New Ent. Chapter 1

Compared to willing entrepreneurs, “reluctant” entrepreneurs:

• a. are more likely to be successful in starting a business.

• b. are less likely to be successful in starting a business.

• c. have the same success rates.

• d. are more likely to abandon the process of starting a business.

Writing a Business Plan is largely a process of:

• a. step-by-step construction.

• b. revision and rewriting.

• c. getting others to write the plan.

• d. finding the right format.

Entrepreneurship is best defined as:

• a. gambling.

• b. risking money to make profit.

• c. innovation.

• d. the management of people.

"Junk research":

• a. is based on flawed logic or poor scientific method.

• b. is research conducted by non-academics.

• c. is totally valid, even though it is not recognized by the research community.

• d. is the rigorous study of entrepreneurs.

Entrepreneurs in Canada tend to work:

• a. fewer hours than employed people.

• b. about the same number of hours as employed people.

• c. more hours than employed people.

• d. there is no information on who works more hours.

The skills and traits that employers are looking for and the skills and traits needed to own a business are virtually identical.

• True

• False

The definition of a business may change a number of times during the writing of a business plan.

• True

• False