Entrepreneur Class Test

Ewing Kauffman took a risk when he started his company Marion Labs in 1950

• True

• False

(p. 5) How Ewing Kauffman ran his business illustrates corporate entrepreneurship. 

• True

• False

(p. 6) The four basic aspects of being an entrepreneur are creation, motivation, delegation and risk-taking. 

• True

• False

 (p. 6) The term entrepreneur means different things to different people. 

• True

• False

(p. 6) The key element found in all definitions of entrepreneurship is risk taking. 

• True

• False

(p. 8) Technical people are often the best source for entrepreneurs for identifying new business opportunities due to their expert knowledge. 

• True

• False

(p. 8) The market size and the length of the window of opportunity are the primary bases for determining risks and rewards. 

• True

• False

(p. 8) Entrepreneurs can develop an internal desire for any venture. 

• True

• False

(p. 10) Entrepreneurs must often make decisions in highly uncertain environments where there is considerable emotional investment. 

• True

• False

(p. 11) Demographics, ethnic origin, and marital status are examples of segmentation variables. 

• True

• False