Combo with "Ch 1" and 9 others
Which of the following questions concerning innovation is not relevant
"When the product goes to market?"
The registration of a trademark has a lifetime of
10 years plus a 10 year renewable perios
Design patent protection lasts for _____ years
14
Since the new century the US has had an annual new firm birth rate of
14-16 per 100 existing establishments
Patents that are not design patents have _____ years of protection
20
If 40 percent of the individuals with a net worth in excess of $1 million were interested in venture financing, how many millionaires would be available
200,000
The UFOC contains how many sections
23
What percentage of "angel capital" is devoted to seed a startup venture versus growth financing
5 %
How many people in America have net worth in excess of $1 million
500,000
Gazelles have been responsible for which of the following
55% of innovations
During the past ten years, there were approximately how many business incorporations per year?
600,000
It is reported that _____ new firms have emerged in the United States every year since the early 1990's
600,000
Works created after January 1, 1978, have a copyright for the life of the author plus
70 years
Approximately how many commercial banks are there in this country
8,000
In shaping the ultimate success or failure of a new venture, which of the following statements applies the best
A single strategic variable is seldom responsible
Which of the following statements is true
Both sides of the brain are important to the creative process
_____ was credited with stating, "Individuals are, after all, the energizers of the entrepreneurial process"
Bradley Johnson
When considering bankruptcy, entrepreneurs as sole proprietors normally prefer
Chapter 13
Which of the following helps account for the rise of interest in corporate entrepreneurship
Corporations are now losing some of their best people
Which of the following statements is not true
Creative ideas never come out of the blue
Which of the following is considered a myth of innovation
Creativity relies on blue sky ideas
Which of the following statements is false
Entrepreneurs are born with the skills necessary to manage a business
Small business owners face many day-to-day risks. Which statement is most related to risk
Entrepreneurs run th risk of having an incomplete family experience
Which of the following statements is true
Entrepreneurship is the ability to create and build a vision from practically nothing
_____ is the economic basis for all entrepreneurial activity
Free enterprise
Which of the following is not a question in the corporate entrepreneurial planning process
Have you met government regulations for innovation?
A key question to ask when buying an on-going small business is which of the following
How many personnel are going to remain
Which of the following statements is true
Innovation is the specific function of entrepreneurship
Which of the following statements is true
Innovators rarely work in more than one field
Which is not a cost of franchising
Insurance, payroll, debt service
Which of the following is not an example of recognizing relationships in creativity
Introducing Sierra Mist to the market to compete with Sprite
Which of the following is not considered a principle of innovation
Invest in securities
Which of the following are key questions to ask when screening an idea
Is it proprietary?
Which of the following are questions an entrepreneur can ask to gain insight into the viability of a venture
Is it proprietary?, Are the initial production costs realistic?, and Is the potential market large?
Which is not a key question to ask when buying a business
Is the building heated with gas or electric?
Which is an important question for the entrepreneur to ask when evaluating the venture capitalist
Is the person someone with whom the entrepreneur can work?
Which franchise is not included in the top ten franchises
Jimmy John's
Which of the following economists wrote about entrepreneurship and its impact on economic development
Joseph Schumpeter
Which of the following statements is false
Management skills are not important characteristics for entrepreneurs to possess
Which of the following is a useful rule used to avoid pitfalls in selecting a trademark
Never choose a trademark has a lifetime of
Which economist associated the "risk bearing" activity in the economy with the entrepreneur
Richard Cantillon
SEC stands for the
Security and Exchange Commission
SBIC stands for the
Small Business Investment Co.
The topic of ethics has been important in philosophical thought since the time of
Socrates
Which of the following statements is true
Successful innovations are clear and focused
Which of the following is a true statement about team building
The entrepreneur needs a competent team to implement an idea
Which of the following statements is true
The right brain helps people understand analogies and imagine things
Which of the following statements is not true about venture capitalists
They are more interested in trying to manage the firm themselves than in as or products
Which of the following is not one of the most common questions typically required to be answered by entrepreneurs
What exact date will you repay the money?
Which of the following is not a question commonly asked by banks of entrepreneurs
What interest rate did you have in mind?
Which id one of the seven most important questions for entrepreneurs regarding venture capitalists
What is it like to work with his firm?
Which of the following is NOT a key question a prospective buyer needs to ask in buying a business
What is the owner's personal net worth?
When securing a bank loan an entrepreneur should be prepared to ANS which of the following questions except
What price is the price of your product
Which is NOT a precipitating event that Zahra identifies as motivating the decision to act entrepreneurially
a big increase in earnings
The specification section of a patent application should include all of the following except
a budget for handling infringement
An informal risk capitalist is referred to as
a business angel
Which of the following statements best describes a "gazelle"
a business with at least 20% growth every year
Most innovations result from
a conscious and purposeful search for new opportunities
A solid analysis is
a critical task in starting a new business
All of the following are reasons for the growth of corporate entrepreneurship except
a desire to dramatically increase profitability
The "dark side" of entrepreneurship refers to
a destructive force within the energetic drive of entrepreneurs
The holistic approach is
a dual-focused approach
The franchisee's responsibilities include
a finacial investment, payment of a fee, engaging in a continuous business relationship
A market is
a group of consumers who have purchasing power and unsatisfied needs
Throughout the years, many myths have arisen about entrepreneurship as a result of
a lack of research about entrepreneurship
In an innovative climate, failure is viewed as
a learning experience
An agreement not to compete is also known as
a legal restraint of trade
Which of the following is an aspect of the "dark side" of entrepreneurship
a need for control and a sense of distrust
Informal investors find projects through
a network of friends
A definition of ethics in such a rapidly changing environment must be based more on _____ than on a static code
a process
Evaluation of new-venture proposals includes what processes except
a product prototype
Which of the following is not a trademark
a sales price
Entrepreneurial characteristics include
a strong drive to succeed
What percentage of issues patents is commercially valuable
a very small percentage
When a party seeks to invalidate a trademark by showing that it has not been used for two consecutive years, the party is making use of a legal approach known as
abandonment
Which of the following terms would be associated with the left hemisphere of the brain
abstract
Role failure acts are against the firm and involve
accepting praise not deserved
When this asset is purchased, the buyer should be sure to deduct those so old that they are deemed uncollectible
accounts receivable
Which of the following is not a type of innovation
adaptation
Which of the following are causes of industry and market changes
advancements in technology
Competitor factors in a buying decision do not include
age of the competition's owners
Entrepreneurs are best characterized as
aggressive catalysts for change
Which of the following is a question which can be sidestepped when buying a business
all can be sidestepped
What principle can be applied to the holistic approach
all the above can be applied to the holistic approach
Internet marketing involves sharing information about the company with customers and
allows companies to gather information from customers
What is a holistic management approach
an aesthetic, philosophical perspective, but the understanding of it reminds the administrator that there exist complementary forms of acquiring managerial knowledge
Instead of relying on a set of fixed ethical principles, it is important to develop
an ethical process
Ronstadt notes that the decision to ignore the market is
an extremely risky one
The dilemma of legal versus ethical is due to
an imprecise judicial system
Employee perception of _____ is critical for the success of corporate entrepreneurship
an innovation environment
The entrepreneur should ask the venture capitalist _____ questions
an unlimited number of
All of the following techniques are used in gathering primary data except
analysis of company financial records
What part of the marketing plan emphasizes the factors that contribute to a firm's competitive edge
appraisal of marketing strengths and weaknesses
Entrepreneurs
are driven by intense commitment and perseverance
The four phases in the creative process in order are
background or knowledge accumulation, incubation, idea experience, and evaluation and implementation
Which source of information about entrepreneurial characteristics is direct observation
biographies and entrepreneurs
Copyrights may be expressed in
books, periodicals, motion pictures
Secretly working on new ideas on company time as well as on personal time is referred to as
bootleging
Developing corporate entrepreneurial managers involves teaching them to
break out of the box
Which of the following is a characteristic of creative people
bright but not necessarily brilliant
In the _____ sense, ethics provides the basic rules or parameters for conducting any activity in an "acceptable manner"
broadest
Which of the statements below is not a risk faced by entrepreneurs
business risk
Ethical consciousness is developed
by establishing codes of ethics foe the company
Entrepreneurs themselves perceive the concept of risk in which of the following ways
calculated risk taking
The amount of capital required to start a new venture
can vary considerably depending upon the industry
Which of the following is a way in which a trademark may be invalidated
cancellation proceeding
When seeking to invalidate a trademark, if a third party challenges the mark's distinctiveness within 5 years of issuance, this is known as
cancellation proceedings
Areas of risk to the entrepreneur include
career, family, psychic
The person who has the opportunity to lead and "run" with an idea would be coined which of the following
champion
Business related reasons for selling do not include which of the following
changes in the product supply chain
Marketing segmentation focuses on which variable
characteristics the differentiate consumers
That part of a patent application which identifies the features that are protected are known as the
claim
The two parts to a patent application are specification, and
claims
When trying to invalidate a trademark, if a party seeks to prove that the trademark has not been used within six years of registration, this is known as
cleaning-out procedure
All of the following are ways of invalidating a trademark except
clearing-out proceedings
A statement of ethical practices or guidelines to which an enterprise adheres is termed a(n)
code of conduct
The most common source of debt financing is
commercial banks
Characteristics often attributed to the Entrepreneur include
commitment, determination,and perseverance
Which of the following is a type of equity financing
common stock
The franchisor's responsibilities include providing
company name, symbols and logos, management and training
Entrepreneurs with a drive to achieve want to
compete
Which of the following influences the choice of marketing philosophy
competitive pressure
In defining research objectives, the entrepreneur should include
consumer tastes
Which of the following is a marketing philosophy
consumer-driven philosophy
The form of legal protection that computer programs fall under is
copyrights
Intrapreneurship is also referred to as
corporate entrepreneurship
3M's Post-it note is an example of the
corridor principle
One could correlate _____ with a high energy level
creativity
The emerging body of law governing cyberspace is often referred to as
cyberlaw
Which of the following is not a strategy for corporate entrepreneuring
decrease the use of third-party contracts
Which of the following factors affects pricing strategies
degree of competitive pressure
Which of the following are the two major variables needed to identify specific market sements
demographic and benefit
Retirement centers for older people reflect which source of innovation
demographic changes
Which is not a start-up expense
depreciation
The person who gets the franchise is usually required to do all of the following except
design a logo for the unit
Which is NOT one of the chief characteristics of an entrepreneur
desire for control of people
The second step in planning a strategy of entrepreneurship for the enterprise is
developing and encouraging innovation
Precipitating events in the corporate entrepreneurship process could include
development of new technologies
The greatest future benefit from marketing on the internet lies in
direct selling
Today's entrepreneurs are faced with many eithical decisions, especially during the _____ stages of their new venture
early
Qualities such as innovation have produced complex trade-offs between _____ and social welfare
economic profits
The displacement school of thought can be divided into which three groups
economic, cultural, and political
Which of the following mental habits inhibit creativity and innovation
either/or thinking, sterotyping
Which of the following will help to foster an innovative climate
encourage action from employees
The major thrust of corporate entrepreneurship is to
encourage innovation
According to the Model of Entrepreneurial Motivation, when outcomes meet or exceed expectations, the _____ is positively reinforced, and the individual is motivated to continue to behave entrepreneurially
entrepreneurial behavior
When outcomes meet or exceed expectations, _____ is positively reinforced
entrepreneurial behavior
Entrepreneurs are more accurately depicted by which of the following
entrepreneurs are calculated risk takers
Which is a true statement about entrepreneurs
entrepreneurs are doers and thinkers
Which statement is not true
entrepreneurs do not hold up in today's competitive market
One trait not common in entrepreneurs is
entrepreneurs need structure
Which of the following is not a common myth about entrepreneurs
entrepreneurs today are considered heroes
Which of the following is not associated with an entrepreneur seeking feedback
entrepreneurs want to belittle their competition
In the evolutionary process of economic growth,_____ plays the crucial and indispensable role of providing the "social glue" that binds together both high-tech and "Main Street" activities
entrepreneurship
In the study of contemporary entrepreneurship, one concept reoccurs
entrepreneurship is interdisciplinary
At start-up time, forms of financing includes all but which of the following
equitable payback
Which of the following is (are) sources of capital for entrepreneurs
equity
Business decisions are complex for all of the following reasons except
ethical decisions have certain ethical consequences
When establishing a strategy for ethical responsibility, entrepreneurs should examine the
ethical process and structure of the venture
The final critical factor in the marketing-planning process is
evaluation
Which is not a stage of the evaluation process
evaluation of the business plan
Process needs
exist when and entrepreneur can meet a new source of demand
Secondary data consists of
existing information
The process of trademark registration is
expensive
Ray Kroc's development of McDonald's would be a good illustration of which form of innovation
extension
The macro view of entrepreneurship presents factors exhibiting a strong
external locus of control
A person who loses an infringement battle in court may have to pay
extra legal fees
When accounts receivable are bought form a company for capital funding it is called
factoring
With psychic risk you fear
failure
One factor not found in high achievers is
failure to listen to feedback
Because of the _____ doctrine, it is sometimes difficult to establish infringement
fair use
An approach developed as a criteria selection list from which entrepreneurs can gain insights into the viability of their venture is the
feasibility criteris approach
_____ people thoroughly understand the concept of corporate entrepreneurship
few
Which of the following would be most commonly used for medium-term financing
finance companies
What is an often overlooked asset when acquiring a new business
firm's records
The sales-driven philosophy
focuses on personal selling and advertising to persuade customers to buy the company's output
Which of these forms are not required by SEC
form 4-V
A _____ is a system of distibution that enables a supplier to arrange for a dealer to handle a specific product or service under certain mutually agreed upon conditions
franchise
The individual who buys the franchise is the
franchisee
The individual who arranges for a dealer to handle a specific product or service under certain mutually agreed upon conditions is known as the
franchisor
In the present century, which of the following is entrepreneurship considered synonymous with
free enterprise
In our present century, entrepreneurship has become synonymous or closely linked with
free enterprise and capitalism
Which of the following is not a trait of successful entreprenerus
frustration
There are four major trends in the venture capital field today. They include all of the following except
funds are less specialized and more homogenous
One step an organization can take to make its corporate environment more innovative is to
gain top management support of an entrepreneuring program
Market feasibility analysis relies on
general economic trends and competitor data
Entrepreneurs always
generate ideas and plan for their implementation
There are conflicting needs in the free enterprise system between
generation of profits and integrity
When a trademark becomes the name of a general group of products or services, the trademark protection may be lost because of
generic meaning
which of the following is not a trademark
generic words
The best antidote for relieving the stress involved with total immersion in business is
getting away from it all
Ethics represents a set of principles prescribing a behavioral code that explains what is
good and right & bad and wrong
In focusing on an ethical position for entrepreneurs, high moral standards should be viewed as
good business
A franchise system can be used for handling
goods and services
The extra value a business can command in a sale is known as
goodwill
Which of the following is an intangible asset
goodwill
In starting or buying a new business, the higher the rewards, the
greater the risk
Unethical behavior takes place because of
greed
Which of the following are trends creating business opportunities
green products, alternative energy, health care
Entrepreneurial stress can be caused by having a type A personality which can be defined as
having a chronic sense of time urgency
The primary reason many entrepreneurs fail to use marketing research is
high cost
Key features in the success of any innovation program include all of the following except
high profitability
The type of venture that is expected to attract venture capital would most likely be a
high-growth venture
Many ventures fit into which of the following classifications
high-growth ventures
Sometimes, consumers associate a higher price with
higher quality
The phase of the creative process when the idea or solution the individual is seeking is discovered is the
idea experience
Copyrights can be placed on all of the following except
ideas
Items that can qualify for patent protection include all of the following except
ideas
The "corridor principle" is best described by which of the following statements
if at first you don't succeed, try, try, again
Which of the following is not a way to combat stress
ignoring coping mechanisms
A decision to sell pharmaceuticals that have not been cleared with the Federal Drug Administration is an example of a(n)
illegal and unethical decision
According to the text, what is the most ironic type of stress
immersion in business
Which of the following statements is true of the recent developments in the venture capital market
in 1994 VC firms invested 20.9 billion dollars
Which of the following are major reasons for the failure of a new venture
inadequate market knowledge
Poor financial understanding for an entrepreneur would be characterized by which of the following
inadequate understanding of costs and funding requirements
When developing a survey, you should consider
including questions only pertaining to the study
Which of the following is a demographic variable
income
A gap or difference between expectations and reality defines
incongruities
Overnight package delivery can be an illustration for which source of innovation
incongruities
Which of the following can help carry out the evaluation and implementation stage
increasing energy level
Which of the following terms represents the systematic evolution of a product or service into newer or larger markets
incremental innovation
Shifts in consumer tastes and attitudes are an example of
industry and market changes
The consequences of ethical decisions may affect all of the following except
industry climate
A common human resource problem is
inflated owner ego
Anyone who violates an author's exclusive rights under a copyright is liable for
infringement
Entrepreneurial traits include which of the following
initiative
Which of the following are keys to understanding opportunity and its development for entrepreneurs
innovation and creativity
Most entrepreneurs should be categorized as
innovators
Corporate entrepreneurial activity takes place _____ the firm
inside
Regulation D replaces the term "sophisticated investor" with the term "accredited purchaser" Included in this second category is/are
institutional investors
Brazeal's model for internally developed corporate entrepreneurial ventures emphasizes
institutionalized innovation
When starting a business, which of the following sources of financing are least likely to be used
insurance companies
Which of the following would be most commonly used for long-term financing
insurance companies
Which of the following costs add to the cost of franchising
insurance, payroll, legal and professional fees
The study of entrepreneurship is
interdisciplinary
If an entrepreneur believes in himself/herself and that their accomplishments and setbacks are within their own control, they possess a(n)
internal locus of control
When entrepreneurs believe that their accomplishments and setbacks are within their own control and influence they are exhibiting
internal locus of control
Which of these is the most expensice to conduct
interviews
Internal venture capital that is set aside for special entrepreneurial projects is termed
intracapital
The four types of innovation include which of the following
invention, extension, synthesis, duplication
Team building
involves including qualified people in the venture
Improving the moral climate of the new venture
is good business
The purpose of marketing research
is to identify customer's target markets and to fulfill their desires
Which of the following statements is one of the four rationalizations that managers use in justifying questionable conduct
it is in the individual's or corporation's best interest
Which of the following is a true statement about raising capital
it often takes a great deal of time
People practice the creative search for background knowledge in which of the following ways
join professional groups and organizations & attend seminars or professional meetings
Sources of information available to entrepreneurs include
journals
Sustaining corporate entrepreneurship requires
keeping the corporate vision strong
Which of the following is not one of the four major traits that characterize the "dark side" of entrepreneurs
knowing when to take a vacation
Which of the following is not a common characteristic of entrepreneurs
lack of motivational drive
Name the pitfall described by the statement, "Engineers and technically trained people are particularly prone to falling in love with an idea for a product or service"
lack of objective evaluation
Money is necessary but not sufficient for entrepreneurs to survive because
lack of preparation and planning can be a main source of failure
Legal requirements as set by the law, often _____ acceptable moral standards of society
lag behind
Which of the following would be last to adopt a new product
laggards
All of the following are examples of consumer types except
late adopters
Bureaucrats in an organization must
learn to give way to intrapreneurs
Logical, analytical skills are developed by the
left hemisphere of the brain
For the entrepreneur the dilemma of _____ versus ethical is a vital one
legal
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)
legal and unethical decision
Many medical researchers believe that the sale of cigarettes is a(n)
legal and unethical decision
An infringement budget deals with
legal battles
What is a critical consideration when assessing customer availability
length of time needed to determine who the customers are and what their buying habits are
The incubation process involves which of the following
letting the subconscious work
Independence and autonomy are the major driving forces behind which of the following types of ventures
life-style ventures
Relying on abstractions can
limit one's perception of reality
Which of the following is not an Internet marketing advantage
limited target audience
Among the numerous advantages of Internet marketing, two major concerns have arisen
limited target audience and consumer resistance to change
Which of the following terms would not be associated with the right hemisphere of the brain
linear
Which is not one of the major sections of the bankruptcy act
liquidation
Which of the following is an indicator that an etrepreneur's business is failing
liquidation
One of the advantages of public offerings is
liquidity
Which of the following best describes the strategy of moral management
live by sound ethical standards
The four major causes of entrepreneurial stress are
loneliness, immersion in business, people, need to achieve
When referring to "luck" and an entrepreneur, which of the following statements in an appropriate adage
luck happens when preparation meets opportunity
Which one of these typically has the lowest response rate
mail survey
Surveys include contact by
mail, telephone, and personal interviews
The main objective of regulation D is to
make it easier and less expensive for small ventures to sell stock
Venture capitalists are experienced professionals who provide a full range of service for new ventures including
management consulting
Which of the following best describes immoral management in terms of ethical norms
management decisions are discordant with accepted ethical principles
Which of the following characteristics is most important to an entrepreneur
management skills
In order to develop an entrepreneurial environment, factors that organizations need to be aware of include
management support and rewards & autonomy and time
The entrepreneur is one who
manages
One of the external problems new ventures face is
market knowledge
Timing is especially critical in which area
marketing
The key to marketing analysis is
marketing research
Which of the following is part of the marketing planning process
marketing research
Which is a key factor in successful entrepreneurship
minimizing problems through careful strategy formulation
Have a seller retain a _____ interest in the business
minority
Ethical business decisions often have _____ outcomes
mixed
The Greek word ethos means
mode of conduct
The process approach to entrepreneurship seeks to
model the various factors that characterize the entrepreneurial process
A patent gives the holder a temporary
monopoly
A trademark is a distinctive _____ that is identified with a company's product
name
Many new ventures find that debt financing is
necessary
Legal requirements tend to be _____; morality tends to be _____
negative because they forbid certain acts; positive because it encourages certain acts
Authoritarian management is being replaced by
networking
Stress can be dealt with by
networking and delegating
The _____ approach indicates the importance of people's awareness of their daily lives for developing new business ideas
new-new
When one designs a unique good or service, the individual is said to have used a(n) _____ approach to starting the business
new-new
Coming up with a unique good or service is a _____ approach, while adapting something that is currently on the market or extending the offering to an area where it is not presently available is a(n) _____ approach
new-new, new-old
"Piggybacking" one's way into business involves using a _____ approach
new-old
Starting a business by adapting something already on the market is called what approach
new-old
Legal behavior represents
none of the above
Equity capital is
not a loan but a form of stock
Many entrepreneurs lack _____ for their new venture
objectivity
Some ways to develop a creative mind include
observing other entrepreneurs
One research model illustrated the process of entrepreneurship as an interaction of which elements
organization, individual, precipitating event
A typical symptom of impending bankruptcy failure is when
other firms seem to be selling products that are a generation ahead
What characteristic(s) that propel entrepreneurs into success can be exhibited to the "extreme"
overbearing need for control
Michael Gerber's book "The E-Myth" explains the failure of most small businesses is due to
owners being more technicians rather than entrepreneurs
Short-term debt is
paid back in one year
Entrepreneurs now view social/environmental issues as
part of the future of business
The person who sells the franchise is usually required to do all of the following except
pay a fee
Which of the following statements is true
people can learn to be creative
Which of the following satements is true with regards to creativity
people's process will remain the same, but their approach will change
Moving from an immoral or amoral position to a moral positoin requires a great deal of _____ effort
personal
The SEC regulation D exemptions include all of the following except
placements in excess of $10 million
A common pitfall in selecting a new venture is
poor financial understanding
When premature entry into the marketplace causes the failure of a new venture, it can be termed
poor timing
Every person has the _____ and _____ to pursue a career as an entrepreneur
potential; free choice
Three specific phases that a new venture goes through are
pre-start-up, start-up, post-start-up
Which one is not one of the phases in the creative process
preliminary investigation
Which of the following costs do not add to the cost of franchising
prepaid utility bills
To effectively pursue a patent, experts recommend that the entrepreneur
prepare a realistic budget for infringement
When a customer sees a product that is superior to its competitors, _____ becomes less important
price
When buying a business, competition must be investigated because
price competition may affect profits, new competition may reduce market share, competition may be spending more money on advertising than you
General sources for a market feasibility analysis include
pricing data
A potential entrepreneur needs to realize that
principles of innovation can be learned
What is the largest source of new business ideas among men
prior job
What is the largest source of new business ideas among women
prior job
Which of the following is not a type of debt financing
private placement
The two most important aspects of creativity are
process and people
Bruno identifies which of the following as a factor contributing to new venture failure
product/market problems
What part of the marketing plan strategies begins with identifying the end users, wholesalers, and retailers, as well as their nees and specifications
product/service
In restructuring corporate thinking, top management should
promote entrepreneurship through experimentation
Which of the following may be the greatest risk to the well-being of the entrepreneur
psychic risk
Equity capital is often raised through
public stock offerings
Biographies, journals, and periodicals are examples of what research source
publications
In following the rules for innovation, a manager should do all of the following except
punish failure
All of the following are important characteristics for establishing an intrapreneurial climate except
punishment of mistakes
If an entrepreneur concludes that the innovation will withstand my legal challenge, a patent should be
pursued
Traditional marketing techniques tend to be _____ oriented, while the Internet is _____ oriented
push, pull
The Entrepreneurial Assessment Approach stressed that assessments must be made_____ in regard to the entrepreneur, the venture, and the environment
qualitatevly and quantitatively, & strategically and ethically
All of the following are managerial approaches to ethics except
quasi-moral
Which of the following is not a form of displacement in the displacement school of thought
racial
Which of the following terms represents the inaugural breakthroughs launched from experimentation and determined vision
radical innovation
Rapid technological advances in many industries cause a concern for _____ in new venture development
rapid product obsolescence
Rationalizations for unethical behavior often appear _____, given the behavior of many business enterprises today
realistic
An advantage to buying an on-going business is
reduced concern over future operations, time and effort are reduced, it may be purchased at a bargain price
A disadvantage of debt financing is
regular interest payments
Advantages of debt financing include all of the following except
regular interest payments
In recent studies of new venture problems, the most dominant problems during the growth stage were
regulatory environment
Typically, when faced with setbacks or failure, entrepreneurs
remain optimistic and view it as a learning experience
Researchers have described a "fully developed new firm" with a number of characteristics including
requires the full time commitment and has formal financial support
Success of the corporate entrepreneurship plan depends on
resources provided by the firm
All of the following are characteristics of a creative climate except
restricted communication with outsiders
Rewards should be based upon _____ to encourage the desired behavior
results
A marketing information system compiles and organizes data relating to _____ from the customer base
revenue
Which of the following is not a method of collecting primary data
review of government publications
When one discusses upside gain and downside loss, one is talking about
risk versus reward
Price fixing is a form of
role assertion
Morally questionable acts committed on behalf of the firm are termed
role distortion
Morally questionable acts committed against the firm are termed
role failure
One study developed a typology of morally questionable acts that included which of the following distinctions
role failure
Regulation D defines three separate exemptions that are based on the amount of money being raised. Which is not a rule that accompanies these exemptions
rule 503
The inventory should be examined for which for which of the following
salability, does a physical count correspond with the book count?, is it up to date?
What element promotes and distributes products according to market research findings
sales research
In recent studies of new venture problems, the most dominant problems at start-up were
sales/marketing
Entreprenuers with a sense of distrust
scan the environment
A person can develop their own creativity by
seeing new and different relationships in people, objects, and places around them
The owner of the copyright may do all of the following except
sell the rights for a period of 200 years
The first step in planning a strategy of entrepreneurship for enterprise is
sharing the vision of innovation
Products that consumers will take time to examine carefully and compare for quality and price are
shopping goods
Which of the following traits is not that of an entrepreneur
shyness
Most successful innovations are
simple and focused
When going public with public offerings an advantage might be
size of the company's capital amount
Which of the following is not a key factor affecting a marketing information system
size of the system
Groups that function outside traditional lines of authority permitting rapid turn around of new ideas as well as instilling a high level of group loyalty are called
skunkworks
Financial considerations play a major role in
smaller profitable ventures
One researcher established a framework that classified social actions of corporations into distinct categories that included
social obligation and social responsiveness
The most pro-active position for a corporation to take in regard to social responsibility would be termed
social responsiveness
Which of the following causes conflict over the ethical nature of decisions
society undergoing dramatic change
The requirements of law may overlap at times but they do not duplicate the moral standards of society because
some laws have no moral content whatsoever
Products or services that consumers make a special effort to find and purchase are
specialty goods
The text of a patent application is know as the
specification
There are two parts to a patent application, claims and
specification
Long-term debt is used for
start-up capital and funding for purchase of property or equipment
Sales growth is a critical factor in the
start-up phase
Which of the following is a complex marketing research technique
statistical analysis
In the Monroy-Folger Model of Risk Typology, profit-seeking activity is associated with
strong desire to maximize profit
Which of the following is NOT a source of stress
success in business
The combination of existing concepts and factors into a new formulation would define which of the following terms
synthesis
The entrepreneurial ego can cause the entrepreneur to
take characteristics that usually lead to success to the extreme
Which of the following can help speed up the idea process
taking breaks while working
For the author of creative material to obtain a copyright, the material must be in _____ form
tangible
One reason why corporate entrepreneurship has done so well is that it allows organizations to
tap the innovative talents of their people
Which of the following publications deal with research methodology and are tightly structured
technical and professional journals
Functional design of the product and attractiveness in appearance are an aspect of
technical feasibility
Product design, reliability, and safety are all examples of
technical feasibility
In order to obtain a patent, an application should be filed with
the Patent and Trademark Office of the Department of Commerce
When going public some specific detailed information that must be presented includes
the capital structure of the company
Criteria that venture capitalists use in evaluating new venture proposals include
the characteristics of the product or service
Lack of finished product availability can affect
the company's image and the success of any venture
Hiring and promotions on the bases of nepotism rather than qualification fall under the managerial problem of
the concept of a team approach
In attempting to create an entrepreneurial climate, the organization should consider that
the corporations that promote personal growth will attract the best people
The statement, "with every new venture launched, new and uninteded opportunities often arise," would be associated with
the corridor principle
Which of the following fall under Chapter 7 bankruptcy
the debtor is relieved of obligations
Generally, entrpreneurial stress is due to
the discrepancy between the entrepreneur's expectations and the ability to meet demands
Which of the following schools of thought is NOT a micro view school of thought
the displacement school of thought
Robert C. Ronstadt put together a summary definition of entrepreneur that included which of the following key phrases
the dynamic process of creating invremental wealth
The determination of fair use of copyrights is based on
the effect of use on potential market
Criteria for evaluating new-venture proposals include all of the following except
the entrepreneur's age
During the 1990s, which new issue emerged as affecting entrepreneurs and ethics
the environment
The entrepreneurial motivations of individuals usually relate to which of the following factors
the environment, the entrepreneur, and the venture
The macro view can be broken down into which three areas
the environmental, financial, and displacement
The idea experience phase of creativity is also referred to as
the eureka factor
A checklist approach allows the entrepreneur to identify major strengths and weaknesses in _____ factores of a new venture
the financial, the marketing, and the organizational
Which of the following is an advantage to developing an entrepreneurial environment
the firm helps to retain and motivate the best employees
Evaluating franchise opportunities include finding out more about which of the following
the franchisor, the franchise, the franchisee
The "right questions" the prospective small business owner should ask about a franchise deal with
the franchisor, the franchise, the market
The decision to behave entrepreneurially is the result of the interaction of
the individual's personal entrepreneurial mindset and an opportunity
Entrepreneurs will always be
the major source of job creation and innovation in any economy
A recent survey found that _____ of executives had a code of conduct for their company
the majority
Business related reasons for selling may include all but which of the following
the owner may be in trouble with suppliers, changes in leasehold conditions, changes in zoning which affect the business
When buying a small business you need to know all of the following items except
the owner's family stability and relationships
Who must negotiate the final deal
the potential buyer
The results of a profile analysis enable the entrepreneur to judge
the potential of the business
The comprehensive feasibility approach is closely related to
the preparation of a thorough financial plan
Ethical process and structure refers to _____ that are designed to avoid ambiguity
the procedures
Market segmentation is
the process of identifying a specific set of characteristics that differentiate one group of consumers from the rest
Which evaluation method enables an entrepreneur to judge the potential of the business
the profile analysis
Which of the following was one of the factors Drucker mentions to explain the development of the entrepreneurial economy
the rapid evolution of technology and knowledge
Under copyright law, which of the following are the rights of the owner
the right to reproduce work
Entrepreneurship within the corporate structure allows employees to develop their ideas without
the risk associated with leaving the company
Venture proposals are often rejected due to significant deficiencies in
the size of the proposal and financial projection
The micro view is divided into which three theories
the venture opportunity theory, entrepreneurial, strategic
A clear pattern among successful entrepreneurs is
their focus on opportunity rather than resources
Which of the following is a false statement about entrepreneurs
they do not use failure as a tool for learning
With persistent problem solving, entrepreneurs
think anything is possible
Successful entrepreneurs are able to identify
those ideas that are workable and that they have skills to implement
A new venture must go through _____ phases
three
In determining the potential market, one must look _____ into the future
three to five years
Failure of a new venture can be avoided
through a careful profile analysis
Which of the following is critical to a product's success
timing, marketing approach, and objectivity
The word entrepreneur is derived from the French entreprendre, which is translated as
to compete
Michael Gerber has written a book titled, "The E-Myth" where he contends
today's business owners are not true entrepreneurs
Which of the following are innovative rules that the 3M Corporation uses to encourage its employees to foster ideas
tolerate failure
Which of the following are specific factors identified by researchers, that organizations can concentrate on in structuring an entrepreneurial climate
top management support, time, resources, rewards, and organizational boundaries
Which of the following is NOT a disadvantage of a major franchise
track record of the franchisor
When starting a business, which of the following sources of financing are most likely to be used
trade credit
Which of the following would be most commonly used for short-term financing
trade credit
The adverse impact of _____ can be so destructive that individuals within the enterprise will tend to avoid entrepreneurial behavior
traditional management techniques
Which of the following is an obstacle to corporate entrepreneurship
traditional management techniques
An advantage associated with franchising is
training and guidance provided by the franchisor, brand-name appeal of the franchise, track record of the other franchisees as proof of success
The advantages of franchising include
training and guidance, brand-name appeal, proven track record
Which is not a trait of successful entrepreneur
trouble fitting in
Creativity is most likely to occur when the "climate" is right. Whatis a characteristic of that climate
trustful management that does not exert strict control over employees
Security hunting is
trying to make the right decision or take the correct action
Morals and law are not synonymous but may be viewed as _____ circles that are partially superimposed upon each other
two
Product/market problems include which of the following
unclear business definition
Entrepreneurs and gazelles have been credited with making disproportionate contributions to all but which of the following
unemployment
Which of the following are sources of innovation
unexpected occurrences and incongruities
Innovative factors identified by James Brian Quinn tha exist in large organizations experienced in successful innovation include all of the following except
uniform compensation
Which of the following would not be considered as encouraging to an entrepreneurial environment
uniform compensation
A new venture should be
unique
Mountain gap strategies refer to
unique markets
Which of the following does not apply to the strategic formulation school of thought
unique places
Water well strategies refer to
unique resources
During the pre-start-up phase of a new venture, which of the following are among the crucial five factors for success
uniqueness of venture and expected growth
An analysis of the competition should look for
unscrupulous practices
Using the "Failure Prediction Model" illustrated in the chapter, the risk of failure can be reduced by
using less debt as initial financing and generating revenue in the initial stages
Security hunting means
using probability and sterotypes to minimize risk
A change in society may result in a change in
values
Many entrepreneurs lack
venture uniqueness
Corporate entrepreneurial strategy should be thought of as
vision directed
Which of the following are suggestions to minimize legal costs
visit the lawyer during normal hours
Which is not a source of entrepreneurship research
water cooler conversation
Entrepreneur sense potential in business problems by asking
what if and why not?
For entrepreneurs, vision describes
where the entrepreneur wants to go
Reviewing personnel of the business about to be purchased is important in order to determine
whether employees with key skills will stay or leave, if employees are leaving will enough remain to operate the business, the cost of replacing an employee
Which is not a factor in the Model of Entrepreneurial Motivation
winning awards
Which is not a source of information in an entrepreneurial profile
word of mouth
In the incubation process, ways of getting away from a problem include
working on something else
After all of your investigation into a franchise, the final decision should be up to
you