MAN 2150 CH 6 ENTRE NEW BOOK PRETEST

11. ________ is the pursuit of lucrative opportunities by enterprising individuals under conditions of uncertainty.

• Incubation
• Sugging
• bootlegging
• Entrepreneurship

12. ________ is the process by which enterprising individuals initiate, manage, and assume the risks and rewards associated with a business.

• Entrepreneurship
• A partnership
• A start-up
• An incubator

13. ________ is an enterprise having fewer than 100 employees, independently owned and operated, not dominant in its field, and not characterized by many innovative practices.

• An entrepreneurial venture
• A small business
• An incubator
• A nonprofit organization

14. A(n) ________ is a new business having growth and high profitability as primary objectives.

• greenfield venture
• entrepreneurial venture
• junior enterprise
• merger

15. When working for a software company, David created a new venture based solely on his idea while using his company's proprietary technology. David can be described as a(n)

• venture capitalist.
• angel investor.
• intrapreneur.
• quasi partner.

16. ________ are new venture creators working inside big companies; they are corporate entrepreneurs, using their company's resources to build a profitable line of business based on a fresh new idea.

• Sole proprietors
• Licensees
• Management novices
• Intrapreneurs

17. Which of the following statements is true of entrepreneurship?

• Entrepreneurs are their own bosses and independent.
• Entrepreneurs take careful, calculated risks and are not afraid to act on those decisions.
• If an entrepreneur is talented, he or she will quickly succeed.
• Entrepreneurs "get rich quick" and enjoy a lot of leisure time.

18. Identify the correct statement regarding entrepreneurship.

• Entrepreneurs are their own bosses and independent.
• Entrepreneurs seek power and control over others.
• If an entrepreneur is talented, he or she will quickly succeed.
• Entrepreneurs experience stress, but they also have high job satisfaction.

19. Edgar was a manager at a company that produced household appliances. He had many innovative ideas to increase profits. However, his ideas were not received well by the company. So, he left the company to pursue his own business. His new business is known as a(n)

• spin-off.
• franchise
• angel investment.
• entrepreneurial venture.

20. Harriet recently started her own business. She has nearly recreated a company she worked for previously. She has great business acumen and has been able to run her business much more efficiently and profitably. Harriet is a(n)

• manager.
• promoter.
• entrepreneur.
• intrapreneur.