MGT 410 TEST 1_150 QUESTIONS WITH
VERIFIED ANSWERS
Moderate - CORRECT ANSWER Entrepreneur are usually ____ risk takers
its stakeholders - CORRECT ANSWER A firm's business model is its plan or recipe
for how it creates, delivers, and captures value for ______.
business plan - CORRECT ANSWER A ____ is a written document that describes all
the aspects of a business venture in a concise manner.
Pursing financial rewards - CORRECT ANSWER Which of the following motivations
to launch one's own firm often fails to live up to its hype?
a passion for their business - CORRECT ANSWER The number one characteristic
shared by successful entrepreneurs is __________.
thirties and forties. - CORRECT ANSWER The majority of individuals who start
companies are in their _______.
creative destruction - CORRECT ANSWER Netflix with regard to DVDs is an example
of _______.
new - CORRECT ANSWER Because entrepreneurs are trying something __, the
possibility of failure exists.
,entrepreneurial - CORRECT ANSWER LinkedIn, Dropbox, and Facebook are
examples of ____ firms.
a myth - CORRECT ANSWER That entrepreneurs are born and not made is ______.
innovation - CORRECT ANSWER Established firms often resist ______.
Corporate - CORRECT ANSWER Established firms with an orientation toward acting
entrepreneurially practice ___ entrepreneurship.
New promotion strategies - CORRECT ANSWER Which of the following is NOT an
example of creative destruction?
8.6 million - CORRECT ANSWER According to a study, there were ____ women-
owned businesses in the United States in 2013.
be their own boss - CORRECT ANSWER The three primary reasons that people
become entrepreneurs and start their own firms are to pursue their own ideas,
realize financial rewards, and ________
triggering - CORRECT ANSWER Usually, a(n) ______ event prompts an individual to
become an entrepreneur.
Salary-subsitute - CORRECT ANSWER A dry cleaning business is an example of a(n)
______ firm.
, Joseph Schumpeter - CORRECT ANSWER The concept of creative destruction was
coined by ________.
salary-substitute - CORRECT ANSWER _____ firms are those that basically provide
their owners a level of income similar to what they would be able to earn in a
conventional job.
creative destruction - CORRECT ANSWER Small firms that practice ______ are
called "innovators" or "agents of change."
lifestyle - CORRECT ANSWER A bed and breakfast is an example of a(n) ____ firm.
Execution intelligence - CORRECT ANSWER The ability to fashion a solid idea into a
viable business is called ______.
Social - CORRECT ANSWER Making a difference in people's lives is the primary
motivator behind many _______ enterprises.
opportunities - CORRECT ANSWER Entrepreneurship is defined as the process by
which individuals pursue _______ without regard to resources they currently
control for the purpose of exploiting future goods and services.
Substantial - CORRECT ANSWER The number of seniors (those 50 years of age and
older) starting businesses is ______.
VERIFIED ANSWERS
Moderate - CORRECT ANSWER Entrepreneur are usually ____ risk takers
its stakeholders - CORRECT ANSWER A firm's business model is its plan or recipe
for how it creates, delivers, and captures value for ______.
business plan - CORRECT ANSWER A ____ is a written document that describes all
the aspects of a business venture in a concise manner.
Pursing financial rewards - CORRECT ANSWER Which of the following motivations
to launch one's own firm often fails to live up to its hype?
a passion for their business - CORRECT ANSWER The number one characteristic
shared by successful entrepreneurs is __________.
thirties and forties. - CORRECT ANSWER The majority of individuals who start
companies are in their _______.
creative destruction - CORRECT ANSWER Netflix with regard to DVDs is an example
of _______.
new - CORRECT ANSWER Because entrepreneurs are trying something __, the
possibility of failure exists.
,entrepreneurial - CORRECT ANSWER LinkedIn, Dropbox, and Facebook are
examples of ____ firms.
a myth - CORRECT ANSWER That entrepreneurs are born and not made is ______.
innovation - CORRECT ANSWER Established firms often resist ______.
Corporate - CORRECT ANSWER Established firms with an orientation toward acting
entrepreneurially practice ___ entrepreneurship.
New promotion strategies - CORRECT ANSWER Which of the following is NOT an
example of creative destruction?
8.6 million - CORRECT ANSWER According to a study, there were ____ women-
owned businesses in the United States in 2013.
be their own boss - CORRECT ANSWER The three primary reasons that people
become entrepreneurs and start their own firms are to pursue their own ideas,
realize financial rewards, and ________
triggering - CORRECT ANSWER Usually, a(n) ______ event prompts an individual to
become an entrepreneur.
Salary-subsitute - CORRECT ANSWER A dry cleaning business is an example of a(n)
______ firm.
, Joseph Schumpeter - CORRECT ANSWER The concept of creative destruction was
coined by ________.
salary-substitute - CORRECT ANSWER _____ firms are those that basically provide
their owners a level of income similar to what they would be able to earn in a
conventional job.
creative destruction - CORRECT ANSWER Small firms that practice ______ are
called "innovators" or "agents of change."
lifestyle - CORRECT ANSWER A bed and breakfast is an example of a(n) ____ firm.
Execution intelligence - CORRECT ANSWER The ability to fashion a solid idea into a
viable business is called ______.
Social - CORRECT ANSWER Making a difference in people's lives is the primary
motivator behind many _______ enterprises.
opportunities - CORRECT ANSWER Entrepreneurship is defined as the process by
which individuals pursue _______ without regard to resources they currently
control for the purpose of exploiting future goods and services.
Substantial - CORRECT ANSWER The number of seniors (those 50 years of age and
older) starting businesses is ______.
