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Launching New Ventures An Entrepreneurial Approach 7th Edition Allen Test Bank

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  Cengage Learning Testing, Powered by Cognero  Page 1 True / False   1. Entrepreneurship is a personal journey that begins in the mind of the nascent entrepreneur.   a. True    b. False    NSWER: True    POINTS: 1    REFERENCES: Preparing for the Entrepreneurial Journey, Intro   2. Research has enabled us to identify the characteristics of the typical entrepreneur. .   a. True    b. False    NSWER: False    POINTS: 1    REFERENCES: 2.1 Saying Goodbye to Stereotypes   3. The chances of success for a new business startup are determined primarily by the size of the initial financial investment.   a. True    b. False    NSWER: False    POINTS: 1    REFERENCES: 2.1 Saying Goodbye to Stereotypes   4. In an entrepreneurial endeavor, risk is correlated with reward; that is, the greater the risk taken, the greater the reward expected.   a. True    b. False    NSWER: False    POINTS: 1    REFERENCES: 2.1 Saying Goodbye to Stereotypes   5. Research has determined that effective and efficient business planning correlates with business success.   a. True    b. False    NSWER: False    POINTS: 1    REFERENCES: 2.1 Saying Goodbye to Stereotypes   6. Entrepreneurship is for those under 30, not for older persons.   a. True    b. False    NSWER: False    POINTS: 1    REFERENCES: 2.1 Saying Goodbye to Stereotypes   7. The most important element for success is abundant start-up capital.   Launching New Ventures An Entrepreneurial Approach 7th Edition Allen Test Bank Full Download: http://testbanklive.com/download/launching-new-ventures-an-entrepreneurial-approach-7th-edition-allen-test-ban Full download all chapters instantly please go to Solutions Manual, Test Bank site: TestBankLive.com  Cengage Learning Testing, Powered by Cognero  Page 2 a. True    b. False    NSWER: False    POINTS: 1    REFERENCES: 2.1 Saying Goodbye to Stereotypes   8. Today many enterprising people are turning to nonprofit ventures to realize their entrepreneurial dreams.   a. True    b. False    NSWER: True    POINTS: 1    REFERENCES: 2.2 Paths to Entrepreneurship   9. Home-based businesses do not qualify as “entrepreneurship.”   a. True    b. False    NSWER: False    POINTS: 1    REFERENCES: 2.2 Paths to Entrepreneurship   10. One of the biggest problems that scientists and engineers face when they decide to consider entrepreneurship is the expectation that there should be formulas and straightforward "right or wrong" answers.   a. True    b. False    NSWER: True    POINTS: 1    REFERENCES: 2.3 The Challenges and Opportunities of Entrepreneurship   Multiple Choice   11. All of entrepreneurship can be reduced to:   a. wealth    b. independence   c. growth   d. people   e. partnership    NSWER: d    POINTS: 1    REFERENCES: Preparing for the Entrepreneurial Journey, Intro   12. What’s  more important than start-up capital is:   a. size of the team    b. size of the market   c. amount of startup capital   d. the amount of all resources   e. desire for independence    NSWER: d    Cengage Learning Testing, Powered by Cognero  Page 3  POINTS: 1    REFERENCES: 2.1 Saying Goodbye to Stereotypes   13. Most of the great businesses that have been successful for at least 50 years (companies such as Walt Disney, Sony, and Merck) did not   start with a/an:   a. lot of money    b. need for independence   c. great idea   d. great team   e. srcinal idea    NSWER: c    POINTS: 1    REFERENCES: 2.1 Saying Goodbye to Stereotypes   14. The goal of most entrepreneurs is to reduce the level of ____ in any venture.   a. investment    b. independence   c. planning   d. risk    e. resources    NSWER: d    POINTS: 1    REFERENCES: 2.1 Saying Goodbye to Stereotypes   15. In general, venture capitalists say that they will take a ____ and a large market opportunity in a fast-growing area over a great idea any day   a. big risk     b. strong business plan   c. passionate entrepreneur    d. strong leader    e. great team    NSWER: e    POINTS: 1    REFERENCES: 2.1 Saying Goodbye to Stereotypes   16. The  Kauffman Index of Entrepreneurial Activity  from 1996-2011 found that men and women in the ____ age bracket were responsible for more than 20% of all the entrepreneurial activity in the United States.   a. 25-45    b. 25-55   c. 18-43   d. 55-64   e. 65-98    NSWER: d    POINTS: 1    REFERENCES: 2.1 Saying Goodbye to Stereotypes   17. Peter Drucker asserted, "The entrepreneurial mystique, it's not magic, it's not mysterious, and it has nothing to do with  Cengage Learning Testing, Powered by Cognero  Page 4 the genes. It is ____."   a. having enough money    b. a great idea   c. a great network    d. discipline   e. the need for independence    NSWER: d    POINTS: 1    REFERENCES: 2.1 Saying Goodbye to Stereotypes   18. In the United States, ____ entrepreneurship is most prevalent.   a. opportunity-driven    b. efficiency-driven   c. factor-driven   d. necessity-driven   e. passion-driven    NSWER: d    POINTS: 1    REFERENCES: 2.2 Paths to Entrepreneurship   19. ____ comprise over fifty percent of all small businesses in the United States.   a. Startups    b. Home-based businesses   c. Nonprofit businesses   d. Serial entrepreneurs   e. Corporate entrepreneurs    NSWER:  b    POINTS: 1    REFERENCES: 2.2 Paths to Entrepreneurship   20. An entrepreneur who owns a minority or majority stake in several ventures is called a ____ entrepreneur.   a. portfolio    b. traditional   c. serial   d. nonprofit   e. None of these choices    NSWER: a    POINTS: 1    REFERENCES: 2.2 Paths to Entrepreneurship   21. An entrepreneur who starts one business and then moves on to start another is classified as a ____ entrepreneur.   a. portfolio    b. traditional   c. serial   d. nonprofit   e. None of these choices    Cengage Learning Testing, Powered by Cognero  Page 5  NSWER: c    POINTS: 1    REFERENCES: 2.2 Paths to Entrepreneurship   22. An entrepreneur may form a nonprofit venture for achieving goals associated with:   a. Education    b. Religion   c. Charitable   d. Any or all of these choices.   e. None of these choices.    NSWER: d    POINTS: 1    REFERENCES: 2.2 Paths to Entrepreneurship   23. Robert Chambers used the ____ organizational structure as a vehicle to help low-income people make better  purchasing decisions when it came to cars.   a. new venture    b. socially responsible   c. startup   d. corporate   e. nonprofit    NSWER: e    POINTS: 1    REFERENCES: 2.2 Paths to Entrepreneurship   24. Entrepreneurial-like ventures inside large companies may be formed using:   a. Opportunistic models    b. Enabler models   c. Advocate models   d. Producer models   e. All of these choices.    NSWER: d    POINTS: 1    REFERENCES: 2.2 Paths to Entrepreneurship   25. As relevant in corporate entrepreneurships as in independent ones are:   a. Recognizing opportunities    b. Conducting feasibility analyses   c. Developing execution plans   d. All of these choices   e. None of these choices    NSWER: d    POINTS: 1    REFERENCES: 2.2 Paths to Entrepreneurship   26. A very helpful exchange of information and resources can be gained from groups or organizations who form a:  
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