MANA 3325-Exam 1-Chapter 1,2,3,4-UTA
Spring
entrepreneur - correct answer ✔✔one who creates a new business in the face of risk and uncertainty for
the purpose of achieving profit and growth by identifying significant opportunities and assembling the
necessary resources to capitalize on them
opportunity entrepreneurs - correct answer ✔✔entrepreneurs who start businesses because they spot
an opportunity in the marketplace
necessity entrepreneurs - correct answer ✔✔entrepreneurs who start businesses because they cannot
find work any other way
serial entrepreneurs - correct answer ✔✔entrepreneurs who repeatedly start businesses and grow them
to a sustainable size before striking out again
social entrepreneurs - correct answer ✔✔entrepreneurs who use their skills not only to create profitable
businesses but also to achieve economic, social, and environmental goals for the common good
cloud computing - correct answer ✔✔Internet-based subscription or pay-per-use software services that
allow business owners to use a variety of business applications, from database management and
inventory control to customer relationship management and accounting
micromultinationals - correct answer ✔✔small companies that operate globally from their inception
family-owned business - correct answer ✔✔one that includes two or more members of a family with
financial control of the company
copreneurs - correct answer ✔✔entrepreneurial couples who work together as co-owners of their
businesses
, small business - correct answer ✔✔one that employs fewer than 100 people
gazelles - correct answer ✔✔small companies that are growing at 20 percent or more per year with at
least $100,000 in annual sales; they create 70 percent of net new jobs in the economy
creativity - correct answer ✔✔the ability to develop new ideas and to discover new ways of looking at
problems and opportunities
innovation - correct answer ✔✔the ability to apply creative solutions to problems and opportunities to
enhance or to enrich people's lives
intrapreneurs - correct answer ✔✔entrepreneurs who operate within the framework of an existing
business
convergent thinking - correct answer ✔✔the ability to see similarities and the connections among
various data and events
divergent thinking - correct answer ✔✔the ability to see among various data and events
brainstorming - correct answer ✔✔a process in which a small group of people interact with very little
structure with the goal of producing a large quantity of novel and imaginative ideas
mind mapping - correct answer ✔✔a graphical technique that encourages thinking on both sides of the
brain, visually displays the various relationships among ideas, and improves the ability to view a problem
from many sides
rapid prototyping - correct answer ✔✔the process of creating a model of an idea, enabling an
entrepreneur to discover flaws in the idea and to make improvements in the design
Spring
entrepreneur - correct answer ✔✔one who creates a new business in the face of risk and uncertainty for
the purpose of achieving profit and growth by identifying significant opportunities and assembling the
necessary resources to capitalize on them
opportunity entrepreneurs - correct answer ✔✔entrepreneurs who start businesses because they spot
an opportunity in the marketplace
necessity entrepreneurs - correct answer ✔✔entrepreneurs who start businesses because they cannot
find work any other way
serial entrepreneurs - correct answer ✔✔entrepreneurs who repeatedly start businesses and grow them
to a sustainable size before striking out again
social entrepreneurs - correct answer ✔✔entrepreneurs who use their skills not only to create profitable
businesses but also to achieve economic, social, and environmental goals for the common good
cloud computing - correct answer ✔✔Internet-based subscription or pay-per-use software services that
allow business owners to use a variety of business applications, from database management and
inventory control to customer relationship management and accounting
micromultinationals - correct answer ✔✔small companies that operate globally from their inception
family-owned business - correct answer ✔✔one that includes two or more members of a family with
financial control of the company
copreneurs - correct answer ✔✔entrepreneurial couples who work together as co-owners of their
businesses
, small business - correct answer ✔✔one that employs fewer than 100 people
gazelles - correct answer ✔✔small companies that are growing at 20 percent or more per year with at
least $100,000 in annual sales; they create 70 percent of net new jobs in the economy
creativity - correct answer ✔✔the ability to develop new ideas and to discover new ways of looking at
problems and opportunities
innovation - correct answer ✔✔the ability to apply creative solutions to problems and opportunities to
enhance or to enrich people's lives
intrapreneurs - correct answer ✔✔entrepreneurs who operate within the framework of an existing
business
convergent thinking - correct answer ✔✔the ability to see similarities and the connections among
various data and events
divergent thinking - correct answer ✔✔the ability to see among various data and events
brainstorming - correct answer ✔✔a process in which a small group of people interact with very little
structure with the goal of producing a large quantity of novel and imaginative ideas
mind mapping - correct answer ✔✔a graphical technique that encourages thinking on both sides of the
brain, visually displays the various relationships among ideas, and improves the ability to view a problem
from many sides
rapid prototyping - correct answer ✔✔the process of creating a model of an idea, enabling an
entrepreneur to discover flaws in the idea and to make improvements in the design
