Entrepreneurship Final

In the context of the entrepreneurial decision process, what does "Harvesting" refer to?

• The stage where the entrepreneur seeks initial funding

• The stage where the entrepreneur identifies and acquires resources

• The stage where the entrepreneur decides the future growth or exit strategy of the business

• The stage where the entrepreneur develops the business concept

Which of the following statements about entrepreneurial traits is most accurate?

• Entrepreneurs avoid risks to ensure business stability.

• Entrepreneurs are often characterized by their focus on innovative and unique solutions.

• Entrepreneurs typically prefer working in established corporate settings.

• Entrepreneurs rarely need to persuade others to support their ideas.

How does entrepreneurship contribute to the equitable redistribution of wealth?

• By creating monopolies that control market prices

• By limiting employment opportunities to specific regions

• By stimulating economic activities that generate income across different sectors and geographic areas

• By focusing solely on highincome markets

Which ethical issue is most relevant for entrepreneurs dealing with intellectual property?

• Ensuring workplace safety

• Handling conflicts of interest

• Respecting copyright, patent, and trademark laws

• Maintaining transparency in financial reporting

What distinguishes an intrapreneur from an entrepreneur in a corporate setting?

• Intrapreneurs work within the existing structure of a company, while entrepreneurs start their own businesses.
• Intrapreneurs have less autonomy than entrepreneurs in decision-making.
• Intrapreneurs focus on long-term projects, while entrepreneurs focus on short-term goals.
• Intrapreneurs work independently, while entrepreneurs work in teams.

Which step in the entrepreneurial process involves the entrepreneur operating the business and utilizing resources to achieve goals?

• Execution
• Marketing
• Innovation
• Planning

Which of the following best exemplifies the role of an entrepreneur in reducing regional economic disparities?

• Opening luxury stores in affluent areas
• Ignoring local businesses and focusing on international markets
• Supporting only well-established companies in urban centers
• Creating job opportunities, investing in local businesses, and promoting economic growth in underdeveloped areas

What is a primary reason for the increased focus on corporate social responsibility (CSR) in entrepreneurship?

• Decreased demand for ethical business practices
• Lack of interest from consumers, investors, and stakeholders
• Growing awareness and demand from consumers, investors, and stakeholders for ethical business practices.
• Minimal impact of CSR on business success

According to Kaplan, what does a business plan represent?

• A visual representation of the company's logo
• A written document describing how a business will achieve its goals.
• A collection of employee testimonials
• A detailed history of the industry

Which of the following best describes the scope of a business plan?

• The extent of the financial investment required

• The extent of the financial investment required

• The target readers, including employees, investors, and advisors, each with distinct concerns

• The geographical location of the business operations