BUS-W 212 Exam 1

Which of the following best describes a "gazelle"?

- leaders in innovation - a business establishment with at least 20% sales growth in each year for five years, starting with a base of at least $100,000 in annual sales

The macro view can be broken down into which three areas?

Environmental school of thought Financial/capital school of thought Displacement school of thought

The micro view is divided into which three theories?

Entrepreneurial trait school of thought (people school) Venture Opportunity school of thought Strategic formulation school of thought

Which of the following terms refers to the systematic evolution of a product or service into newer or larger markets?

incremental innovation

Characteristics often attributed to the entrepreneur include:

personal initiative management skills risk taking aggressiveness competitiveness confidence intuitiveness reality based action a desire for autonomy

Every person has the _______ and ______ to pursue a career as an entrepreneur.

potential opportunity (free choice)

Which of the following may be the greatest risk to the well-being of the entrepreneur?

psychic risk

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

the individual's personal entrepreneurial mindset and an opportunity

The word entrepreneur is derived from the French word entreprendre, which is translated as ______.

to undertake

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 trait of successful entrepreneurs?

trouble fitting in