Management 360 - Management and Organizational Behavior » Spring 2021 » Quiz chapter 6

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Question #1
Classic entrepreneurs are risk-taking individuals who take action to pursue opportunities others fail to recognize, or even view as problems or threats.
A.   TRUE
B.   FALSE
Question #2
A first-mover advantage comes from being first to exploit a niche or enter a market.
A.   TRUE
B.   FALSE
Question #3
Entrepreneurs are born, not made.
A.   TRUE
B.   FALSE
Question #4
Social enterprises have a social mission to help make lives better for underserved populations.
A.   FALSE
B.   TRUE
Question #5
The vast majority of small businesses employ between 100 and 150 persons.
A.   FALSE
B.     
C.   TRUE
Question #6
The term _____ describes strategic thinking and risk-taking behavior that results in the creation of new opportunities.
A.   business planning
B.   entrepreneurship
C.   partnership
D.   proxemics
E.   franchising
Question #7
Which of the following is true about serial entrepreneurs?
A.   They pursue innovations within the company that can change the organization in significant ways.
B.   They start and run businesses and nonprofits over and over again, moving from one interest and opportunity to the next.
C.   They are primarily responsible for selling of shares of stock to the public at large.
D.   They are born, not made.
E.   They make large investments in new ventures in return for an equity stake in the business.
Question #8
A(n) _____ necessarily has 500 or fewer employees, is independently owned and operated, and does not dominate its industry.
A.   small business
B.   non-profit organization
C.   Internet entrepreneurship
D.   social organization
E.   classic entrepreneurship
Question #9
A _____ is a business in which the owner of a business sells to another the right to operate the same business in another location.
A.   family business
B.   non-profit organization
C.   wholly-owned subsidiary
D.   franchise
E.   joint venture
Question #10
The goal of business incubators is to:
A.   ensure that established businesses retain their competitive advantage.
B.   increase the survival rates for new startups.
C.   formulate a succession plan for established family businesses.
D.   aid third generation family businesses resolve family business feuds.
E.   establish social enterprises.

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