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Essential to creating an opportunity in a complex world, entrepreneurs must embrace:
a. Networking
b. Research
c. Uncertainty
d. Decision-making
e. strategic alliances / acquisition
When choosing a banker, the entrepreneur planning a new venture should seek out an
officer with the rank of assistant vice president or higher.
a. True
b. False
Home-based businesses do not qualify as "entrepreneurship."
a. True
b. False
Which of the following is not a formal process?
a. Planning systems
b. Control mechanisms
c. Compensation
d. Team building
e. Reward policies
The moral code by which we live and conduct business comes from cultural, social,
political, and ethnic norms with which we were raised as children and is called ____.
a. ethics
b. social responsibility
c. social obligations
d. corporate policy
e. vision
When you validate a customer, you are:
a. Conducting final research
b. Determining whether you have the right customer and the right solution
c. Determining what is the highest price at which the customer will purchase
d. Reviewing regulatory requirements
e. None of these
It has been said that opportunity is the intersection of an idea and a venture capitalist.
a. True
b. False
Risk is a fact of life, but a company's exposure to risk decreases as the venture grows.
a. True
b. False
Possible causes of product failure are:
a. Technical problems
b. The product definition may provide features that the customer does not want
c. The problem has not been correctly defined
d. The product definition may be incorrect
e. All of these are correct
In an entrepreneurial endeavor, risk is correlated with reward; that is, the greater the
risk taken, the greater the reward expected.
a. True
b. False
Companies that rely heavily on Internet-based systems will want to get advice about
securing a cyber insurance policy.
a. True
b. False
All of the following are alternatives to conventional facilities except ____.
a. incubators
b. shared space
c. leasing a building
d. temporary tenant agreements
e. mobile locations
____ make(s) all partners responsible for the obligations that each incurs in the course
of doing business.
a. Limited partnerships
b. General partnership
c. Ostensible authority
d. Sole proprietorship
e. Limited liability
The question of how to deliver the benefit to the customer is answered by ____.
a. the value chain
b. the product
c. the service
d. the distribution channel
e. testing the concept
Determining what resources are needed, when they are needed, and how to acquire
them is a critical piece of the ____.
a. business plan
b. feasibility analysis
c. founding team experience
d. marketing plan
e. profit and loss statements
Groups of hackers that act in the national interests of the country that sponsors them to
provide nearly constant attacks on the national security infrastructure of countries are
known as ____.
a. cyber militia
b. cyber risk
c. hacker militia
d. security risks
e. None of these choices
The time prior to a firm's birth is called the fuzzy front end.
a. True
b. False
The board is headed by the chairperson, who, in a new, private venture, is typically the
____.
a. lead entrepreneur
b. founder
c. CEO
d. CFO
e. advisor
Define mission statement.
Porter's Five Forces work has been challenged on several levels. What re the bases of
these challenges?
What are the four principal concerns of investors?
Define core values.
Briefly discuss the Civil Rights Act and Title VII of the Civil Rights Act.
Define virtual enterprise.
Briefly discuss the impact that technology has had on the product life cycle.
Briefly discuss the Four-Step Market Research Process.
What are the advantages of a C-corporation?
