedShow Answer

Yvette, a manager, decides to offer her support to Jonny, one of her subordinates, on a new project in exchange for a share of the payoffs. In the context of entrepreneurship, this practice is known as

Correct AnswerverifiedShow Answer

Identify the correct statement regarding entrepreneurship.

Correct AnswerverifiedShow Answer

Which of the following characteristics helps an entrepreneur succeed?

Correct AnswerverifiedShow Answer

_____ create new independent businesses with the benefit of corporate support.

Correct AnswerverifiedShow Answer

An entrepreneur is not a manager but engages in additional activities that all managers do.

Correct AnswerverifiedShow Answer

According to the entrepreneurial strategy matrix, Liz's venture can be described as

Correct AnswerverifiedShow Answer

Describe the differences between entrepreneurs, inventors, promoters, and managers.

Correct AnswerverifiedSuccessful entrepreneurs are innovators ...View AnswerShow Answer

Companies should tolerate some _____, and some even encourage it.

Correct AnswerverifiedShow Answer

____ comes from people's judgment of a company's acceptance, appropriateness, and desirability, generally stemming from company goals and methods that are consistent with societal values.

Correct AnswerverifiedShow Answer

Entrepreneurs experience stress, but they also have high job satisfaction. They tend to be

Correct AnswerverifiedShow Answer

_____ is an enterprise having fewer than 100 employees, independently owned and operated, not dominant in its field, and not characterized by many innovative practices.

Correct AnswerverifiedShow Answer

Entrepreneurs start their own firms for all of the following reasons except

Correct AnswerverifiedShow Answer

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The transaction fee model invo...
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At least five succes...
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Successful entrepreneurs are innovators ...
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