Exam 6: Entrepreneurship and New Ventures

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A) Debt consolidation
B) Equity financing
C) Debt financing
D) Securitization
E) Risk management

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A) It is one of the least common ways to get involved in a business.
B) It runs under the franchisee's name and guidance.
C) The franchise parent receives a flat fee from the franchisee.
D) It makes use of things like opensource software, while containing costs, staying small, and keeping operations as simple as possible.
E) It refers to a business in which material or goods are given to another person, but ownership is retained until the goods are sold.

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A) making improvements to existing product lines.
B) being the first to exploit a niche or enter a market.
C) being the first to take a free-ride on the opportunity created by a pioneer.
D) the ability to poach trained personnel from an established business.
E) taking risks while strategizing to improve an existing market.

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A) Not taking the time to craft a vision and mission, nor to formulate and properly implement a plan
B) Not having enough funding to maintain operations while still building the business and gaining access to customers and markets
C) Not having sufficient know-how to run a business in the chosen market or geographical area
D) Falling prey to the temptations of fraud, deception, and embezzlement
E) Not having expertise in the essentials of business operations, including finance, purchasing, selling, and production

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A) They are born, not made.
B) They pursue innovations within the company that can change the organization in significant ways.
C) They make large investments in new ventures in return for an equity stake in the business.
D) They start and run businesses and nonprofits over and over again, moving from one interest and opportunity to the next.
E) They are primarily responsible for selling of shares of stock to the public at large.

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A) Internal locus of control
B) High energy level
C) High need for achievement
D) Tolerance for ambiguity
E) Flexibility

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A) Initial public offering
B) Revolving credit
C) Debt financing
D) Angel investment
E) Venture capital financing

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A) She is a necessity-based entrepreneur.
B) She is a social entrepreneur.
C) She is a venture capitalist.
D) She is an intrapreneur.
E) She is a serial entrepreneur.

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A) Classic entrepreneurship
B) Serial entrepreneurship
C) Intrapreneurship
D) An initial public offering
E) Necessity-based entrepreneurship

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A) business planning
B) partnership
C) entrepreneurship
D) proxemics
E) franchising

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A) Business councilors
B) Business incubators
C) Succession plans
D) Social advisors
E) Internet entrepreneurships

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A) do not like situations with high degree of uncertainty.
B) thrive on performance feedback.
C) have an external locus of control.
D) are unwilling to admit problems and errors.
E) do not like autonomy.

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A) They believe that their destiny is beyond their control.
B) They like to avoid risk.
C) They have a high need for achievement.
D) They are averse to autonomy.
E) They have a low tolerance for ambiguity.

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