chapter 1 entrepreneurship true/false
false
the fourth step in the problem-solving process is brainstorming
true
your past experiences are key factor in determining your commitment to a business
true
before starting a business, it is important to identify the kinds of entrepreneurial opportunities that match your aptitudes and interest
True
entrepreneurs constantly change U.S business and contribute to the nation's overall good
true
entrepreneurs need to be able to make quick decisions
true
entrepreneurs should not be afraid of making mistakes
True
entrepreneurs try to meet the needs of the marketplace by supplying a product or service
true
entrepreneurship involves risk, which is both an advantages and a disadvantage
False
everyone has the qualities and aptitude needed to become a successful entrepreneur
false
following a brainstorming session, a decision should be immediately
false
identifying one or two possible solutions is usually sufficient
True
manufacturing businesses produce the product they sell
true
quantifying a problem helps a business owner determine how much it is worth to them to solve it
false
small companies cannot take as many risks as large companies, so small companies are less likely to be innovative
False
small firms with fewer than 500 employees represent about 25 percent of all businesses in the Unites States today
false
successful entrepreneurs need self confident because they must make decisions alone, but they do not need to be creative because they can hire creative people
true
the best entrepreneurs use a formal problem solving model to make decisions
false
brainstorming is always done in a group setting; it is useless activity for an individual
false
a travel agency is a retailing business
true
an advantage of entrepreneurship is that nobody tells an entrepreneur what to do
false
an advantage of entrepreneurship is that owners make all decisions by themselves
false
aptitude is the ability to evaluate your strengths weaknesses
true
communication and listening skills are vital to the problem-solving process
true
defining and quantifying the problem is the first step in the problem solving process
false
entrepreneur and employees are both directly affected by the consequences of the decisions they make
False
entrepreneurial businesses include retailing, such as clothing and furniture stores, but do not include service business
true
the owner's businesses contribute billions of dollars to the us economy every year
true
the owner's businesses experience is a factor that contributes to the likelihood of success
true
the problem solving process is not complete until the action is evaluated
true
to determine if entrepreneurship is right for you you need to perform a self- assessment