OTHER:
A
95. All of these are entrepreneurial characteristics except:
a.
self-confidence.
b.
tolerance for ambiguity.
c.
external locus of control.
d.
high energy level.
e.
awareness of passing time.
ANSWER:
c
POINTS:
DIFFICULTY:
REFERENCES:
193
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United States – BUSPROG: Analytic
United States – LA – DISC: Creation of Value
KEYWORDS:
Bloom’s: Knowledge
OTHER:
96. Jamila is a successful artist and entrepreneur who makes all of her work out of recycled goods because she believes in
sustainability. She can be described as a social entrepreneur that is committed to:
a.
international human rights.
b.
environmental protection.
c.
children’s rights.
d.
industrial protectionism.
e.
consumerism.
ANSWER:
POINTS:
DIFFICULTY:
REFERENCES:
204
MGMT.DAFT.12.06-05 – 06–05
United States – BUSPROG: Analytic
United States – LA – DISC: Creation of Value
KEYWORDS:
Bloom’s: Knowledge
OTHER:
A
began production and marketing.
97. With the entrepreneurial personality, Holly can be expected to have all of the following traits except:
a.
internal locus of control.
b.
tolerance for ambiguity.
c.
high need to achieve.
d.
patience.
e.
all of these.
178
MGMT.DAFT.12.06-04 – 06–04
United States – LA – DISC: Creation of Value
Bloom’s: Knowledge
A
98. After fully developing their new business idea, Holly and Trent recognize the need to develop a business plan. Typical
business plans will include all of the following, except:
a.
mission or vision of the company.
b.
information about the suppliers.
c.
policy for extending credit to customers.
d.
analysis of critical risks that threaten success.
e.
all of these should be included.
e
183-184
MGMT.DAFT.12.06-06 – 06–06
United States – BUSPROG: Analytic
United States – LA – DISC: Creation of Value
A
99. If the business is legally Holly’s, then the business form would be:
a.
proprietorship.
b.
partnership.
c.
corporation.
d.
chapter S42.5.
e.
none of these.
a
184
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United States – LA – DISC: Creation of Value
Bloom’s: Knowledge
A
100. Entrepreneurs in the _____ category like the idea of working on something that is new, creative, or personally
meaningful.
idealist
101. The process of initiating a business venture, organizing it, and assuming its risks is known as _____.
102. A(n) _____ recognizes a viable idea for a business product or service and carries it out.
103. Entrepreneurship and small business in the United States is an engine for _____ and _____.
104. In the next decade, _____ and _____ businesses could end up being the emerging growth companies.
105. A human quality linked to entrepreneurship in which people are motivated to excel and pick situations in which
success is likely is called the _____.
106. _____ is the psychological characteristic that allows a person to be untroubled by disorder and uncertainty.
107. _____ entrepreneurs are committed to both good business and changing the world for the better.
108. An unincorporated business owned by an individual for profit is known as a(n) _____.
109. A(n) _____ is an unincorporated business owned by two or more people.
110. A(n) _____ is an artificial entity created by the state and existing apart from its owners.
111. Borrowing money that has to be repaid at a later date in order to start a business is _____.
112. _____ financing consists of funds that are invested in exchange for ownership in the company.
113. A(n) _____ is a group of companies or individuals that invests money in new or expanding businesses for ownership
and potential profits.
114. _____ firms are groups of companies or individuals that invest money in exchange for a stake in the company.
115. By _____, an entrepreneur has the advantage to develop and design the business in his/her own way.
116. _____ is an arrangement by which the owner of a product or service allows others to purchase the right to distribute
the product or service with help from the owner.
117. The _____ provides shared office space, management support services, and management advice to entrepreneurs.
118. The majority of the incubators are operated by _____.
119. Name three of the four ways entrepreneurs can become business owners.
120. Name and describe the five different categories of small business owners.
121. What is tolerance for ambiguity? Why is it an important trait?
122. Name five of the ten characteristics of a successful business plan.
123. Define a corporation and briefly discuss the primary advantages and disadvantages of forming a corporation.
124. What is the fundamental difference between the suppliers of debt and equity financing?
125. What is a business incubator? How can it help a business?
126.
An entrepreneur recognizes a good idea for a business and carries it out. Write a short essay that defines entrepreneurship
and compares and contrasts the characteristics and motivations of the five categories of entrepreneurs: idealists, sustainers,
optimizers, jugglers, and hard workers. Be sure to explain what makes each type successful.
127.
The recent global economic downturn has affected all business operations, but many markets are now
rebounding. To what can the upturn be credited? In a short essay, give your interpretation of why small business
and entrepreneurship are having a major impact on the global and U.S. economies.
128. In some parts of the world, female entrepreneurship is catching up with that of men; and minority-owned
businesses in the Unite States are also on the rise. Write a short essay that supports your conclusion regarding
how these small business owners are impacting the economy.
129. Is there a formula for a successful entrepreneur? While their backgrounds differ, entrepreneurs often have common
characteristics. In a short essay, describe characteristics typically displayed by entrepreneurs. Next, contrast these
characteristics with those that you have learned will help to make a manager in an established organization successful.
130. The first step in becoming an entrepreneur is to have a viable marketable idea. But, what’s next? Think of some type
of business you might like to start, and write a short essay that outlines the steps you would take when planning to become
a business owner. Prepare a sample business plan along with your essay.