Entrepreneurship Term 2520

Entrepreneurship is the art of turning an idea into a business.

• True

• False

__________________ Is the conceptualization of entrepreneurship at the firm level.

• Inventor

• Corporate Entrepreneurship

• Conservative firms

• Execution intelligence

Which is NOT the characteristic of an entrepreneurial firm?

• Proactive

• Innovative

• Risk taking

• Take a more “wait and see” posture

Which of the following are the three primary reasons that people become entrepreneurs and start their own firms?

i) Desire to be their own boss

ii) Desire to pursue their own ideas

iii) Financial rewards

• i) and ii) only

• ii) and iii) only

• i) and iii) only

• i), ii) and iii)

Which is NOT a characteristics of Successful Entrepreneurs?

• Passion for the Business

• Not energetic

• Product/Customer Focus

• Execution Intelligence

Is this statement TRUE or a MYTH?

Entrepreneurs Are Born, Not Made

• MYTH

• TRUE

Is this statement TRUE or MYTH?

Entrepreneurs Are Not Motivated Primarily by Money

• MYTH

• TRUE

What type of start-up firm is this?

• Lifestyle firms

• Entrepreneurial firms

• Salary substitute firms

Many people in the 60 and older age range have substantial business experience, financial resources, and excellent vigor and health. 

Is this statement true or false?

• True

• False

Innovation and job creation are _______ impact of entrepreneurial firm.

• Economic

• Society

• Larger firms