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Entrepreneurship Review Flashcards | StudBud
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Entrepreneurship Review
Entrepreneurship Review
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Entrepreneurship
Flashcards
43 cards
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Practice quiz
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Questions
43
Answers
1
What is risk management?
Taking risk
maximizing risk
Avoiding risk
Minimizing risk
2
Which shark is associated with Real Estate?
Laurie
Barbara
Robert
Kevin
3
Empowered employees usually
remain committed to the company's goals
are not motivated
feel unimportant
lack responsibility
4
Working for an entrepreneurial firm means that you assume some risk
TRUE
FALSE
5
One key to effective risk taking is
mutual trust
group think
compliance
being an authority
6
Step 1 of effective problem solving is
choose and implement the best option
explore alternatives
Define and analyze the problem
Set criteria for a good solution
7
Entrepreneurs can be inventors
FALSE
TRUE
8
The job of a leader is to:
Both choices
Communicate a vision
Provide direction
Neither choice
9
Which of the following is a disadvantage of entrepreneurship?
All of the above
High Rate of Failure
Must be aware of all operating costs
Customer Demand/Complaints
10
Which of the choices below could be a motivating factor for an individual to decide to become an entrepreneur?
Layoffs
Desire to work at home
Flexible Schedule
All of the above
11
What is Mr. Wonderful's first name?
Kevin
Damon
Robert
Mark
12
Employees do not have to share an entrepreneurs optimism
TRUE
FALSE
13
I should work for an entrepreneurial company if I prefer a well defined job description
FALSE
TRUE
14
What company did Bill Gates create
Microsoft
Intel
Dell
Nike
15
What of the following is an entrepreneur?
Hillary Clinton
Mrs. Small
Ben Affleck
Dave Thomas
16
Teamwork is
a key component of an entrepreneurial business
a skill that can be improved
Neither of these
Both of these
17
Nearly all all entrepreneurs are under 30
FALSE
TRUE
18
The last step of effective problem solving is
evaluate the alternatives according to the criteria
define and analyze the problem
Review the outcome
Explore alternatives
19
Which of the following is an advantage of entrepreneurship
Enjoy your work
All of the above
Earn Money
Run things their own way
20
I should work at an entrepreneurial firm if I want to know my boss well
FALSE
TRUE
21
Who, from the following choices, is considered an entrepreneur.
Dave Thomas
Henry Ford
`Bill Gates
All of the above
22
Entrepreneurship always involves risk
FALSE
TRUE
23
What is the most common type of self-employed small scale hotelier?
Resort
Motel
Hotel
Bed & Breakfast (B&B)
24
Which of the following should you
avoid doing
when listening to someone
paraphrasing
look directly at them and give them your full attention
framing your response while the speaker is still talking
summarizing
25
Inventors ARE entrepreneurs
FALSE
TRUE
26
Which of the following is a good way to empower employees
let employees know they are important
All of the above
None of the above
provide prompt and encouraging feedback
27
How do you spell the name of this class?
Entreperneurship
Entrepreneurship
Entrepenuership
Entrepernewership
28
Which shark owns the Dallas Mavericks?
Mark
Kevin
Damon
Robert
29
Learning to accept and give criticism without resentment is
hard for most people
not important
easy for most people
not a trait of a leader
30
What is a way to generate ideas that you learned in class
Brainstorming
Brainfreezing
Spitballing
Spinning
31
How many sides of the brain are referred to in our class readings
three
four
two
one
32
Most entrepreneurial firms.......
Expand in the first year
Remain small
None of the above
Become large corporations
33
Which one of the following is not a personal characteristic of an entrepreneur?
Lazy
Value independence
Self-confident
Persistent
34
Which of the following
should
you do
when listening to someone
Summarize
Look at them directly and give them your full attention
All of the above
Paraphrase
35
Good communication skills are required for effective problem solving
False
True
36
Leadership skills cannot be learned and developed.
True
False
37
The work environment should be
supportive
hostile
tense
All of the above
38
If I am interested in a hierarchial structure, entrepreneurship company is the place for me
TRUE
FALSE
39
A successful entrepreneur will need to
Establish reachable goals and develop plans
Organize, delegate and maintain control
All of the above
Open lines of communication
40
What does IRR mean
Invention, Responsibility, Risk
Innovation, Risk, Reward
Innovation, Responsibility, Risk
Invention, Responsibility, Reward
41
Which of the following is an obstacle to effective risk taking
Too much research
Neither of these
Both of these
Fear of being blamed
42
Entrepreneurs must be willing to work ______ hours a week
20
40
As many as it takes
60
43
What is a question an entrepreneur needs to answer?
All of the above
How should I organize my business
How much capital do I need
what are the legal restrictions
