TEST BANK FOR , J , J
Entrepreneurship, The, Practice, and, Mindset, 3th, Edition, by, Heidi, M., Neck,, J J J J J J J J J J J
Christopher, P., Neck,, Emma, L., Murray J J J J J
Chapter, 1-16 J
CHAPTER, 1:,PRACTICING, ENTREPRENEURSHIP J J J
Multiple, Choice J
1. The, authors, define! entrepreneurship! as _____ _.
J J J J
a. a! way! of! thinking,! acting,! and! being! that! combines! the! ability! to! find! or!
J J J J J J J J J J J J J J
create! new! opportunities! with! the! courage! to! act! on! them
J J J J J J J J J
b. starting! a! small! business! by! finding! investors! and! launching! a! product
J J J J J J J J J J
c. developing! a! new! market! by! creating! a! product! that! does! not! currently! exist
J J J J J J J J J J J J
d. a! mindset! that! compels! people! to! start! multiple! ventures! throughout! a!
J J J J J J J J J J J
lifetime! Ans:! A
J J
Learning! Objective:! 1.1:! Explain! the! importance! of! action! and! practice! in!
J J J J J J J J J J J
entrepreneurship.
Cognitive! Domain:! Knowledge J J
Answer! Location:! Entrepreneurship! Requires! Action! and! Practice!
J J J J J J J
Difficulty! Level:! Medium J J
AACSB! Standard:! Application! of! knowledge
J J J J
2 ______ have! touched! every! corner! of! our! lives,! affecting! every! aspect! of! the
J J J J J J J J J J J
way! we! live.
J J
a. Lifestyles
b. Corporations
c. Entrepreneurs
d. Managers
! Ans:! C
J J
Learning! Objective:! 1.1:! Explain! the! importance! of! action! and! practice! in!
J J J J J J J J J J J
entrepreneurship.
Cognitive! Domain:! Knowledge J J
Answer! Location:! Entrepreneurship! Requires! Action! and! Practice!
J J J J J J J
Difficulty! Level:! Medium J J
AACSB! Standard:! Application! of! knowledge
J J J J
3. What! is! the! discipline! that! seeks! to! understand! how! opportunities! are!
J J J J J J J J J J J
discovered,! created,! and! exploited,! by! whom,! and! with! what! consequences?
J J J J J J J J J
a. imagineering
b. storyboarding
c. social! engineering J
d. entrepreneurship!
Ans.! D
J J
,Learning! Objective:! 1.1:! Explain! the! importance! of! action! and! practice! in!
J J J J J J J J J J J
entrepreneurship.
Cognitive! Domain:! Knowledge J J
Answer! Location:! Entrepreneurship! Requires! Action! and! Practice!
J J J J J J J
Difficulty! Level:! Medium J J
AACSB! Standard:! Application! of! knowledge
J J J J
4. Which! of! the! following! is! a! truth! about! entrepreneurship?
J J J J J J J J
a. Entrepreneurship! is! not! reserved! for! startups. J J J J J
b. Entrepreneurship! cannot! be! taught. J J J
c. Entrepreneurs! compete! more! than! they! collaborate. J J J J J
d. Entrepreneurs! have! a! special! set! of! personality! J J J J J J J
traits.! Ans:! AJ J
Learning! Objective:! 1.2:! List! the! seven! lesser-known! truths! about!
J J J J J J J J J
entrepreneurship.
Cognitive! Domain:! Knowledge J J
Answer! Location:! Entrepreneurship! May! Be! Different! From! What! You!
J J J J J J J J J
Think! Difficulty! Level:! Easy
J J J
AACSB! Standard:! Analytical! thinking
J J J
5. The! media! often! cover! the! meteoric! rise! of! entrepreneurs! such! as! Bill!
J J J J J J J J J J J J
Gates! (Microsoft)! and! Travis! Kalanick! (Uber).! According! to! the! text,! these!
J J J J J J J J J J J
stories
______.
a. are! inspirational,! but! do! little! to! represent! the! reality! of! entrepreneurship
J J J J J J J J J J
b. are! highly! relatable
J J
c. have! not! captured! the! public! imagination
J J J J J
d. are! accurate! depictions! of! the! reality! of!
J J J J J J J
entrepreneurship! Ans:! A J J
Learning! Objective:! 1.2:! List! the! seven! lesser-known! truths! about!
J J J J J J J J J
entrepreneurship.
Cognitive! Domain:! Comprehension J J
Answer! Location:! Media! Images! of!
J J J J J
Entrepreneurs! Difficulty! Level:! Medium J J J
AACSB! Standard:! Contexts! of! organizations! in! a! global! society
J J J J J J J J
6. A! temporary! organization! in! search! of! a! scalable! business! model! is! known!
J J J J J J J J J J J J
as! a(n)____.
J
a. startup
b. corporation
c. LLC
d. entrepreneur!
Ans:! A
J J
Learning! Objective:! 1.2:! List! the! seven! lesser-known! truths! about!
J J J J J J J J J
entrepreneurship.
Cognitive! Domain:! Knowledge J J
Answer! Location:! Truth! #1:! Entrepreneurship! Is! Not! Reserved! for! Startups
J J J J J J J J J
,Difficulty! Level:! Medium
J J
AACSB! Standard:! Application! of! knowledge
J J J J
7. Effectuation! is! the! idea! that _____ _. J J J J
a. businesses! should! have! a! positive! impact! on! people‘s! lives
J J J J J J J J
b. the! effects! of! ideas! can! be! studied! over! time
J J J J J J J J
c. the! future! is! unpredictable! yet! controllable
J J J J J
d. emotions! can! influence! decision! making!
J J J J J
Ans.! C J
Learning! Objective:! 1.2:! List! the! seven! lesser-known! truths! about!
J J J J J J J J J
entrepreneurship.
Cognitive! Domain:! Knowledge J J
Answer! Location:! Truth! #2:! Entrepreneurs! Do! Not! Have! a! Special! Set! of!
J J J J J J J J J J J J
Personality! Traits J
Difficulty! Level:! Medium
J J
AACSB! Standard:! Financial! theories,! analysis,! reporting,! and! markets
J J J J J J J
8 ______ are! people! who! start! several! businesses,! whether! at! the! same! time! or
J J J J J J J J J J J
one! after! the! other.
J J J
a. Social! entrepreneursJ
b. Serial! entrepreneurs
J
c. High-risk!entrepreneurs J
d. Low-risk! J
entrepreneurs! Ans:! B J J
Learning! Objective:! 1.2:! List! the! seven! lesser-known! truths! about!
J J J J J J J J J
entrepreneurship.
Cognitive! Domain:! Knowledge J J
Answer! Location:! Truth! #2:! Entrepreneurs! Do! Not! Have! a! Special! Set! of!
J J J J J J J J J J J J
Personality! Traits J
Difficulty! Level:! EasyJ J
AACSB! Standard:! Group! and! individual! behaviors
J J J J J
9. Which! of! the! following! is! true! about! effectual! entrepreneurs?
J J J J J J J J
a. They! focus! on! creating! a! future! rather! than! predicting! it.
J J J J J J J J J
b. They! find! markets! rather! than! make! them.
J J J J J J
c. They! do! not! accept! failure.
J J J J
d. They! focus! on! a! single! reliable!
J J J J J J
stakeholder.! Ans:! A J J
Learning! Objective:! 1.2:! List! the! seven! lesser-known! truths! about!
J J J J J J J J J
entrepreneurship.
Cognitive! Domain:! Knowledge J J
Answer! Location:! Truth! #2:! Entrepreneurs! Do! Not! Have! a! Special! Set! of!
J J J J J J J J J J J J
Personality! Traits J
Difficulty! Level:! EasyJ J
AACSB! Standard:! Analytical! thinking
J J J
, 10. According! to! the! authors,! what! is! the! precursor! to! entrepreneurial! action?
J J J J J J J J J J
a. a! business! process
J J
b. the! right! mindset
J J
c. an! understanding! that! failure! is! probable
J J J J J
d. the!acquisition!of! resources!
J J J J
Ans:! B J
Learning! Objective:! 1.2:! List! the! seven! lesser-known! truths! about!
J J J J J J J J J
entrepreneurship.
Cognitive! Domain:! Knowledge J J
Answer! Location:! Truth! #2:! Entrepreneurs! Do! Not! Have! a! Special! Set! of!
J J J J J J J J J J J J
Personality! Traits J
Difficulty! Level:! Easy J J
AACSB! Standard:! Application! of! knowledge
J J J J
11. The! entrepreneurial! method! requires! consistent! practice! so! that _______ can
J J J J J J J
be! continuously! developed! and! applied! to! future! endeavors.
J J J J J J J
a. a! strong! business! plan
J J J
b. education! and! application J J
c. business! processes J
d. knowledge!and!expertise! J J J
Ans:! D J
Learning! Objective:! 1.2:! List! the! seven! lesser-known! truths! about!
J J J J J J J J J
entrepreneurship.
Cognitive! Domain:! Knowledge J J
Answer! Location:! Truth! #3:! Entrepreneurship! Can! Be! Taught! (It‘s! a! Method! That!
J J J J J J J J J J J J
Requires! Practice) J
Difficulty! Level:! Medium J J
AACSB! Standard:! Application! of! knowledge
J J J J
12. Successful! entrepreneurs! tend! to! follow! which! approach! to! collaboration?
J J J J J J J J
a. They! do! not! collaborate! and! work! in! isolation.
J J J J J J J
b. They! collaborate! with! potential! customers,! but! not! with! competitors.
J J J J J J J J
c. They! collaborate! with! both! potential! customers! and! competitors.
J J J J J J J
d. They! collaborate! with! competitors,! but! not! with! potential!
J J J J J J J J
customers.! Ans:! C J J
Learning! Objective:! 1.2:! List! the! seven! lesser-known! truths! about!
J J J J J J J J J
entrepreneurship.
Cognitive! Domain:! Knowledge J J
Answer! Location:! Truth! #5:! Entrepreneurs! Collaborate! More! Than! They! Compete!
J J J J J J J J J J
Difficulty! Level:! Medium J J
AACSB! Standard:! Application! of! knowledge
J J J J
13. Research! revealed! what! percentage! of! Inc.! 500! founders! wrote!
J J J J J J J J J
formal! business! plans! prior! to! launching! their! companies?
J J J J J J J
a. more! than! 90% J J
b. more! than! 75% J J
Entrepreneurship, The, Practice, and, Mindset, 3th, Edition, by, Heidi, M., Neck,, J J J J J J J J J J J
Christopher, P., Neck,, Emma, L., Murray J J J J J
Chapter, 1-16 J
CHAPTER, 1:,PRACTICING, ENTREPRENEURSHIP J J J
Multiple, Choice J
1. The, authors, define! entrepreneurship! as _____ _.
J J J J
a. a! way! of! thinking,! acting,! and! being! that! combines! the! ability! to! find! or!
J J J J J J J J J J J J J J
create! new! opportunities! with! the! courage! to! act! on! them
J J J J J J J J J
b. starting! a! small! business! by! finding! investors! and! launching! a! product
J J J J J J J J J J
c. developing! a! new! market! by! creating! a! product! that! does! not! currently! exist
J J J J J J J J J J J J
d. a! mindset! that! compels! people! to! start! multiple! ventures! throughout! a!
J J J J J J J J J J J
lifetime! Ans:! A
J J
Learning! Objective:! 1.1:! Explain! the! importance! of! action! and! practice! in!
J J J J J J J J J J J
entrepreneurship.
Cognitive! Domain:! Knowledge J J
Answer! Location:! Entrepreneurship! Requires! Action! and! Practice!
J J J J J J J
Difficulty! Level:! Medium J J
AACSB! Standard:! Application! of! knowledge
J J J J
2 ______ have! touched! every! corner! of! our! lives,! affecting! every! aspect! of! the
J J J J J J J J J J J
way! we! live.
J J
a. Lifestyles
b. Corporations
c. Entrepreneurs
d. Managers
! Ans:! C
J J
Learning! Objective:! 1.1:! Explain! the! importance! of! action! and! practice! in!
J J J J J J J J J J J
entrepreneurship.
Cognitive! Domain:! Knowledge J J
Answer! Location:! Entrepreneurship! Requires! Action! and! Practice!
J J J J J J J
Difficulty! Level:! Medium J J
AACSB! Standard:! Application! of! knowledge
J J J J
3. What! is! the! discipline! that! seeks! to! understand! how! opportunities! are!
J J J J J J J J J J J
discovered,! created,! and! exploited,! by! whom,! and! with! what! consequences?
J J J J J J J J J
a. imagineering
b. storyboarding
c. social! engineering J
d. entrepreneurship!
Ans.! D
J J
,Learning! Objective:! 1.1:! Explain! the! importance! of! action! and! practice! in!
J J J J J J J J J J J
entrepreneurship.
Cognitive! Domain:! Knowledge J J
Answer! Location:! Entrepreneurship! Requires! Action! and! Practice!
J J J J J J J
Difficulty! Level:! Medium J J
AACSB! Standard:! Application! of! knowledge
J J J J
4. Which! of! the! following! is! a! truth! about! entrepreneurship?
J J J J J J J J
a. Entrepreneurship! is! not! reserved! for! startups. J J J J J
b. Entrepreneurship! cannot! be! taught. J J J
c. Entrepreneurs! compete! more! than! they! collaborate. J J J J J
d. Entrepreneurs! have! a! special! set! of! personality! J J J J J J J
traits.! Ans:! AJ J
Learning! Objective:! 1.2:! List! the! seven! lesser-known! truths! about!
J J J J J J J J J
entrepreneurship.
Cognitive! Domain:! Knowledge J J
Answer! Location:! Entrepreneurship! May! Be! Different! From! What! You!
J J J J J J J J J
Think! Difficulty! Level:! Easy
J J J
AACSB! Standard:! Analytical! thinking
J J J
5. The! media! often! cover! the! meteoric! rise! of! entrepreneurs! such! as! Bill!
J J J J J J J J J J J J
Gates! (Microsoft)! and! Travis! Kalanick! (Uber).! According! to! the! text,! these!
J J J J J J J J J J J
stories
______.
a. are! inspirational,! but! do! little! to! represent! the! reality! of! entrepreneurship
J J J J J J J J J J
b. are! highly! relatable
J J
c. have! not! captured! the! public! imagination
J J J J J
d. are! accurate! depictions! of! the! reality! of!
J J J J J J J
entrepreneurship! Ans:! A J J
Learning! Objective:! 1.2:! List! the! seven! lesser-known! truths! about!
J J J J J J J J J
entrepreneurship.
Cognitive! Domain:! Comprehension J J
Answer! Location:! Media! Images! of!
J J J J J
Entrepreneurs! Difficulty! Level:! Medium J J J
AACSB! Standard:! Contexts! of! organizations! in! a! global! society
J J J J J J J J
6. A! temporary! organization! in! search! of! a! scalable! business! model! is! known!
J J J J J J J J J J J J
as! a(n)____.
J
a. startup
b. corporation
c. LLC
d. entrepreneur!
Ans:! A
J J
Learning! Objective:! 1.2:! List! the! seven! lesser-known! truths! about!
J J J J J J J J J
entrepreneurship.
Cognitive! Domain:! Knowledge J J
Answer! Location:! Truth! #1:! Entrepreneurship! Is! Not! Reserved! for! Startups
J J J J J J J J J
,Difficulty! Level:! Medium
J J
AACSB! Standard:! Application! of! knowledge
J J J J
7. Effectuation! is! the! idea! that _____ _. J J J J
a. businesses! should! have! a! positive! impact! on! people‘s! lives
J J J J J J J J
b. the! effects! of! ideas! can! be! studied! over! time
J J J J J J J J
c. the! future! is! unpredictable! yet! controllable
J J J J J
d. emotions! can! influence! decision! making!
J J J J J
Ans.! C J
Learning! Objective:! 1.2:! List! the! seven! lesser-known! truths! about!
J J J J J J J J J
entrepreneurship.
Cognitive! Domain:! Knowledge J J
Answer! Location:! Truth! #2:! Entrepreneurs! Do! Not! Have! a! Special! Set! of!
J J J J J J J J J J J J
Personality! Traits J
Difficulty! Level:! Medium
J J
AACSB! Standard:! Financial! theories,! analysis,! reporting,! and! markets
J J J J J J J
8 ______ are! people! who! start! several! businesses,! whether! at! the! same! time! or
J J J J J J J J J J J
one! after! the! other.
J J J
a. Social! entrepreneursJ
b. Serial! entrepreneurs
J
c. High-risk!entrepreneurs J
d. Low-risk! J
entrepreneurs! Ans:! B J J
Learning! Objective:! 1.2:! List! the! seven! lesser-known! truths! about!
J J J J J J J J J
entrepreneurship.
Cognitive! Domain:! Knowledge J J
Answer! Location:! Truth! #2:! Entrepreneurs! Do! Not! Have! a! Special! Set! of!
J J J J J J J J J J J J
Personality! Traits J
Difficulty! Level:! EasyJ J
AACSB! Standard:! Group! and! individual! behaviors
J J J J J
9. Which! of! the! following! is! true! about! effectual! entrepreneurs?
J J J J J J J J
a. They! focus! on! creating! a! future! rather! than! predicting! it.
J J J J J J J J J
b. They! find! markets! rather! than! make! them.
J J J J J J
c. They! do! not! accept! failure.
J J J J
d. They! focus! on! a! single! reliable!
J J J J J J
stakeholder.! Ans:! A J J
Learning! Objective:! 1.2:! List! the! seven! lesser-known! truths! about!
J J J J J J J J J
entrepreneurship.
Cognitive! Domain:! Knowledge J J
Answer! Location:! Truth! #2:! Entrepreneurs! Do! Not! Have! a! Special! Set! of!
J J J J J J J J J J J J
Personality! Traits J
Difficulty! Level:! EasyJ J
AACSB! Standard:! Analytical! thinking
J J J
, 10. According! to! the! authors,! what! is! the! precursor! to! entrepreneurial! action?
J J J J J J J J J J
a. a! business! process
J J
b. the! right! mindset
J J
c. an! understanding! that! failure! is! probable
J J J J J
d. the!acquisition!of! resources!
J J J J
Ans:! B J
Learning! Objective:! 1.2:! List! the! seven! lesser-known! truths! about!
J J J J J J J J J
entrepreneurship.
Cognitive! Domain:! Knowledge J J
Answer! Location:! Truth! #2:! Entrepreneurs! Do! Not! Have! a! Special! Set! of!
J J J J J J J J J J J J
Personality! Traits J
Difficulty! Level:! Easy J J
AACSB! Standard:! Application! of! knowledge
J J J J
11. The! entrepreneurial! method! requires! consistent! practice! so! that _______ can
J J J J J J J
be! continuously! developed! and! applied! to! future! endeavors.
J J J J J J J
a. a! strong! business! plan
J J J
b. education! and! application J J
c. business! processes J
d. knowledge!and!expertise! J J J
Ans:! D J
Learning! Objective:! 1.2:! List! the! seven! lesser-known! truths! about!
J J J J J J J J J
entrepreneurship.
Cognitive! Domain:! Knowledge J J
Answer! Location:! Truth! #3:! Entrepreneurship! Can! Be! Taught! (It‘s! a! Method! That!
J J J J J J J J J J J J
Requires! Practice) J
Difficulty! Level:! Medium J J
AACSB! Standard:! Application! of! knowledge
J J J J
12. Successful! entrepreneurs! tend! to! follow! which! approach! to! collaboration?
J J J J J J J J
a. They! do! not! collaborate! and! work! in! isolation.
J J J J J J J
b. They! collaborate! with! potential! customers,! but! not! with! competitors.
J J J J J J J J
c. They! collaborate! with! both! potential! customers! and! competitors.
J J J J J J J
d. They! collaborate! with! competitors,! but! not! with! potential!
J J J J J J J J
customers.! Ans:! C J J
Learning! Objective:! 1.2:! List! the! seven! lesser-known! truths! about!
J J J J J J J J J
entrepreneurship.
Cognitive! Domain:! Knowledge J J
Answer! Location:! Truth! #5:! Entrepreneurs! Collaborate! More! Than! They! Compete!
J J J J J J J J J J
Difficulty! Level:! Medium J J
AACSB! Standard:! Application! of! knowledge
J J J J
13. Research! revealed! what! percentage! of! Inc.! 500! founders! wrote!
J J J J J J J J J
formal! business! plans! prior! to! launching! their! companies?
J J J J J J J
a. more! than! 90% J J
b. more! than! 75% J J
