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Exam 6: Entrepreneurship

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Question 41

True/False

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The successful intrapreneurial organization avoids relying on its entrepreneurial spirit to produce at least one winner from among several projects.

A) True
B) False

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Question 42

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When creating a new business one should start with:

A) a viable market.
B) a product.
C) a great idea.
D) good timing.
E) meeting social responsibilities.

F) B) and C)
G) C) and D)

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Question 43

Multiple Choice

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A(n) _____ describes all the elements involved in starting a new venture.

In order for family-managed businesses to survive and prosper, management guru Peter Drucker advised them to:

"Loading the gun", or lining up ammunition in support of one's idea, is a phrase used by managers at General Electric that parallels which stage of building support for an idea?

Most small business ventures are located in (the) _____ quadrant(s) of the entrepreneurial strategy matrix.

People's judgment of a company's acceptance, appropriateness, and desirability, generally stemming from company goals and methods that are consistent with societal values is known as:

Scenario B. Use the information in the following paragraph to answer the following questions. After reviewing the history of many successful entrepreneurial ventures, a few interesting cases stand out. They are: • Minute Clinic's health care kiosks in supermarkets. • Visionics biometric software that can assist in identifying runaways, shoplifters, or terrorists. • Nanostring's molecular bar coding enterprise. • The tourism industry at Mount Helens, a volcano in the United States that recently erupted. -The tourism industry at Mount Helens is an example of a business that was created as a result of:

Laura independently owns and operates Kites Inc., a company with 45 employees. She tends not to manage particularly aggressively and expects moderate sales, profits, and growth. Laura's company is considered an entrepreneurial venture.

A(n) _____ is a new business having growth and high profitability as primary objectives.

In the context of the opportunity for starting a business, what are some of the possibilities that entrepreneurs can exploit?

What are the five business models that have proven successful for e-commerce?

CEOs play a crucial role in promoting entrepreneurship within large corporations.

Scenario D. Use the information provided to answer the questions that follow. Ashton has begun the planning process for his entrepreneurial venture. He has completed an assessment of his vision to operate a full-service shuttle service for the elderly, for which he feels there is a strong market. He has a good understanding of the availability of his own resources and his personal traits to manage the business. Now, he is prepared to start compiling functional plans for marketing, finance, and human resources so that he can obtain the financing he will need to start. He is also deciding how to develop the right reputation and create the proper networks to find employees and customers as well as get advice from fellow businesspeople. -When Ashton worries about his network and the reputation of his business, he is concerned with:

Entrepreneurs are not tolerant of stress and find it difficult to resolve problems.

A small business differs from an entrepreneurial venture.

An entrepreneur is not a manager but engages in additional activities that all managers do.

In the context of successful business models for e-commerce, the _____ model involves charging monthly or annual fees for Internet website visits or access to website content.

_____ are new venture creators working inside big companies; they are corporate entrepreneurs, using their company's resources to build a profitable line of business based on a fresh new idea.

_____ offer a way for a business to raise capital through federally registered and underwritten sales of shares in the company.