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1. To determine the overall number of business enterprises, you could check with which of the following sources of data? (Points: 5)


        The IRS


        The Federal Reserve


        National Federation of Independent Business


        A business statistics textbook


 


 


2. Which of the following statements depicts a development discovered in research and education concerning entrepreneurship? (Points: 5)


        Entrepreneurship and management are mutually exclusive domains.


        Venture financing has been reduced in the amounts available for entrepreneurs.


        Entrepreneurship education has become one of the fastest growing topics in business schools.


        Women entrepreneurs are not emerging in very large numbers.


 


 


3. Which of the following statements best describes a “gazelle”? (Points: 5)


        A business with at least 20% growth every year


        A business with no sales growth


        A business that has acquired numerous firms


        An inventor who turned business person


 


 


4. Which is the main reason for small venture owners to maintain Web sites? (Points: 5)


        Advertising


        Ability to reach new and potential customers


        Business-to-business transactions


        Employee networks


 


 


5. ICANN is an acronym for: (Points: 5)


        International Corporation for Active Names and Numbers.


        Internet Corporation for Assigned Names and Numbers.


        Internet Commission for Active Names and Numbers.


        International Commission for Assigned Names and Numbers.


 


 


6. The Ernst and Young 3P strategy for pursuing the ecommerce route refers to: (Points: 5)


        possibility, potential, and profits.


        persistence, profits, and payoff.


        presence, profitability, and penetration.


        potential, possibilities, and profits.


 


 


7. The word entrepreneur is derived from the French entreprendre, which is translated as: (Points: 5)


        to apprehend.


        to undertake.


        to compete.


        to enter and dare.


 


 


8. Which is an essential ingredient in an entrepreneurship? (Points: 5)


        Identifying the strengths of a venture


        Setting up clear timetables


        The willingness to take calculated risks


        The product itself


 


 


9. The corridor principle is best described by which of the following statements? (Points: 5)


        If at first you don’t succeed, try, try, again.


        Be in the right place at the right time.


        With every venture launched, new and unintended opportunities arise.


        Luck happens when preparation meets opportunity.


 


 


10. A large number of business failures occur because of: (Points: 5)


        a lack of planning and money.


        insufficient advertising.


        a poor product line.


        a lack of timing and luck.


 


 


11. Michael Gerber’s book The E-Myth explains the failure of most small businesses is due to: (Points: 5)


        owners being more technicians rather than entrepreneurs.


        owners being more managerial rather than technical.


        owners being more entrepreneurial rather than managerial.


        owners being more customers rather than business people.


 


 


12. The macro view of entrepreneurship presents factors exhibiting a strong: (Points: 5)


        internal locus of control.


        external locus of control.


        environmental locus of control.


        contemporary locus of control.


 


 


13. The macro view can be broken down into which three areas? (Points: 5)


        Environmental, financial, and displacement


        Financial/capital, strategic, and opportunity


        Displacement, trait, and financial


        Entrepreneurial trait, opportunity, and strategic


 


 


14. Creativity and market awareness are viewed as essential elements for which of the following? (Points: 5)


        Strategic formulation school of thought


        Displacement school of thought


        Venture opportunity school of thought


        Financial school of thought


 


 


15. Water well strategies refer to: (Points: 5)


        unique resources.


        unique products.


        unique markets.


        unique products.


 


 


16. The need for achievement would be under which dimension of the multidimensional approach? (Points: 5)


        Environment


        Individual


        Organization


        Process


 


 


17. One reason why intrapreneurship has done so well is that it allows organizations to: (Points: 5)


        increase salaries.


        fire the dead wood.


        encourage high risk taking.


        tap the innovative talents of their people.


 


 


18. Which of the following is an obstacle to corporate entrepreneurship? (Points: 5)


        Orientation to the market


        A system of feedback and positive reinforcement


        Traditional management techniques


        Rewards based upon results


 


 


19. Groups that function outside traditional lines of authority permitting rapid turnaround of new ideas as well as instilling a high level of group loyalty are called: (Points: 5)


        skunkworks.


        multiple approaches.


        champions.


        strategic innovators.


 


 


20. Which of the following terms represents the systematic evolution of a product or service into newer or larger markets? (Points: 5)


        Radical innovation


        Incremental innovation


        Collective entrepreneurship


        Strategic management

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