Chapter 6

Which of the following questions should Lucia answer "yes" to?

-Are you willing to give up spending time with friends and family to work on the business? -Do you think your success will be based on hard work rather than luck? -Are you driven by a desire to accomplish goals?

Norah makes personalized baby blankets. Online shoppers love the simple navigation and can easily order a personalized blanket and are able to choose from over 50 fabrics and 10 monogram styles. This is an example of:

Creating a professional Web site

Sandy is considering beginning an online business. Her idea is to be an assistant for hire. Busy professionals can schedule her to run errands in two hour time slots. This is an example of:

Finding a marketing niche

According to the U.S. Census Bureau's Survey of Business Owners, the number of minority owned companies in the United States has increased from 5.8 million in 2007 to 8 million in 2012. Which of the following ethnic groups showed the largest increase in business ownership?

Hispanic

Your company, a leading provider of disposable diapers, wipes, and other childcare products, would like to begin a program which encourages stay-at-home mothers to become entrepreneurs and business owners. Your company would like to provide information and support to women who have innovative product or business ideas, but are unaware on how to start their own business or market their products. The Human Resources Director has asked you to serve on the committee. Using your knowledge of minority-and women-owned businesses, which of the following suggestions would be effective in helping your intended audience?

-Offer classes on leadership and management to program participants. -Partner with female small business owners that can mentor program participants. -Partner with minority-owned small businesses that can offer advice and mentor program participants.

Which of the following psychological characteristics are associated with entrepreneurship?

-high energy level -autonomy -need to achieve

In Jeff Bezos' early days at Amazon, he worked 12-hour days every day of the week to get books shipped. Jeff would fit into the ___ category of entrepreneurs.

hard worker