Chapter 6: Entrepreneurship and Starting a Small Business

Accepting the risk of starting and running a business defines

• an intrapreneurship

• a manager

• an entrepreneurship

• a CEO

Entrepreneurships are primarily funded by

• banks and loans

• personal savings and family investments

• the Small Business Administration

• venture capitalists

Why are entrepreneurs willing to take the risk? (Select ALL that apply)

• opportunity

• profit

• independence

• more employee benefits

Which are NOT qualities of an entrepreneur?

• self-directed

• want a balanced life style

• action-oriented

• unwilling to take risk

A group of experienced people from different areas of business who join to form a managerial team with the skills to develop, make, and market a new product defines

• a micropreneur

• a committee

• an entrepreneurial team

• stockholders

Why would a team be preferred over an individual entrepreneur?

• team members can combine creative skills with production and marketing skills right from the start

• teams work harder and are smarter than an individual

• teams can have disagreements and low cooperation which lead to a delay in work

• team members can work effectively and faster leading to more efficient work

Creative people who work as entrepreneurs within corporations are

• CEOs

• micropreneurs

• entrepreneurs

• intrapreneurs

Someone interested in maintaining a balanced life style while doing the kind of work they want to do defines a(n)

• micropreneur

• intrapreneur

• venture capitalist

• entrepreneur

Reasons for the growth of home-based businesses include:

• improved technology

• corporate downsizing

• change in social attitudes

• new tax laws that deduct expenses for home offices

What are some of the challenges that home-based businesses have? (Select ALL that apply)

• Getting new customers

• Managing time

• working with a large number of employees

• Keeping work and family tasks separate