Chapter 1: What is an Entrepreneur
Please answer the following questions.
1. The most common driving force behind the desire to start a new venture is:
a. The desire to become a millionaire
b. Being born into an entrepreneurial family.
c. The desire to be one’s own boss.
d. The desire to be famous.
2. Most business ventures that fail are:
a. More than five years old.
b. Less then five years old.
c. Less than one year old.
d. More than seven years old.
3. An entrepreneur is driven mainly by:
a. The control of resources.
b. Changing technology.
c. The perception of opportunity.
d. Planning systems.
4. Entrepreneurial small firms ordinarily:
a. Do not provide an environment for self-actualization.
b. Play a major role in job creation and innovation.
c. Are created by male entrepreneurs, with a rate increasing at three times
that of women.
d. None of the above.
5. Entrepreneurs tend to have a higher probability of success when:
a. The venture created is in their field of work experience.
b. The entire family is involved.
c. They are motivated solely from a profit standpoint.
d. The perceived level of risk is high.
6. With regard to risk, entrepreneurs are generally:
a. Risk averse.
b. High risk-takers.
c. Not likely to take risks.
d. Moderate risk-takers.
7. In order to gain the financing needed to create a venture, entrepreneurs must
often give up:
a. Some control of the new venture.
b. A share of the ownership.
c. Patent rights.
, d. Both a and b.
8. Entrepreneurs lack the following personal attributes:
a. Ability to work in teams.
b. Inconsistency
c. Charm
d. Leadership skills.
9. Entrepreneurs often show the following traits:
a. Impatient.
b. Short-tempered.
c. Disruptive to the organization around them.
d. Tenacious.
10. Which of the following statements are true:
a. An entrepreneur can work well with an equal partner.
b. An entrepreneur is often pessimistic.
c. An entrepreneur is a “loner.”
d. An entrepreneur does not suffer fools gladly.
11. A life style company:
a. Is grown so that the entrepreneur can live luxuriously.
b. Usually remains rather small and owned by the original entrepreneurs.
c. Is unusual for start-ups.
d. Stays like this because the owners cannot find someone to invest.
12. A company that grows rapidly requires:
a. A lot of money from investors.
b. An entrepreneur’s willingness to give up a controlling interest.
c. Help from a major company.
d. Products or services targeted at a billion dollar market.
13. Which of the following statements are generally true:
a. Entrepreneurs often work too hard for their own or their family’s good.
b. Entrepreneurs are unwilling to change from their original idea.
c. Entrepreneurs cannot deal with ambiguity.
d. Entrepreneurs cannot take advice from experts.
, Chapter 1: What is an Entrepreneur?
Answer Key
Question Answers
1 C
2 B
3 C
4 B
5 A
6 D
7 D
8 B
9 D
10 A
11 B
12 B
13 C
, Chapter 2: The Entrepreneurial Process
Please answer the following questions.
1. Which of the following is the least fruitful source for identifying business
opportunities?
a. Consumers.
b. Other Entrepreneurs.
c. Technical People.
d. Family Members.
2. A spider-web provides an analogy to a small company because:
a. It is continually under attack from outside
b. It has both radial and circumferential axes
c. It has multiple points for support on the outside
d. It is fragile
3. A near-neighbor network is confined to:
a. People living in the same neighborhood
b. People who have a fear of flying
c. People who can meet frequently
d. People who like each other
4. A scale free network has:
a. Members who only communicate on the Internet and never meet
b. Members who prefer to fly rather than drive
c. A few members who have many more contacts than the most
d. Most members know all the others
5. Which of the following groups is most like a scale free network?
a. Members of a bowling club
b. Subscribers to MySpace
c. Subscribers to BusinessWeek
d. Unlisted telephone subscribers
6. Which of the following professionals are less likely to be highly connected in
a Network?
a. Window-cleaners
b. Attorneys
c. Accountants
d. Management Consultants
7. To relieve stress you should:
a. Work over the weekend if necessary
b. Plan non-work personal time
c. Work more intensely
Please answer the following questions.
1. The most common driving force behind the desire to start a new venture is:
a. The desire to become a millionaire
b. Being born into an entrepreneurial family.
c. The desire to be one’s own boss.
d. The desire to be famous.
2. Most business ventures that fail are:
a. More than five years old.
b. Less then five years old.
c. Less than one year old.
d. More than seven years old.
3. An entrepreneur is driven mainly by:
a. The control of resources.
b. Changing technology.
c. The perception of opportunity.
d. Planning systems.
4. Entrepreneurial small firms ordinarily:
a. Do not provide an environment for self-actualization.
b. Play a major role in job creation and innovation.
c. Are created by male entrepreneurs, with a rate increasing at three times
that of women.
d. None of the above.
5. Entrepreneurs tend to have a higher probability of success when:
a. The venture created is in their field of work experience.
b. The entire family is involved.
c. They are motivated solely from a profit standpoint.
d. The perceived level of risk is high.
6. With regard to risk, entrepreneurs are generally:
a. Risk averse.
b. High risk-takers.
c. Not likely to take risks.
d. Moderate risk-takers.
7. In order to gain the financing needed to create a venture, entrepreneurs must
often give up:
a. Some control of the new venture.
b. A share of the ownership.
c. Patent rights.
, d. Both a and b.
8. Entrepreneurs lack the following personal attributes:
a. Ability to work in teams.
b. Inconsistency
c. Charm
d. Leadership skills.
9. Entrepreneurs often show the following traits:
a. Impatient.
b. Short-tempered.
c. Disruptive to the organization around them.
d. Tenacious.
10. Which of the following statements are true:
a. An entrepreneur can work well with an equal partner.
b. An entrepreneur is often pessimistic.
c. An entrepreneur is a “loner.”
d. An entrepreneur does not suffer fools gladly.
11. A life style company:
a. Is grown so that the entrepreneur can live luxuriously.
b. Usually remains rather small and owned by the original entrepreneurs.
c. Is unusual for start-ups.
d. Stays like this because the owners cannot find someone to invest.
12. A company that grows rapidly requires:
a. A lot of money from investors.
b. An entrepreneur’s willingness to give up a controlling interest.
c. Help from a major company.
d. Products or services targeted at a billion dollar market.
13. Which of the following statements are generally true:
a. Entrepreneurs often work too hard for their own or their family’s good.
b. Entrepreneurs are unwilling to change from their original idea.
c. Entrepreneurs cannot deal with ambiguity.
d. Entrepreneurs cannot take advice from experts.
, Chapter 1: What is an Entrepreneur?
Answer Key
Question Answers
1 C
2 B
3 C
4 B
5 A
6 D
7 D
8 B
9 D
10 A
11 B
12 B
13 C
, Chapter 2: The Entrepreneurial Process
Please answer the following questions.
1. Which of the following is the least fruitful source for identifying business
opportunities?
a. Consumers.
b. Other Entrepreneurs.
c. Technical People.
d. Family Members.
2. A spider-web provides an analogy to a small company because:
a. It is continually under attack from outside
b. It has both radial and circumferential axes
c. It has multiple points for support on the outside
d. It is fragile
3. A near-neighbor network is confined to:
a. People living in the same neighborhood
b. People who have a fear of flying
c. People who can meet frequently
d. People who like each other
4. A scale free network has:
a. Members who only communicate on the Internet and never meet
b. Members who prefer to fly rather than drive
c. A few members who have many more contacts than the most
d. Most members know all the others
5. Which of the following groups is most like a scale free network?
a. Members of a bowling club
b. Subscribers to MySpace
c. Subscribers to BusinessWeek
d. Unlisted telephone subscribers
6. Which of the following professionals are less likely to be highly connected in
a Network?
a. Window-cleaners
b. Attorneys
c. Accountants
d. Management Consultants
7. To relieve stress you should:
a. Work over the weekend if necessary
b. Plan non-work personal time
c. Work more intensely
