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Exam 1: Practicing Entrepreneurship

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Question 1

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By definition,a ______ is a systematic way of approaching a task.

A) process
B) method
C) straight-line
D) collaborative

E) A) and C)
F) A) and B)

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Question 2

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______ are people who start several businesses,whether at the same time or one after the other.

A) Social entrepreneurs
B) Serial entrepreneurs
C) High-risk entrepreneurs
D) Low-risk entrepreneurs

E) None of the above
F) A) and B)

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Question 3

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The entrepreneurial method requires consistent practice so that ______ can be continuously developed and applied to future endeavors.

Family-owned businesses account for ______ of new jobs in the U.S.economy.

According to the textbook,entrepreneurship has traditionally been viewed as ______.

Your classmate is planning a new venture.He has spent a lot of time on planning and analysis,taking a managerial approach as he attempts to predict the future.This type of path is typically taken by what type of entrepreneur?

According to the authors,anything you do that requires deliberate practice helps develop ______,which is/are transferable to entrepreneurship.

Successful entrepreneurs have a tendency to collaborate with competitors.

As an entrepreneur,if you have to choose between planning an action and taking an action,you should opt for taking the action.

Discuss the Act-Learn-Build model as it relates to risk takers.

Michael is a franchise restaurant owner.Which of the following best describes his franchising costs?

Discuss the statement "Entrepreneurship can be taught (it's a method that requires practice.)" Do you agree? Why or why not?

Bill Gates and Mark Zuckerberg are shining examples of overnight success.

As babies,we learned by trial and error.Through traditional education,we think more like ______.

The process approach to entrepreneurship emphasizes ______.

Bill is the paternal head of his family as well as the family enterprise.He is concerned about the business and wants to ensure its survival for the long run.You,as a consultant,advise him to focus on ______.

High performers use ______ to carry out carefully focused efforts to improve performance.

Tony is a manager at a company that builds solar panels.In his position,he used the feedback from his team members as the basis of a plan for the company to start installing the solar panels in order to enhance the company's competitive position and profitability.Tony is an example of a(n) ______.

Corporate entrepreneurship and intrapreneurship are different processes.

Research revealed what percentage of Inc.500 founders wrote formal business plans prior to launching their companies?