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A marketing information system compiles and organizes data relating to _______ from
the customer base.
a. price
b. revenue
c. demand
d. supply
Which is not one of the chief characteristics of an entrepreneur?
a. personal initiative
b. ability to consolidate resources
c. risk taking
d. desire for control of people
The statement, 'with every new venture launched, new and unintended opportunities
often arise,' would be associated with:
a. the entrepreneurial principle
b. the opportunity principle
c. the corridor principle
d. the Dilbert principle
A reason for an entrepreneur to sell a venture is
a. boredom.
b. lack of capital.
c. age and health.
d. all of the above.
When developing a survey, you should consider
a. including questions only pertaining to the study.
b. ask leading and biased questions.
c. giving concise but incomplete instructions.
d. the personality of the respondents.
Which of the following can help speed up the idea process?
a. working harder
b. seeing new movies
c. taking breaks while working
d. intuition
Which of the following statements is not part of the 'five-minute reading' by venture
capitalists?
a. Determine the characteristics of the venture and industry.
b. Determine the strengths and weaknesses of the entrepreneur.
c. Determine the financial structure of the plan.
d. Read the latest balance sheet.
Which of the following statements is not true of venture capitalists?
a. They want the entrepreneur and the management to run the company.
b. They expect high return on investments.
c. They are interested in trying to manage firms themselves.
d. They take a long time to raise venture capital.
The type of venture that is expected to attract venture capital would most likely be a
a. corporate venture.
b. high-growth venture.
c. lifestyle venture.
d. smaller venture.
Many companies continue to use the payback method. It is
a. inexpensive to use.
b. more favorable in its short-term effects on earnings.
c. an immediate cash payment.
d. a longer loan program.
Examples of social enterprise obligations to the environment include all of the
following except
a. pollution control
b. restoration of the environment
c. recycling efforts
d. support for minority-own businesses
The micro view is divided into which three theories?
a. entrepreneurial, financial, displacement
b. venture opportunity theory, entrepreneurial, strategic
c. strategic, environmental, and opportunity
d. environmental, financial, and displacement
Which of the following statements is true?
a. Innovation is the specific function of entrepreneurship.
b. Innovation is the process by which entrepreneurs consume marketable ideas.
c. Innovation does not involve change.
d. Innovation is the government's responsibility.
Ecopreneurs are concerned
a. only with ecologically sustainable development
b. only with economically sustainable development
c. both ecologically and economically sustainable development
d. neither ecologically nor economically sustainable development
In the evolutionary process of economic growth, _________ plays the crucial and
indispensable role of providing the 'social glue' that binds together both high-tech and
'Main Street' activities.
a. entrepreneurship
b. supply and demand
c. the Internet
d. management
In terms of opportunity trends, what is cocooning?
a. the desire to have process needs met
b. the desire to avoid natural disasters
c. the desire to shelter oneself from harsh realities
d. the desire to replace actual experiences with virtual experiences
Which of the following would be a benefit gained by financial sources from a business
plan?
a. The venture's ability to service debt or provide an adequate return on equity
b. Favorable lease terms
c. Opinions about proposed business regulations
d. Probability of future employment with the business
Which of the following is a pitfall to avoid in planning, according to the textbook
author?
a. lack of priorities
b. lack of profit orientation
c. lack of future vision
d. lack of illustrations
Bottom-line measures of economic performance include all of the following except:
a. global competition
b. personal income
c. cost of underemployment
d. job growth
There is no single definition of an entrepreneur.
Innovation should follow a milestone schedule.
Should entrepreneurs accept proposals from the first venture capitalist that offers?
Proper understanding of the market will help an entrepreneur avoid failure with a new
venture.
The role of the customer in social media marketing is as an external source of
intelligence and feedback.
Give some in-depth examples of the dilemmas entrepreneurs face with ethics and laws.
The growth pattern of sales is critical for an entrepreneur to make correct forecasts.
Works created and copyrighted after January 1, 1978, are protected for the life of the
author plus 70 years.
