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Exam Entrep
Exam Entrep
An entrepreneur is someone who assumes the major risks of a new business by committing
which of the following?
a. equity.
b. time.
c. career.
13-2. An informal group of innovative employees who are permitted to digress temporarily from
their regular tasks to develop new ideas are referred to as:
a. underground.
b. skunkworks.
c. yahoos.
d. intrapreneurs.
13-3. It is estimated that approximately _____ percent of small businesses fail within the first five
years.
a. 10.
b. 25.
c. 50.
d. 75.
a. self-confident.
b. independent-minded.
c. perceptive.
d. follower.
13-5. The period of business when an entrepreneur must position the venture in a market and make
necessary adjustments to assure survival is called the:
a. pre-startup stage.
b. startup stage.
b. increased independence.
13-8. According to the textbook, which of the following management functions is the least well
done?
a. planning.
b. organizing.
c. leading.
d. controlling.
13-10. Which of the following are risks for entrepreneurs in small business?
b. psychological stress.
13-11. A strategy of courting other companies that have knowledge, ideas or promising products is
known as which type of intrapreneurship?
a. administrative intrapreneurship.
b. opportunistic intrapreneurship.
c. acquisitive intrapreneurship.
d. imitative intrapreneurship.
13-12. A person within a company who takes a leadership role and is positioned to help ensure the
success of an idea or innovation is often referred to as a:
a. supporter.
b. champion.
c. leader.
d. evangelist.
The question was not answered. The correct answer is "b".
a. to attract financing.
d. a & c.
13-14. Who said that the job of the entrepreneur is "creative destruction"?
a. Peter Drucker.
b. Pierre Trudeau.
c. Joseph Schumpeter.
d. Brian Mulroney.
b. snowmobile.
d. post-it note.
The question was not answered. The correct answer is "d".