Entrepreneurship Exam 1 Questions with Verified Solutions Rated A+
9.6 - Answers % of americans that are actively engaged in starting a business/are the manager/owner of
a business that is less than 3 years old
5,000 - Answers # of entrepreneurship courses offered in 2/4 year colleges/universities in the US
pursue, resources, academic - Answers entrepreneurship is the process by which individuals
______opportunities w/out regard to _____ they currently control (______ definition)
art, idea, business, venture capitalist - Answers entrepreneurship is the ___ of turning an ____ into a
_____ (______ definition)
assemble, integrate, invention, viable - Answers entrepreneurs ______ and then _____ all resources
needed ($, ppl, biz model, strategy) to transform an ____/idea into a ____ business
corporate entrepreneurship - Answers the conceptualization of entrepreneurship at the firm level (all
firms fall along the conceptual continuum that ranges from highly conservative to highly
entrepreneurial)
entrepreneurial - Answers _____ firms are proactive, innovative & risk taking
conservative - Answers _____ firms take a more "wait & see" posture, are less innovative & risk adverse
passion, product, execution, tenacity - Answers characteristics of successful entrepreneurs:
-____ for the business
-____/customer focus
-_____ intelligence
-_____ despite failure
passion for the business - Answers #1 characteristic shared by successful entrepreneur
passion for the business - Answers characteristic of successful entrepreneur that stems from the
entrepreneurs belief that the business will positively influence people's lives
craftspeople - Answers characteristic of successful entrepreneur of product/customer focus stems from
the fact that most entrepreneurs are, at heart, ______
execution intelligence - Answers the ability to fashion a solid business idea into a viable business
born, made, gamblers, money, young, energetic - Answers myths... entrepreneurs:
-are ____, not ____
-are _____
, -are motivated by _____
-should be ____ & _____
achievement, opportunities, work ethic, moderate, lengthy, optimistic, confident, ambiguity - Answers
characteristics/common traits:
_____ motivated
alert to _______
creative
decisive
energetic
strong ____ ____
____ risk taker
networker
_____ attention span
_____ disposition
persuasive
promoter
resource assembler
self-_____
tenacious
tolerant of _____
visionary
structured, uncertain, achieve - Answers the idea that entrepreneurs are gamblers originates from 2
sources:
-they typically have jobs that are less ______, so face more ____ set of possibilities
-have strong need to ____ & set challenging goals which is a behavior equated w/ risk taking
distracting, rarely - Answers some entrepreneurs warn that the pursuit of money can be ______ & it is
____ the reason to start a new firm
9.6 - Answers % of americans that are actively engaged in starting a business/are the manager/owner of
a business that is less than 3 years old
5,000 - Answers # of entrepreneurship courses offered in 2/4 year colleges/universities in the US
pursue, resources, academic - Answers entrepreneurship is the process by which individuals
______opportunities w/out regard to _____ they currently control (______ definition)
art, idea, business, venture capitalist - Answers entrepreneurship is the ___ of turning an ____ into a
_____ (______ definition)
assemble, integrate, invention, viable - Answers entrepreneurs ______ and then _____ all resources
needed ($, ppl, biz model, strategy) to transform an ____/idea into a ____ business
corporate entrepreneurship - Answers the conceptualization of entrepreneurship at the firm level (all
firms fall along the conceptual continuum that ranges from highly conservative to highly
entrepreneurial)
entrepreneurial - Answers _____ firms are proactive, innovative & risk taking
conservative - Answers _____ firms take a more "wait & see" posture, are less innovative & risk adverse
passion, product, execution, tenacity - Answers characteristics of successful entrepreneurs:
-____ for the business
-____/customer focus
-_____ intelligence
-_____ despite failure
passion for the business - Answers #1 characteristic shared by successful entrepreneur
passion for the business - Answers characteristic of successful entrepreneur that stems from the
entrepreneurs belief that the business will positively influence people's lives
craftspeople - Answers characteristic of successful entrepreneur of product/customer focus stems from
the fact that most entrepreneurs are, at heart, ______
execution intelligence - Answers the ability to fashion a solid business idea into a viable business
born, made, gamblers, money, young, energetic - Answers myths... entrepreneurs:
-are ____, not ____
-are _____
, -are motivated by _____
-should be ____ & _____
achievement, opportunities, work ethic, moderate, lengthy, optimistic, confident, ambiguity - Answers
characteristics/common traits:
_____ motivated
alert to _______
creative
decisive
energetic
strong ____ ____
____ risk taker
networker
_____ attention span
_____ disposition
persuasive
promoter
resource assembler
self-_____
tenacious
tolerant of _____
visionary
structured, uncertain, achieve - Answers the idea that entrepreneurs are gamblers originates from 2
sources:
-they typically have jobs that are less ______, so face more ____ set of possibilities
-have strong need to ____ & set challenging goals which is a behavior equated w/ risk taking
distracting, rarely - Answers some entrepreneurs warn that the pursuit of money can be ______ & it is
____ the reason to start a new firm
