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SiteTitle: Entrepreneurship:SuccessfullyLaunchingNewVentures,4/e
BookTitle: Entrepreneurship:SuccessfullyLaunchingNewVentures,4/e
BookAuthor: Barringer
LocationonSite: Chapter1>ChapterQuiz
Date/TimeSubmitted: March19,2016at11:34PM(UTC/GMT)
1.
SummaryofResults
95%Correctof20Scoreditems:
19Correct:
95%
1Incorrect: 5%
2questionsnotscored.20scoredquestions.
Moreinformationaboutscoring
EntrepreneurialbehaviortypicallyrequiresallofthefollowingEXCEPT:
YourAnswer: inventionofsomethingnew.
2.
_____isthepositionofafirmonacontinuumrangingfromhighlyconservativetohighlyentrepreneurial.
YourAnswer: Entrepreneurialintensity
3.
Whatisthemostcommonreasongivenforwhypeoplechoosetobecomeentrepreneurs?
YourAnswer: Tobetheirownboss.
4.
Someentrepreneursreportthatthefinancialrewardsassociatedwithentrepreneurshipcanbebittersweetiftheyare
accompaniedby________.
YourAnswer: losingcontrolofthefirm
5.
AllofthefollowingarecharacteristicssharedbysuccessfulentrepreneursEXCEPT:
YourAnswer: riskaverse.
6.
WhichofthefollowingisNOTacommonmythaboutentrepreneurs?
YourAnswer: Everyonehasthepotentialtobeanentrepreneur.
7.
Whatdoyoucallsmallfirmsthatyieldalevelofincomefortheirownerthatissimilartowhattheywouldearnwhen
workingforanemployer?
YourAnswer: salarysubstitutefirm
8.
_____ofthe27.5millionbusinessesintheUnitesStatesareownedbywomen,minorities,seniors,andyoungpeople.
YourAnswer: Agrowingnumber
9.
Influenceoninnovationandjobcreationbesttypifiesentrepreneurialfirms'________.
YourAnswer: economicimpact
10.
TheentrepreneurialprocessiscomprisedofeachofthefollowingstepsEXCEPT:
YourAnswer: inventinganewproductorprocess.
11.
IntheUnitedStates,approximatelyonethirdofnewfirmsfailwithintheirfirstfouryears.
YourAnswer: True
12.
Entrepreneurandinventormeanessentiallythesamething.
YourAnswer: False
13.
Entrepreneurshiponlypertainstostartingnewbusinesses,notexistingfirms.
YourAnswer: False
14.
TheaverageentrepreneurdoesNOTmakemoremoneythansomeonewithasimilaramountofresponsibilityina
traditionaljob.
YourAnswer: False
CorrectAnswer: True
Seep.9formoreinformation.
15.
Thenumberonecharacteristicsharedbysuccessfulentrepreneursiscreativity.
YourAnswer: False
16.
Executionintelligencereferstodevelopingabusinessmodel,puttingtogetheranewventureteam,raisingmoney,
establishingpartnerships,managingfinancesandleadingandmotivatingemployees.
YourAnswer: True
17.
Accordingtoresearch,mostentrepreneursareborn,notmade.
YourAnswer: False
18.
Onlyindividualsthatthriveontakingbigriskshavetherightpersonalitytobeanentrepreneur.
YourAnswer: False
19.
AfterwinningamedalfordivingintheOlympics,Cherylstartsadivinginstructionschool.Thisisanexampleofalifestyle
firm.
YourAnswer: True
20.
Inrecentyears,thefastestgrowingareasforwomenownedfirmshavebeenincosmetology,fashionmerchandising,and
hairsalons.
YourAnswer: False
21.
Discusentrepreneurship'simportancetotheeconomyandsocietyasawhole:
YourAnswer:
(blank)
22.
Whatarethestepsoftheentrepreneurialprocess?
YourAnswer:
(blank)