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978-0134729534 Chapter 1 Part 1
Chapter 1: Introduction to Entrepreneurship 1 CHAPTER 1 INTRODUCTION TO ENTREPRENEURSHIP LEARNING OBJECTIVES After studying this chapter students should be ready to: 1. Describe entrepreneurship, corporate entrepreneurship, and the characteristics of entrepreneurial firms. 2. Discuss three main reasons people decide […]
978-0134729534 Chapter 1 Part 2
Chapter 1: Introduction to Entrepreneurship Copyright © 2019 Pearson Education, Inc. 1-3. What does evidence show us about the rate of failure associated with entrepreneurial ventures? Answer: One criticism of entrepreneurship, which is often repeated in the press, is that […]
978-0134729534 Chapter 10 Part 1
Chapter 10: Getting Financing or Funding 202 CHAPTER 10 GETTING FINANCING OR FUNDING LEARNING OBJECTIVES 1. Describe the importance of financing for entrepreneurial success. 2. Explain why most entrepreneurial ventures need to raise money during their early life. 3. Identify […]
978-0134729534 Chapter 10 Part 2
Chapter 10: Getting Financing or Funding Copyright © 2019 Pearson Education, Inc. bootstrapping is very important for entrepreneurial firms. Because it’s hard for new firms to get financing or funding early on, many entrepreneurs bootstrap out of necessity. As a […]
978-0134729534 Chapter 11 Part 1
Chapter 11: Unique Marketing Issues 224 CHAPTER 11 UNIQUE MARKETING ISSUES LEARNING OBJECTIVES 1. Explain the three steps (segmenting the market, selecting a target market, and establishing a unique market position) entrepreneurial firms use to identify their customers. 2. Define […]
978-0134729534 Chapter 11 Part 2
Chapter 11: Unique Marketing Issues Copyright © 2019 Pearson Education, Inc. 11-6. What is a tagline? What is your favorite tagline? Why? Answer: A tagline is a phrase that is used consistently in a company’s literature and promotional material. An […]
978-0134729534 Chapter 12 Part 1
Chapter 12: The Importance of Intellectual Property Copyright © 2019 Pearson Education, Inc. 246 CHAPTER 12 THE IMPORTANCE OF INTELLECTUAL PROPERTY LEARNING OBJECTIVES 1. Define the term intellectual property and describe its importance. 2. Explain what a patent is and […]
978-0134729534 Chapter 12 Part 2
Chapter 12: The Importance of Intellectual Property Copyright © 2019 Pearson Education, Inc. Posting queries in the chat rooms and discussion forums of the entrepreneurship- focused social networks talked about in this book is a good place to start. REVIEW […]
978-0134729534 Chapter 13
Chapter 13: Preparing for and Evaluating the Challenges of Growth CHAPTER 13 PREPARING FOR AND EVALUATING THE CHALLENGES OF GROWTH LEARNING OBJECTIVES 1. Describe how firms can properly prepare for growth. 2. Discuss the six most common reasons firms pursue […]
978-0134729534 Chapter 14
Chapter 14: Strategies for Firm Growth CHAPTER 14 STRATEGIES FOR FIRM GROWTH LEARNING OBJECTIVES 1. Identify and discuss the core internal growth strategy for entrepreneurial firms. 2. Describe additional internal product-growth strategies entrepreneurial firms can use. 3. Examine international expansion […]
978-0134729534 Chapter 15 Part 1
Chapter 15: Franchising 308 CHAPTER 15 FRANCHISING LEARNING OBJECTIVES 1. Explain franchising and how this form of business ownership works. 2. Describe steps entrepreneurs can take to establish a franchise system. 3. Become familiar with the advantages and disadvantages of […]
978-0134729534 Chapter 15 Part 2
Chapter 15: Franchising net income), they are still obligated to pay a royalty on their revenues. 15-12. What are some resources available to you as a prospective franchisee to identify franchise opportunities? Answer: There are many periodicals, Web sites, and […]
978-0134729534 Chapter 2 Part 1
Chapter 2: Recognizing Opportunities and Generating Ideas 23 CHAPTER 2 RECOGNIZING OPPORTUNITIES AND GENERATING IDEAS LEARNING OBJECTIVES 1. Explain the difference between opportunities and ideas. 2. Describe the three general approaches entrepreneurs use to identify opportunities. 3. Discuss the personal […]
978-0134729534 Chapter 2 Part 2
Chapter 2: Recognizing Opportunities and Generating Ideas Copyright © 2019 Pearson Education, Inc. Environmental Factor Business Opportunity it Might Create Economic factor An increase in disposable income in the hands of teenagers creates opportunities to create new electronics products that […]
978-0134729534 Chapter 3 Part 1
Chapter 3: Feasibility Analysis 44 CHAPTER 3 FEASIBILITY ANALYSIS LEARNING OBJECTIVES 1. Explain what a feasibility analysis is and why it’s important. 2. Describe a product/service feasibility analysis, explain its purpose, and discuss the two primary issues that a proposed […]
978-0134729534 Chapter 3 Part 2
Chapter 3: Feasibility Analysis Copyright © 2019 Pearson Education, Inc. attack a small target market or a segment within a larger target market, at least at the outset. 3-11. What are some of the ways to determine the attractiveness of […]
978-0134729534 Chapter 5 Part 1
Chapter 5: Industry and Competitor Analysis 87 CHAPTER 5 INDUSTRY AND COMPETITOR ANALYSIS LEARNING OBJECTIVES 1. Explain the purpose of an industry analysis. 2. Identify and discuss the five competitive forces that determine industry profitability. 3. Explain the value that […]
978-0134729534 Chapter 5 Part 2
Chapter 5: Industry and Competitor Analysis Copyright © 2019 Pearson Education, Inc. 5-8. How does rivalry among existing firms have the potential to suppress an industry’s profitability? Answer: In most industries, the major determinant of industry profitability is the level […]
978-0134729534 Chapter 6 Part 1
Chapter 6: Writing a Business Plan 111 CHAPTER 6 WRITING A BUSINESS PLAN LEARNING OBJECTIVES 1. Explain the purpose of a business plan. 2. Describe who reads a business plan and what they are looking for. 3. Discuss the guidelines […]
978-0134729534 Chapter 6 Part 2
Chapter 6: Writing a Business Plan Copyright © 2019 Pearson Education, Inc. 6-5. It is often argued that the process of writing a business plan is as important as the plan itself, particularly for the top management team of a […]
978-0134729534 Chapter 7 Part 1
Chapter 7: Preparing a Proper Ethical and Legal Foundation 135 CHAPTER 7 PREPARING THE PROPER ETHICAL AND LEGAL FOUNDATION LEARNING OBJECTIVES 1. Discuss the actions founders can take to establish a strong ethical culture in their entrepreneurial ventures. 2. Describe […]
978-0134729534 Chapter 7 Part 2
Chapter 7: Preparing a Proper Ethical and Legal Foundation Copyright © 2019 Pearson Education, Inc. 7-7. What are some of the more important criteria to consider when selecting an attorney for a new firm? Answer: Table 7.3 in the textbook […]
978-0134729534 Chapter 8 Part 1
Chapter 8: Assessing a New Venture’s Financial Strength and Viability 161 CHAPTER 8 ASSESSING A NEW VENTURE’S FINANCIAL STRENGTH AND VIABILITY LEARNING OBJECTIVES 1. Learn about the importance of understanding the financial management of an entrepreneurial firm. 2. Identify the […]
978-0134729534 Chapter 8 Part 2
Chapter 8: Assessing a New Venture’s Financial Strength and Viability Copyright © 2019 Pearson Education, Inc. 8-7. On what factors or conditions do completely new firms base their forecasts? Answer: New ventures typically base their forecasts on an estimate of […]
978-0134729534 Test Bank Chapter 01 Part 2
13 Copyright © 2019 Pearson Education, Inc. 40) According to Chapter 1, a sentiment that venture capitalists often express is that ________. A) the strength of the entrepreneur and the strength of the business idea are of equal importance B) […]
978-0134729534 Test Bank Chapter 02 Part 1
1 Entrepreneurship: Successfully Launching New Ventures, 6e (Barringer/Ireland) Chapter 2 Recognizing Opportunities and Generating Ideas 1) Wiivv, the company profiled in the opening feature of Chapter 2, is in the 3D printing business of footwear insoles. To manufacture the insoles, […]
978-0134729534 Test Bank Chapter 02 Part 2
40) An individual who identifies a business idea on his or her own is referred to as a(n) ________ entrepreneur. A) separate B) functional C) lone D) individual E) solo Answer: E Diff: 2 LO: 2.3: Discuss the personal characteristics […]
978-0134729534 Test Bank Chapter 03 Part 1
1 Entrepreneurship: Successfully Launching New Ventures, 6e (Barringer/Ireland) Chapter 3 Feasibility Analysis 1) Owlet Baby Care, the company profiled in the opening feature of Chapter 3, produces a “smart sock” that can be used to monitor a baby via an […]
978-0134729534 Test Bank Chapter 03 Part 2
13 41) ________ feasibility analysis is an assessment of the overall appeal of the industry and market for the product or service being proposed. A) Institutional B) Financial C) Organizational D) Product/service E) Industry/target market Answer: E Diff: 1 LO: […]
978-0134729534 Test Bank Chapter 04 Part 1
Entrepreneurship: Successfully Launching New Ventures, 6e (Barringer/Ireland) Chapter 4 Developing an Effective Business Model 1) IndieU is the focus of the opening feature of Chapter 4. Connecting college students with new indie artists and putting it in the students’ hands […]
978-0134729534 Test Bank Chapter 04 Part 2
39) A company’s ________ scope defines the products and markets on which it will concentrate. A) product/market B) offering/industry C) business/market D) business/industry E) offering/market Answer: A Diff: 2 LO: 4.3: Explain the components of the Barringer/Ireland Business Model Template […]
978-0134729534 Test Bank Chapter 05 Part 1
Entrepreneurship: Successfully Launching New Ventures, 6e (Barringer/Ireland) Chapter 5 Industry and Competitor Analysis 1) WriteLab, the company profiled in the opening feature of Chapter 5, believes it has created a barrier to entry to enable it to maintain a leadership […]
978-0134729534 Test Bank Chapter 05 Part 2
39) Brain Sentry is starting a firm in the small industry that helps football teams discern whether a player has suffered a concussion. This industry is still so new that no standard operating procedures have been developed. The industry Brain […]
978-0134729534 Test Bank Chapter 06 Part 1
Entrepreneurship: Successfully Launching New Ventures, 6e (Barringer/Ireland) Chapter 6 Writing a Business Plan 1) Athletic Propulsion Labs, the company profiled in the opening feature of Chapter 6, makes athletic shoes that give the wearer extra bounce. One of factors that […]
978-0134729534 Test Bank Chapter 06 Part 2
12 Copyright © 2019 Pearson Education, Inc. 44) There is an emerging school of thought that opposes the idea of writing a business plan and advocates experimentation and trial-and-error learning gleaned through customer feedback and formal planning. How does the […]
978-0134729534 Test Bank Chapter 07 Part 1
1 Entrepreneurship: Successfully Launching New Ventures, 6e (Barringer/Ireland) Chapter 7 Preparing the Proper Ethical and Legal Foundation 1) Billy Goat Ice Cream, the company profiled in the opening feature in Chapter 7, is a ________. A) limited liability corporation B) […]
978-0134729534 Test Bank Chapter 07 Part 2
12 37) Partnerships are organized as either ________ or ________ partnerships. A) specific; general B) narrow; broad C) inward; outward D) general; limited E) partial; full Answer: D Diff: 2 LO: 7.4: Identify and describe the different forms of organization […]
978-0134729534 Test Bank Chapter 08 Part 1
1 Entrepreneurship: Successfully Launching New Ventures, 6e (Barringer/Ireland) Chapter 8 Assessing a New Venture’s Financial Strength and Viability 1) For Essentium Materials, the company profiled in the opening feature in Chapter 8, an essential financial metric is to work to […]
978-0134729534 Test Bank Chapter 08 Part 2
12 39) A(n) ________ is a snapshot of a company’s assets, liabilities, and owners’ equity at a specific point in time. A) income statement B) statement of cash flows C) effectiveness statement D) balance sheet E) efficiency statement Answer: D […]
978-0134729534 Test Bank Chapter 09 Part 1
1 Entrepreneurship: Successfully Launching New Ventures, 6e (Barringer/Ireland) Chapter 9 Building a New-Venture Team 1) The fact that companies often falter because the people who start the firms can’t adjust quickly enough to their new roles and because the firm […]
978-0134729534 Test Bank Chapter 09 Part 2
12 33) James Williams is the Chief Operating Officer of a startup in the health food industry. He is also a member of his firm’s board of directors. In board of directors terminology, James is a(n) ________ director. A) inside […]
978-0134729534 Test Bank Chapter 10 Part 2
38) Venture capital firms are ________ of money managers who raise money in “funds” to invest in startups and growing firms. A) limited partnerships B) finance associations C) consortiums D) collations E) strategic partnerships Answer: A Diff: 2 LO: 10.5: […]
978-0134729534 Test Bank Chapter 11 Part 1
1 Entrepreneurship: Successfully Launching New Ventures, 6e (Barringer/Ireland) Chapter 11 Unique Marketing Issues 1) Real Time Cases, the company profiled in the opening feature in Chapter 11, sells live business cases for classroom use. According to the case, which of […]
978-0134729534 Test Bank Chapter 11 Part 2
39) A firm’s ________, in the context of its marketing mix, is the good or service it offers to its target market. A) conception B) idea C) formation D) product E) invention Answer: D Diff: 1 LO: 11.3: Identify and […]
978-0134729534 Test Bank Chapter 12 Part 1
Entrepreneurship: Successfully Launching New Ventures, 6e (Barringer/Ireland) Chapter 12 The Importance of Intellectual Property 1) The opening feature focuses on 3Derm Systems, a company that makes a device that takes 3D images of the human skin. The central form of […]
978-0134729534 Test Bank Chapter 12 Part 2
12 37) ________ marks are similar to ordinary trademarks, but they are used to identify the services or intangible activities of a business rather than a business’s physical product. A) Creative B) Intangible C) Examination D) Service E) Subtle Answer: […]
978-0134729534 Test Bank Chapter 13 Part 1
Entrepreneurship: Successfully Launching New Ventures, 6e (Barringer/Ireland) Chapter 13 Preparing for and Evaluating the Challenges of Growth 1) MATI Energy, the company profiled in the opening feature of Chapter 13, sells energy drinks based on guayusa, a Latin American plant. […]
978-0134729534 Test Bank Chapter 13 Part 2
13 Copyright © 2019 Pearson Education, Inc. 42) For a business to be successful in the early growth stage of the organizational life cycle, the two important things that must happen are ________. A) the founder or owner of the […]
978-0134729534 Test Bank Chapter 14 Part 1
1 Copyright © 2019 Pearson Education, Inc. Entrepreneurship: Successfully Launching New Ventures, 6e (Barringer/Ireland) Chapter 14 Strategies for Firm Growth 1) Filtereasy, the company profiled in the opening feature of Chapter 14, provides a monthly subscription service for ________. A) […]
978-0134729534 Test Bank Chapter 14 Part 2
12 39) ________ growth strategies rely on establishing relationships with third parties, such as mergers, acquisitions, strategic alliances, joint ventures, licensing, and franchising. A) Internal B) Domestic C) Outside D) External E) Peripheral Answer: D Diff: 1 LO: 14.4: Discuss […]
978-0134729534 Test Bank Chapter 15 Part 1
1 Entrepreneurship: Successfully Launching New Ventures, 6e (Barringer/Ireland) Chapter 15 Franchising 1) Uptown Cheapskate, the company profiled in the opening feature of Chapter 15, was started by Chelsea and Scott Sloan. According to the feature, Chelsea and Scott decided to […]
978-0134729534 Test Bank Chapter 15 Part 2
13 42) What are the primary advantages and disadvantages to establishing a franchise system (from the franchisor’s point of view)? Answer: There are two primary advantages to franchising. First, early in the life of an organization, capital is typically scarce, […]
978-0134729534 What Competitive Advantage Began To Falter As Zappos
Chapter 9: Building a New-Venture Team CHAPTER 9 BUILDING A NEW-VENTURE TEAM LEARNING OBJECTIVES 1. Explain the concept called liability of newness. 2. Describe a new-venture team and discuss the primary elements that form such a team. 3. Identify professional […]
Chapter 01 The Number One Characteristic Shared By Successful Entrepreneurs Is
Entrepreneurship: Successfully Launching New Ventures, 6e (Barringer/Ireland) Chapter 1 Introduction to Entrepreneurship 1) One of the businesses owned by Kirsten Blowers, the entrepreneur profiled in the opening feature of Chapter 1, is Riffraff. Riffraff sells ________. A) refurbished furniture B) […]
Chapter 10 The Three Primary Reasons Startups Need Funding Are ________
Entrepreneurship: Successfully Launching New Ventures, 6e (Barringer/Ireland) Chapter 10 Getting Financing or Funding 1) Kinvolved, the company profiled in the opening feature of Chapter 10, is an EdTech startup that involves an app to track student absences. The company was […]
Chapter 4 Barringer Ireland Business Model
Chapter 4: Developing an Effective Business Model CHAPTER 4 DEVELOPING AN EFFECTIVE BUSINESS MODEL LEARNING OBJECTIVES 1. Describe business models and discuss their importance. 2. Identify and describe the two general types of business models—standard and disruptive. 3. Explain the […]