Mid-Term Review ENTR 101

"Proof of concept" refers to the ability to convince others of a good idea

Most new businesses require bank financing or venture capital investors

What is an illustration of a driver responding rather than reacting to being cut off in traffic

Those with an internal locus of control believe they can control what aspect of their lives

Entrepreneurship often discourage students form pursuing a formal education

Rodney Walker said all the following are both entrepreneurial & beneficial to students, except:

A reaction is often experienced as an impluse rather than a conscious choice

Which demonstrates an entrepreneurial mindset

Knowledge alone is the engine that drives an entrepreneur

All of the following are part of Brian Scudamore’s self-directed learning curriculum, except:

Which of the following describes a typical small business

From within one's environment, all of the factors below can influence an individual except...

Which is the most powerful proof of a successful business concept

Which of the following is true about barriers to entry

Uncle Cleve chose to focus his time on __________________________________.

Which of the following best describes synergy for lifelong learning

The view that formal education is a one-time experience is an example of which mindset

Fear is an "internal barrier" that stops many would be entrepreneurs from acting on idea

Which of the following most accurately represents a vision?

What type of advantage did Uncle Cleve have over others in his community?

Problem solving is all of the following except:

All of the following are possible barriers to entry, except:

Which describes exercising the power of choice, rather than the power of circumstances

Which is not a fatal assumption that can put a business at risk

Which is the most effective way to make time in your busy schedule to work on your business

Which of the following statements is true of extrinsic motivation

What activity did Keith Kokal do on the job that led him to discover his first business

All of the following are ways to fund your way into business through bootstrapping, except:

The barrier of lack of experience can be overcome in all the following ways, except:

Which of the following statements would be most likely made by a problem solver

Coming up with a good idea is more important than your abilities as an entrepreneur

Knowledge is.....

When searching for knowledge to develop ideas, all the questions below are useful, except

Those with an external locus of control believe that outside factors will determine their lives

A “ready, fire, aim” approach has which of the following characteristics

Which of the following characterizes a fixed mindset

Which factor below would have the least influence on someone with an external locus of control

Inexperience can be an advantage for entrepreneurs

Rather than planning, entrepreneurs often find new opportunities once in business

Too much planning can blind us to unforeseen opportunities

Which of the following is most important to succeed in business

Starting a business should only be attempted by those who are unemployed or not in school

What problem did Uncle Cleve solve

Which of the following is the best description of an inventor

Entrepreneurs tend to be high stakes gamblers who are willing to bet everything on their ideas

By creating a vision we are exercising our power to choose

Our environment and the collective mindset of others has very little influence over our choices

What is the definition of bootstrapping

Informal learning often becomes a lifelong process for an entrepreneur

A vision can provide all of the following except:

Most businesses create success through all of the following, except..

All of the outcomes below are key benefits of pursuing knowledge, except:

What is the greatest lesson Uncle Cleve left behind that ultimately determines our life outcome

All of the following describe a reaction, except: