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WorksheetsEntrepreneurship UNIT 2-3-4 Review
Total questions: 47
Worksheet time: 24mins
Entrepreneurs identify problems or gaps in the marketplace, and use ____________ to create solutions.
metrics
Microsoft
innovation
delegation
Successful entrepreneurs usually have a lot of ____________; they believe their visions will become a reality – they are resolute, optimistic and determined.
confidence
risk aversion
work ethic
debt
Advancements in technology occur everyday, which allows some entrepreneurs to run their businesses:
with less regulation.
nearly entirely from their laptop computers.
with a store front.
with no computer skills.
A solopreneur is: Select an answer from the options below.
an entrepreneur who works for a company
an intrapreneur who works from home
a person who starts a business and runs it by themselves
an entrepreneur who bootstraps
These external factors can impact entrepreneurial growth: 1)__________, 2) Racial, 3) Social, 4) Political, and 5) Psychological. Select an answer from the options below.
Manufacturing
Economic
Corporate
Managerial
The trait of _______________ is a picture the entrepreneur paints in their mind, that if the company is successful, the company and/or world might look a certain way. Select an answer from the options below.
vision
ambition
strategy
execution
Improper delegation, without enough direction or management, can cause employees to become: Select an answer from the options below.
frustrated and confused
empowered
developed
promoted and rewarded
Successful entrepreneurs are problem solvers. They use the following trait, which involves the creation of new, unique products or services: Select an answer from the options below.
bootstrapping
self-awareness
innovation
mission
Successful entrepreneurs share __________ as a common trait; they do it for the love of the game, for the journey. Select an answer from the options below.
balance sheets
strategy
passion
fear
These are one-person operations, where someone starts and runs the business by themselves, with no additional partners or staff. Select an answer from the options below.
solopreneur
small-business owner
a tax deduction
an intrapreneur
A common myth of what it takes to be an entrepreneur is: Select an answer from the options below.
all I need is money to get started
I need a certain type of experience
entrepreneurs are born
all the above
Teresa is being very resourceful when she starts her business by finding ways to build it with limited funds and resources. She is ______________. Select an answer from the options below.
bootstrapping
taking risk
multi-tasker
relaxing
The tasks and responsibilities for entrepreneurs and small business owners alike, include: Select an answer from the options below.
sales and marketing
complying with regulations
strategy and planning
all the above
Proper delegation provides great benefits, including Select an answer from the options below.
saving time and money
it helps empower and motivate people
it helps build skills
all the above
Which are current trends in entrepreneurship? Select an answer from the options below.
contract workers and revenue-focused
finance and large companies
accounting and workshops
competition and maker space
A willingness to be flexible and to be “on call” and to work long and irregular hours, in order to serve your employees and customers and grow your business, is an example of what trait of successful entrepreneurs and business owners? Select an answer from the options below.
persuasiveness
work-ethic
confidence
life-long-learner
Micromanagement occurs when a manager: Select an answer from the options below.
creates a spreadsheet
over-manages, providing too much direction
under-manages, providing too little direction
hires too many people
One barrier to small business/entrepreneurial success is: Select an answer from the options below.
lack of capital funding
less regulation
less competition
more math acumen
What are traits of successful entrepreneurs? Select an answer from the options below.
Innovative and Persistent
Passionate and Focused
Persuasive and Hard Working
all of the above
Being creative by working effectively with limited funds and resources.
Bootstrapping
Crowdfunding
Venture Capital
Angel Investment
Conscious of one’s own traits, skills, strengths, weaknesses, and emotions.
Self-Awareness
Self-Confidence
Empathy
Motivation
Personal characteristics, expressed by a regular pattern of behavior, that over time become a part of you.
Traits
Habits
Skills
Emotions
A summary that describes a company's purpose; its reason for being, the problem it is solving.
Mission
Vision
Strategy
Goal
An aspirational view of the future, that if the company is successful in accomplishing its mission, the company and/or world might look a certain way.
Vision
Mission
Goal
Strategy
A strong feeling of enthusiasm, connection, determination, and devotion.
Passion
Apathy
Indifference
Disinterest
The introduction of something new; a new idea, product, method, device, or service.
Innovation
Tradition
Replication
Stagnation
The loss of potential gain from among other alternatives, when one alternative is chosen.
Opportunity Cost
Sunk Cost
Fixed Cost
Variable Cost
Successful entrepreneurs are enthusiastic about their work; they do it for the love of the journey; they are ____________ about what they are doing and why they are doing it. Select an answer from the options below.
concerned
passionate
hesitant
nervous
An employee who is hired for a specific job at a specific rate of pay, but is not considered a permanent employee, is called: Select an answer from the options below.
a solopreneur
an intrapreneur
a tax deduction
a contract employee
Entrepreneurs differ from small business owners in that they generally take on more ________. Select an answer from the options below.
debt
risk
compliance
accounting
In an effort to bootstrap and save money, many entrepreneurs started their businesses from their
corporate office and museum
headquarters and gym
park and synergy
garages and dorm rooms
Risk Averse means:
you are generally reluctant to take risks
you are generally open to taking risk
you are for borrowing a lot of money
you don’t understand what risk is
Entrepreneurs differ from small business owners in that are generally more concerned with:
a stable income
certain hours
regular paychecks
growing the company at a faster pace
In some parts of the world, pursuing an opportunity around a new innovation can be difficult and less accepted based on social and/or ___________ factors. Select an answer from the options below.
pitch deck
marketing
political
accounting
A labor market involving temporary, flexible, freelance jobs, often using technology to connect workers with those who are hiring, is called: Select an answer from the options below.
small business owner
gig economy
contract worker
solopreneur
An employee who is hired for a specific job at a specific rate of pay; a contract employee is not considered a permanent employee.
Contract Employee
Permanent Employee
Freelancer
Intern
A labor market involving temporary, flexible, freelance jobs, often using technology to connect workers with those who are hiring.
Gig Economy
Traditional Employment
Permanent Workforce
Corporate Sector
These are one-person operations, where someone starts and runs the business by themselves, with no additional partners or staff.
Solopreneur
Partnership
Corporation
Franchise
A company that is operated out of someone's residence.
Home-based business
Office-based business
Retail store
Franchise
An individual who is their own boss.
Self-employed
Employee
Intern
Manager
A person who owns a small business.
Small-Business Owner
Employee
Investor
Manager
An amount that reduces a business's revenue, or individual’s income, which in turn reduces the taxes owed.
Tax Deduction
Tax Credit
Tax Evasion
Tax Refund
Geraldo has a personal budget that he has stayed disciplined to now for five years. He invested $300 per month at 6% compounded monthly and now has a little over $21,000. He wants to start a business but is scared that he will lose the money he worked so hard to save. Based on this information, it’s possible Geraldo doesn’t possess a certain entrepreneurial trait. Which one? Select an answer from the options below.
Bootstrapping
Multi-tasker
Life-long-learner
Willingness to take risks
Which is a barrier to entrepreneurial success? Select an answer from the options below.
poor cash flow management
lack of math acumen
ineffective management of priorities
all the above
Which is a barrier to entrepreneurial success? Select an answer from the options below.
taking too much risk
taking too little risk
insufficient innovation
all the above
Delegation is an important responsibility of a leader/manager: Delegation occurs when certain ________ are assigned to others. Select an answer from the options below.
seats
passwords
tasks and/or responsibilities
user names
Entrepreneurs are known for having ___________, a view and belief of what their company can become, and if successful, what impact it can have on society, and the world. Select an answer from the options below.
vision
vocation
career
profession
