ENTR 321 - QUIZ 1 QUESTIONS AND VERIFIED
ANSWERS
The macro view of entrepreneurship focuses heavily on attributing the success (or
failure) of entrepreneurs on what we refer to as an "external locus of control" point of
view. Such schools of thought include environmental (i.e., lifestyle factors impact
potential entrepreneurs), financial/capital (i.e., funding/capital primarily affect
entrepreneurs), and displacement (i.e., political, cultural, or economic institutions launch
individuals into entrepreneurship). - Answers - Entrepreneurial success depends mostly
on outside factors beyond our control.
The micro view of entrepreneurship focuses heavily on attributing the success (or
failure) of entrepreneurs on what we refer to as an "internal locus of control" point of
view. Such schools of thought include entrepreneurial traits (i.e., entrepreneurs largely
exhibit similar characteristics), venture opportunity (i.e., entrepreneurs must have
creative market awareness), and strategic formulation (i.e., proper planning processes
make for successful ventures). - Answers - Entrepreneurial success is largely the result
of factors within an individual's control.
There's much to be said about the interchangeability of the designations "entrepreneur"
and "small-business owner". While both may own and run a business, there are a few
objectives that accompany being an entrepreneur that are not necessities for small-
business owners.
Which of the following is not an objective of entrepreneurs that sets them apart from
small business owners? - Answers - A focus on effective management
We began the semester by discussing a number of common myths about entrepreneurs
and entrepreneurship.
Which of the following was not a myth debunked by Kuratko in his text? - Answers -
Entrepreneurs need more than money to succeed
It is often suggested that the United States is a leader in entrepreneurship due to a
number of cultural elements found within the country (with an estimated 25 million
Americans starting or running new business ventures within the last five years).
To which of the following cultural elements do we not commonly attribute the strength
and popularity of entrepreneurship in the United States? - Answers - Low communality
Kuratko talks a great deal about the role of "entrepreneurial cognition" in understanding
who entrepreneurs are and the characteristics that are associated with their mind-sets.
When we refer to "entrepreneurial cognition", to which three (3) of the following are we
referring? - Answers - - The mental states of entrepreneurs
- The mental processes of entrepreneurs
- The mental functions of entrepreneurs
ANSWERS
The macro view of entrepreneurship focuses heavily on attributing the success (or
failure) of entrepreneurs on what we refer to as an "external locus of control" point of
view. Such schools of thought include environmental (i.e., lifestyle factors impact
potential entrepreneurs), financial/capital (i.e., funding/capital primarily affect
entrepreneurs), and displacement (i.e., political, cultural, or economic institutions launch
individuals into entrepreneurship). - Answers - Entrepreneurial success depends mostly
on outside factors beyond our control.
The micro view of entrepreneurship focuses heavily on attributing the success (or
failure) of entrepreneurs on what we refer to as an "internal locus of control" point of
view. Such schools of thought include entrepreneurial traits (i.e., entrepreneurs largely
exhibit similar characteristics), venture opportunity (i.e., entrepreneurs must have
creative market awareness), and strategic formulation (i.e., proper planning processes
make for successful ventures). - Answers - Entrepreneurial success is largely the result
of factors within an individual's control.
There's much to be said about the interchangeability of the designations "entrepreneur"
and "small-business owner". While both may own and run a business, there are a few
objectives that accompany being an entrepreneur that are not necessities for small-
business owners.
Which of the following is not an objective of entrepreneurs that sets them apart from
small business owners? - Answers - A focus on effective management
We began the semester by discussing a number of common myths about entrepreneurs
and entrepreneurship.
Which of the following was not a myth debunked by Kuratko in his text? - Answers -
Entrepreneurs need more than money to succeed
It is often suggested that the United States is a leader in entrepreneurship due to a
number of cultural elements found within the country (with an estimated 25 million
Americans starting or running new business ventures within the last five years).
To which of the following cultural elements do we not commonly attribute the strength
and popularity of entrepreneurship in the United States? - Answers - Low communality
Kuratko talks a great deal about the role of "entrepreneurial cognition" in understanding
who entrepreneurs are and the characteristics that are associated with their mind-sets.
When we refer to "entrepreneurial cognition", to which three (3) of the following are we
referring? - Answers - - The mental states of entrepreneurs
- The mental processes of entrepreneurs
- The mental functions of entrepreneurs
