UF ENT3003 EXAM 1 QUESTIONS AND
ANSWERS GRADED A+ 2025/2026
True or False: Entrepreneurs plan more than they act - ANS False
Effectuation - ANS The future is unpredictable yet controllable
Franchising - ANS Individual purchases license from existing business and pays royalties.
True or False: Entrepreneurship is a method not a process - ANS True
True or False: Entrepreneurs are smaller versions of corporations - ANS False
What is the first step of the entrepreneurship method? - ANS Identify desired impact
Inbound marketing - ANS Building trust with potential customers
Outbound marketing - ANS Traditional advertising
Mindset - ANS The established set of attitudes held by someone
1 @COPYRIGHT 2026 ALLRIGHTS RESERVED.
, Metacognition - ANS Awareness and understanding of one's own thought processes
True or False: Left brain is rational and right brain is creative - ANS True
Improvisation - ANS To invent without preparation
Self-efficacy - ANS Belief that our actions are responsible for our success
3 types of value that can be generated - ANS Economic, social, environmental
IDEATE - ANS Identify, discover, enhance, anticipate, target, evaluate
Design thinking - ANS A human-centered approach to innovation
IDEO's motto - ANS How might we
Divergent thinking - ANS Expands the number of possible problem solutions
Convergent thinking - ANS Narrows the available problem solutions to determine the single
best solution
3 phases of design thinking - ANS Inspiration, Ideation, Implementation
Observation - ANS Closely monitoring the behavior and activities of users in their
environment for greater empathic understanding
2 @COPYRIGHT 2026 ALLRIGHTS RESERVED.
ANSWERS GRADED A+ 2025/2026
True or False: Entrepreneurs plan more than they act - ANS False
Effectuation - ANS The future is unpredictable yet controllable
Franchising - ANS Individual purchases license from existing business and pays royalties.
True or False: Entrepreneurship is a method not a process - ANS True
True or False: Entrepreneurs are smaller versions of corporations - ANS False
What is the first step of the entrepreneurship method? - ANS Identify desired impact
Inbound marketing - ANS Building trust with potential customers
Outbound marketing - ANS Traditional advertising
Mindset - ANS The established set of attitudes held by someone
1 @COPYRIGHT 2026 ALLRIGHTS RESERVED.
, Metacognition - ANS Awareness and understanding of one's own thought processes
True or False: Left brain is rational and right brain is creative - ANS True
Improvisation - ANS To invent without preparation
Self-efficacy - ANS Belief that our actions are responsible for our success
3 types of value that can be generated - ANS Economic, social, environmental
IDEATE - ANS Identify, discover, enhance, anticipate, target, evaluate
Design thinking - ANS A human-centered approach to innovation
IDEO's motto - ANS How might we
Divergent thinking - ANS Expands the number of possible problem solutions
Convergent thinking - ANS Narrows the available problem solutions to determine the single
best solution
3 phases of design thinking - ANS Inspiration, Ideation, Implementation
Observation - ANS Closely monitoring the behavior and activities of users in their
environment for greater empathic understanding
2 @COPYRIGHT 2026 ALLRIGHTS RESERVED.
