The results of a profile analysis enable the entrepreneur to judge
a. himself or herself.
b. the competition.
c. the potential of the business.
d. venture capital opportunities.
Most entrepreneurs are objective when they evaluate their new idea.
Innovative factors identified by James Brian Quinn that exist in large organizations
experienced in successful innovation include all of the following except:
a. interactive learning.
b. uniform compensation.
c. multiple approaches.
d. skunk works.
Which of the following is a true statement about the characteristics that successors
should possess?
a. There are only a few characteristics needed.
b. Situation does not matter.
c. Knowledge of the firm is not a desirable characteristic or quality.
d. Some characteristics will be more important than others, depending on the situation.
Entrepreneurs are best characterized as:
a. aggressive catalysts for change
b. good managers
c. hard to get along with
d. not fitting in to an ordinary workplace
Marketing information that has already been compiled is known as secondary data.
Patents that are not design patents have _____ years of protection.
a. l5
b. 20
c. 22
d. 25
The appendix and/or bibliography segment is not mandatory, but it allows for
a. additional incorporation of the venture.
b. additional capital funding.
c. additional documentation not appropriate in the main parts of the plan.
d. additional completion of design and development.
Which of the following statements about traditional marketing is not true?
a. In traditional marketing, marketing is seen as an objective, dispassionate science.
b. In terms of risk perspective, traditional marketers seek risk minimization.
c. In traditional marketing, customers are viewed as sources of intelligence and
feedback.
d. In traditional marketing, the role of a marketer is that of internal and external change
agent.
Specific forms of partnership include which of the following?
a. limited partnerships
b. limited partnerships and limited liability partnerships
c. limited partnerships and S partnerships
d. S partnerships and limited liability companies
One of the most recent legal challenges to management succession has charged
a. employment discrimination.
b. retirement income discrimination.
c. racial discrimination.
d. minimum wage discrimination.
What is the one-person-band syndrome?
a. an invention
b. following a competitor’s lead
c. failure to delegate
d. effective time management
A trademark is a distinctive _____ that is identified with a company’s product.
a. name
b. billboard
c. TV ad
d. storefront sign
There are two parts to a patent application, claims and .
a. percentage
b. specification
c. value
d. integration
What characteristic(s) that propel entrepreneurs into success can be exhibited to the
‘extreme’?
a. Overbearing need for control
b. Optimism
c. High energy
d. Desire for success
e. Perseverance
Which of the following is not a form of displacement in the displacement school of
thought?
a. political
b. racial
c. economical
d. cultural
A ____ is a system of distribution that enables a supplier to arrange for a dealer to
handle a specific product or service under certain mutually agreed upon conditions.
a. franchisee
b. franchise
c. franchisor
d. franchiser
Entrepreneurs are accurately described in which way?
a. as gamblers
b. as risk takers
c. as calculated risk takers
d. as risk averse
One reason that corporate entrepreneurship has become popular is because it allows
corporations to tap the innovative talents of the personnel.
In principle, incumbents and entrepreneurs face the same challenges in finding new
strategic positions. In practice, incumbents often have an edge.
What is the basic structure of a business plan?
Once issued, the trademark is listed with the Patent and Trademark Office.
The actual need for systematic planning will vary with the nature, size, and structure of
the business.
Even after marketing research is done, many entrepreneurs are unsure of how to price
their products or services.
Venture capitalists are a valuable source of equity funding for new ventures.