Question 1

Scenario A.Deanna leaves her job at a refrigerator manufacturing company and starts her own business.Her objective is to attain maximum growth and earn high profits.Deanna's friend Callie still works at the refrigerator manufacturing company,where she has started a business venture utilizing the company's resources.Gus,her colleague,states that he would make a successful entrepreneur because he is a gambler and believes that a good idea and talent lead to success within a year.
-By leaving her job and starting her own business,Deanna has become a(n)

Accepted Answer

A)  business incubator.
B)  entrepreneur.
C)  intrapreneur.
D)  horse trader.
E)  bootlegger.F) C) and D)
G) A) and D)

Question 2

While working at Advance Corp. ,Samantha has created a new venture based solely on her idea and Enterprisers' proprietary technology.Samantha can be described as a(n)

Accepted Answer

A)  intrapreneur.
B)  independent entrepreneur.
C)  sole proprietor.
D)  venture capitalist.
E)  franchisee.F) None of the above
G) D) and E)

Question 3

List the characteristics of a successful entrepreneur and explain each one.

Accepted Answer

The characteristics of a successful entr...

Question 4

Renaldo is creating a business plan.His first formal step should be to

Accepted Answer

A)  secure financing.
B)  write a business plan.
C)  conduct an opportunity analysis.
D)  get others to support one's ideas.
E)  hire the right people.F) A) and E)
G) B) and D)

Question 5

________ provides a lasting source of competitive advantage.

Accepted Answer

A)  Social capital
B)  Venture capital
C)  Bootlegging
D)  Horse trading
E)  Emotional intelligenceF) B) and E)
G) C) and E)

Question 6

YourWorks is on online business that allows people to upload their original artwork to be imprinted on cards and calendars,which are then offered for sale.What e-commerce model is YourWorks most likely using?

Accepted Answer

A)  affiliate
B)  intermediary
C)  advertising support
D)  subscription
E)  transaction feeF) A) and B)
G) A) and C)

Question 7

Benefits of business incubators typically include

Accepted Answer

A)  free rent.
B)  high security.
C)  venture capital.
D)  shared services.
E)  guaranteed profitability.F) B) and C)
G) D) and E)

Question 8

List a few myths about entrepreneurs and explain why they are myths.

Accepted Answer

Student answers will vary,but they shoul...

Question 9

Scenario A.Deanna leaves her job at a refrigerator manufacturing company and starts her own business.Her objective is to attain maximum growth and earn high profits.Deanna's friend Callie still works at the refrigerator manufacturing company,where she has started a business venture utilizing the company's resources.Gus,her colleague,states that he would make a successful entrepreneur because he is a gambler and believes that a good idea and talent lead to success within a year.
-From Scenario A,it can be understood that Callie is a(n)

Accepted Answer

A)  bootlegger.
B)  horse trader.
C)  social entrepreneur.
D)  business incubator.
E)  corporate entrepreneur.F) D) and E)
G) B) and D)

Question 10

Marta decided that a growing Latino population has created an opportunity to market her family's salsa recipes.Which type of opportunity is she focusing on?

Accepted Answer

A)  technological discoveries
B)  demographic change
C)  economic dislocations
D)  calamities
E)  government initiativesF) A) and E)
G) A) and D)

Question 11

Discuss at least three major management challenges associated with entrepreneurship.Include strategies to overcome the difficulties.

Accepted Answer

Student answers will vary,but should dem...

Question 12

The most dangerous risk in corporate entrepreneurship is possibility of

Accepted Answer

A)  supporting innovative and creative behaviors.
B)  relying too heavily on a single large project.
C)  working on a few underfunded projects.
D)  tolerating and encouraging bootlegging.
E)  rewarding risk takers.F) A) and E)
G) B) and E)

Question 13

Successfully fostering and managing intrapreneurship requires the company to

Accepted Answer

A)  discourage bootlegging.
B)  focus on one project.
C)  reward risk taking.
D)  manage many small projects.
E)  minimize competition.F) C) and D)
G) B) and E) C

Question 14

A(n) ________ is a formal planning step that focuses on an entire venture and describes all the elements involved in starting it.

Accepted Answer

A)  business plan
B)  operational plan
C)  opportunity analysis
D)  trend analysis
E)  strategic planF) D) and E)
G) C) and D)

Question 15

Which of the following nonfinancial resources is crucial to the success of a new business?

Accepted Answer

A)  transaction fees
B)  bootleggers
C)  cheerleaders
D)  top management teams
E)  horse tradersF) D) and E)
G) B) and D) D

Question 16

Marina is developing a new software company.She locates her business in an industrial park that offers low rent and shared support staff to start-up companies.This is an example of a

Accepted Answer

A)  skunkworks.
B)  spin-off.
C)  franchise.
D)  bootlegging operation.
E)  business incubator.F) All of the above
G) B) and E)

Question 17

Which of the following e-commerce models is an online newspaper most likely to use?

Accepted Answer

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

Question 18

Protected environments for new,small business are known as

Accepted Answer

A)  business incubators.
B)  business accelerators.
C)  business shelters.
D)  skunkworks.
E)  bootleggers.F) A) and C)
G) B) and C)

Question 19

________ are project teams designated to produce a new product.

Accepted Answer

A)  Bootleggers
B)  Skunkworks
C)  Intrapreneurs
D)  Affiliates
E)  IncubatorsF) C) and D)
G) None of the above

Question 20

________ are also referred to as corporate entrepreneurs.

Accepted Answer

A)  Franchisors
B)  Intrapreneurs
C)  Knowledge workers
D)  Sole proprietors
E)  FranchiseesF) A) and B)
G) A) and C) B

Exam 7: Entrepreneurship

Correct Answer
verified

While working at Advance Corp. ,Samantha has created a new venture based solely on her idea and Enterprisers' proprietary technology.Samantha can be described as a(n)

Correct Answer
verified

List the characteristics of a successful entrepreneur and explain each one.

Correct Answer
verified
The characteristics of a successful entr...
View Answer

Renaldo is creating a business plan.His first formal step should be to

Correct Answer
verified

________ provides a lasting source of competitive advantage.

Correct Answer
verified

YourWorks is on online business that allows people to upload their original artwork to be imprinted on cards and calendars,which are then offered for sale.What e-commerce model is YourWorks most likely using?

Correct Answer
verified

Benefits of business incubators typically include

Correct Answer
verified

List a few myths about entrepreneurs and explain why they are myths.

Correct Answer
verified
Student answers will vary,but they shoul...
View Answer

Correct Answer
verified

Marta decided that a growing Latino population has created an opportunity to market her family's salsa recipes.Which type of opportunity is she focusing on?

Correct Answer
verified

Discuss at least three major management challenges associated with entrepreneurship.Include strategies to overcome the difficulties.

Correct Answer
verified
Student answers will vary,but should dem...
View Answer

The most dangerous risk in corporate entrepreneurship is possibility of

Correct Answer
verified

Successfully fostering and managing intrapreneurship requires the company to

Correct Answer
verified
C

A(n) ________ is a formal planning step that focuses on an entire venture and describes all the elements involved in starting it.

Correct Answer
verified

Which of the following nonfinancial resources is crucial to the success of a new business?

Correct Answer
verified
D

Marina is developing a new software company.She locates her business in an industrial park that offers low rent and shared support staff to start-up companies.This is an example of a

Correct Answer
verified

Which of the following e-commerce models is an online newspaper most likely to use?

Correct Answer
verified

Protected environments for new,small business are known as

Correct Answer
verified

________ are project teams designated to produce a new product.

Correct Answer
verified

________ are also referred to as corporate entrepreneurs.

Correct Answer
verified
B

Exam 7: Entrepreneurship

Correct AnswerverifiedShow Answer

While working at Advance Corp. ,Samantha has created a new venture based solely on her idea and Enterprisers' proprietary technology.Samantha can be described as a(n)

Correct AnswerverifiedShow Answer

List the characteristics of a successful entrepreneur and explain each one.

Correct AnswerverifiedThe characteristics of a successful entr...View AnswerShow Answer

Renaldo is creating a business plan.His first formal step should be to

Correct AnswerverifiedShow Answer

________ provides a lasting source of competitive advantage.

Correct AnswerverifiedShow Answer

YourWorks is on online business that allows people to upload their original artwork to be imprinted on cards and calendars,which are then offered for sale.What e-commerce model is YourWorks most likely using?

Correct AnswerverifiedShow Answer

Benefits of business incubators typically include

Correct AnswerverifiedShow Answer

List a few myths about entrepreneurs and explain why they are myths.

Correct AnswerverifiedStudent answers will vary,but they shoul...View AnswerShow Answer

Correct AnswerverifiedShow Answer

Marta decided that a growing Latino population has created an opportunity to market her family's salsa recipes.Which type of opportunity is she focusing on?

Correct AnswerverifiedShow Answer

Discuss at least three major management challenges associated with entrepreneurship.Include strategies to overcome the difficulties.

Correct AnswerverifiedStudent answers will vary,but should dem...View AnswerShow Answer

The most dangerous risk in corporate entrepreneurship is possibility of

Correct AnswerverifiedShow Answer

Successfully fostering and managing intrapreneurship requires the company to

Correct AnswerverifiedC

A(n) ________ is a formal planning step that focuses on an entire venture and describes all the elements involved in starting it.

Correct AnswerverifiedShow Answer

Which of the following nonfinancial resources is crucial to the success of a new business?

Correct AnswerverifiedD

Marina is developing a new software company.She locates her business in an industrial park that offers low rent and shared support staff to start-up companies.This is an example of a

Correct AnswerverifiedShow Answer

Which of the following e-commerce models is an online newspaper most likely to use?

Correct AnswerverifiedShow Answer

Protected environments for new,small business are known as

Correct AnswerverifiedShow Answer

________ are project teams designated to produce a new product.

Correct AnswerverifiedShow Answer

________ are also referred to as corporate entrepreneurs.

Correct AnswerverifiedB

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
The characteristics of a successful entr...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Student answers will vary,but they shoul...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Student answers will vary,but should dem...
View Answer

Correct Answer
verified

Correct Answer
verified
C

Correct Answer
verified

Correct Answer
verified
D

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
B