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Exam 6: Entrepreneurship

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Question 61

True/False

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Social capital refers to being part of a social network and having a good reputation.

A) True
B) False

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Question 62

Multiple Choice

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________ is a benefit of business incubators.

A) An information silo
B) High security
C) Provision of venture capital
D) A shared cost
E) Guaranteed profitability

F) All of the above
G) A) and C)

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Question 63

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What are some of the reasons people become entrepreneurs?

________ use networks of contacts more than formal authority.

________ are new venture creators working inside big companies; they are corporate entrepreneurs, using their company's resources to build a profitable line of business based on a fresh new idea.

Jacob has been developing contacts and heightening his profile in his community; that is, he has been creating his ________. He knows that nonfinancial resources will be crucial to the success of his entrepreneurial venture.

Josh uses his father's yard equipment to start up a lawn mowing business during summer break from school, to earn enough money to buy books in the fall. According to the entrepreneurial strategy matrix, Josh's business can be described as

Discuss how an entrepreneur decides on an economic opportunity.

The most dangerous risk in intrapreneurship is that of

Tonda spotted, created, and exploited a(n) ________ for ride-sharing services for elderly customers that big companies had ________ and, in so doing, she captured the market with her simpler, cheaper, more accessible, and more convenient services.

Blanche works as a respected senior engineer for a large manufacturer of pharmaceutical process equipment. Several researchers within the company have discovered an innovative way to repackage pharmaceutical drugs. The company has given Blanche the opportunity and responsibility to lead a fully funded project team for 12 months to develop this idea. She is excited to lead this ________ team.

Entrepreneurs are NOT

Organizations that encourage intrapreneurship face the obvious risk that this effort can fail.

A description of the good or service, an assessment of the opportunity, an assessment of the entrepreneur, and specification of activities and resources needed to translate your idea into a viable business, and your source(s) of capital together make up a(n)

If a company is striking fast to beat competitors to the punch, tackle them head-to-head, and analyze and target competitors' weaknesses, then they are practicing

Bill, let me give you some advice," said his mentor, Ted. "Before seeking formal approval for your project from higher levels of management, spend some time getting support from your peers, or as it is often called

In the context of key planning elements, which of the following is true of what venture capital firms consider important for an entrepreneurial venture?

In the context of successful business models for e-commerce, sites that pay commissions to other sites to drive business to their own sites involve the ________ model.

Most small business ventures are located in the ________ quadrant of the entrepreneurial strategy matrix.

Elena, a manager, has a new project idea. Before she begins building support for her idea, she begins by ________, which is explaining the idea to her boss to get his approval to seek wider support.