Test Bank
Entrepreneurship: The Practice And Mindset
By Heidi M. Neck, Christopher P. Neck,
3rd Edition
,Table Of Contents
Part I. Entrepreneurship Is A Life Skill
Chapter 1: Practicing Entrepreneurship
Chapter 2: Activating An Entrepreneurial Mindset
Part Ii. Creating And Developing Opportunities
Chapter 3: Creating And Recognizing New Opportunities
Chapter 4: Using Design Thinking
Chapter 5: Building Business Models
Chapter 6: Developing Your Customers
Chapter 7: Testing And Experimenting With New Ideas
Chapter 8: Developing Networks And Building Teams
Part Iii. Evaluating And Acting On Opportunities
Chapter 9: Creating Revenue Models
Chapter 10: Planning For Entrepreneurs
Chapter 11: Anticipating Failure
Part Iv. Supporting New Opportunities
Chapter 12: Bootstrapping And Crowdfunding For Resources
Chapter 13: Financing For Startups
Chapter 14: Navigating Legal And Ip Issues
Chapter 15: Engaging Customers Through Marketing
Chapter 16: Supporting Social Entrepreneurship
,Test Bank For
Entrepreneurship The Practice And Mindset 3rd Edition By Heidi M. Neck,
Christopher P. Neck, Emma L. Murray
Chapter 1-16
CHAPTER 1: PRACTICING ENTREPRENEURSHIP
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
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
Entrepreneurship.
Cognitive Domain: Knowledge
Answer Location: Entrepreneurship Requires Action And Practice
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
c. Entrepreneurs
d. Managers
ANS: C
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
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?
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.
Cognitive Domain: Knowledge
Answer Location: Entrepreneurship May Be Different From What You Think
Difficulty Level: Easy
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
.
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
Entrepreneurship.
Cognitive Domain: Comprehension
Answer Location: Media Images Of
Entrepreneurs 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) .
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
By Heidi M. Neck, Christopher P. Neck,
3rd Edition
,Table Of Contents
Part I. Entrepreneurship Is A Life Skill
Chapter 1: Practicing Entrepreneurship
Chapter 2: Activating An Entrepreneurial Mindset
Part Ii. Creating And Developing Opportunities
Chapter 3: Creating And Recognizing New Opportunities
Chapter 4: Using Design Thinking
Chapter 5: Building Business Models
Chapter 6: Developing Your Customers
Chapter 7: Testing And Experimenting With New Ideas
Chapter 8: Developing Networks And Building Teams
Part Iii. Evaluating And Acting On Opportunities
Chapter 9: Creating Revenue Models
Chapter 10: Planning For Entrepreneurs
Chapter 11: Anticipating Failure
Part Iv. Supporting New Opportunities
Chapter 12: Bootstrapping And Crowdfunding For Resources
Chapter 13: Financing For Startups
Chapter 14: Navigating Legal And Ip Issues
Chapter 15: Engaging Customers Through Marketing
Chapter 16: Supporting Social Entrepreneurship
,Test Bank For
Entrepreneurship The Practice And Mindset 3rd Edition By Heidi M. Neck,
Christopher P. Neck, Emma L. Murray
Chapter 1-16
CHAPTER 1: PRACTICING ENTREPRENEURSHIP
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
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
Entrepreneurship.
Cognitive Domain: Knowledge
Answer Location: Entrepreneurship Requires Action And Practice
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
c. Entrepreneurs
d. Managers
ANS: C
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
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?
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.
Cognitive Domain: Knowledge
Answer Location: Entrepreneurship May Be Different From What You Think
Difficulty Level: Easy
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
.
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
Entrepreneurship.
Cognitive Domain: Comprehension
Answer Location: Media Images Of
Entrepreneurs 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) .
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
