ENT 3003 Exam 1 ACTUAL UPDATED QUESTIONS AND CORRECT ANSWERS
, Our lives change due to the work of entrepreneurs, True
regardless of current economic conditions.
One of the 7 truths of entrepreneurship is ___ _. entrepreneurship is a life skill
What is a startup? an idea for a scalable business model
Most entrepreneurs are instantly successful. False
The process of creating new products, ventures, intrapreneurship
processes, or renewal within large corporations is ___ _.
What is one of the "pros" of owning a franchise? It offers a ready-made business system.
Approximately ____of family businesses fail or are sold 70%
before the next generation takes over.
Entrepreneurship is linear and predictable. False
Why don't the same processes that help large Following steps in a process relies on past history to predict the future of the
corporations succeed work as well for entrepreneurial business and new ventures don't have any history to draw from.
ventures?
Entrepreneurship as a method requires ____ _. learning as you go
When you invite your friends to a dinner party and ask entrepreneur
them to bring an ingredient of their choice, you are
thinking like a(n) ___.
We think more like entrepreneurs at a young age. True
In what type of thinking are you more likely to apply a Managerial
straightforward approach to problems and
opportunities?
SELECT ALL THAT APPLY. The entrepreneurship method You will act sooner, even if you do not know what to do.
emphasizes smart action and moving quickly providing You will do the things you can and you will try to do the things you can't.
which of the following assurances? You will fail sooner, giving you the ability to make changes for the next iteration.
SELECT ALL THAT APPLY. Which of the following should Time
be considered when calculating affordable loss? Money
Reputation
The entrepreneurship method allows entrepreneurs to False
avoid uncertainty.
Which of the following is part of deliberate practice? Identify weaknesses and improve on them.
, Our lives change due to the work of entrepreneurs, True
regardless of current economic conditions.
One of the 7 truths of entrepreneurship is ___ _. entrepreneurship is a life skill
What is a startup? an idea for a scalable business model
Most entrepreneurs are instantly successful. False
The process of creating new products, ventures, intrapreneurship
processes, or renewal within large corporations is ___ _.
What is one of the "pros" of owning a franchise? It offers a ready-made business system.
Approximately ____of family businesses fail or are sold 70%
before the next generation takes over.
Entrepreneurship is linear and predictable. False
Why don't the same processes that help large Following steps in a process relies on past history to predict the future of the
corporations succeed work as well for entrepreneurial business and new ventures don't have any history to draw from.
ventures?
Entrepreneurship as a method requires ____ _. learning as you go
When you invite your friends to a dinner party and ask entrepreneur
them to bring an ingredient of their choice, you are
thinking like a(n) ___.
We think more like entrepreneurs at a young age. True
In what type of thinking are you more likely to apply a Managerial
straightforward approach to problems and
opportunities?
SELECT ALL THAT APPLY. The entrepreneurship method You will act sooner, even if you do not know what to do.
emphasizes smart action and moving quickly providing You will do the things you can and you will try to do the things you can't.
which of the following assurances? You will fail sooner, giving you the ability to make changes for the next iteration.
SELECT ALL THAT APPLY. Which of the following should Time
be considered when calculating affordable loss? Money
Reputation
The entrepreneurship method allows entrepreneurs to False
avoid uncertainty.
Which of the following is part of deliberate practice? Identify weaknesses and improve on them.
