Combo with "Ch 1" and 9 others

Pataasin ang iyong marka sa homework at exams ngayon gamit ang Quizwiz!

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


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