Question 1

When Frank worries about his network and the reputation of his business, he is concerned with

Accepted Answer

A)   social capital.
B)   skunkworks.
C)   horse trading.
D)   bootlegging.
E)   brainstorming.F) C) and D)
G) B) and D)

Question 2

Describe the characteristics of a successful entrepreneur.

Accepted Answer

No single personality type predicts entr...

Question 3

Your roommate has accurately described some of the _____ of entrepreneurship.

Accepted Answer

A)   challenges
B)   opportunities
C)   realities
D)   myths
E)   factsF) C) and D)
G) B) and C)

Question 4

An)  _____ describes all the elements involved in starting a new venture.

Accepted Answer

A)   tax statement
B)   business plan
C)   financial planner
D)   contract
E)   accounting ledgerF) D) and E)
G) A) and B)

Question 5

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

Accepted Answer

A) True 
 B)False

Question 6

A small business differs from an entrepreneurial venture.

Accepted Answer

A) True 
 B)False

Question 7

In the context of the entrepreneurial strategy matrix, which of the following products is most likely to have the highest risks and returns?

Accepted Answer

A)   A commercial outfit
B)   A tax preparation service
C)   A new retail shop
D)   A new restaurant
E)   A lawn mowing serviceF) C) and D)
G) All of the above

Question 8

Polo Corp. brings buyers and sellers together and charges a commission for each sale. This type of business model is known as the

Accepted Answer

A)   transaction fee model.
B)   advertising support model.
C)   intermediary model.
D)   affiliate model.
E)   subscription model.F) B) and D)
G) All of the above

Question 9

The second step in building support for your idea is

Accepted Answer

A)   horse trading.
B)   making cheerleaders.
C)   getting the blessing.
D)   clearing the investment.
E)   persistence and logic.F) C) and E)
G) B) and C)

Question 10

______ usually prefer to own assets, whereas _____ often rent or use assets on a temporary basis.

Accepted Answer

A)   Entrepreneurs; franchisee
B)   Franchisees; managers
C)   Entrepreneurs; managers
D)   Managers; entrepreneurs
E)   Franchisors; franchiseesF) A) and E)
G) B) and E)

Question 11

The success of an entrepreneurial venture is often jeopardized by the death of its founder. Which of the following is an important measure to minimize this problem?

Accepted Answer

A)   conservative use of funds
B)   succession planning
C)   record keeping
D)   decreased delegation
E)   going publicF) B) and D)
G) B) and E)

Question 12

Harriet recently started her own business. She has nearly recreated a company she worked for previously. She has great business acumen and has been able to run her business much more efficiently and profitably. Harriet is an)

Accepted Answer

A)   promoter.
B)   entrepreneur.
C)   manager.
D)   intrapreneur.
E)   inventor.F) A) and E)
G) B) and D)

Question 13

In the transaction fee model, a website brings buyers and sellers together and charges a commission for each sale.

Accepted Answer

A) True 
 B)False

Question 14

In the context of the entrepreneurial strategy matrix, describe the four kinds of new ventures.

Accepted Answer

The entrepreneurial ...

Question 15

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.

Accepted Answer

A)   transaction fee
B)   advertising support
C)   intermediary
D)   affiliate
E)   subscriptionF) A) and B)
G) None of the above

Question 16

Which of the following individuals is most likely to become a successful entrepreneur?

Accepted Answer

A)   Nigel enjoys challenges, has a strong social network, has good knowledge of management techniques, and possesses excellent business skills.
B)   Hilary has an MBA and has been a manager in a corporate office for ten years. She likes a job to be well done and works best when she plans ahead.
C)   Phoebe likes to invent new products, enjoys working in the laboratory, and avoids conflict whenever possible. She has little knowledge of business.
D)   Kylie has strong marketing and selling skills, and loves challenges in these areas.
E)   Edward is creative, embraces new ideas and products, and likes to motivate others but prefers working by himself.F) C) and E)
G) C) and D)

Question 17

Distinguish between a small business and an entrepreneurial venture.

Accepted Answer

An entrepreneur's organization may be sm...

Question 18

Igor works as a technician for a large manufacturer of biomedical equipment. He has discovered a way to produce disposable products in large quantities that will be useful in research facilities. His employer has given Igor and a selected team of researchers the resources to develop this idea. This project is referred to as

Accepted Answer

A)   a spin-off.
B)   a skunkwork.
C)   bootlegging.
D)   horse trading.
E)   sponsorship.F) B) and C)
G) B) and D)

Question 19

The tourism industry at Mount Helens is an example of a business that was created as a result of

Accepted Answer

A)   a technological discovery.
B)   demographic changes.
C)   an economic dislocation.
D)   a calamity.
E)   government initiatives and rule changes.F) C) and D)
G) A) and D)

Question 20

There is a myth that entrepreneurs are essentially

Accepted Answer

A)   savers.
B)   gamblers.
C)   observers.
D)   planners.
E)   investors.F) A) and B)
G) A) and C)

Exam 6: Entrepreneurship

Polo Corp. brings buyers and sellers together and charges a commission for each sale. This type of business model is known as the

Correct Answer
verified

In the context of the entrepreneurial strategy matrix, which of the following products is most likely to have the highest risks and returns?

Correct Answer
verified

In the context of the entrepreneurial strategy matrix, describe the four kinds of new ventures.

Correct Answer
verified
The entrepreneurial ...
View Answer

Describe the characteristics of a successful entrepreneur.

Correct Answer
verified
No single personality type predicts entr...
View Answer

The second step in building support for your idea is

Correct Answer
verified

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.

Correct Answer
verified

Your roommate has accurately described some of the _____ of entrepreneurship.

Correct Answer
verified

When Frank worries about his network and the reputation of his business, he is concerned with

Correct Answer
verified

There is a myth that entrepreneurs are essentially

Correct Answer
verified

__ usually prefer to own assets, whereas _ often rent or use assets on a temporary basis.

Correct Answer
verified

Distinguish between a small business and an entrepreneurial venture.

Correct Answer
verified
An entrepreneur's organization may be sm...
View Answer

Harriet recently started her own business. She has nearly recreated a company she worked for previously. She has great business acumen and has been able to run her business much more efficiently and profitably. Harriet is an)

Correct Answer
verified

Correct Answer
verified

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

Correct Answer
verified

In the transaction fee model, a website brings buyers and sellers together and charges a commission for each sale.

Correct Answer
verified

An) _____ describes all the elements involved in starting a new venture.

Correct Answer
verified

A small business differs from an entrepreneurial venture.

Correct Answer
verified

The tourism industry at Mount Helens is an example of a business that was created as a result of

Correct Answer
verified

The success of an entrepreneurial venture is often jeopardized by the death of its founder. Which of the following is an important measure to minimize this problem?

Correct Answer
verified

Which of the following individuals is most likely to become a successful entrepreneur?

Correct Answer
verified

Exam 6: Entrepreneurship

Polo Corp. brings buyers and sellers together and charges a commission for each sale. This type of business model is known as the

Correct AnswerverifiedShow Answer

In the context of the entrepreneurial strategy matrix, which of the following products is most likely to have the highest risks and returns?

Correct AnswerverifiedShow Answer

In the context of the entrepreneurial strategy matrix, describe the four kinds of new ventures.

Correct AnswerverifiedThe entrepreneurial ...View AnswerShow Answer

Describe the characteristics of a successful entrepreneur.

Correct AnswerverifiedNo single personality type predicts entr...View AnswerShow Answer

The second step in building support for your idea is

Correct AnswerverifiedShow Answer

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.

Correct AnswerverifiedShow Answer

Your roommate has accurately described some of the _____ of entrepreneurship.

Correct AnswerverifiedShow Answer

When Frank worries about his network and the reputation of his business, he is concerned with

Correct AnswerverifiedShow Answer

There is a myth that entrepreneurs are essentially

Correct AnswerverifiedShow Answer

______ usually prefer to own assets, whereas _____ often rent or use assets on a temporary basis.

Correct AnswerverifiedShow Answer

Distinguish between a small business and an entrepreneurial venture.

Correct AnswerverifiedAn entrepreneur's organization may be sm...View AnswerShow Answer

Harriet recently started her own business. She has nearly recreated a company she worked for previously. She has great business acumen and has been able to run her business much more efficiently and profitably. Harriet is an)

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

In the transaction fee model, a website brings buyers and sellers together and charges a commission for each sale.

Correct AnswerverifiedShow Answer

An) _____ describes all the elements involved in starting a new venture.

Correct AnswerverifiedShow Answer

A small business differs from an entrepreneurial venture.

Correct AnswerverifiedShow Answer

The tourism industry at Mount Helens is an example of a business that was created as a result of

Correct AnswerverifiedShow Answer

The success of an entrepreneurial venture is often jeopardized by the death of its founder. Which of the following is an important measure to minimize this problem?

Correct AnswerverifiedShow Answer

Which of the following individuals is most likely to become a successful entrepreneur?

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
The entrepreneurial ...
View Answer

Correct Answer
verified
No single personality type predicts entr...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

__ usually prefer to own assets, whereas _ often rent or use assets on a temporary basis.

Correct Answer
verified

Correct Answer
verified
An entrepreneur's organization may be sm...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
verified

Correct Answer
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Correct Answer
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