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