Entrepreneurship: Successfully Launching New Ventures, 5e (Barringer/Ireland)
Chapter 1 Introduction to Entrepreneurship
1) Pure Fix Cycles, the company profiled in the opening feature of Chapter 1, was
launched by four co-founders and sells ________.
A) fixed gear, single speed bikes
B) entry level bikes that sell in the $100 price range
C) bikes the are durable enough that they almost never need to be fixed
D) high quality bikes that sell in the $1,000+ price range
E) multiple gear, multiple speed bikes
Answer: A
Diff: 1 Page Ref: 3
LO: 1.1: Describe entrepreneurship, corporate entrepreneurship, and the characteristics
of entrepreneurial firms.
AACSB: Reflective Thinking
2) Which of the following is an accurate characterization of interest in entrepreneurship?
A) There is minimal interest in entrepreneurship across the world.
B) There is minimal interest in entrepreneurship in North America and Europe, but
significant interest in Asia and Australia.
C) There is significant interest in entrepreneurship in North America and Europe, but
minimal interest in Asia and Australia.
D) While interest in entrepreneurship was once high, it is waning in popularity across the
world.
E) There is tremendous interest in entrepreneurship across the world.
Answer: E
Diff: 1 Page Ref: 3
,LO: 1.1: Describe entrepreneurship, corporate entrepreneurship, and the characteristics
of entrepreneurial firms.
AACSB: Application of Knowledge
3) According to the Global Entrepreneurship Monitor (GEM) 2013 survey, about
________ percent of adults in the United States are either starting a business or are
running a business that has been in existence for less than 3 1/2 years.
A) 3.8
B) 5.5
C) 7.6
D) 9.0
E) 12.7
Answer: E
Diff: 3 Page Ref: 5
LO: 1.1: Describe entrepreneurship, corporate entrepreneurship, and the characteristics
of entrepreneurial firms.
AACSB: Application of Knowledge
,4) According to the Global Entrepreneurship Monitor (GEM) 2013 study, the majority of
people in high-income countries are drawn to entrepreneurship ________.
A) to take advantage of an attractive opportunity
B) due to lack of career prospects
C) as a result of government incentives
D) because an important role model was an entrepreneur
E) to gain prestige
Answer: A
Diff: 2 Page Ref: 5
LO: 1.1: Describe entrepreneurship, corporate entrepreneurship, and the characteristics
of entrepreneurial firms.
AACSB: Reflective Thinking
5) Which of the following statements regarding survival rates of entrepreneurial firms in
the United States is correct?
A) As high as 50 percent after four years
B) As high as 60 percent after four years
C) As high as 70 percent after four years
D) As high as 80 percent after four years
E) As high as 90 percent after four years
Answer: A
Diff: 2 Page Ref: 6
LO: 1.1: Describe entrepreneurship, corporate entrepreneurship, and the characteristics
of entrepreneurial firms.
AACSB: Reflective Thinking
6) Cody Rodgers is the founder of a company named Extreme Sports Apparel. The
, company makes apparel products for extreme sports enthusiasts such as rock climbers,
triathletes, skateboarders, and BMX bikers. Cody wants his company to pursue a high
level of corporate entrepreneurship. To achieve that goal, Cody's firm should be
________.
A) innovative, risk averse, and take a "wait and see" posture
B) taking a "wait and see" posture, innovative, and risk taking
C) proactive, not innovative, and risk taking
D) taking a "wait and see" posture, not innovative, and risk averse
E) proactive, innovative, and risk taking
Answer: E
Diff: 2 Page Ref: 6
LO: 1.1: Describe entrepreneurship, corporate entrepreneurship, and the characteristics
of entrepreneurial firms.
AACSB: Analytical Thinking
Chapter 1 Introduction to Entrepreneurship
1) Pure Fix Cycles, the company profiled in the opening feature of Chapter 1, was
launched by four co-founders and sells ________.
A) fixed gear, single speed bikes
B) entry level bikes that sell in the $100 price range
C) bikes the are durable enough that they almost never need to be fixed
D) high quality bikes that sell in the $1,000+ price range
E) multiple gear, multiple speed bikes
Answer: A
Diff: 1 Page Ref: 3
LO: 1.1: Describe entrepreneurship, corporate entrepreneurship, and the characteristics
of entrepreneurial firms.
AACSB: Reflective Thinking
2) Which of the following is an accurate characterization of interest in entrepreneurship?
A) There is minimal interest in entrepreneurship across the world.
B) There is minimal interest in entrepreneurship in North America and Europe, but
significant interest in Asia and Australia.
C) There is significant interest in entrepreneurship in North America and Europe, but
minimal interest in Asia and Australia.
D) While interest in entrepreneurship was once high, it is waning in popularity across the
world.
E) There is tremendous interest in entrepreneurship across the world.
Answer: E
Diff: 1 Page Ref: 3
,LO: 1.1: Describe entrepreneurship, corporate entrepreneurship, and the characteristics
of entrepreneurial firms.
AACSB: Application of Knowledge
3) According to the Global Entrepreneurship Monitor (GEM) 2013 survey, about
________ percent of adults in the United States are either starting a business or are
running a business that has been in existence for less than 3 1/2 years.
A) 3.8
B) 5.5
C) 7.6
D) 9.0
E) 12.7
Answer: E
Diff: 3 Page Ref: 5
LO: 1.1: Describe entrepreneurship, corporate entrepreneurship, and the characteristics
of entrepreneurial firms.
AACSB: Application of Knowledge
,4) According to the Global Entrepreneurship Monitor (GEM) 2013 study, the majority of
people in high-income countries are drawn to entrepreneurship ________.
A) to take advantage of an attractive opportunity
B) due to lack of career prospects
C) as a result of government incentives
D) because an important role model was an entrepreneur
E) to gain prestige
Answer: A
Diff: 2 Page Ref: 5
LO: 1.1: Describe entrepreneurship, corporate entrepreneurship, and the characteristics
of entrepreneurial firms.
AACSB: Reflective Thinking
5) Which of the following statements regarding survival rates of entrepreneurial firms in
the United States is correct?
A) As high as 50 percent after four years
B) As high as 60 percent after four years
C) As high as 70 percent after four years
D) As high as 80 percent after four years
E) As high as 90 percent after four years
Answer: A
Diff: 2 Page Ref: 6
LO: 1.1: Describe entrepreneurship, corporate entrepreneurship, and the characteristics
of entrepreneurial firms.
AACSB: Reflective Thinking
6) Cody Rodgers is the founder of a company named Extreme Sports Apparel. The
, company makes apparel products for extreme sports enthusiasts such as rock climbers,
triathletes, skateboarders, and BMX bikers. Cody wants his company to pursue a high
level of corporate entrepreneurship. To achieve that goal, Cody's firm should be
________.
A) innovative, risk averse, and take a "wait and see" posture
B) taking a "wait and see" posture, innovative, and risk taking
C) proactive, not innovative, and risk taking
D) taking a "wait and see" posture, not innovative, and risk averse
E) proactive, innovative, and risk taking
Answer: E
Diff: 2 Page Ref: 6
LO: 1.1: Describe entrepreneurship, corporate entrepreneurship, and the characteristics
of entrepreneurial firms.
AACSB: Analytical Thinking
