RFC Ch. 7
Which of the following is one of the five key factors that entrepreneurs are required to have thought through? A) context B) promotion C) place D) packaging E) policy
A) context
Intrapreneurs are otherwise known as A) corporate entrepreneurs. B) social entrepreneurs. C) bootleggers. D) knowledge workers. E) horse traders.
A) corporate entrepreneurs
Which of the following provides a way to raise capital through federally registered and underwritten sales of shares in the company? A) initial public offering B) future stock sale C) first bond option D) commodity sale E) stock option
A) initial public offering (IPO)
Which of the following is an example of an entrepreneurial opportunity categorized under economic dislocations? A) rising oil prices B) growing interest in sports C) strict energy efficiency requirements D) terrorist attacks E) natural disasters
A) rising oil prices
Which of the following is a key difference between an entrepreneur and an intrapreneur?
An entrepreneur receives no corporate support, whereas an intrapreneur has the benefit of corporate support.
Which of the following is a formal planning step that focuses on an entire venture and describes all the elements involved in starting it? A) a venture capital agreement B) an organizational assessment C) a business plan D) an opportunity analysis E) a contingency plan
C) a business plan
Which of the following entrepreneurial businesses is an example of high innovation and high risk? A) a new dog-walking service B) an online retail shop C) a new drug D) a new restaurant E) a new hardware store
C) a new drug
The role of a(n) _____ is to provide a protected environment for new, small businesses. A) entrepreneurial venture B) franchise C) skunkworks D) business incubator E) business accelerator
D) business incubator
When an enterprising individual pursues a lucrative opportunity, it is known as A) bootlegging. B) speculation. C) horse trading. D) entrepreneurship. E) franchising.
D) entrepreneurship
One of the common challenges entrepreneurs face is A) lack of information. B) intolerance of uncertainty. C) opportunity obsession. D) lack of enjoyment in what they do. E) their inability to take risks.
D) lack of enjoyment in what they do.
Who among the following most likely possesses the key characteristics of a successful entrepreneur?
Juana is very innovative and knowledgeable and believes that she would be a successful entrepreneur.
Which of the following is true of the role of the economic environment in the success of entrepreneurial ventures?
The economic environment affects the success of entrepreneurial ventures by affecting the supply of capital and prospective opportunities.
Entrepreneurs can assemble a group of people to help them learn the basics of business and build relationships with bankers, accountants, and attorneys. Such a group is called a(n)
advisory board
Which of the following refers to the tendency of an organization to engage in activities designed to identify and capitalize successfully on opportunities to launch new ventures by entering new or established markets with new or existing goods or services?
entrepreneurial orientation
An entrepreneurial alliance between an innovator who has created at least one successful store and wants to grow and a partner who manages a new store of the same type in a new location is called
franchising
Legitimacy increases the probability of success of a new business by
helping a firm acquire resources such as top managers and good employees
Which of the following is true about social entrepreneurship?
it creates economic value and social benefits simultaneously
Which of the following refers to project teams designated to produce a new product?
skunkworks
A(n) _____ differs from an entrepreneurial venture in that it is not managed aggressively, and its owners expect normal, moderate levels of sales, profits, and growth.
small business
Which of the following e-commerce business models brings buyers and sellers together and charges a commission for each sale?
the intermediary model
