Entrepreneurship Test I
Which of the following is not a trait of successful entrepreneurs?
Frustration
Which of the following statements best describes a "gazelle?
a business with at least 20 percent growth every year
Throughout the years, many myths have arisen about entrepreneurship as a result of?
a lack of research about entrepreneurship
Corporate social responsibility refers to
actions that further some social good beyond the interests of the firm
Which of the following helps account for the rise of interest in corporate entrepreneurship?
an increase in corporations losing some of their best people
Entrepreneurs
are driven by intense commitment and perseverance
Secretly working on new ideas on company time as well as on personal time is referred to as
bootlegging
Areas of risk to the entrepreneur include
career, family, psychic
Characteristics often attributed to the entrepreneur include
commitment, determination, and perseverance
The first of five steps for entering the international marketplace is
conducting research
The second step in planning a strategy of entrepreneurship for the enterprise is
developing and encouraging innovation
The displacement school of thought can be divided into which three groups?
economic, cultural, and political
Key elements in plans to create a sustainable future are likely to include which of the following?
eliminating the concept of waste
The major thrust of corporate entrepreneurship is to
encourage innovation
Collective entrepreneurship, as a concept, refers to
entrepreneurial thinking that is diffused throughout the company
Which of the following is not a common myth about entrepreneurs?
entrepreneurs today are considered heroes
The macro view of entrepreneurship presents factors exhibiting a strong
external locus of control
Methods for going international include all of the following except
foreign reclamation
Bottom-line measures of economic performance include all of the following except:
global competition
Entrepreneurial stress can be caused by having a type A personality which can be defined as
having a chronic sense of time urgency
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
Which of the following terms refers to the systematic evolution of a product or service into newer or larger markets?
incremental innovation
When entrepreneurs believe that their accomplishments and setbacks are within their own control and influence, they are exhibiting
internal locus of control
Which of the following is not a characteristic of the "dark side" of entrepreneurship?
knowing when to take a vacation
An L3C is a new legal form for social enterprises known as
low-profit, limited liability companies
The process approach to entrepreneurship seeks to
model the various factors that characterize the entrepreneurial seeks to
Ecopreneurs are concerned
only with economically sustainable development
Michael Gerber, the author of The E-Myth, explains that the failure of most small businesses is due to
owners being more technical rather than entrepreneurial
Every person has the ___ and ____ to pursue a career as an entrepreneur
potential; free choice
In restructuring corporate thinking, top management should
promote entrepreneurship through experimentation
Which of the following terms refers the inaugural breakthroughs launched from experimentation and determined vision?
radical innovation
The first step in planning a strategy of entrepreneurship for enterprise is
sharing the vision of innovation
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
skunk works
If we accept the argument that social entrepreneurship is a continuum, at one extreme would be social entrepreneurs driven exclusively by producing social benefits; at the other, would be
social entrepreneurs motivated by profitability with social benefits being the means
Transformational triggers in a corporate entrepreneurial environment initiates the need for
strategically adapting to change
Examples of social enterprise obligations to the environment include all of the following except
support for minority-own businesses
The entrepreneurial ego can cause the entrepreneur to
take characteristics that usually lead to success to the extreme
The statement, "with every new venture launched, new and unintended opportunities often arise," would be associated with:
the corridor principle
The decision to behave entrepreneurially is the result of the interaction of:
the individual's personal entrepreneurial mind-set and an opportunity
Among the advantages for global entrepreneurs of diaspora networks is
the speed with which information flows across borders
The word entrepreneur is derived from the French 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 an obstacle to corporate entrepreneurship?
traditional management techniques
Entrepreneurs and gazelles have been credited with making disproportionate contributions to all but which of the following?
unemployment
Which of the following would not be considered as encouraging to an entrepreneurial environment?
uniform compensation
Mountain gap strategies refer to
unique markets
The micro view is divided into which three theories?
venture opportunity theory, entrepreneurial, strategic
The "corridor principle" is best described by which of the following statements?
with every new venture launched, new and unintended opportunities arise
A _____ is a statement of ethical practices or guidelines to which an enterprise adheres
code of ethics
Which of the following statements is true?
entrepreneurship is the ability to create and build a vision from practically nothing
The macro view can be broken down into which three areas?
environmental, financial, and displacement
Which of the following may be the greatest risk to the well-being of the entrepreneur?
psychic risk
Which of the following statements about social entrepreneurship is not true?
social entrepreneurship is limited to the world of not-for-profit corporations
Which of the following designations is not synonymous with social entrepreneur?
social impersonator
All of the following are reasons for the growth of corporate entrepreneurship except
a rapidly growing number of new and sophisticated competitors
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
One researcher established a framework that classified social actions of corporations into distinct categories that included
social obligation, social responsiveness
The most pro-active position for a corporation to take in regard to social responsibility would be termed
social responsiveness
Generally, entrepreneurial stress is due to
the discrepancy between the entrepreneur's expectation and the ability to meet demands
An account framework that goes beyond the traditional measures of profit, return on investment, and shareholder value to include environmental and social dimensions is called
the triple bottom line