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Foundations of Entrepreneurship

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Submitted By samanthaaakhoo
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Chapter 1 The Foundations of Entrepreneurship

Multiple Choice Questions:

1. A recent study by Ernst and Young found that 78% of influential Americans believe that entrepreneurship will be the defining trend of this century. The entrepreneurial opportunity that topped their list was: a. the Internet b. globalization c. downsizing of corporate America d. None of the above.

2. Current competitive conditions favor: a. large companies with their hierarchies and layers of management. b. companies in industries that were once regulated by government but have recently been deregulated. c. small companies that can quickly move into and out of niche markets as they emerge and recede. d. Both A and B are correct.

3. Which of the following is NOT a characteristic of the typical entrepreneur? a. Confidence in his/her ability to succeed b. Value of money over achievement c. Desire for immediate feedback d. A future orientation

4. Which of the following is NOT a characteristic of the typical entrepreneur? a. Desire for responsibility b. High degree of commitment c. Low energy levels d. Confidence in his/her ability to succeed

5. Characteristics of entrepreneurs include all of the following EXCEPT: a. Tolerance for ambiguity b. Flexibility c. Skill at organizing d. Low degree of commitment 6. Entrepreneurs are characterized by: a. skill at organizing. b. desire for immediate feedback. c. high energy levels. d. All of the above.

7. Entrepreneurs who repeatedly start businesses and grow to a sustainable size before striking out again are known as ______ entrepreneurs. a. Opportunistic b. Persistent c. Serial d. None of the above.

8. Surveys show that owners of small businesses believe that…...

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