44) A proactive person would be most likely to say this about his or her life.
A) I feel trapped.
B) If I don’t like something, I fix it.
C) If I don’t like something, I learn to live with it.
D) I like to leave well enough alone.
45) With respect to entrepreneurship, a proactive person is best described as someone who has
skill in identifying ________.
A) a problem
B) trouble
C) a good idea
D) a good opportunity
46) In general, employee empowerment ________ motivation in employees.
A) increases
B) slightly decreases
C) strongly decreases
D) has no effect on
47) The typical reason for why an entrepreneur considers implementing employee empowerment
in an organization is to make sure that the organization ________.
A) stays nimble and flexible
B) is profitable
C) stays small and informal
D) is efficient
48) Entrepreneurs who have trouble delegating authority should go through the process of
empowering employees in this manner.
A) gradually
B) all at once
C) using a rigid timetable
D) hastily
49) The best way for a hesitant entrepreneur to begin the process of employee empowerment is
to ________.
A) give employees complete decision-making power immediately
B) use participative decision making
C) let the employees decide how much decision-making power they will have
D) order employees to start making decisions
50) A leader of an entrepreneurial organization is like a jazz band leader because he or she
________.
A) controls every “note” that the performers “play”
B) wants a happy and harmonious workplace
C) has no influence over what the performers “play”
D) works to draw the “best” out of every performer
51) An entrepreneur’s ability to be visionary is important because visionary companies tend to
________.
A) have employees who are satisfied with their jobs
B) be larger than nonvisionary companies
C) be more successful than nonvisionary companies
D) be more organic than nonvisionary companies
52) This type of work team has the most autonomy.
A) cross-functional
B) problem solving
C) self-directed
D) virtual
53) This type of work team has authority to implement the changes it recommends.
A) empowered
B) cross-functional
C) problem solving
D) self-directed
54) This type of work team is composed of specialists.
A) empowered
B) problem solving
C) self-directed
D) cross-functional
55) An entrepreneur should ________ a plan for dealing with an economic downturn ________
any downturn occurs.
A) create; when
B) have; in place before
C) write out; after
D) think out; while
56) Harvesting an entrepreneurial venture occurs when the venture ________.
A) has a hit product
B) is successful
C) is sold
D) becomes profitable
57) To avoid problems in their personal lives, entrepreneurs need to become excellent time
managers and ________.
A) treat all needs equally
B) prioritize what needs to be done
C) wait to see what needs can be ignored
D) handle all needs long before they are needed
58) This is one of the best ways for entrepreneurs to deal with especially difficult work-related or
personal problems.
A) read self-help books
B) consult trusted employees
C) develop a network of trusted peers
D) consult relatives and family members
59) Entrepreneurship is the process of starting a new business to respond to an opportunity in the
market.
60) An entrepreneurial venture is the same as a small business.
61) An entrepreneurial venture is much more likely to change an industry than a small business.
62) Most entrepreneurial ventures are successful.
63) One of the first things an entrepreneur does is look for potential opportunities in the
marketplace.
64) Legal issues for an entrepreneurial organization typically are addressed after the organization
is up and running.
65) Once the entrepreneurial organization is up and running, the entrepreneur becomes a
manager.
66) An executive summary is the most complete kind of business plan.
67) A context analysis sizes up the target market and evaluates possible competitors to the
company.
68) An entrepreneurial venture’s advertising strategy would be included in the description of the
business section of a full business plan.
69) Since it is impossible to predict the future, projected income estimates are not part of a good
business plan.
70) The two primary factors that affect the legal structure of an entrepreneurial organization are
taxes and legal liability.
71) If the legal structure of an entrepreneurial venture does not turn out to be ideal, it can always
be changed easily once the organization is up and running.
72) When they first start out, most small entrepreneurial ventures have a very informal
organizational structure.
73) An entrepreneurial venture that sees its competitive advantage in cost efficiency would tend
to adopt an organic style organizational structure.
74) Since they are often overwhelmed by the pressure of decisions, one chore that most
entrepreneurs never hesitate to delegate is decision making.
75) When hiring, entrepreneurs typically are much less concerned with matching a candidate’s
values to the organization’s organizational culture than traditional HRM managers.
76) The classic “entrepreneurial personality” is a person who is high in self-confidence,
motivation, and energy.
77) People with proactive personalities tend to react to their environment more than trying to
change their environment.
78) You would expect an entrepreneur who has a grand vision for the future to be more of a risk
taker than an entrepreneur who is using his or her venture simply as a source of income.
79) The more proactive you are, the more likely you are to be an entrepreneur.
80) Identifying opportunity is not a trait of a person with a proactive personality.
81) Employee empowerment increases productivity, but decreases employee motivation.
82) A good way to ease into employee empowerment is to let employees share in decision
making.
83) Employee empowerment has little effect on an organization’s profits or productivity.
84) The leader of an entrepreneurial organization is like a marching band leader because he or
she controls every note that his or her “musicians” play.
85) Nonvisionary entrepreneurial leaders usually outperform visionary entrepreneurial leaders.
86) A command-and-control leadership style works best with an entrepreneurial organization
that is organized in teams.
87) One of the keys that distinguishes an entrepreneurial organization from a conventional
organization is the concerted emphasis on growth.
88) The first step in managing a downturn in an entrepreneurial business is to recognize that
things are not going well.
89) Selling an entrepreneurial venture is always a sign of failure.
90) Because entrepreneurship is so time-consuming and energy-consuming, many entrepreneurs
have trouble in their personal lives.
91) Saving money by avoiding the expense of professional advice, such as legal and accounting,
is often a mistake for entrepreneurs.
92) It is a good idea for an entrepreneur to develop a network of trusted friends and advisors to
help with problems and decisions.
93) In a short essay, explain what an entrepreneurial venture is and how it differs from a small
business.
94) In a short essay, explain why Viking Range qualifies as an entrepreneurial venture.
95) In a short essay, describe the steps an entrepreneur typically takes in deciding whether to
begin an entrepreneurial venture.
96) In a short essay, describe the steps an entrepreneur typically takes in planning and organizing
an entrepreneurial venture.
97) In a short essay, describe the contents of the executive summary part of a full business plan.
98) In a short essay, describe the contents of the business description part of a full business plan.
99) In a short essay, describe the factors that determine whether an entrepreneurial venture will
be mechanistic or organic in structure.
100) In a short essay, describe the classic entrepreneurial personality.
101) In a short essay, explain what a proactive personality is and what its connection is to
entrepreneurship.
102) In a short essay, explain how entrepreneurial you think you are.
103) In a short essay, describe a good way for an entrepreneur to motivate his or her employees.
104) In a short essay, describe how an entrepreneur who is reluctant to empower employees
might go about the process.
105) In a short essay, describe how an entrepreneur is like a jazz band leader.