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1. Entrepreneurship involves accepting the risk of starting and running a business.
2. Entrepreneurship is another name for management.
3. Entrepreneurs are less important now than in the past to the U.S. economy.
4. According to the
Spotlight on Small Business
box, people between 16 to 34 years old are
not attracted to starting their own business.
5. While entrepreneurs frequently earn significant profits for themselves, their impact on
society is quite small.
6. Many businesses started by entrepreneurs have grown into major corporations employing
thousands of workers.
7. Entrepreneurs are motivated by the desire to earn a profit.
8. Entrepreneurs take calculated risks.
9. Most entrepreneurs prefer working for someone else.
10. Most entrepreneurs are more interested in personal achievement than in power.
11. If you have managerial skills and leadership ability, you also posses the personality to be
an entrepreneur.
12. Because of the stress of being in business for yourself, it's important that entrepreneurs
have people around them to help replenish their enthusiasm.
13. Successful entrepreneurs rely on others for direction and support.
14. Successful entrepreneurs accept the risk of failure.
15. Entrepreneurs avoid risk and place a high priority on security.
16. It is important for an entrepreneur to be highly energetic.
17. Most entrepreneurs get the ideas for their products and services from a flash of
inspiration.
18. Potential entrepreneurs would be well advised to surround themselves with people who
are smarter than they are.
19. An entrepreneurial team is a group of experienced managers who share the same skills
and abilities.
20. Entrepreneurial teams combine the creative marketing and production ideas of a group of
experienced people.
21. Successful entrepreneurs often make use of professional managers to introduce new
ideas.
22. Micropreneurs is a term used to describe entrepreneurs who focus on the continued
growth of their businesses.
23. The most important difference between entrepreneurs and micropreneurs is the focus
placed by micropreneurs on balancing the demands of work and family.
24. The primary concern of micropreneurs is to balance the risk of starting your own business
with the desire to build a powerful organization earning significant profits.
25. Many micropreneurs are home-based business owners.
26. Micropreneurs are motivated by a desire to have both a satisfying family life and
rewarding work.
27. Advancements in computer technology put home-based businesses at a disadvantage.
28. Many micropreneurs operate home-based businesses in the service industry.
29. Corporate downsizing reduces the opportunities for home-based businesses.
30. Successful micropreneurs require self-discipline to separate work from family
responsibilities.
31. Micropreneurs are exempt from the local ordinances that restrict home-based businesses
from operating in residential areas.
32. One advantage enjoyed by home-based businesses is the relative ease in attracting new
customers.
33. Small businesses have not significantly participated in web-based online sales.
34. The Internet provides a resource for entrepreneurs for information regarding the steps
needed to take their business online.
35. Web-based businesses avoid the risk of failure faced by traditional start-up businesses.
36. An intrapreneur is the creative person who starts and manages a nonprofit organization.
37. Creative people working as entrepreneurs within a large organization are called
intrapreneurs.
38. Entrepreneurial spirit is unique to a small business environment.
39. Large organizations encourage intrapreneurship as a strategy to improve their profitability
through new products.
40. By passing the Immigration Act of 1990, the U.S. government acted to encourage
entrepreneurs to immigrate to the United States.
41. The U.S. government offers investor visas to attract more entrepreneurs.
42. The position of our government is to restrict foreign entrepreneurs from operating within
the U.S.
43. Business incubators provide assistance to established companies attempting to generate
foreign sales.
44. A National Business Incubator Association study indicates that over 85 percent of
incubator graduates remain in business.
45. Enterprise zones offer lower tax rates and government assistance to attract private
business investment.
46. Independence, challenge, and opportunity are among the key reasons given by those who
assume the risks of entrepreneurship.
47. Successful entrepreneurs are exclusively motivated by the desire to become rich.
48. Although corporate managers often exhibit the skills required of successful
entrepreneurs, they seldom have the desire to give up the perks and fringe benefits of corporate
life and start their own business.
49. To be successful, entrepreneurs are dependent on the support of others for
encouragement.
50. Entrepreneurial teams increase the cooperation between marketing, production and other
functional areas of a business venture.
51. State governments create new start-up business organizations called enterprise zones
that are later sold to private investors.
52. The Spotlight on Small Business box is testimonial to the fact that entrepreneurs are
problem solvers.
53. Juanita wants to operate her own business. Although she admits it would be nice to earn
a healthy profit, her primary motivation is the excitement and challenge of starting and running a
business. Juanita's attitude is different from most small business owners, who usually focus
solely on the earnings potential of their ventures, as well as the opportunity to acquire power and
prestige.
54. Ramsey is a dreamer rather than a doer. This is an important attribute for an
entrepreneur since their job is to be creative and develop new ideas that are then implemented
by others.
55. Jacques has eliminated the risk of entrepreneurship by preparing a detailed business
plan.
56. Jason, Robin, and Ian currently work in the marketing department of a large corporation.
They have similar backgrounds and training and are thinking about leaving their company to start
their own business. Successful entrepreneurial teams are comprised of these types of people
because similarities in knowledge and skill ensure harmony and consistency in their new
business.
