Question 1

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)

Accepted Answer

A)   value chain.
B)   control system.
C)   opportunity analysis.
D)   business audit.
E)   organization chart.F) All of the above
G) A) and B)

Question 2

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

Accepted Answer

A)   upper left
B)   low risk
C)   upper right
D)   lower right
E)   high innovationF) None of the above
G) A) and B)

Question 3

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.

Accepted Answer

A)   business incubator; monopolized
B)   opportunity; avoided
C)   intrapreneurship; avoided
D)   opportunity; rejected
E)   intrapreneurship; failed atF) A) and D)
G) A) and E)

Question 4

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

Accepted Answer

A) True 
 B)False

Question 5

Discuss how an entrepreneur decides on an economic opportunity.

Accepted Answer

Entrepreneurs spot, create, and exploit ...

Question 6

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

Accepted Answer

A)   low innovation/high risk.
B)   low innovation/low risk.
C)   high innovation/low risk.
D)   high innovation/high risk.
E)   high innovation/no risk.F) B) and D)
G) A) and B)

Question 7

What are some of the reasons people become entrepreneurs?

Accepted Answer

Entrepreneurs start their own firms beca...

Question 8

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

Accepted Answer

A)   opportunity analysis.
B)   competitive aggressiveness.
C)   proactiveness.
D)   innovativeness.
E)   ethical patterns.F) A) and D)
G) A) and B)

Question 9

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.

Accepted Answer

A)   making cheerleaders
B)   bootlegging
C)   horse trading
D)   clearing the investment
E)   gettting the blessingF) B) and D)
G) A) and D)

Question 10

Entrepreneurs are NOT

Accepted Answer

A)   tolerant of stress.
B)   risk takers.
C)   able to resolve problems.
D)   making only safe decisions.
E)   risk managers.F) B) and C)
G) A) and E)

Question 11

________ is a benefit of business incubators.

Accepted Answer

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

Question 12

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 C)
G) D) and E)

Question 13

________ 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.

Accepted Answer

A)   Intrapreneurs
B)   Entrepreneurs
C)   Sole proprietors
D)   Management novices
E)   LicenseesF) A) and C)
G) None of the above

Question 14

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

Accepted Answer

A)   making cheerleaders.
B)   bootlegging.
C)   horse trading.
D)   clearing the investment.
E)   getting the blessing.F) None of the above
G) B) and D)

Question 15

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.

Accepted Answer

A)   spin-off
B)   skunkworks
C)   bootlegging
D)   social capital
E)   venture capitalF) C) and E)
G) A) and B)

Question 16

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.

Accepted Answer

A)   social capital
B)   side street effect
C)   small business
D)   start-up capital
E)   demographic changeF) A) and B)
G) None of the above

Question 17

The most dangerous risk in intrapreneurship is that of

Accepted Answer

A)   spreading intrapreneurial efforts over too many projects.
B)   overrelying on a single large project.
C)   working on too many underfunded projects.
D)   maintaining the status quo.
E)   engaging in prospects that are too risky.F) B) and C)
G) A) and D)

Question 18

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

Accepted Answer

A)   They believe that a strong marketing campaign is the best for an entrepreneurial venture.
B)   They believe that a good quality product is the best bet for an entrepreneurial venture.
C)   They believe that the venture with the highest projected profit is the best.
D)   They believe that the greater the strength of a venture, the better it is.
E)   They believe that what counts is a person's ability to execute an idea.F) C) and E)
G) None of the above

Question 19

________ use networks of contacts more than formal authority.

Accepted Answer

A)   Managers
B)   Entrepreneurs
C)   Small businesses
D)   Franchisees
E)   FranchisorsF) A) and B)
G) B) and D)

Question 20

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

Accepted Answer

A) True 
 B)False

Exam 6: Entrepreneurship

Discuss how an entrepreneur decides on an economic opportunity.

Correct Answer
verified
Entrepreneurs spot, create, and exploit ...
View Answer

What are some of the reasons people become entrepreneurs?

Correct Answer
verified
Entrepreneurs start their own firms beca...
View Answer

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

Correct Answer
verified

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

Correct Answer
verified

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)

Correct Answer
verified

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.

Correct Answer
verified

Correct Answer
verified

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

Correct Answer
verified

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.

Correct Answer
verified

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

Correct Answer
verified

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

Correct Answer
verified

________ use networks of contacts more than formal authority.

Correct Answer
verified

________ is a benefit of business incubators.

Correct Answer
verified

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

Correct Answer
verified

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

Correct Answer
verified

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.

Correct Answer
verified

________ 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.

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

The most dangerous risk in intrapreneurship is that of

Correct Answer
verified

Entrepreneurs are NOT

Correct Answer
verified

Exam 6: Entrepreneurship

Discuss how an entrepreneur decides on an economic opportunity.

Correct AnswerverifiedEntrepreneurs spot, create, and exploit ...View AnswerShow Answer

What are some of the reasons people become entrepreneurs?

Correct AnswerverifiedEntrepreneurs start their own firms beca...View AnswerShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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)

Correct AnswerverifiedShow Answer

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.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

________ use networks of contacts more than formal authority.

Correct AnswerverifiedShow Answer

________ is a benefit of business incubators.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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.

Correct AnswerverifiedShow Answer

________ 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.

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

The most dangerous risk in intrapreneurship is that of

Correct AnswerverifiedShow Answer

Entrepreneurs are NOT

Correct AnswerverifiedShow Answer

Correct Answer
verified
Entrepreneurs spot, create, and exploit ...
View Answer

Correct Answer
verified
Entrepreneurs start their own firms beca...
View Answer

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
verified

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.

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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