73) Although it is a lower risk way to start, very few entrepreneurs start part-time. Most prefer to
cut all ties and “dive” into their business full-time, right from the start.
Topic: The Cultural Diversity of Entrepreneurship
AACSB: Communication
74) Despite their magnitude, family businesses face a major threat—a threat from within:
management succession.
Topic: The Cultural Diversity of Entrepreneurship
AACSB: Communication
75) Despite their popularity, family-owned businesses are actually a small portion of the
economy and contribute less than 25% of the GNP to the economy of the United States.
Topic: The Cultural Diversity of Entrepreneurship
AACSB: Multicultural and Diversity
76) Family-owned businesses have a significant advantage over other forms of small business, in
that they have a very high survival rate when transitioning between generations of leadership.
Topic: The Cultural Diversity of Entrepreneurship
AACSB: Multicultural and Diversity
77) When an entrepreneur develops a relationship with a manager in a large established company
in order to draw on the corporate manager’s experience, it is called “Copreneurship.”
Topic: Copreneurs
AACSB: Communication
78) Research shows that for “Copreneurship” to work, responsibilities must be divided by
gender.
Topic: The Cultural Diversity of Entrepreneurship
AACSB: Multicultural and Diversity
17
79) One important characteristic of successful “copreneurs” is their ability to separate their
business life from their personal life, so that one doesn’t consume the other.
Topic: Copreneurs
AACSB: Multicultural and Diversity
80) “Corporate dropouts” are middle managers who are laid off from large corporations and
decide to start their own businesses rather than return to a corporate job.
Topic: The Cultural Diversity of Entrepreneurship
AACSB: Reflective Thinking
81) The trend in corporate downsizing and the resulting trust gap have spawned both the
“corporate castoff” and the “corporate dropout.”
Topic: The Cultural Diversity of Entrepreneurship
AACSB: Communication
82) Small businesses create more jobs than either medium or large businesses.
Topic: The Contributions of Small Businesses
AACSB: Communication
83) Lack of experience is the number one cause of small business failures.
Topic: Putting Failure into Perspective
AACSB: Communication
84) The two common pitfalls of poor financial control are undercapitalization and lax customer
credit policies.
Topic: How to Avoid the Pitfalls
AACSB: Communication
85) Generation X, made up of those people born between 1965 and 1980, is the most
entrepreneurial generation in history.
Topic: The Cultural Diversity of Entrepreneurship
AACSB: Multicultural and Diversity
18
86) “Copreneurs” are entrepreneurial couples who work together as co-owners of their business.
Topic: The Cultural Diversity of Entrepreneurship
AACSB: Communication
87) Most successful entrepreneurs accept failure as part of what they do, and they use it to learn
for the “next time.”
Topic: Putting Failure into Perspective
AACSB: Communication
88) Entrepreneurs tend to create thorough, well thought out business plans prior to implementing
new businesses.
Topic: How to Avoid the Pitfalls
AACSB: Communication
89) In start-ups, it is often safest to be a “me-too” business, follow the leaders in the market until
sufficient cash flow develops to permit R & D into new and innovative products.
Topic: How to Avoid the Pitfalls
AACSB: Reflective Thinking
90) People who once saw launching a business risky now see it as an ideal way to create their
own job security.
Topic: Introduction
AACSB: Communication
91) Entrepreneurs are more wild risk takers than calculated risk takers.
Topic: What is an Entrepreneur?
AACSB: Communication
92) Idealists make up the largest group amongst different entrepreneurial personalities.
Topic: What is an Entrepreneur?
AACSB: Multicultural and Diversity
19
93) The flurry of corporate “pink slips” has slowed down a new population of entrepreneurs.
Topic: Introduction
AACSB: Communication
94) Two characteristics common to entrepreneurs are creativity and an eye for opportunity.
Topic: What is an Entrepreneur?
AACSB: Reflective Thinking
95) Because of advances in technology, entrepreneurs can outsource many of the operations of
their companies.
Topic: Why the Boom: The Fuel Feeding the Entrepreneurial Fire
AACSB: Analytic Skills
96) Briefly outline the key characteristics of a typical entrepreneur.
Topic: What is an Entrepreneur?
AACSB: Analytic Skills
97) Identify and explain the advantages and the disadvantages of small business ownership.
Topic: Benefits of Owning a Small Business
AACSB: Reflective Thinking
20
98) Explain at least five of the factors that are feeding the entrepreneurial boom in the United
States and abroad.
Topic: Why the Boom: The Fuel Feeding the Entrepreneurial Fire
AACSB: Reflective Thinking
99) Entrepreneurial activity is culturally diverse. Discuss the role of women, minorities, and
immigrant entrepreneurs in this activity, profiling their characteristics, their impact, and the
specific barriers they need to overcome in their small business start-ups.
Topic: The Cultural Diversity of Entrepreneurship
AACSB: Reflective Thinking
21
100) What role do corporate castoffs and corporate dropouts play in the growth of
entrepreneurship in the United States?
Topic: The Cultural Diversity of Entrepreneurship
AACSB: Communication
101) What are the primary causes of small business failure in the United States?
Topic: Putting Failure into Perspective
AACSB: Communication
102) What can an entrepreneur do to avoid the failure of his/her company? Discuss at least six
actions they can take.
Topic: How to Avoid the Pitfalls
22