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Exam 1: Practicing Entrepreneurship

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Question 41

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Robert has a business that he wants to pass down to others in his family to run.Robert has ______.

A) an entrepreneurship
B) a family enterprise
C) a role as an entrepreneur inside
D) interest in a benefit corporation

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Question 42

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Analyze the benefit corporation (B-Corp)and describe its purpose and role for entrepreneurs.

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A sub-category of social entrepreneurshi...

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Question 43

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Research has proven that successful entrepreneurs are planners and most insist on having a formal business plan in place before launching a new venture.

In the Entrepreneurship Method,______ requires thinking about and analyzing existing information.

Social entrepreneurship is defined as the process of innovating new social media business opportunities.

What is the process of creating new products,ventures,processes,or renewal within large organizations?

Compare and contrast three truths about entrepreneurship and your own experience with entrepreneurs.

Approximately 70% of family businesses fail or are sold before the second generation reaches a position to take over.

Discuss social entrepreneurship and describe the differences between social entrepreneurial ventures and nonprofit organizations.

Social entrepreneurship is a term used only to describe not-for-profit ventures.

Franchising can be a beneficial way for entrepreneurs to get a head start in launching their own businesses since they do not have to pay the franchisor royalties after buying the franchise.

Approaching entrepreneurship as a ______ caters to its unpredictable and uncertain nature.

Rafael is struggling with next steps for his startup.He asks his friends for feedback on his idea.What part of the entrepreneurship method is he using?

Successful entrepreneurs tend to follow which approach to collaboration?

Which social entrepreneur and Nobel Prize Winner said,"All human beings are entrepreneurs.When we were in the caves,we were all self-employed…finding our food,feeding ourselves"?

The nonprofit "1001 Fountains for Tomorrow," whose goal is to provide safe drinking water for small rural villages in Cambodia,is an example of ______.

What was violinist Nathan Milstein concerned about with deliberate practice?

Paulina bought a small print shop and is very successful,but because she purchased an existing business,she is not considered an entrepreneur.

Why is the 10-step process not enough for entrepreneurial ventures?

Entrepreneurs who have engaged in years of deliberate practice tend to have ______.