Entrepreneurs themselves perceive the concept of risk in which of the following ways:
a. calculated risk taking
b. gambling risk
c. distorted risk taking
d. social risk
In the context of buying a business, a known commodity may command a higher price
for what reason?
a. historical projections have intrinsic value
b. avoiding start-up costs has value
c. property values are variable
d. the value of a founder’s stock decreases over time
Which of the following questions should an entrepreneur ask when a business plan is
turned down?
a. ‘That means you do not know how to evaluate a good plan?’
b. ‘Can you identify friends who would like this kind of deal?’
c. ‘If you were in my position, how would you proceed?’
d. none of the above
Functional design of the product and attractiveness in appearance are an aspect of
a. technical feasibility.
b. financial feasibility.
c. marketability.
d. organizational competence.
A decision to sell pharmaceuticals that have not been cleared with the Federal Drug
Administration is an example of a(n)
a. illegal and ethical decision.
b. legal and unethical decision.
c. illegal and unethical decision.
d. legal and ethical decision.
All of the following are characteristic of administrative cultures except:
a. rent of required resources.
b. need to reduce risk.
c. inertia.
d. coordination of activity.
Which one of these survey methods typically has the lowest respondent cooperation?
a. personal interviews, mall intercept
b. personal interviews, door to door
c. phone surveys
d. mail surveys
Which of the following characteristics is most important to an entrepreneur?
a. management skills
b. neatness
c. friendliness
d. having a nice office.
Retirement centers for older people reflect which source of innovation?
a. industry changes
b. demographic changes
c. perception changes
d. unexpected occurrences
Approximately how many commercial banks are there in this country?
a. about 40,000
b. about 7,000
c. about l7,000
d. about 20,000
What percentage of issued patents is considered commercially valuable?
a. a very small percentage
b. a very large percentage
c. about a third
d. about half
Which of the following are sources of innovation?
a. unexpected occurrences and incongruities
b. duplication and processes
c. synthesis and technology
d. industry changes and extension
Which of the following are key questions to ask when screening an idea?
a. Is it proprietary?
b. Can it easily make money?
c. What are its points of discussion?
d. All of the above are correct.
The combination of existing concepts and factors into a new formulation would define
which of the following terms?
a. synthesis
b. extension
c. invention
d. analysis
Bureaucrats in an organization must
a. standardize procedures
b. engage in horizontal management
c. learn to give way to intrapreneurs
d. avoid risky moves
The cover page should bear
a. the name of the company.
b. the phone number of each supplier.
c. the month and year.
d. a customer endorsement.
The key to marketing analysis is
a. secondary data
b. psychographic information
c. marketing research
d. marketing response data
__________ refers to conducting a thorough analysis of every facet of an existing
business.
a. Due diligence
b. Industry capitalization
c. Knowledge acquisition
d. Risk assessment
How dominant have new and small ventures been in the economy?
There is no way for the venture capitalist adequately to evaluate a new venture.
According to the Model of Entrepreneurship Motivation, the entrepreneur’s
expectations are not compared with the actual or perceived outcomes of the firm.
Today’s managers must foster excitement for innovation and remove obstacles for
employees to engage in corporate entrepreneurship.
A harvest plan defines how and when the owners and investors will realize an actual
cash return on their investment.
Weaknesses in small closely held businesses call for careful analysis of the business
being valued.
Synthesis is the combining of two existing concepts into a new formulation.
Corporations that promote personal growth will attract the best people.