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SiteTitle: Entrepreneurship:SuccessfullyLaunchingNewVentures,4/e
BookTitle: Entrepreneurship:SuccessfullyLaunchingNewVentures,4/e
BookAuthor: Barringer
LocationonSite: Chapter1>ChapterQuiz
Date/TimeSubmitted: March19,2016at11:34PM(UTC/GMT)

1.

SummaryofResults
95%Correctof20Scoreditems:
19Correct:

95%

1Incorrect: 5%
2questionsnotscored.20scoredquestions.
Moreinformationaboutscoring

EntrepreneurialbehaviortypicallyrequiresallofthefollowingEXCEPT:
YourAnswer: inventionofsomethingnew.

2.

_____isthepositionofafirmonacontinuumrangingfromhighlyconservativetohighlyentrepreneurial.
YourAnswer: Entrepreneurialintensity

3.

Whatisthemostcommonreasongivenforwhypeoplechoosetobecomeentrepreneurs?
YourAnswer: Tobetheirownboss.

4.

Someentrepreneursreportthatthefinancialrewardsassociatedwithentrepreneurshipcanbebittersweetiftheyare
accompaniedby________.
YourAnswer: losingcontrolofthefirm

5.

AllofthefollowingarecharacteristicssharedbysuccessfulentrepreneursEXCEPT:

YourAnswer: riskaverse.

6.

WhichofthefollowingisNOTacommonmythaboutentrepreneurs?
YourAnswer: Everyonehasthepotentialtobeanentrepreneur.

7.

Whatdoyoucallsmallfirmsthatyieldalevelofincomefortheirownerthatissimilartowhattheywouldearnwhen
workingforanemployer?
YourAnswer: salarysubstitutefirm

8.

_____ofthe27.5millionbusinessesintheUnitesStatesareownedbywomen,minorities,seniors,andyoungpeople.
YourAnswer: Agrowingnumber

9.

Influenceoninnovationandjobcreationbesttypifiesentrepreneurialfirms'________.
YourAnswer: economicimpact

10.

TheentrepreneurialprocessiscomprisedofeachofthefollowingstepsEXCEPT:
YourAnswer: inventinganewproductorprocess.

11.

IntheUnitedStates,approximatelyonethirdofnewfirmsfailwithintheirfirstfouryears.

YourAnswer: True

12.

Entrepreneurandinventormeanessentiallythesamething.
YourAnswer: False

13.

Entrepreneurshiponlypertainstostartingnewbusinesses,notexistingfirms.
YourAnswer: False

14.

TheaverageentrepreneurdoesNOTmakemoremoneythansomeonewithasimilaramountofresponsibilityina
traditionaljob.
YourAnswer: False
CorrectAnswer: True

Seep.9formoreinformation.

15.

Thenumberonecharacteristicsharedbysuccessfulentrepreneursiscreativity.
YourAnswer: False

16.

Executionintelligencereferstodevelopingabusinessmodel,puttingtogetheranewventureteam,raisingmoney,
establishingpartnerships,managingfinancesandleadingandmotivatingemployees.
YourAnswer: True

17.

Accordingtoresearch,mostentrepreneursareborn,notmade.
YourAnswer: False

18.

Onlyindividualsthatthriveontakingbigriskshavetherightpersonalitytobeanentrepreneur.
YourAnswer: False

19.

AfterwinningamedalfordivingintheOlympics,Cherylstartsadivinginstructionschool.Thisisanexampleofalifestyle
firm.
YourAnswer: True

20.

Inrecentyears,thefastestgrowingareasforwomenownedfirmshavebeenincosmetology,fashionmerchandising,and
hairsalons.
YourAnswer: False

21.

Discusentrepreneurship'simportancetotheeconomyandsocietyasawhole:
YourAnswer:
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22.

Whatarethestepsoftheentrepreneurialprocess?
YourAnswer:
(blank)