quiz 1 ent. 315
In the business model canvas, how many components are listed?
9
Most research on entrepreneurs says that they
Do not discuss their fear of failure
Which of the following is a common myth surrounding entrepreneurship?
Entrepreneurship is an innate set of skills, it cannot be taught
This approach to opportunity identification assumes that opportunities exist independent of entrepreneurs and are waiting to be found.
Finding approach
______ allows entrepreneurs to make a profit while simultaneously addressing specific problems facing the general public
Social entrepreneurship
Which of the following is not a characteristic of a wicked problem?
The problem is created by lawmakers whose intentions are money-driven rather than socially driven.
Which statement is true?
There is no single right way to determine your pricing strategy
In order to discover opportunities, entrepreneurs must be ______ their environment.
alert to
Which step occurs early in the scientific process of experimentation?
asking alot of questions
To achieve high levels of performance, high performers follow a process called ______, which involves carrying out carefully focused efforts to improve current performance
deliberate practice
If you are giving away something for nothing, you need to make sure you are still:
earning substantial revenues
Entrepreneurship can be learned passively.
false
The majority of successful entrepreneurs complete formal business plans.
false
The method approach is a new concept that has been developed by entrepreneurship scholars.
false
CVP stands for customer value program
false cost per view
This is a reason why some entrepreneurial firms choose not to experiment.
fear failure seen as risky it may require a tradeoff between short-term loss and long-term gain
Revenues and cost structures are a part of this aspect of the business model
financial and viability
People with a ______ mind-set believe their abilities can be developed through dedication, effort, and hard work.
growth
Resiliency is a feature of the ______ mind-set.
growth
For entrepreneurs, the concept of mind-set is important in:
identifying oppertunities
This type of failure can provide valuable new knowledge that can help a start-up innovate and stride ahead of its competition.
intelligent failure
Having learned from failure, entrepreneurs often feel ______ to start up a new venture.
more prepared more confident more motivated
The ______ approach works best in times of relative certainty and when there is access to existing information and data upon which to base decisions
prediction
The two main perspectives on entrepreneurship are the ______ approach and the ______ approach
prediction, creation
Working at the practice of self-leadership, creativity, and improvisation helps build higher levels of ______.
self-efficacy
in the context of entrepreneurship, ______ is a process whereby people can influence and control their own behavior, actions, and thinking to achieve the self-direction and self-motivation necessary to build their entrepreneurial business ventures.
self-leadership
are people who start several businesses, sometimes concurrently, sometimes consecutively.
serial ent
Which of the following is considered one of the five core skills of entrepreneurship?
skill of play
Storyboarding is a creative way for entrepreneurs to:
solve customer problems
The definition of social entrepreneurship involves:
sourcing innovative solutions
This is an early form of prototyping that provides a high-level view of thoughts and ideas arranged in sequence in the form of drawings, sketches, or illustrations.
storyboarding
Deliberate practice requires high levels of focus, attention, and concentration.
true
Many successful entrepreneurial ideas include a product or service innovation.
true
Social entrepreneurs are taking an inclusive approach to resolving problems in developing countries.
true
The first part of the business model is the offering.
true
The reality is that many start-ups fail.
true
The unit sales revenue model measures the amount of revenue generated by the number of items sold by a company.
true
