(Test Bank) Entrepreneurship

Kuratko, 1

Business

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Test Bank for Entrepreneurship, The downloadable file consists of 194 pages, and the total size of the file is 5.07 MB. Purchase now only for highly discounted price.

Author(s): Kuratko

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Entrepreneurship,Kuratko-Completetestbank 1.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTION Entrepreneursareaggressivecatalystsforchangewithinthe marketplace. *a.True b.False 2.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI2 Entrepreneursarenotheroesintoday’smarketplace. a.True *b.False 3.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI3 Entrepreneursarethemajorsourceofinnovationandjobcreationin anyeconomy. *a.True b.False 4.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI4 Entrepreneurshipismorethanmerecreationofbusiness. *a.True b.False 5.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI5 Smallenterprisesarethemostcommonformofestablishment,regardless oftheindustry. *a.True b.False 6.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI6 Duringthepasttenyears,newbusinessincorporationsaveraged600,000 peryear. *a.True b.False 7.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI 7Oneofevery1000adultsparticipatesinthefoundingofanew firmeveryyear. a.True *b.FalseEntrepreneurship,Kuratko-Completetestbank 8.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI8 TheentrepreneurialspiritisuniquetoAmericaandWesternEurope. a.True *b.False 9.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI9 A“gazelle”isabusinessestablishmentwithatleast20percentsales growtheveryyearforfiveyears. *a.True b.False 10.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI10 Gazellesproduceonlyonehalftheinnovationsperemployeethatlarger firmsdo. a.True *b.False 11.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI11 Newandsmallerfirmsobtainmorepatentspersalethandolarger firms. *a.True b.False 12.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI12 Gazellesproduced5millionjobsinthedownsizingyearsofthe1990's. *a.True b.False 13.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI13 Gazellesalwaysoperateinnationalorinternationalmarkets. a.True *b.False 14.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI14 Newandsmallerfirmsareresponsiblefor95%ofallradical innovations. *a.True b.False 15.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI15 Gazellesarealmostalwayshightech.Entrepreneurship,Kuratko-Completetestbank a.True *b.False 16.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI16 Gazellesdon’talwaysgetVCfunding. *a.True b.False 17.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI17 Women’sshareofselfemploymentwillstilllagbehindthatofmenby theendof2005. a.True *b.False 18.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI18 Threecharacteristicsofanentrepreneurarepersonalinitiative, managementskills,andadesireforautonomy. *a.True b.False 19.CHAPTER 1: ENTREPRENEURSHIP: EVOLUTIONARY DEVELOPMENT- REVOLUTI19Largefirmsratherthantheentrepreneurarethe aggressivecatalystforchangeintheworldofbusiness. a.True *b.False 20.CHAPTER 1: ENTREPRENEURSHIP: EVOLUTIONARY DEVELOPMENT- REVOLUTI20ThewordentrepreneurisderivedfromtheSpanishword entreprendre,meaning“toundertake.” a.True *b.False 21.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI21 Thereisnosingledefinitionofanentrepreneur;howeverresearchis providingasharperfocusonthesubject. *a.True b.False 22.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI22 RecognitionofentrepreneursdatesbacktotheFrencheconomistRichard Cantillon.Entrepreneurship,Kuratko-Completetestbank *a.True b.False 23.CHAPTER 1: ENTREPRENEURSHIP: EVOLUTIONARY DEVELOPMENT- REVOLUTI23Inthepastcentury,entrepreneurshiphasbecomeclosely linkedwithsocialismandregulatedbusiness. a.True *b.False 24.CHAPTER 1: ENTREPRENEURSHIP: EVOLUTIONARY DEVELOPMENT- REVOLUTI24Entrepreneursarethemajorsourceofinnovationandjob creationintheeconomy. *a.True b.False 25.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI25 AccordingtoRobertC.Ronstadt,entrepreneurshipistheprocessof creatingincrementalwealth. *a.True b.False 26.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI26 Mostentrepreneursareinventors. a.True *b.False 27.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI27 Anentrepreneurdoesnotneedalotofmoneyorluck. *a.True b.False 28.CHAPTER 1: ENTREPRENEURSHIP: EVOLUTIONARY DEVELOPMENT- REVOLUTI28Preparedentrepreneurswhoseizeopportunitieswhenthey ariseoftenappeartobelucky. *a.True b.False 29.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI29 Entrepreneursarehighrisktakers. a.True *b.FalseEntrepreneurship,Kuratko-Completetestbank 30.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI30 Entrepreneursalwaysstarttheirbusinessatayoungage. a.True *b.False 31.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI31 Characteristicsofentrepreneurscannotbetaughtorlearned. a.True *b.False 32.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI32 Entrepreneursarebornnotmade. a.True *b.False 33.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI33 Entrepreneursaredoersnotthinkers. a.True *b.False 34.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI34 Entrepreneursmustfitthe“profile.” a.True *b.False 35.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI35 Entrepreneursareoftenverymethodicalpeoplewhoplantheirmoves verycarefully. *a.True b.False 36.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI36 The“corridorprinciple”statesthatentrepreneursoftengetstuckon oneidea. a.True *b.False 37.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI37 Entrepreneursareoftenknownascalculatedrisktakers,asopposedto “gamblers.”Entrepreneurship,Kuratko-Completetestbank *a.True b.False 38.CHAPTER 1: ENTREPRENEURSHIP: EVOLUTIONARY DEVELOPMENT- REVOLUTI38Themacroviewincludesexternalprocessesthatare sometimesbeyondthecontroloftheentrepreneur. *a.True b.False 39.CHAPTER 1: ENTREPRENEURSHIP: EVOLUTIONARY DEVELOPMENT- REVOLUTI39Thedisplacementschoolofthoughtfocusesongroup phenomena. *a.True b.False 40.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI40 Thestrategicformulationschoolofthoughtemphasizestheplanning processinsuccessfulventuredevelopment. *a.True b.False 41.CHAPTER 1: ENTREPRENEURSHIP: EVOLUTIONARY DEVELOPMENT- REVOLUTI41Intheenvironmentalschoolofthought,legalissues surroundingthenaturalenvironmentareprimary. a.True *b.False 42.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI42 Thefinancial/capitalentrepreneurialschoolofthoughtfocusesonthe potentialprofitofthebusinessidea. a.True *b.False 43.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI43 Political,cultural,andeconomicdisplacementareallpartofthe displacementschoolofentrepreneurialthought. *a.True b.False 44.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI44 “Greatchef”strategiesfocusonuniquemarkets.Entrepreneurship,Kuratko-Completetestbank a.True *b.False 45.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI45 Entrepreneurshipinvolvesaninterdisciplinaryapproach. *a.True b.False 46.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI46 Theentrepreneurialeventsapproachfocusesonsuchfactorsas initiative,organization,autonomy,andrisktaking. *a.True b.False 47.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI47 Thefourmajordimensionsconsideredinthemultidimensionalapproach aretheindividual,theenvironment,theorganization,andtheprocess. *a.True b.False 48.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI48 Entrepreneursarebestcharacterizedas: *a.aggressivecatalystsforchange b.goodmanagers c.hardtogetalongwith d.notfittingintoanordinaryworkplace 49.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI49 Duringthepasttenyears,therewereapproximatelyhowmanybusiness incorporationsperyear? *a.600,000 b.500,000 c.700,000 d.1million 50.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI50 Entrepreneurswillalwaysbe a.akeyfactorinthestabilityofthesmallbusinesssector b.hinderedbylackoffunding *c.themajorsourceofjobcreationandinnovationinanyeconomy d.alittlequirkyEntrepreneurship,Kuratko-Completetestbank 51.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI51 SincethenewcenturytheUShashadanannualnewfirmbirthrateof a.4-6per100existingestablishments *b.14-16per100existingestablishments c.50-60per100existingestablishments d.almostnone 52.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI52 Intheevolutionaryprocessofeconomicgrowth,playsthecrucialand indispensableroleofprovidingthe“socialglue”thatbindstogetherbothhigh-tech and“MainStreet”activities. *a.entrepreneurship b.supplyanddemand c.theInternet d.management 53.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI53 Entrepreneursandgazelleshavebeencreditedwithmakingdisproportionate contributionstoallbutwhichofthefollowing. a.innovation b.jobcreation c.economicrenewal *d.unemployment 54.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI54 Whichofthefollowingstatementsbestdescribesa“gazelle?” *a.abusinesswithatleast20%growtheveryyear b.abusinesswithnosalesgrowth c.abusinessthathasacquirednumerousfirms d.aninventorwhoturnedbusinessperson 55.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI55 Gazelleshavebeenresponsibleforwhichofthefollowing: a.somejobgrowth *b.55percentofinnovations c.30percentofallradicalinnovations d.mostjobturnover 56.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI56 istheeconomicbasisforallentrepreneurialactivity. a.Individuality b.Capitalism c.VoodooeconomicsEntrepreneurship,Kuratko-Completetestbank *d.Freeenterprise 57.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI57 ThewordentrepreneurisderivedfromtheFrenchentreprendre,whichistranslated as a.toapprehend. b.toundertake. *c.tocompete. d.toenteranddare. 58.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI58 Theentrepreneurisonewho a.dreamsallday. *b.manages. c.overseesmanufacturing. d.inventsnewproducts. 59.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI59 Whichofthefollowingcharacteristicsismostimportanttoanentrepreneur? *a.managementskills b.neatness c.friendliness d.havinganiceoffice. 60.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI60 Thestudyofentrepreneurshipis a.basedonthefieldofmanagement b.basedonthefieldofaccounting c.basedonthefieldofsociology *d.interdisciplinary 61.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI61 Whicheconomistassociatedthe“riskbearing”activityintheeconomywiththe entrepreneur? *a.RichardCantillon b.RobertC.Ronstadt c.PeterF.Drucker d.JeanBaptisteSay 62.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI62 Whichisnotoneofthechiefcharacteristicsofanentrepreneur? a.personalinitiative b.abilitytoconsolidateresourcesEntrepreneurship,Kuratko-Completetestbank c.risktaking *d.desireforcontrolofpeople 63.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI63 Whichisakeyfactorinsuccessfulentrepreneurship? a.identifyingthestrengthsofaventure b.settingupcleartimetables *c.minimizingproblemsthroughcarefulstrategyformulation d.theproductitself 64.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI64 Entrepreneurialtraitsincludewhichofthefollowing? a.salesmanship *b.initiative c.wealth d.edginess 65.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI65 RobertC.Ronstadtputtogetherasummarydefinitionofentrepreneurthatincluded whichofthefollowingkeyphrases? a.theacceptanceofriskoffailure *b.thedynamicprocessofcreatingincrementalwealth c.takeadvantageofeconomicendowments d.aphenomenonthatcomesunderthewideraspectofleadership 66.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI66 Inthepresentcentury,whichofthefollowingisentrepreneurshipconsidered synonymouswith: *a.freeenterprise. b.socialism. c.multimilliondollarenterprises. d.partnership. 67.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI67 Whichisatruestatementaboutentrepreneurs? *a.Entrepreneursaredoersandthinkers. b.Allyouneedismoneytobeanentrepreneur. c.Ignoranceisblissforanentrepreneur. d.Inheritingabusinessisthebestwaytobecomeanentrepreneur. 68.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI68 Throughouttheyears,manymythshavearisenaboutentrepreneurshipasaresult of?Entrepreneurship,Kuratko-Completetestbank *a.alackofresearchaboutentrepreneurship b.alackofinterestinthefield c.atotaldisregardforthetruth d.adestructiveattitudebygovernment 69.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI69 The“corridorprinciple”isbestdescribedbywhichofthefollowingstatements? *a.Ifatfirstyoudon’tsucceed,try,try,again. b.Therightplaceattherighttime. c.Witheverynewventurelaunched,newandunintendedopportunitiesarise. d.Luckhappenswhenpreparationmeetsopportunity. 70.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI70 Whichofthefollowingtraitsisnotthatofanentrepreneur? a.drive *b.shyness c.willingnesstotakerisks d.humanrelationsskills 71.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI71 Moneyisnecessarybutnotsufficientforentrepreneurstosurvivebecause *a.Lackofpreparationandplanningcanbeamainsourceoffailure. b.Theupsanddownsoftheeconomydeterminetheentrepreneur’ssuccess. c.Theideaisthesourceofsuccess. d.Moneyandbeingintherightplaceattherighttimespellssuccess. 72.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI72 Whichofthefollowingisnotacommonmythaboutentrepreneurs? a.Entrepreneursareacademicandsocialmisfits. b.Entrepreneursaredoers,notthinkers. *c.Entrepreneurstodayareconsideredheroes. d.Allyouneedismoneytobeanentrepreneur. 73.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI73 Whichstatementisnottrue? a.Luckhappenswhenpreparationmeetsopportunity. *b.Entrepreneursdonotholdupintoday’scompetitivemarket. c.Failureduetolackofproperfinancingoftenisanindicatorofotherproblems. d.Ittakesmorethanjustmoneytobeasuccessfulentrepreneur. 74.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI74 MostentrepreneursshouldbecategorizedasEntrepreneurship,Kuratko-Completetestbank a.inventors. *b.innovators. c.lucky. d.wealthy. 75.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI75 Whichofthefollowingstatementsistrue? *a.Entrepreneurshipistheabilitytocreateandbuildavisionfrompractically nothing b.Entrepreneurshipispureluck c.Entrepreneurshipissimplyobtainingfinancingandstartingabusiness d.Entrepreneurshiphasnothingtodowithcreatingincrementalwealth 76.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI76 Whichofthefollowingeconomistswroteaboutentrepreneurshipanditsimpacton economicdevelopment? a.RichardDailey *b.JosephSchumpeter c.PaulSamuelson d.RobertMcConnell 77.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI77 Inourpresentcentury,entrepreneurshiphasbecomesynonymousorcloselylinked with: a.failure b.socialismandmonopolies c.multimilliondollarenterprises *d.freeenterpriseandcapitalism 78.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI78 MichaelGerberhaswrittenabooktitled,“TheE-Myth,”wherehecontends: a.theentirefieldofstudyinentrepreneurshipisamyth b.thereisnosuchthingasentrepreneurship *c.today’sbusinessownersarenottrueentrepreneurs d.everybodyinbusinessisanentrepreneur 79.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI79 MichaelGerber’sbook“TheE-Myth”explainsthefailureofmostsmallbusinessesis dueto: *a.ownersbeingmoretechniciansratherthanentrepreneurs b.ownersbeingmoremanagerialratherthantechnical c.ownersbeingmoreentrepreneurialratherthanmanagerial d.ownersbeingmorecustomersratherthanbusinesspeopleEntrepreneurship,Kuratko-Completetestbank 80.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI80 Entrepreneursalways a.starttheirbusinessatayoungage b.quitschoolanddevotethemselvestobeinganentrepreneur c.usecreditcardstostarttheirownbusinesses *d.generateideasandplanfortheirimplementation 81.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI81 Whenreferringto“luck”andanentrepreneur,whichofthefollowingstatementsin anappropriateadage? a.alwayswaitforlucktohappen *b.luckhappenswhenpreparationmeetsopportunity c.luckhappenstoeveryone d.luckisthekeytoentrepreneurship 82.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI82 Thestatement,“witheverynewventurelaunched,newandunintendedopportunities oftenarise,”wouldbeassociatedwith: a.theentrepreneurialprinciple b.theopportunityprinciple *c.thecorridorprinciple d.thedilbertprinciple 83.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI83 Entrepreneursthemselvesperceivetheconceptofriskinwhichofthefollowing ways: *a.calculatedrisktaking b.gamblingrisk c.distortedrisktaking d.socialrisk 84.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI84 Inthestudyofcontemporaryentrepreneurship,oneconceptreoccurs: a.nooneunderstandsthefield b.folkloredominatesthestudies c.thereisnotheoreticalbase *d.entrepreneurshipisinterdisciplinary 85.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI85 Themacroviewofentrepreneurshippresentsfactorsexhibitingastrong. a.internallocusofcontrol *b.externallocusofcontrol c.environmentallocusofcontrolEntrepreneurship,Kuratko-Completetestbank d.contemporarylocusofcontrol 86.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI86 Entrepreneursaremoreaccuratelydepictedbywhichofthefollowing: a.entrepreneursaregamblers b.entrepreneursareextremerisktakers *c.entrepreneursarecalculatedrisktakers d.entrepreneursoftendon’twanttoknowhowmuchriskisinvolved 87.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI87 3M’sPost-itnoteisanexampleofthe. a.theoryofdecliningreturn *b.corridorprinciple c.theoryofincreasingreturn d.riskversusrewardprinciple 88.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI88 Whichofthefollowingschoolsofthoughtisnotamicroviewschoolofthought? a.theentrepreneurialtraitschoolofthought b.theventureopportunityschoolofthought *c.thedisplacementschoolofthought d.theinheritedbusinessschoolofthought 89.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI89 Themacroviewcanbebrokendownintowhichthreeareas? *a.theenvironmental,financial,anddisplacement b.thefinancial/capital,strategic,andopportunity c.thedisplacement,trait,andfinancial d.theentrepreneurialtrait,opportunity,andstrategic 90.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI90 Thedisplacementschoolofthoughtcanbedividedintowhichthreegroups? a.political,cultural,environmental b.cultural,environmental,andfinancial c.environmental,financial,andeconomic *d.economic,cultural,andpolitical 91.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI91 Themicroviewisdividedintowhichthreetheories? a.theentrepreneurial,financial,displacement *b.theventureopportunitytheory,entrepreneurial,strategic c.thestrategic,environmental,andopportunityEntrepreneurship,Kuratko-Completetestbank d.theenvironmental,financial,anddisplacement 92.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI92 Whichofthefollowingisnotaformofdisplacementinthedisplacementschoolof thought? a.political *b.racial c.economical d.cultural 93.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI93 Whichofthefollowingdoesnotapplytothestrategicformulationschoolofthought? a.uniquepeople *b.uniqueplaces c.uniquemarkets d.uniqueproducts 94.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI94 Waterwellstrategiesreferto: *a.uniqueresources b.uniqueproducts c.uniquemarkets d.uniqueproducts 95.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI95 Mountaingapstrategiesreferto: a.uniqueresources b.uniquelocations c.uniqueresources *d.uniquemarkets 96.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI96 TheEntrepreneurialAssessmentApproachstressedthatassessmentsmustbemade inregardtotheentrepreneur,theventure,andtheenvironment. a.qualitativelyandquantitatively b.strategicallyandethically *c.aandb d.financially 97.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI97 Theprocessapproachtoentrepreneurshipseeksto a.explaintheprocessofobtainingpatents *b.modelthevariousfactorsthatcharacterizetheentrepreneurialprocessEntrepreneurship,Kuratko-Completetestbank c.explainintrapreneurship. d.explaintheprocessofobtainingventurecapital 98.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI98 Describeentrepreneursandentrepreneurshipintoday’smarketplace. CorrectAnswer: Entrepreneursareindividualswhorecognizeopportunitieswhereothersseechaos,or confusion.Theyareaggressivecatalystsforchangewithinthemarketplace.They havebeencomparedtoOlympicathleteschallengingthemselvestobreaknew barriers,tolongdistancerunnersdealingwiththeagonyofthemiles,tosymphony orchestraconductorswhobalancethedifferentskillsandsoundsintoacohesive whole,ortotop-gunpilotswhocontinuallypushtheenvelopeofspeedanddaring. Whateverthepassion,becausetheyallfitinsomeway,entrepreneursaretheheroes oftoday’smarketplace.Theystartandcreatejobsatabreathtakingpace. Entrepreneurshipisanintegratedconceptthatpermeatesanindividual’sbusinessin aninnovativemanner.Itisthisperspectivethathasrevolutionizedthewaybusiness isconductedateverylevelandineverycountry.Therevolutionhasbeguninan economicsense,andtheentrepreneurialperspectiveisthedominantforce. 99.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUTI99 Howdominanthavenewandsmallventuresbeenintheeconomy? CorrectAnswer: Thepastdecadehasdemonstratedthepowerfulemergenceofentrepreneurial activityintheUnitedStates.Manystatisticsillustratethisfact.Forexample,during thepasttenyearsnewbusinessincorporationsaveraged600,000peryear.Although manyoftheseincorporationsmayhavebeensoleproprietorshipsorpartnerships previously,itstilldemonstratesventureactivity,whetheritwasthroughstart-ups, expansion,ordevelopment.Let’sexaminesomeofthelatesttabulatednumbers. Smallerfirmsconstitutemorethan90percentoftheentirebusinesspopulation. Granted,thisfiguredependsonthedefinitionoftheterm“small;”however,the InternalRevenueService(IRS)reportsthat21millionbusinessesexistbasedon businesstaxreturns.Figure1.1wasdevelopedbytheNationalFederationof IndependentBusiness(NFIB)inordertodemonstratethebreakdown.Approximately 12millionbusinesseshaveownerswhoseprincipaloccupationisowningand operatingthem.Approximately7million(outof12million)haveownerswhoworkfor themselveswithemployinganyoneelse.Ofthe5millionremainingfirmsonly15,000 employ500ormorepeople. 100.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUT100 Definea“gazelle”anddiscusssomeoftheimpactthatgazelleshaveon theeconomy. CorrectAnswer: NewandsmallerfirmscreatethemostjobsintheU.S.economy.Thefactsspeakfor themselves.Thevastmajorityofthesejob-creatingcompaniesarefast-growing businesses.DavidBirchofCognetics,Inc.hasnamedthesefirms“gazelles.”AEntrepreneurship,Kuratko-Completetestbank gazelle,byBirch’sdefinition,isabusinessestablishmentwithatleast20percent salesgrowtheveryyearforfiveyearsstartingwithabaseofatleast$100,000. Despitethecontinualdownsizinginmajorcorporations,thegazellesproduced5 millionjobsandbroughtthenetemploymentgrowthto4.2millionjobs. Gazellesareleadersininnovation,asshownbythefollowing: es003-1.jpgNewandsmallerfirmshavebeenresponsiblefor55percentofthe innovationin362differentindustriesand95percentofallradicalinnovations.es003- 2.jpgGazellesproducetwiceasmanyproductinnovationsperemployeeasdolarger firms. es003-3.jpgNewandsmallerfirmsobtainmorepatientspersalesdollarthando largerfirms. 101.CHAPTER 1: ENTREPRENEURSHIP: EVOLUTIONARY DEVELOPMENT- REVOLUT101Nameanddescribefourofthetenmajormythsofmanagement. CorrectAnswer: Oneofthemythsofmanagementsaysthatentrepreneursareborn,notmade.This mythimpliesthatentrepreneurscannotbetaughthowtobesuccessful.Itsaysthat theymustbebornwithcertaintraits,suchasaggressiveness,initiative,drive,and skillinhumanrelations.However,recentrecognitionofentrepreneurshipasa disciplineishelpingtodispelthismyth.Anothermythisthe“allyouneedismoney” myth,whichsaysbusinessesfailbecauseofinadequatefinancing.Actually,poor financingusuallyindicatesotherproblemssuchasmanagerialincompetence,poor investments,andpoorplanning.Athirdmythsaysthatentrepreneursareeither inventorsorinnovators.Whilemanyinventorsandinnovatorsareentrepreneurs, manyentrepreneursexcelatotherprofit-seekingactivities.Afinalmythisthatall youneedisluck.“Luckhappenswhenpreparationmeetsopportunity”meansthat beingpreparedforsituationscanleadtosuccesswhenthetimeisright. 102.CHAPTER 1: ENTREPRENEURSHIP: EVOLUTIONARY DEVELOPMENT- REVOLUT102Listandcategorizetheschoolsofentrepreneurialthought. CorrectAnswer: Theschoolsofentrepreneurialthoughtcanbegroupedintotwomajorheadings, macroandmicro.Themacroviewofentrepreneurshippresentsabroadarrayof factors.Theseincludeexternalfactors,whichsometimescannotbecontrolled.Inthe macroview,theenvironmentalschoolofthoughtdealswithexternalfactorsthat affectthepossiblelifestyleoftheentrepreneur.Alsoundermacro,the financial/capitalschoollooksforseedandgrowthcapitaltodeveloptheentrepreneur. Thedisplacementschoolisthefinalmacroview.Itholdsthatthegroupaffectsor eliminatescertainfactorsthatprojecttheindividualintoanentrepreneurialventure. Themicroviewexaminesfactorsspecifictoentrepreneurshipandpartofthe “internal”locusofcontrol.Theentrepreneurialtraitschoolsaysthatsuccessful entrepreneursusuallyexhibitsimilarcharacteristics.Theventureopportunityschool focusesonopportunitiesindirectionsotherthanwheretheentrepreneurispresently headed.Thefinalschool,thestrategicformulationschool,emphasizestheplanning processinsuccessfulventuredevelopment. 103.CHAPTER 1: ENTREPRENEURSHIP: EVOLUTIONARY DEVELOPMENT- REVOLUT103Tracetheevolutionofentrepreneurship,listthemenwho wroteaboutit,anddescribeitsimpactoneconomicdevelopment.Entrepreneurship,Kuratko-Completetestbank CorrectAnswer: EntrepreneurshipwasfirstrecognizedbyRichardCantillonineighteenth-century France.Hedescribedanentrepreneurassomeonewhobearstherisksofbusiness. Duringthesametimeperiod,theIndustrialRevolutionwastakingforminEngland, andtheentrepreneurwasseentakingrisksandtransformingresourcesintoproducts. Entrepreneurshiphaslongbeenassociatedwitheconomicdevelopment.Many definitionsofentrepreneurshippriorto1950camefromeconomistssuchas Cantillon,JeanBaptisteSay(1803),andJosephSchumpeter(1934).Inthetwentieth century,entrepreneurshiphasbeenassociatedwithfreeenterpriseandcapitalism. Entrepreneursgenerallyareseenaspeoplewhoprovidecreativeandinnovative ideasforbusinessesandhelpthemgrowandbecomeprofitable.Now, entrepreneurshipisregardedas“pioneership”onthefrontierofbusiness. 104.CHAPTER1:ENTREPRENEURSHIP:EVOLUTIONARYDEVELOPMENT-REVOLUT104 Provideacomprehensivedefinitionofentrepreneurship. CorrectAnswer: Entrepreneurshipisthedynamicprocessofcreatingincrementalwealth.Thiswealth iscreatedbyindividualswhoassumethemajorrisksintermsofequity,time,and/or careercommitmentofprovidingvalueforsomeproductorservice.Theproductor serviceitselfmayormaynotbeneworuniquebutvaluemustsomehowbeinfused bytheentrepreneurbysecuringandallocatingthenecessaryskillsandresources. OR Entrepreneurshipisabilitytocreateandbuildavisionfrompracticallynothing: fundamentallyitisahuman,creativeact.Itistheapplicationofenergytoinitiating andbuildinganenterpriseororganization,ratherthanjustwatchingoranalyzing. Thisvisionrequiresawillingnesstotakecalculatedrisks—bothpersonalandfinancial —andthentodoeverythingpossibletoreducethechancesoffailure. Entrepreneurshipalsoincludestheabilitytobuildanentrepreneurialorventureteam tocomplementyourownskillsandtalents.Itistheknackforsensinganopportunity whereothersseechaos,contradiction,andconfusion.Itispossessingtheknow-how tofind,marshal,andcontrolresources(oftenownedbyothers). 105.CHAPTER2:THEENTREPRENEURIALMINDSETININDIVIDUALSQuestionT Eachandeverypersonhasthepotentialandfreechoicetopursuea careerasanentrepreneur. *a.True b.False 106.CHAPTER2:THEENTREPRENEURIALMINDSETININDIVIDUALSQuestion2 Thegenerationofthe21stcenturymaybecomeknownasgenerationE becausetheyarebecomingthemostentrepreneurialgenerationsincethe IndustrialRevolution. *a.True b.False 107.CHAPTER2:THEENTREPRENEURIALMINDSETININDIVIDUALSQuestion3 Determiningaperson’s“entrepreneurialperspective”isanexactEntrepreneurship,Kuratko-Completetestbank science. a.True *b.False 108.CHAPTER2:THEENTREPRENEURIALMINDSETININDIVIDUALSQuestion4 Entrepreneursarepessimistswhoseethecuphalfempty,ratherthan halffull. a.True *b.False 109.CHAPTER2:THEENTREPRENEURIALMINDSETININDIVIDUALSQuestion5 TheAcademyofManagementReviewisanexampleofajournalusedin entrepreneurialresearch. *a.True b.False 110.CHAPTER2:THEENTREPRENEURIALMINDSETININDIVIDUALSQuestion6 Governmentpublicationsareusedinresearchingsmallbusiness. *a.True b.False 111.CHAPTER2:THEENTREPRENEURIALMINDSETININDIVIDUALSQuestion7 Inexperienceandincompetentmanagementarethemainreasonsfor failure. *a.True b.False 112.CHAPTER2:THEENTREPRENEURIALMINDSETININDIVIDUALSQuestion8 Goodentrepreneursseekfeedbackfromothers. *a.True b.False 113.CHAPTER2:THEENTREPRENEURIALMINDSETININDIVIDUALSQuestion9 Agoodtraitforanentrepreneuristobeacalculatedrisktaker. *a.True b.False 114.CHAPTER2:THEENTREPRENEURIALMINDSETININDIVIDUALSQuestion10 Mostsuccessfulentrepreneurshavefailedatonetimeoranother.Entrepreneurship,Kuratko-Completetestbank *a.True b.False 115.CHAPTER2:THEENTREPRENEURIALMINDSETININDIVIDUALSQuestion11 Entrepreneursdonotneedforesight. a.True *b.False 116.CHAPTER2:THEENTREPRENEURIALMINDSETININDIVIDUALSQuestion12 Entrepreneurstypicallyhaveenoughconfidencetobelievethattheycan makeadifferenceinthefinaloutcomeoftheirventures. *a.True b.False 117.CHAPTER2:THEENTREPRENEURIALMINDSETININDIVIDUALSQuestion13 Publications,directobservation,speechesandpresentationsareall majorsourcesofinformationthatsupplydatarelatedtothe entrepreneurialperspective. *a.True b.False 118.CHAPTER2:THEENTREPRENEURIALMINDSETININDIVIDUALSQuestion14 Therearelessthanfivetypesofprintedresearchresourcesavailable onentrepreneurcharacteristics. a.True *b.False 119.CHAPTER2:THEENTREPRENEURIALMINDSETININDIVIDUALSQuestion15 Commitment,determination,andperseverancearetheonly characteristicsoneneedstobecomeasuccessfulentrepreneur. a.True *b.False 120.CHAPTER2:THEENTREPRENEURIALMINDSETININDIVIDUALSQuestion16 Creativitywasonceregardedasanexclusivelyinheritedtrait. *a.True b.False 121.CHAPTER2:THEENTREPRENEURIALMINDSETININDIVIDUALSQuestion17 Selfishnessandaneedforpoweraretwocharacteristicscommonin entrepreneurs.Entrepreneurship,Kuratko-Completetestbank a.True *b.False 122.CHAPTER2:THEENTREPRENEURIALMINDSETININDIVIDUALSQuestion18 Successfulentrepreneursfearfailurethesamewayallpeopledo. a.True *b.False 123.CHAPTER2:THEENTREPRENEURIALMINDSETININDIVIDUALSQuestion19 Entrepreneursarefiercelyindependentbutunderstandtheneedfora strongentrepreneurialteam. *a.True b.False 124.CHAPTER2:THEENTREPRENEURIALMINDSETININDIVIDUALSQuestion20 Entrepreneursusuallyhaveaninternallocusofcontrol. *a.True b.False 125.CHAPTER2:THEENTREPRENEURIALMINDSETININDIVIDUALSQuestion21 Therearemanyrisksinentrepreneurship. *a.True b.False 126.CHAPTER2:THEENTREPRENEURIALMINDSETININDIVIDUALSQuestion22 Thereisacertainpsychicriskinvolvedwithentrepreneurship. *a.True b.False 127.CHAPTER2:THEENTREPRENEURIALMINDSETININDIVIDUALSQuestion23 Therearefourcausesofentrepreneurialstress. *a.True b.False 128.CHAPTER2:THEENTREPRENEURIALMINDSETININDIVIDUALSQuestion24 Immersioninbusinesscanbecuredbylimitingworktoaneighthour day. a.True *b.FalseEntrepreneurship,Kuratko-Completetestbank 129.CHAPTER 2: THE ENTREPRENEURIAL MINDSET IN INDIVIDUALS Question25Theneedtoachievecanbeasourceofstressfor entrepreneurs. *a.True b.False 130.CHAPTER 2: THE ENTREPRENEURIAL MINDSET IN INDIVIDUALS Question26Stressontheentrepreneurcanbecausedbothinternally andbyotherpeople. *a.True b.False 131.CHAPTER2:THEENTREPRENEURIALMINDSETININDIVIDUALSQuestion27 Theentrepreneurisdrivenbyastrongdesireforcontrolovertheir venture. *a.True b.False 132.CHAPTER2:THEENTREPRENEURIALMINDSETININDIVIDUALSQuestion28 The“darkside”ofentrepreneurshipreferstothestressthat entrepreneur’sexperience. a.True *b.False 133.CHAPTER2:THEENTREPRENEURIALMINDSETININDIVIDUALSQuestion29 Entrepreneursalwaysknowthattheyasindividualsmustremainless importantthantheventure. a.True *b.False 134.CHAPTER2:THEENTREPRENEURIALMINDSETININDIVIDUALSQuestion30 Entrepreneursliketoremainalerttocompetition,customers,and governmentregulations,butthiscontinualscanningoftheenvironment canleadtoanegativesenseofdistrust. *a.True b.False 135.CHAPTER2:THEENTREPRENEURIALMINDSETININDIVIDUALSQuestion31 Entrepreneursareoftenunrealisticallyoptimistic. *a.True b.FalseEntrepreneurship,Kuratko-Completetestbank 136.CHAPTER2:THEENTREPRENEURIALMINDSETININDIVIDUALSQuestion32 LannyHarronandHarrySapienzastated,“Becausemotivationplaysan importantpartinthecreationofneworganizations,theoriesof organizationcreationthatfailtoaddressthisnotionareincomplete.” *a.True b.False 137.CHAPTER2:THEENTREPRENEURIALMINDSETININDIVIDUALSQuestion33 AccordingtotheModelofEntrepreneurshipMotivation,the entrepreneur’sexpectationsarenotcomparedwiththeactualor perceivedoutcomesofthefirm. a.True *b.False 138.CHAPTER2:THEENTREPRENEURIALMINDSETININDIVIDUALSQuestionM Everypersonhastheandtopursueacareerasanentrepreneur a.stubbornness;stupidity *b.potential;freechoice c.rights;regulations d.obligation;duty 139.CHAPTER2:THEENTREPRENEURIALMINDSETININDIVIDUALSQuestion34 Sourcesofinformationavailabletoentrepreneursinclude *a.journals. b.moonlightinginanotherjob. c.casualconversation. d.attendingcivicevents. 140.CHAPTER2:THEENTREPRENEURIALMINDSETININDIVIDUALSQuestion35 Entrepreneurs *a.aredrivenbyintensecommitmentandperseverance. b.areegomaniacs. c.lonerswhoneverfitintotypicalfirms. d.areneversatisfied. 141.CHAPTER2:THEENTREPRENEURIALMINDSETININDIVIDUALSQuestion36 Whichsourceofinformationaboutentrepreneurialcharacteristicsisdirect observation? a.Biographiesandentrepreneurs *b.Empiricalresearch c.Booksaboutentrepreneurs d.TelevisionbiographiesEntrepreneurship,Kuratko-Completetestbank 142.CHAPTER2:THEENTREPRENEURIALMINDSETININDIVIDUALSQuestion37 Whichisnotasourceofentrepreneurshipresearch? a.textbooks b.biographies c.conferences *d.watercoolerconversation 143.CHAPTER2:THEENTREPRENEURIALMINDSETININDIVIDUALSQuestion38 Biographies,journals,andperiodicalsareexamplesofwhatresearchsource? a.directobservations *b.publications c.presentations d.primaryresearch 144.CHAPTER2:THEENTREPRENEURIALMINDSETININDIVIDUALSQuestion39 CharacteristicsoftenattributedtotheEntrepreneurinclude: *a.Commitment,determination,andperseverance b.Preferstobealoner c.Powerhungry d.Abilitytobeindecisive 145.CHAPTER2:THEENTREPRENEURIALMINDSETININDIVIDUALSQuestion40 Whichisnotatraitofasuccessfulentrepreneur? a.desiretoachieve b.initiative c.innovation *d.troublefittingin 146.CHAPTER2:THEENTREPRENEURIALMINDSETININDIVIDUALSQuestion41 Entrepreneurswithadrivetoachievewantto *a.compete. b.watchotherssucceed. c.takegreatrisks. d.controlanddominate. 147.CHAPTER2:THEENTREPRENEURIALMINDSETININDIVIDUALSQuestion42 Whichofthefollowingisnotatraitofsuccessfulentrepreneurs? a.initiative *b.frustration c.perseverance d.strategicthinkingEntrepreneurship,Kuratko-Completetestbank 148.CHAPTER2:THEENTREPRENEURIALMINDSETININDIVIDUALSQuestion43 Withpersistentproblemsolving,entrepreneurs a.mustdaydreamallday. b.can’tmulti-task. *c.thinkanythingispossible. d.arealwaysworking. 149.CHAPTER2:THEENTREPRENEURIALMINDSETININDIVIDUALSQuestion44 Onecouldcorrelatewithahighenergylevel. *a.creativity b.working c.luck d.reading 150.CHAPTER2:THEENTREPRENEURIALMINDSETININDIVIDUALSQuestion45 Forentrepreneurs,visiondescribes *a.wheretheentrepreneurwantstogo. b.eyesight. c.people. d.thefuture. 151.CHAPTER2:THEENTREPRENEURIALMINDSETININDIVIDUALSQuestion46 Teambuilding *a.involvesincludingqualifiedpeopleintheventure. b.doesnotthreatentheentrepreneur’sautonomy. c.doesnothing. d.isoverrated. 152.CHAPTER2:THEENTREPRENEURIALMINDSETININDIVIDUALSQuestion47 Aclearpatternamongsuccessfulentrepreneursis a.settinggoalsthatarejustoutofreach. b.thefearoffailurecommontoallpeople. *c.theirfocusonopportunityratherthanresources. d.notfittingintotraditionalorganizations. 153.CHAPTER2:THEENTREPRENEURIALMINDSETININDIVIDUALSQuestion48 Whichofthefollowingisafalsestatementaboutentrepreneurs? a.Theyburnwiththecompetitivedesiretoexcel. b.Theyseethecuphalffullratherthanhalfempty. *c.Theydonotusefailureasatoolforlearning. d.Theyareachievers.