Question 1

Discuss the role that the following groups are playing in leading the ongoing surge in entrepreneurial activity:
∙ women
∙ minorities
∙ immigrants
∙ part-time entrepreneurs
∙ home-based entrepreneurs
∙ family businesses
∙ copreneurs
∙ corporate castoffs
∙ corporate dropouts

Accepted Answer

Women often face discrimination in the w...

Question 2

Entrepreneurs tend to be overly ________ and commonly misjudge the ________ requirements of going into business.

Accepted Answer

A)  optimistic; personal
B)  optimistic; financial
C)  pessimistic; financial
D)  optimistic; professionalE) A) and D)
F) All of the above

Question 3

Women in business still experience ________ as they attempt to break the "glass ceiling."

Accepted Answer

A)  success
B)  opportunities
C)  discrimination
D)  ease of navigationE) B) and C)
F) C) and D)

Question 4

Which of the following statements about women-owned businesses is false?

Accepted Answer

A)  The businesses women start tend to be smaller than those men start.
B)  Women own about 28 percent of all privately-held businesses in the U.S.
C)  The number of women-owned businesses is growing slower than the national average.
D)  Women-owned companies are far less likely to attract equity capital investments as those that men start.E) B) and D)
F) B) and C)

Question 5

One advantage of being your own boss and owning a small business is that work hours are very flexible and leisure time is abundant.

Accepted Answer

A) True 
 B)False

Question 6

One study conducted by the Global Entrepreneurship Monitor (GEM)reports that nearly one in eight people in the United States is working to start a business.

Accepted Answer

A) True 
 B)False

Question 7

Describe the factors that are driving the current entrepreneurial trend in the U.S. economy.

Accepted Answer

∙ A more positive attitude toward entrep...

Question 8

Successful entrepreneurs recognize that their most valuable asset is their time, and they learn to manage it effectively to make themselves and their companies more productive; having passion about their businesses, products, and customers enables them to stay motivated.

Accepted Answer

A) True 
 B)False

Question 9

Within five years, ________ percent of new businesses will fail.

Accepted Answer

A)  21
B)  45
C)  52
D)  65E) B) and C)
F) None of the above

Question 10

Which of the following is a characteristic of copreneurs?

Accepted Answer

A)  Mutual respect
B)  Complementary business skills
C)  A clear division of roles and authority
D)  All of the aboveE) B) and D)
F) A) and B)

Question 11

Ninety percent of businesses in the United States are family-owned and managed and account for 62 percent of total U.S. employment.

Accepted Answer

A) True 
 B)False

Question 12

Which of the following is/are true regarding business plans?

Accepted Answer

A)  Provide a pathway to success.
B)  Allow entrepreneurs to replace faulty assumptions with facts before making the decision to go into business.
C)  Create a benchmark against which entrepreneurs can measure actual company performance.
D)  All of the aboveE) A) and C)
F) C) and D)

Question 13

Small companies that operate globally from their inception are referred to as ________.

Accepted Answer

A)  micromultinationals
B)  intrapreneurial ventures
C)  global companies
D)  international companiesE) None of the above
F) A) and B)

Question 14

Research shows that the top-performing ________ percent of small companies create 67 percent of the net new jobs in the economy.

Accepted Answer

A)  90
B)  80
C)  5
D)  10E) B) and D)
F) B) and C)

Question 15

Serial entrepreneurs repeatedly start businesses and grow them to a sustainable size before striking out again.

Accepted Answer

A) True 
 B)False

Question 16

Corporate downsizing has spawned a generation of entrepreneurs known as "corporate castoffs."

Accepted Answer

A) True 
 B)False

Question 17

If an entrepreneur has a good enough product or service to sell, a business plan is not really necessary since the product or service will sell itself.

Accepted Answer

A) True 
 B)False

Question 18

Women play a minor role in the entrepreneurial arena.

Accepted Answer

A) True 
 B)False

Question 19

Too many entrepreneurs start their business undercapitalized.

Accepted Answer

A) True 
 B)False

Question 20

In addition to the opportunity to create their own destiny and enjoy what they do, entrepreneurs also benefit from the ability to ________.

Accepted Answer

A)  earn tremendous wealth without risk and uncertainty
B)  make a difference in an area important to them and be recognized for those efforts
C)  create wealth without providing true value
D)  exploit the opportunities that the free enterprise system offersE) A) and C)
F) None of the above

Exam 1: The Foundations of Entrepreneurship

Corporate downsizing has spawned a generation of entrepreneurs known as "corporate castoffs."

Correct AnswerverifiedShow Answer

Describe the factors that are driving the current entrepreneurial trend in the U.S. economy.

Correct Answerverified∙ A more positive attitude toward entrep...View AnswerShow Answer

Research shows that the top-performing ________ percent of small companies create 67 percent of the net new jobs in the economy.

Correct AnswerverifiedShow Answer

Small companies that operate globally from their inception are referred to as ________.

Correct AnswerverifiedShow Answer

Women play a minor role in the entrepreneurial arena.

Correct AnswerverifiedShow Answer

If an entrepreneur has a good enough product or service to sell, a business plan is not really necessary since the product or service will sell itself.

Correct AnswerverifiedShow Answer

Successful entrepreneurs recognize that their most valuable asset is their time, and they learn to manage it effectively to make themselves and their companies more productive; having passion about their businesses, products, and customers enables them to stay motivated.

Correct AnswerverifiedShow Answer

Ninety percent of businesses in the United States are family-owned and managed and account for 62 percent of total U.S. employment.

Correct AnswerverifiedShow Answer

Too many entrepreneurs start their business undercapitalized.

Correct AnswerverifiedShow Answer

Entrepreneurs tend to be overly ________ and commonly misjudge the ________ requirements of going into business.

Correct AnswerverifiedShow Answer

Which of the following is a characteristic of copreneurs?

Correct AnswerverifiedShow Answer

One study conducted by the Global Entrepreneurship Monitor (GEM)reports that nearly one in eight people in the United States is working to start a business.

Correct AnswerverifiedShow Answer

Discuss the role that the following groups are playing in leading the ongoing surge in entrepreneurial activity: ∙ women ∙ minorities ∙ immigrants ∙ part-time entrepreneurs ∙ home-based entrepreneurs ∙ family businesses ∙ copreneurs ∙ corporate castoffs ∙ corporate dropouts

Correct AnswerverifiedWomen often face discrimination in the w...View AnswerShow Answer

Women in business still experience ________ as they attempt to break the "glass ceiling."

Correct AnswerverifiedShow Answer

In addition to the opportunity to create their own destiny and enjoy what they do, entrepreneurs also benefit from the ability to ________.

Correct AnswerverifiedShow Answer

Within five years, ________ percent of new businesses will fail.

Correct AnswerverifiedShow Answer

Which of the following is/are true regarding business plans?

Correct AnswerverifiedShow Answer

Which of the following statements about women-owned businesses is false?

Correct AnswerverifiedShow Answer

Serial entrepreneurs repeatedly start businesses and grow them to a sustainable size before striking out again.

Correct AnswerverifiedShow Answer

One advantage of being your own boss and owning a small business is that work hours are very flexible and leisure time is abundant.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified
∙ A more positive attitude toward entrep...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Entrepreneurs tend to be overly and commonly misjudge the requirements of going into business.

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Women often face discrimination in the w...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified