MGMT 340 Chpt 2

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) _____ and _____ decision. Select one: a. legal; unethical b. illegal; unethical c. legal; ethical d. illegal; ethical

a

Areas of risk to the entrepreneur include Select one: a. career, family, and psychological. b. psychic, social, and physical. c. financial, product, and market. d. family, business, and social.

a

For entrepreneurs, vision describes a. how the market works. b. a concept. c. the future. d. eyesight.

a

One trait not common in entrepreneurs is being a. independent, yet able to build strong teams. b. a problem solver. c. structured. d. creative and innovative.

c

A good trait for an entrepreneur is to be a calculated risk taker.

true

Stress can be dealt with by a. networking. b. ignoring it. c. neglecting it. d. working harder.

networking

Most successful entrepreneurs have failed at one time or another.

true

A code of _____ is a statement of ethical practices or guidelines to which an enterprise adheres. a. honor b. ethics c. silence d. conduct

b

Entrepreneurial persistence is related to a. focusing on personal goals. b. avoiding counter influences to entrepreneurship. c. the entrepreneur's outcomes meeting his or her expectations. d. implementing problem-solving techniques.

b

The Greek word ethos means Select one: a. esprit de corps. b. morale. c. mode of conduct. d. elan.

c

In starting or buying a new business, the higher the rewards, the a. smaller the enjoyment. b. greater the size of a business. c. more minimal the risk. d. greater the risk.

d

In the _____ sense, ethics provides the basic rules or parameters for conducting any activity in an "acceptable manner." a. abstract b. narrowest c. most concrete d. broadest

d

One could correlate _____ with a high energy level. Select one: a. working b. reading c. luck d. creativity

d

Which of the following is not a common characteristic of entrepreneurs? Select one: a. vision b. independence c. team building d. lack of motivational drive

d

When outcomes meet or exceed expectations, _____ is positively reinforced. a. desire for success b. entrepreneurial motivation c. entrepreneurial ego d. entrepreneurial behavior

d.

The entrepreneurial ego can cause the entrepreneur to: a. take too few risks. b. ignore government regulations. c. take characteristics that usually lead to success to the extreme. CorrectCorrect d. have a sense of pessimism.

take characteristics that usually lead to success to the extreme.

Entrepreneurial stress can be caused by having a Type A personality, which can be defined as Select one: a. having a chronic sense of time urgency. b. taking things personally. c. taking too little responsibility. d. getting away from business.

a

Every person has the _____ and _____ to pursue a career as an entrepreneur. Select one: a. stubbornness; stupidity b. potential; free choice c. obligation; duty d. rights; regulations

b

Which of the following statements about entrepreneurs is false? Select one: a. They are achievers. b. They burn with the competitive desire to excel. c. They do not use failure as a tool for learning. d. They see the cup half full rather than half empty.

c

Which of the following statements about team building is true? Select one: a. The entrepreneur has the clearest vision in the firm. b. Compared to the owner, personnel are often more qualified to handle day-to-day implementation challenges. c. The entrepreneur needs a competent team to implement an idea. d. Most successful entrepreneurs have highly qualified teams that handle everything having to do with the development of the venture.

c

With psychological risk, you fear Select one: a. adapting. b. losing your sanity. c. failure. d. money.

c

In science, _____ refers to mental processes. a. cognition b. ergonomics c. evaluation d. phenomena

cognition

Which of the following characteristics is often attributed to entrepreneurs? Select one: a. humility b. egotism c. rigidity d. insensitivity

egotism

An ethical concern has arisen because companies like Amazon and Yelp use customer reviews to deliberately manipulate consumers' perceptions of products or services.

false

Which of the following is not a trait of successful entrepreneurs? a. strategic thinking b. frustration c. perseverance d. initiative

frustration

A decision to sell pharmaceuticals that have not been cleared with the Federal Drug Administration is an example of a(n) _____ and _____ decision. a. illegal; ethical b. illegal; unethical c. legal; ethical d. legal; unethical

illegal; unethical

Entrepreneurs usually have an internal locus of control.

true

Team building Select one: a. involves including qualified people in the venture. b. does nothing. c. does not threaten the entrepreneur's autonomy. d. is overrated.

a

Which of the following best describes what happens when an entrepreneur becomes an external optimist? a. They want others to believe in them during rough periods. b. They exude low enthusiasm to the people around them. c. They want others to see them as ethical, even though they may behave otherwise. d. External assistance in matters is welcomed.

a

Which of the following statements is false? Select one: a. Management skills are not important characteristics for entrepreneurs to possess. b. Successful entrepreneurs strive to build a successful team around them. c. Entrepreneurs want the authority to make important decisions. d. An entrepreneur can develop the vision of the company over time.

a

Which of the following statements is false? a. Their belief in their ability seldom wavers. b. Entrepreneurs are born with the skills necessary to manage a business. c. Entrepreneurs know where they want to go. d. Independence is a driving force behind contemporary entrepreneurs.

b

Characteristics often attributed to the entrepreneur include: a. a preference to be a loner. b. being power hungry. c. commitment, determination, and perseverance. d. a tendency to be indecisive.

c

Which of the following characteristic(s) that propel entrepreneurs into success can be exhibited to the "extreme"? a. high energy b. optimism c. overbearing need for control d. desire for success

c

Which of the following is not a source of stress according to researchers Boyd and Gumpert? Select one: a. immersion in business b. loneliness c. family requirements d. people problems

c

Which of the following is not an aspect of the "dark side" of entrepreneurship? Select one: a. entrepreneurial ego b. stress c. bouts of euphoria d. confrontation with risk

c

Which of the following is not a way to combat stress? a. probing personal unacknowledged needs b. acknowledging its existence c. taking a few days off d. ignoring coping mechanisms

d

Which of the following kinds of thinking can lead to unethical behavior in a business context? Select one: a. critical b. abstract c. top line d. bottom line

d

With persistent problem solving, entrepreneurs Select one: a. are always working. b. must daydream all day. c. can't multitask. d. think anything is possible.

d

Collective creativity emerges strictly from the efforts of the founder who directs personnel to produce unique goods and services.

false

Entrepreneurs always know that, as individuals, they must remain less important than the venture.

false

Entrepreneurs are pessimists who see the cup half empty rather than half full.

false

Entrepreneurs need not be concerned with establishing strategy for ethical responsibility because they are guided by what established firms do.

false

Entrepreneurship presents psychological risks, but not physical risks.

false

Ethics represents a set of principles prescribing a behavioral code that does not include moral duty and obligations.

false

Immersion in business can be cured by limiting work to eight hours a day.

false

Nonrole acts are those acts against a firm in which the person fails to perform his or her managerial role.

false

The metacognitive model of entrepreneurship fails to consider the entrepreneurial mind-set that integrates the combined effects of entrepreneurial motivation.

false

Today's entrepreneurs are faced with few ethical decisions because the legal system imposes greater penalties on wrongdoers.

false

Entrepreneurial cognition is, in part, about understanding how entrepreneurs use simplifying mental models to make assessments, judgments, or decisions about opportunities.

true

Entrepreneurs like to remain alert to competition, customers, and government regulations, but this continual scanning of the environment can lead to a negative sense of distrust.

true

Ethics provides the basic rules or parameters for conducting any activity in an "acceptable" manner.

true

In smaller ventures, the ethical influence of the owner is more powerful than in larger corporations because his or her leadership is not diffused through layers of management.

true

Morals and law are not synonymous but may be viewed as two circles that are partially superimposed upon each other.

true

One of the most important reasons firms want to adhere to a high moral code is that doing so protects the free enterprise system and is good business.

true

Problems can arise when people believe that laws represent morality.

true

Role distortion deals with morally questionable acts that are committed "for the firm."

true

Some of the most common entrepreneurial goals are independence, wealth, and work satisfaction.

true

Stress on the entrepreneur can be caused both internally and by other people.

true

The Greek thinker, Chilon, felt that a merchant does better to take a loss than to make a dishonest profit.

true

There are many risks in entrepreneurship.

true