A patent gives the holder a temporary
a. profit.
b. oligopoly.
c. monopoly.
d. specification.
In an innovative climate, failure is viewed as
a. the end of the world.
b. a learning experience.
c. O.K., inevitable, since the employee is probably not capable of further innovative
thought.
d. a basis for firing.
The idea of selling out should be viewed in
a. a destructive sense.
b. a negative sense.
c. a positive sense.
d. a last resort sense.
Which of the following is not characteristic of the ‘dark side’ of entrepreneurship?
a. an external optimism
b. a desire for success
c. knowing when to take a vacation
d. a sense of distrust
A business plan is
a. a written document that details the proposed venture.
b. an instance of entrepreneurial passion
c. the result of the new business.
d. a blueprint of the product.
If we accept the argument that social entrepreneurship is a continuum, at one extreme
would be social entrepreneurs driven exclusively by producing social benefits; at the
other, would be
a. social entrepreneurs motivated by the environment with social benefits being the
means
b. social entrepreneurs motivated by profitability with social benefits being the means
c. social entrepreneurs motivated by income from their beneficiaries
d. social entrepreneurs motivated by income with entrepreneuerial means
Many entrepreneurs lack _____ for their new venture.
a. innovation
b. intelligence
c. objectivity
d. both a and b
The two parts to a patent application are specification, and .
a. claims
b. percentage
c. value
d. perception
The recommended length of a business plan is
a. about 100 pages.
b. about 20 to 25 pages.
c. no more than 150 pages.
d. 10 pages, at the maximum.
Which of the following statements would not be an appropriate guideline for successful
business plan development?
a. Avoid exaggeration.
b. Orient the plan to the present.
c. Highlight critical risks.
d. Do not overdiversify.
In the simple linear regression analysis equation, Y = a + bx, x represents
a. expected sales.
b. the factor on which sales are dependent.
c. the slope of the line.
d. the vertical intercept.
Formation of long-range plans for effective management in light of a venture’s strengths
and weaknesses is referred to as
a. dimensional planning.
b. tactical planning.
c. strategic planning.
d. operational planning.
When a trademark becomes the name of a general group of products or services, the
trademark protection may be lost because of
a. abandonment.
b. cancellation proceedings.
c. cleaning-out procedure.
d. generic meaning.
The textbook identifies which of the following as a key aspect to be considered in an
effective succession?
a. the entrepreneur’s vision
b. the family’s wants and needs
c. the profitability of the venture
d. the marital status of the replacement
In the context of trademark invalidation, if a party seeks to prove that a trademark has
not been used within six years of registration, it is known as
a. abandonment.
b. cancellation proceedings.
c. cleaning-out procedure.
d. generic meaning.
Of the following pricing models, which is not indicative of pricing in the social media
age?
a. the subscription model
b. the freemium model
c. the affiliate model
d. the growth stage model
Which of the following terms is not synonymous with social lending?
a. crowdfunding
b. peer-to-peer (P2P) lending
c. banking 2.0
d. commercially viable lending
Which of the following will help to foster an innovative climate?
a. encourage action from employees
b. punish mistakes
c. eliminate coffee breaks to encourage employees to work harder
d. do away with dress codes
What is meant by pricing for the life cycle?
a. that pricing needs to be adjusted at each stage in a product’s life cycle
b. that pricing needs to be increased at each stage in a product’s life cycle
c. that pricing of new products needs to start out low and end high
d. that pricing of new products needs to start out high and end low
Promotion from within is
a. seldom effective.
b. usually a bad idea.
c. a morale-building philosophy.
d. a sure way to measure profitability.
A potential entrepreneur needs to realize that
a. there are no principles of innovation.
b. principles of innovation can be learned.
c. monetary gain is the principal motivator in all innovation.
d. profitability is the ultimate key to success.
The first of five steps for entering the international marketplace is
a. securing adequate financing
b. filing the proper documents
c. conducting research
d. preparing a feasibility study
The ‘dark side’ of entrepreneurship refers to the stress that entrepreneur’s experience.
Entrepreneurs are the major source of innovation and job creation in any economy.
Entrepreneurs do not need foresight.
A ‘niche’ is a homogeneous group with common characteristics (i.e., all the people who
have a need for a newly proposed product or service).
Venture capitalists are quick to invest.
Clever bootlegging of ideas refers to secretly working on new ideas on company time
as well as on personal time.
The first step in planning a strategy of corporate entrepreneurship is sharing the vision
of innovation that executives wish to achieve.
Define a patent and describe its limitations.
The evaluation process must be done by a research firm.