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.   FALSE
B.   TRUE
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.   TRUE
B.   FALSE
Question #5
The vast majority of small businesses employ between 100 and 150 persons.
A.   FALSE
B.   TRUE
C.     
Question #6
The term _____ describes strategic thinking and risk-taking behavior that results in the creation of new opportunities.
A.   entrepreneurship
B.   partnership
C.   proxemics
D.   franchising
E.   business planning
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 born, not made.
D.   They are primarily responsible for selling of shares of stock to the public at large.
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.   Internet entrepreneurship
C.   social organization
D.   non-profit 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.   joint venture
B.   franchise
C.   family business
D.   wholly-owned subsidiary
E.   non-profit organization
Question #10
The goal of business incubators is to:
A.   aid third generation family businesses resolve family business feuds.
B.   ensure that established businesses retain their competitive advantage.
C.   formulate a succession plan for established family businesses.
D.   increase the survival rates for new startups.
E.   establish social enterprises.

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