TEST BANK
Entrepreneurship: The Practice and Mindset | 3rd Edition
by Heidi M. Neck, Christopher P. Neck
SC
O
R
EG
U
ID
ES
,Table of Content
Chapter 1: Practicing Entrepreneurship
Chapter 2: Activating an Entrepreneurial Mindset
Chapter 3: Facilitating Social Entrepreneurship
Chapter 4: Creating and Recognizing New Opportunities
Chapter 5: Using Design Thinking
SC
Chapter 6: Building Business Models
Chapter 7: Developing Your Customers
Chapter 8: Testing and Experimenting with New Ideas
O
Chapter 9: Developing Networks and Building Teams
Chapter 10: Creating Revenue Models
R
Chapter 11: Anticipating Failure
Chapter 12: Bootstrapping and Crowdfunding for Resources
EG
Chapter 13: Financing for Startups
Chapter 14: Navigating Legal and IP Issues
Chapter 15: Engaging Customers Through Marketing
U
Chapter 16: Pitching to Launch
ID
ES
, Test Bank For
Entrepreneurship The Practice and Mindset 3th Edition by Heidi M. Neck,
Christopher P. Neck, Emma L. Murray
Chapter 1-16
CHAPTER 1: PRACTICING ENTREPRENEURSHIP
SC
Multiple Choice
1. The authors define entrepreneurship as ______.
a. a way of thinking, acting, and being that combines the ability to find or create
new opportunities with the courage to act on them
b. starting a small business by finding investors and launching a product
O
c. developing a new market by creating a product that does not currently exist
d. a mindset that compels people to start multiple ventures throughout a lifetime
Ans: A
Learning Objective: 1.1: Explain the importance of action and practice in
R
entrepreneurship.
Cognitive Domain: Knowledge
Answer Location: Entrepreneurship Requires Action and Practice
EG
Difficulty Level: Medium
AACSB Standard: Application of knowledge
2. ______ have touched every corner of our lives, affecting every aspect of the
way we live.
a. Lifestyles
b. Corporations
U
c. Entrepreneurs
d. Managers
Ans: C
ID
Learning Objective: 1.1: Explain the importance of action and practice in
entrepreneurship.
Cognitive Domain: Knowledge
Answer Location: Entrepreneurship Requires Action and Practice
Difficulty Level: Medium
ES
AACSB Standard: Application of knowledge
3. What is the discipline that seeks to understand how opportunities are
discovered, created, and exploited, by whom, and with what consequences?
a. imagineering
b. storyboarding
c. social engineering
d. entrepreneurship
Ans. D
, Learning Objective: 1.1: Explain the importance of action and practice in
entrepreneurship.
Cognitive Domain: Knowledge
Answer Location: Entrepreneurship Requires Action and Practice
Difficulty Level: Medium
AACSB Standard: Application of knowledge
4. Which of the following is a truth about entrepreneurship?
SC
a. Entrepreneurship is not reserved for startups.
b. Entrepreneurship cannot be taught.
c. Entrepreneurs compete more than they collaborate.
d. Entrepreneurs have a special set of personality traits.
Ans: A
Learning Objective: 1.2: List the seven lesser-known truths about
entrepreneurship.
O
Cognitive Domain: Knowledge
Answer Location: Entrepreneurship May Be Different From What You Think
Difficulty Level: Easy
R
AACSB Standard: Analytical thinking
5. The media often cover the meteoric rise of entrepreneurs such as Bill Gates
(Microsoft) and Travis Kalanick (Uber). According to the text, these stories
EG
______.
a. are inspirational, but do little to represent the reality of entrepreneurship
b. are highly relatable
c. have not captured the public imagination
d. are accurate depictions of the reality of entrepreneurship
Ans: A
Learning Objective: 1.2: List the seven lesser-known truths about
U
entrepreneurship.
Cognitive Domain: Comprehension
Answer Location: Media Images of Entrepreneurs
ID
Difficulty Level: Medium
AACSB Standard: Contexts of organizations in a global society
6. A temporary organization in search of a scalable business model is known as
a(n) ______.
ES
a. startup
b. corporation
c. LLC
d. entrepreneur
Ans: A
Learning Objective: 1.2: List the seven lesser-known truths about
entrepreneurship.
Cognitive Domain: Knowledge
Answer Location: Truth #1: Entrepreneurship Is Not Reserved for Startups
Entrepreneurship: The Practice and Mindset | 3rd Edition
by Heidi M. Neck, Christopher P. Neck
SC
O
R
EG
U
ID
ES
,Table of Content
Chapter 1: Practicing Entrepreneurship
Chapter 2: Activating an Entrepreneurial Mindset
Chapter 3: Facilitating Social Entrepreneurship
Chapter 4: Creating and Recognizing New Opportunities
Chapter 5: Using Design Thinking
SC
Chapter 6: Building Business Models
Chapter 7: Developing Your Customers
Chapter 8: Testing and Experimenting with New Ideas
O
Chapter 9: Developing Networks and Building Teams
Chapter 10: Creating Revenue Models
R
Chapter 11: Anticipating Failure
Chapter 12: Bootstrapping and Crowdfunding for Resources
EG
Chapter 13: Financing for Startups
Chapter 14: Navigating Legal and IP Issues
Chapter 15: Engaging Customers Through Marketing
U
Chapter 16: Pitching to Launch
ID
ES
, Test Bank For
Entrepreneurship The Practice and Mindset 3th Edition by Heidi M. Neck,
Christopher P. Neck, Emma L. Murray
Chapter 1-16
CHAPTER 1: PRACTICING ENTREPRENEURSHIP
SC
Multiple Choice
1. The authors define entrepreneurship as ______.
a. a way of thinking, acting, and being that combines the ability to find or create
new opportunities with the courage to act on them
b. starting a small business by finding investors and launching a product
O
c. developing a new market by creating a product that does not currently exist
d. a mindset that compels people to start multiple ventures throughout a lifetime
Ans: A
Learning Objective: 1.1: Explain the importance of action and practice in
R
entrepreneurship.
Cognitive Domain: Knowledge
Answer Location: Entrepreneurship Requires Action and Practice
EG
Difficulty Level: Medium
AACSB Standard: Application of knowledge
2. ______ have touched every corner of our lives, affecting every aspect of the
way we live.
a. Lifestyles
b. Corporations
U
c. Entrepreneurs
d. Managers
Ans: C
ID
Learning Objective: 1.1: Explain the importance of action and practice in
entrepreneurship.
Cognitive Domain: Knowledge
Answer Location: Entrepreneurship Requires Action and Practice
Difficulty Level: Medium
ES
AACSB Standard: Application of knowledge
3. What is the discipline that seeks to understand how opportunities are
discovered, created, and exploited, by whom, and with what consequences?
a. imagineering
b. storyboarding
c. social engineering
d. entrepreneurship
Ans. D
, Learning Objective: 1.1: Explain the importance of action and practice in
entrepreneurship.
Cognitive Domain: Knowledge
Answer Location: Entrepreneurship Requires Action and Practice
Difficulty Level: Medium
AACSB Standard: Application of knowledge
4. Which of the following is a truth about entrepreneurship?
SC
a. Entrepreneurship is not reserved for startups.
b. Entrepreneurship cannot be taught.
c. Entrepreneurs compete more than they collaborate.
d. Entrepreneurs have a special set of personality traits.
Ans: A
Learning Objective: 1.2: List the seven lesser-known truths about
entrepreneurship.
O
Cognitive Domain: Knowledge
Answer Location: Entrepreneurship May Be Different From What You Think
Difficulty Level: Easy
R
AACSB Standard: Analytical thinking
5. The media often cover the meteoric rise of entrepreneurs such as Bill Gates
(Microsoft) and Travis Kalanick (Uber). According to the text, these stories
EG
______.
a. are inspirational, but do little to represent the reality of entrepreneurship
b. are highly relatable
c. have not captured the public imagination
d. are accurate depictions of the reality of entrepreneurship
Ans: A
Learning Objective: 1.2: List the seven lesser-known truths about
U
entrepreneurship.
Cognitive Domain: Comprehension
Answer Location: Media Images of Entrepreneurs
ID
Difficulty Level: Medium
AACSB Standard: Contexts of organizations in a global society
6. A temporary organization in search of a scalable business model is known as
a(n) ______.
ES
a. startup
b. corporation
c. LLC
d. entrepreneur
Ans: A
Learning Objective: 1.2: List the seven lesser-known truths about
entrepreneurship.
Cognitive Domain: Knowledge
Answer Location: Truth #1: Entrepreneurship Is Not Reserved for Startups
