entr test questions

which of the following questions concerning innovation is not relevant

"when should the product go to market"

the four phases in the creative process in order are

1. background or knowledge accumulation 2. incubation 3. idea experience 4. evaluation and implementation

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 US every year since the mid - 1990s

600,000

New and smaller firms obtain more patents per sale than do larger firms.

True

the right brain helps people understand analogies and imagine things

True

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

a big increase in earnings

Which of the following statements best describes a "gazelle?"

a business with at least 20 percent growth every year

most innovations results 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 profitablity

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

in an innovative climate, failure is viewed as

a learning experience

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

a need for control a sense of distrust

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

in many ways, an I-Team is

a small business operating within a large business

entrepreneurial characteristics include

a strong drive to succeed

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

abstract

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

adaption

which of the following are causes of industry and market changes

advancements in technology

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

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

an innovative environment

entrepreneurs

are driven by intense commitment and preserverance

entrepreneurs are accurately described in which way

as calculated risk takers

entrepreneurial persistence is related to

avoiding counter-influences to entrepreneurship

the dynamic states model depicts ventures as

being dependent on their environment for survival

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

bootlegging

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

bottom line

developing corporate entrepreneurial managers involves teaching them to

break out of the box

Individuals will sometimes attempt to justify behaving unethically by reasoning that the action is in firm's best interest and that if it ever becomes known, the firm will condone it because the firm has benefitted from the unethical act. Which of the following would be an example of this type of "role distortion" morally questionable act?

bribery

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

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

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

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

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 preserverance

lack of finished product availability can affect

companys image and the success of any venture

entrepreneurs with a drive to achieve want to

compete

intrapreneurship is also referred to as

corporate entrepreneurship

3M's post it notes are an example of the

corridor principle

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

which of the following is not a strategy for corporate entrepreneuring

decrease the use of third-party contract

retirement centers for older people reflect which source of innovation

demographic changes

Which is notone 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

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, stereotyping

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

eliminating the concept of waster

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

when outcomes meet or exceed expectations, _______ is positively reinforced

entrepreneurial behavior

collective entrepreneurship, as a concept refers to

entrepreneurial thinking that is diffused throughout the company

which of the following statements is false

entrepreneurs are born with the skills necessary to manage a business

Which is a true statement about entrepreneurs?

entrepreneurs are doers and thinkers

Which of the following statements is true?

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

one trait not common in entrepreneurs is

entrepreneurs need structure

Which of the following is nota 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 reoccurrs

entrepreneurship is inferdisciplinary

the entrepreneurial motivations of individuals usually relate to which of the following factors

environment entrepreneur venture

process needs

exist when an entrepreneur can meet a new source of demand

Which of the following is something that is similar between Angel Investors and Venture Capitalists?

expected annualized rate of return on their investment

Ray Kroc's development of Mcdonalds 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

with psychic risk you fear

failure

one factor not found in high achievers

failure to listen to feedback

Gazelles produce half the innovations per employee that larger firms typically do.

false

One of every 1,000 adults participates in the founding of a new firm every year.

false

The entrepreneurial spirit is unique to America and Western Europe.

false

creative ideas never come out of the blue

false

The ______ approach to evaluating a proposed new venture (or potential acquisition) involves constructing a checklist ahead of time that identifies a variety of critical issues. This checklist can be applied to each potential venture.

feasibility criteria

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

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

financial marketing organizational

which formula defines the quick ratio

financial assets/current debt

The macro view can be broken down into which three areas

financial/capital, strategic, and opportunity

Which of the following concepts is entrepreneurship considered synonymous with?

free enterprise

______________ is the economic basis for all entrepreneurial activity.

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

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

entrepreneurs always

generate ideas and plan for their implementation

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

global competition

in starting or buying a new business, the higher the reward the

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

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

having a chronic sense of time urgency

key features in the success of any innovative 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

venture classifications include which of the following types of venture

high-growth ventures

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

idea experience

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

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 of service into newer or larger markets

incremental innovation

shifts in consumer tastes and attitudes are an example of

industry and market changes

a common HR 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

innovation is the specific function of entrepreneurship

most entrepreneurs should be categorized as

innovators

Corporate entrepreneurial activity takes place _____ the firm

inside

The study of entrepreneurship is

interdisciplinary

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 project 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 four 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

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 of the following is NOT true of Corporate Entrepreneurship?

it contributes to more start up activities by former employees (those who have left the firm to start their own ventures)

Which of the following is the most frequent source of new business ideas for both male and female entrepreneurs?

jobs

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

join professional groups and organizations attend seminars or professional meetings

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

joseph schumpeter

sustaining corporate entrepreneurship requires

keeping the company 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

which of the following statements is true: people can

learn to be creative

bureaucrats in an organization must

learn to give way to intrapreneurs

logical and analytical skills are developed in the

left hemisphere of the brain

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

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

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

an L3C is a new legal form for social enterprises known as

low-profit, limited liability companies

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 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 greek word ethos means

mode of conduct

The process approach to entrepreneurship seeks to

model the various factors that characterize the entrepreneurial process

authoritarian management is being replaced by

networking

stress can be dealt with by

networking and delegating

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

what characteristics that propel entrepreneurs into success can be exhibited to the extreme

overbearing need for control

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

owners being more technical rather than entrepreneurial

entrepreneurs now view social/environmental issues as

part of the future of business

which of the following statements is true with regards to creativity

people's process will remain the same, but their approach will change

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

all of the following are important characteristics for establishing an intrapreneurial climate except

positive reinforcement

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, poststart-up

TBL focuses on all the following except

precedence

which of the following is not one of the phases in the creative process

preliminary investigation

when a customer sees a product that is superior to its competitors, ______ becomes less important

price

general sources for a market feasibility analysis include

pricing data

a potential entrepreneur needs to realize that

principles of innovation can be learned

the two most important aspects of creativity are

process and people

people with muddling mind-set exhibit all of the habits except

process thinking

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

product/market problems

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

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

punish failure

MATCHING: One of the systemic barriers to innovation

punishment of failure

benefit corporations concern themselves with

purpose, accountability and transparency

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

racial

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

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

Which of the "Characteristics Often Attributed to Entrepreneurs" listed below is most closely aligned with (or most similar to) one of the "Big 5" personality traits?

responsibility

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

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

retention and motivation of the best empoloyees

Which economist first associated the "risk bearing" activity in the economy with the entrepreneur?

richard cantillon

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

Which of the following traits is not that of an entrepreneur?

shyness

most successful innovations are

simple and focused

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

financial considerations play a major role in

smaller profitable ventures

if we accept the argument that 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 the environment 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 a framework that classified social actions of corporations into distinct categories that included

social obligation social responsiveness

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

If a profit-maximizing, consumer-oriented business attempts its value-chain activities in a way that simultaneously produces superior returns for shareholders, valuable products and services for customers, and societal and environmental benefits, we would conclude that this enterprise is pursuing

strategic corporate social responsibility

transformational triggers in a corporate entrepreneurial environment initiates the need for

strategically adapting to change

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

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

support for minority own 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

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

tap the innovative talents of their people

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

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

The statement, "with every new venture launched, new and unintended opportunities often arise," would be associated with

the corridor principle

in terms of opportunity trends, what is cocooning

the desire to shelter oneself from harsh realities

generally, entrepreneurial stress is due to

the discrepancy between the entrepreneur's 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

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 factor

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

the individuals personal entrepreneurial mind set and an opportunity

Which of the following schools of thought is nota 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

the result 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

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

the risk associated with leaving the company

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

the triple bottom line

Which of the following would be considered to be a factor in the Macro View of entrepreneurship that attempts to explain why entrepreneurial firms are launches and/or why they will be successful

the value system expressed by the social group surrounding a potential entrepreneur

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 failing 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

to undertake

Michael Gerber, the author of The E-Myth, contends

today's business owners are not true entrepreneurs

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

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

which is not a trait of a successful entrepreneur

trouble fitting in

successful innovations are clear and focused

tru

both sides of the brain are important to the creative process

true

innovators rarely work in more than one field

true

creativity is most likely to occur when the "climate" is right. what is a 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

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 that 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 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

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

In the Value-Chain model, certain activities must be completed in order to produce and deliver each unit of the product -- or service -- to the customer. In the Cost Structure (or Profit Formula) element of the Business Model the expense of performing these value-chain activities would be the

variable cost

Which of the following is NOT an element of the Business Model Canvas?

venture capital

The micro view is divided into which three theories

venture opportunity theory, entrepreneurial, strategic

many entrepreneurs lack

venture uniqueness

corporate entrepreneurial strategy should be though of as

vision directed

entrepreneurs sense potential in business problems by asking

what if and why not

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

it takes ______ to innovate successfully

work, not genius

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

working on something else