Chap007 - Chapter 07 - Entrepreneurship Chapter 07...

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Chapter 07 - Entrepreneurship Chapter 07 Entrepreneurship True / False Questions 1. (p. 247) "Second Life" is a website devoted to helping people decide about retirement. FALSE AACSB: Other management-specific knowledge/abilities Blooms taxonomy: Knowledge Difficulty: Easy Learning Objective: All 2. (p. 248) Lashanda Jenkins independently owns and operates Kites Etc., a small business with 45 employees. She tends not to manage particularly aggressively and expects normal, moderate sales, profits and growth. Lashanda's business would be considered an entrepreneurial venture. FALSE AACSB: Other management-specific knowledge/abilities Blooms taxonomy: Application Difficulty: Medium Learning Objective: 1 3. (p. 248) There is a difference between a small business and an entrepreneurship venture. TRUE AACSB: Other management-specific knowledge/abilities Blooms taxonomy: Comprehension Difficulty: Easy Learning Objective: 1 7-1
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Chapter 07 - Entrepreneurship 4. (p. 248) Managers like to engage in high risk and high paced situations, while entrepreneurs like the slow paced, low risk ones. FALSE AACSB: Group/individual dynamics Blooms taxonomy: Comprehension Difficulty: Medium Learning Objective: 1 5. (p. 248) A small business is often defined as having fewer than 100 employees, as well as being independently owned and operated. TRUE AACSB: Other management-specific knowledge/abilities Blooms taxonomy: Knowledge Difficulty: Easy Learning Objective: 1 6. (p. 249) Entrepreneurs are essentially gamblers. TRUE AACSB: Group/individual dynamics Blooms taxonomy: Comprehension Difficulty: Medium Learning Objective: 1 7. (p. 250) Corporate managers who create new independent businesses with assets purchased from the corporation are called intrapreneurs. FALSE AACSB: Other management-specific knowledge/abilities Blooms taxonomy: Knowledge Difficulty: Easy Learning Objective: 1 7-2
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8. (p. 253) Observers say that in contemplating your business, you must start with a great idea. TRUE AACSB: Other management-specific knowledge/abilities Blooms taxonomy: Comprehension Difficulty: Easy Learning Objective: 1 9. (p. 255) Entrepreneurs spot, create and exploit opportunities. TRUE AACSB: Other management-specific knowledge/abilities Blooms taxonomy: Knowledge Difficulty: Easy Learning Objective: 2 10. (p. 256) A franchisor is an innovator who has created at least one successful store and seeks partners to operate the same concept in other local markets. TRUE AACSB: Other management-specific knowledge/abilities Blooms taxonomy: Knowledge Difficulty: Easy Learning Objective: 2 11. (p. 256) Natural disasters can provide an attractive opportunity for entrepreneurs. TRUE
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Chap007 - Chapter 07 - Entrepreneurship Chapter 07...

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