entr 321 chap 1-8

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

The franchisee's responsibilities include:

-a financial investment -payment of a fee -engaging in a continuous business relationship

The franchisor's responsibilities include providing

-company name -symbols and logos -management and training

Which of the following costs add to the cost of franchising?

-insurance -payroll -legal and professional fees

The inventory should be examined for which of the following?

-salability -correspondence between the physical count and the book count -up-to-datedness

Long-term debt is used for

-start-up capital -purchase of property or equipment

Evaluating franchise opportunities include finding out more about which of the following?

-the franchisor -the franchise -the franchisee

The "right questions" that a prospective owner should ask about a franchise deal with

-the franchisor -the franchise -the market

Venture proposals are often rejected due to significant deficiencies in

-the size of the proposal -financial projections

Business-related reasons for selling may include all except:

-trouble with suppliers -changes in leasehold conditions -changes in zoning that affect the business

Reviewing personnel of the business about to be purchased is important in order to determine

-whether employees with key skills will stray or leave -if employees are leaving, will enough remain to operate the business -the cost of replacing an employee

The FDD contains how many sections?

23

gazelles have been responsible for:

55% of innovations

It is reported that _____ new firms have emerged in the United States every year since the mid-1990s.

600,000

membership in the World Trade Organization represents ___ of the worlds population at present

92%

In shaping the ultimate success or failure of a new venture, which of the following statements is applicable?

A single strategic variable is seldom responsible.

Business-related reasons for selling do not include which of the following?

Changes in the product supply chain.

Which is not a start-up expense?

Depreciation

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 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?, Is the potential market large

Which is not a key question to ask when buying a business?

Is the building heated with gas or electricity?

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 of the following is a true statement about raising capital?

It often takes a great deal of time to raise capital.

What is the largest source for new business ideas among men?

Prior job

What is the largest source of new business ideas among women?

Prior job

What is an often overlooked asset when acquiring a new business?

Records

SEC stands for the

Securities and Exchange Commission.

__________ is(are) one of the disadvantages of going public.

Shareholder pressure

Who must negotiate a final deal to purchase a business?

The potential buyer

Which of the following statements is not true of venture capitalists?

They are interested in trying to manage firms themselves.

Which of the following is not one of the most common questions typically required to be answered by entrepreneurs seeking funding?

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 is one of the most important questions for entrepreneurs to ask regarding venture capitalists?

What is it like to work with their 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 answer which of the following questions except?

What is the price of your product?

Which of the following is a question that can be sidestepped when buying a business?

Where should the business be located?, What types of customers does this store attract?, What pricing strategy should the firm use?

which is not a precipitating event that Zahara identifies as motivating the decision to act entrepreneurially

a big increase in earnings

An informal risk capitalist is referred to as:

a business angel.

what 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.

emerging opportunities in the international arena are being fueled by

a decrease in trade barriers and the emergence of trading blocs

all of the following are reasons for the growth of corporate entrepreneurship expect

a desire to dramatically increase profitability

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.

An additional consideration to keep in mind when negotiating to purchase an existing business includes requesting that the seller retain __________ in the firm.

a minority interest

Informal investors find projects through

a network of friends.

Starting a business by adapting something already on the market is called __________.

a new-old approach

Evaluation of new-venture proposals includes all the following processes except

a product prototype

in many ways, an I-team is

a small business operating within a large business

entrepreneurial characteristics include

a strong drive to succeed

How many people in America have net worth in excess of $1 million?

about 500,000

Approximately how many commercial banks are there in this country?

about 7,000

which of the following terms would be associated with the left hemisphere of thee brain

abstract

When this asset is purchased, the buyer should be sure to deduct those that they are deemed uncollectible.

accounts receivable

corporate social responsibility refers to

actions that further some social good beyond the interests of the firm

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.

Which of the following does not represent a category of angel investors?

amateur angels

employee perception of ___ is critical for the success of corporate entrepreneurship

an innovative environment

The entrepreneur should ask the venture capitalist _____ questions.

an unlimited number of

entrepreneurs

are driven by intense commitment and perseverance

When should a potential franchisee receive the FDD (Franchise Disclosure Document)?

at least ten days before signing a contract or paying any money

entrepreneurial persistence is related to

avoiding counter influences to entrepreneurship

the four phases in the creative process in order are

background or knowledge accumulation, incubation, idea experience, and evaluation/ implementation

secretly working on new ideas on company time as well as on personal time is referred to as

bootlegging

which of the following statements is TRUE (brain)

both sides of the brain are important to the creative process

developing corporate entrepreneurial managers involves teaching them to

break out of the box

Which of the following is not currently cited as a trend creating business opportunities?

breakfast cereals

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

Of the following, which is more likely than the others to be deemed a potential danger of social lending?

business plan disclosure

looking for different or unorthodox relationships among elements and people is one way to develop creativity. how might a person develop this capacity

by perceiving in a relational mode

The amount of capital required to start a new venture _____.

can vary considerably depending upon the industry

in 2011, the largest US trading partners included

canada, china, and Mexico

the person who has the opportunity to lead and run with an idea would be coined which of the following

champion

The most common source of debt financing is

commercial banks.

Which of the following terms is not synonymous with social lending?

commercially viable lending

Which of the following is a type of equity financing?

common stock

the first 5 steps for entering the international marketplace is

conducting research

intrapreneurship is also referred to as

corporate entrepreneurship

which of the following statements are NOT true (creative)

creative ideas never come out of the blue

one could correlate __ with a high energy level

creativity

which of the following is considered a myth of innovation

creativity relies on blue sky ideas

The entrepreneurial motivations of individuals usually relate to which of the following factors? a. the environment b. the entrepreneur c. the venture d. all of the above

d. all of the above

which of the following is not a strategy for corporate entrepreneuring

decrease the use of third-party contracts

recruitment centers for older people reflect which source of innovation

demographic changes

which is not one of the chief characteristics of an entrepreneur

desire for control of people (personal initiative, ability to consolidate resources, risk taking)

the second step in planning a strategy of entrepreneurship for the enterprise is

developing and encouraging innovation

which of the following mental habits inhibit creativity and innovation

either or thinking, stereotyping

key elements in plans to create a sustainable future are likely to include which of the following

eliminating the concept of waste

which of the following will help to foster an innovative climate

encourage action rom employees

collective entrepreneurship, as a concept, refers to

entrepreneurial thinking that is diffused throughout the company

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

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

ray Kroc's development of McDonalds would be good illustration of which form of innovation

extension

When accounts receivable are bought from 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

An approach developed as a criteria selection list from which entrepreneurs can gain insights into the viability of their venture is the

feasibility criteria approach.

__ people thoroughly understand the concept of corporate entrepreneurship

few

____ people thoroughly understand the concept of corporate entrepreneurship

few

Which of the following would be most commonly used for medium-term financing?

finance companies

Which formula defines the quick ratio?

financial assets/current debt

methods for going international include all of the following except

foreign reclamation

A ____ is a system of distribution 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

___ is the economic basis for all entrepreneurial activity

free enterprise

Researchers have described a "fully developed new firm" with a number of characteristics, including:

full-time commitment & formal financial support

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

bottom-line measures of economic performance include all the following expect

global competition

A franchise system can be used for handling

goods & 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

greater the risk

which of the following is not a question in the corporate entrepreneurial planning process

has the firm met government regulations for innovation?

key features in the success of any innovative program include all of the following expect

high profitability

The type of venture that is expected to attract venture capital would most likely be a

high-growth venture.

Venture classifications include which of the following types of venture?

high-growth ventures

Of the following, which is not typically identified as a bootstrapping technique?

hiring seasoned veterans

the phase of the creative process when the idea or solution the individual is seeking is discovered is the

idea experience

When is the buyer likely to have power over the seller in the negotiation to purchase a business?

if the seller has already purchased another business

which of the following is not a way to combat stress

ignoring coping mechanisms

Which of the following is a major reason for the failure of a new venture?

inadequate market knowledge

Poor financial understanding is characterized by which of the following?

inadequate understanding of costs and funding requirements

a gap or difference between expectations and reality defines

incongruities

overnight package delivery is illustrative of which source of innovation

incongruities

which of the following can help entrepreneurs carry out the evaluation and implementation stage

increasing energy level

which of the following terms refers to 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

A common human resource problem is

inflated owner ego

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

which of the following statements is TRUE (function of entrepreneur)

innovation is the specific function of entrepreneurship

most entrepreneurs should be categorized as

innovators

which of the following statements is true? (good innovators)

innovators rarely work in more than one field

corporate entrepreneurial activity takes place ___ the firm

inside

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

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

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

internal venture capital that is set aside for special entrepreneurial projects is termed

intracapital

which of the following is not an example of recognizing relationships in creativity

introducing Sierra Mist to the market to compete with sprite

what are the 4 types of innovation

invention, extension, synthesis, duplication

which of the following is not considered a principle of innovation

invest in securities

team building

involves including qualified people in the venture

people practice the creative search for background knowledge in which of the following ways:

join professional groups and organizations attend seminars or professional meetings

sustaining corporate entrepreneurship requires

keeping the corporate vision strong

which of the following is not characteristic of the 'dark side' of entrepreneurship

knowing when to take a vacation

which of the following is not a common characteristics 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

bureaucrats in an organization must

learn to give way to intrepreneurs

logical and analytical skills are developed in the

left hemisphere of the brain

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

Major trends in the venture capital field today include all of the following except

less specialized and more homogenous funds

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?

lifestyle ventures

relying on abstractions can

limit ones perception of reality

which of the following terms would not be associated with the right hemisphere of the brain

linear

One of the advantages of public offerings is

liquidity.

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 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 AND 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

Many new ventures find that debt financing is

necessary.

authoritarian management is being replaced by

networking

How do informal investors find projects to invest in?

networks of friends

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 a new business involves using a ____approach.

new-old

Equity capital is

not a loan but a form of stock.

Many entrepreneurs lack _____ for their new venture.

objectivity

one way to develop a creative mind is to

observe other entrepreneurs

ecopreneurs are concerned

only with economically sustainable development

Short-term debt is

paid back in one year.

entrepreneurs now view social/environmental issues as

part of the future of business

NAFTA offers strong protection for

patents but not copyrights

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)

people can learn to be creative

which of the following statements is true with regards to creativity

peoples process will remain the same, but their approach will change

The Regulation D exemptions include all of the following except:

placements in excess of $l0 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.

TBL focuses on all the following expect

precedence

which of the following 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

Three specific phases that a new venture goes through are

prestart-up, start-up, poststart-up.

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

Which of the following is not a type of debt financing?

private placement

the two most important aspects of creativity are

process and people

people with muddling mind sets exhibit all of the following habits expect

process thinking

Which of the following as a factor contributing to new-venture failure?

product/market problems.

in restructuring corporate thinking, top manager should

promote entrepreneurship though experimentation

Equity capital is often raised through

public stock offerings

in the following the rules for innovation, a manager should do all of the following expect

punish failure

all the the following are important characteristics for establishing an intrapreneurially climate expect

punishment of mistakes

benefit corporations concern themselves with

purpose, accountability, and transparency

which of the following terms refers 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

An advantage to buying an on-going business is

reduced concerned 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.

typically, when faced with setbacks or failure, entrepreneurs

remain optimistic and view it as a learning experience

success of the corporate entrepreneurship plan depends on

resources provided by the firm

all of the following are characteristics of a creative climate expect

restricted communication with outsiders

rewards should be based upon ___ to encourage the desired behavior

results

which of the following is an advantage to developing an entrepreneurial environment

retention and motivation of the best employees

When one discusses upside gain and downside loss, one is talking about

risk versus reward.

Regulation D defines separate exemptions that are based on the amount of money being raised. Which is not a rule that accompanies these exemptions?

rule 503

In recent studies of new venture problems, dominant problems at start-up were related to:

sales/marketing

In recent studies of new venture problems, dominant problems during the growth stage were related to

sales/marketing

a person can develop their own creativity by

seeing new and different relationships in people, objects, and places around them

the first step in planning a strategy of entrepreneurship for enterprise is

sharing the vision of innovation

most successful innovations are

simple and focused

When going public with public offerings an advantage might be

size of the company's capital amount.

groups that function outside traditional lines of authority permitting rapid turnaround of new ideas as well as instilling a high level of group loyalty are called :

skunk works

SBIC stands for the

small-business investment companies

Financial considerations play a major role in

smaller profitable ventures.

if we accept the argument the social entrepreneurship is a continuum, at one extreme would be social entrepreneurs driven exclusively by producing social benefits; at the other, would be

social entrepreneurs motivated by profitability with social benefits being the means

which of the following statements about social entrepreneurship is NOT true

social entrepreneurship is limited to the world of not-for-profit corporations

which of the following designations is not synonymous with social entrepreneur

social impersonator

one researcher established framework that classified social actions corporations into distinct categories that include:

social obligation and social responsibility

the most pro-active position for a corporation to take in regard to social responsibility would be termed

social responsiveness

the basic challenge for social enterprise is addressing the obligations of business to

society

Sales growth is a critical factor in the

start-up phase

transformational triggers in a corporate entrepreneurial environment imitates the need for

strategically adapting to change

which of the following statements is true? (innovations)

successful innovators are clear and focused

examples of social enterprise obligations to the environment include all of the following expect

support for minority-own businesses

the combination of existing concepts and factors into a new formulation would define which of the following terms

synthesis

which of the following can help speed up the idea process

taking breaks while working

Product design, reliability, and safety are all examples of

technical feasibility

Functional design of the product and attractiveness in appearance are an aspect of

technical feasibility.

When going public 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 & the success of any venture

Hiring and promotions on the basis 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

in terms of opportunity trends, what is cocooning

the desire to shelter oneself from harsh realities

during the 1990s, which new issue emerged as affecting entrepreneurs and ethics

the environment

the idea experience phase of creativity is also referred to as

the eureka factors

A checklist approach allows the entrepreneur to identify major strengths and weaknesses in factors of a new venture.

the financial, the marketing, & the organizational

the decision to behave entrepreneurially is the result of the interaction of

the individual's personnel entrepreneurial mind-set and an opportunity

When buying a small business you need to know all of the following items except:

the owner's family stability and relationships.

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

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

which of the following statements is true (right vs left brain)

the right brain helps people understand analogies and imagine things

entrepreneurship within the corporate structure allows employees to develop their ideas without

the risk associated with leaving the company

among the advantages for global entrepreneurs of diaspora networks is

the speed with which information flows across borders

an account framework that goes beyond the traditional measure of profit, return on investment, and shareholder value to include environmental and social dimensions is called

the triple bottom line

which of the following is a false statement about entrepreneurs ?

they do not failure as a tool for learning

with persistent problem solving, entrepreneurs

think anything is possible

successful entrepreneurs are able to identify and implement

those ideas that are workable and that they have the skills to implement

A new venture must go through _____ phases.

three

In determining the potential market, one should 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, & objectivity

the word entrepreneur is derived from the French 'entreprendre', which is translated as

to compete

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

as NAFTA has developed

trade barriers have been reduced

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

which of the following is an obstacle to corporate entrepreneurship

traditional management techniques

the adverse impact of ____ can be destructive that individuals within the enterprise will tend to avoid entrepreneurial behavior

traditional management techniques `

The advantages of franchising include

training and guidance, brand-name appeal, proven track record

creativity is most likely to occur when the climate is right. what is the characteristic of that climate in the workplace

trustful management that does not exert strict control over employees

security hunting is

trying to make the right decision or take the correct action

Product/market problems include which of the following?

unclear business definition

which of the following are sources of innovation

unexpected occurrences and incongruities

innovative factors identified by James brain quinn that exist in large organizations experienced in successful innovation include all of the following expect

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

During the prestart-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 discussed 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 stereotypes to minimize risk

Many entrepreneurs lack

venture uniqueness

corporate entrepreneurial strategy should be thought of as

vision directed

in attempting to create an entrepreneurial strategy should be thought of as

vision directed

entrepreneurs sense potential in business problems by asking

what if and why not

When does a business have to increase its sales annually to net as much as it did in the previous year?

when profits are not rising as fast as sales

which of the following questions concerning innovation is NOT relevant

when should the product goes to market

it takes ___ to innovate successfully

work, not genius

in the incubation process, ways of getting away from a problem include

working on something else

The final decision to purchase a franchise should be up to

you

entrepreneurs and gazelles have been credited with making disproportionate contributions to all BUT WHICH

unemployment (innovation, job creation, economic renewal)

which of the following does not apply to the strategic formulation school of thought

unique places

water well strategies refer to

unique resources

the displacement school of thought can be divided into 3 groups?

venture opportunity theory, entrepreneurial, strategic

for entrepreneurs , vision describes

where the entrepreneur wants to go

the 'corridor principle' is best described by which of the following statements

with every new venture launched, new and unintended opportunities arise

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

throughout the years, many myths have arisen about entrepreneurship as a result of?

a lack of research about entrepreneurship

which of the following is an aspect of the dark side of entrepreneurship

a need for control and a sense of distrust

entrepreneurs are best characterized as:

aggressive catalysts for change

which of the following helps account for the rise of interest in corporate entrepreneurship

an increase in corporations losing some of their best people

the dynamic states model depicts ventures as

being dependent on their environment for survival

what kind of thinking can lead to unethical behavior in a business context

bottom line

entrepreneurs themselves perceive the concept of risk in which of the following:

calculated risk taking

areas of risk to the entrepreneur include

career, family, psychic

A ___ is a statement of ethical practices or guidelines to which an enterprise adheres

code of ethics

characteristics often attributed to the entrepreneur include

commitment, determination, and perseverance

entrepreneurs with a drive to achieve want to

compete

3m's post-it notes are an example of the

corridor principle

the major thrust of corporate entrepreneurship is to

encourage innovation

when outcomes meet or exceed expectations, __ is positively reinforced

entrepreneurial behavior

which of the following statements is false?

entrepreneurs are born with the skills necessary to manage a business

what is a true statement about entrepreneurs

entrepreneurs are doers and thinkers

which statement is not true (entrepreneur market)

entrepreneurs fare poorly in today's hyper-competitive market

one trait not common in entrepreneurs is

entrepreneurs need structure (are: problem solvers, creative/innovative, independent)

which of the following traits 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" activates

entrepreneurship

in the study of contemporary entrepreneurship, one concept reoccurs:

entrepreneurship is interdisciplinary

which of the following statements is true (entrepreneurship)

entrepreneurship is the ability to create and build a vision from practically nothing

the Marco view of entrepreneurship presents factors exhibiting a strong

external locus of control

the macro view can be broken down into which 3 areas

financial/capital, strategic, and opportunity

which of the following concepts is entrepreneurship considered synonymous with

free enterprise

entrepreneurship has become synonymous or closely linked with:

free enterprise and capitalism

which of the following is not a trait of successful entrepreneurs?

frustration (initiative, perseverance, strategic thinking)

entrepreneurs always

generate ideas and plan for their implementation

entrepreneurial stress can be caused by having a type A personality which can be defined as

having a chronic sense of time urgency

a decision to sell pharmaceuticals that have not been cleared with the federal drug administration is an example of an

legal and unethical decisions

when referring to 'luck' and an entrepreneur, which of the following statements is an appropriate adage

luck happens when preparation meets opportunity

which of the following is false?

management skills are not important characteristics for entrepreneurs to possess

the greek word ethos means

mode of conduct

the process approach to entrepreneurship seeks to

model the various factors that characterize the entrepreneurial process

stress can be dealt with by

networking and delegating

Michael Gerber, the author of the E-Myth, explains that the failure of most small businesses is

owners being more technical rather than entrepreneurial

every person has the __ and ___ to pursue a career as an entrepreneur

potential; free choice

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

which of the following is not a form of displacement in the displacement school of thought

racial

which of the traits is not that of an entrepreneur?

shyness (drive, willingness to take risks, human relations skills)

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 (source: immersion, people problems, family requirements)

the entrepreneurial ego can cause the entrepreneur to

take characteristics that usually lead to success to the extreme

one reason why corporate entrepreneurship has done so well is that it allows organizations to

tap the innovative talents of their people

the statement, 'with every new venture launched, new and unintended opportunities often arise',..

the corridor principle

generally, entrepreneurial stress is due to

the discrepancy between the entrepreneurs expectations and the ability to meet demands

Robert C. Ronstadt put together a summary definition of entrepreneur that included which of the following key phrases?

the dynamic process of creating incremental wealth

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 schools of thought is not a micro view school of thought

the inherited business school of thought

entrepreneurs will always be

the major source of job creation and innovation in any economy

a clear pattern among successful entrepreneurs is

their focus on opportunity rather than resources

which of following is an obstacle to corporate entrepreneurship

traditional management techinques

which is not a trait of a successful entrepreneur

trouble fitting in (desire to achieve, initiative, innovation)

which of the following economists wrote about entrepreneurship and its impact on economic development?

Joseph Schumpeter

which economist first associated the 'risk bearing' activity in the economy with the entrepreneur

Richard Cantillon

during the past 10 years, there were approximately how many business incorporations per year

600,000