,Entrepreneurship:nSuccessfullynLaunchingnNewnVentures,n5en(Barringer/Ireland)nChapte
rn1n IntroductionntonEntrepreneurship
1) Puren Fixn Cycles,n then companyn profiled ninnthenopeningn featuren ofnChaptern1,nwasnlaunched nbyn f
ourn co-foundersn and n sellsn .
A) fixed n gear,n singlen speed n bikes
B) entryn leveln bikesn that n selln inn then $100n pricen range
C) bikesn then aren durablen enoughn that n theyn almost n nevern need n ton ben fixed
D) highn qualityn bikesn that n selln inn then $1,000+n pricen range
E) multiplengear,nmultiplenspeed nbikesn
Answer:n A
Diff:n 1 Pagen Ref:n 3
LO:n 1.1:n Describen entrepreneurship,n corporaten entrepreneurship,n and n then characteristicsn of n entrepr
eneurialn firms.
AACSB:n Reflectiven Thinking
2) Whichn of n then followingn isn ann accuraten characterizationn of n interest n inn entrepreneurship?
A) Theren isn minimaln interest n inn entrepreneurshipn acrossn then world.
B) Theren isn minimaln interest n inn entrepreneurshipn inn Northn American and n Europe,nbut nsignificant n i
nterest n inn Asian and n Australia.
C) Theren isn significant n interest n inn entrepreneurshipn inn Northn American andnEurope,n but n minimaln i
nterest n inn Asian and n Australia.
D) Whilen interest n inn entrepreneurshipn wasn oncen high,n it n isn waningn inn popularityn acrossn then world.
E) Theren isn tremendousn interest n inn entrepreneurshipn acrossn then world.n
Answer:n E
Diff:n 1 Pagen Ref:n 3
LO:n 1.1:n Describen entrepreneurship,n corporaten entrepreneurship,n and n then characteristicsn of n entrepr
eneurialn firms.
AACSB:n Applicationn of n Knowledge
3) Accordingn ton then Globaln Entrepreneurshipn Monitorn (GEM)n 2013n survey,n about n
n percent n of n adultsninn then UnitednStatesn areneithern startingnan businessn orn aren runningn an businessn th
at n hasn beenn inn existencen forn lessn thann 3n 1/2n years.
A) 3.8
B) 5.5
C) 7.6
D) 9.0
E) 12.7
Answer:n E
Diff:n 3 Pagen Ref:n 5
LO:n 1.1:n Describen entrepreneurship,n corporaten entrepreneurship,n and n then characteristicsn of n entrepr
eneurialn firms.
AACSB:n Applicationn of n Knowledge
,4) Accordingn ton thenGlobaln Entrepreneurshipn Monitorn (GEM)n 2013nstudy,nthenmajorityn ofn peoplen i
nn high-incomen countriesn aren drawnn ton entrepreneurshipn .
A) ton taken advantagen of n ann attractiven opportunity
B) duen ton lackn of n careern prospects
C) asn an result n of n government n incentives
D) becausen ann important n rolen modeln wasn ann entrepreneur
E) tongainnprestige
n Answer:n A
Diff:n 2 Pagen Ref:n 5
LO:n 1.1:n Describen entrepreneurship,n corporaten entrepreneurship,n and n then characteristicsn of n entrepr
eneurialn firms.
AACSB:n Reflectiven Thinking
5) Whichn of n then followingn statementsn regardingn survivaln ratesn of n entrepreneurialn firmsn inn then
United n Statesn isn correct?
A) Asn highn asn 50n percent n aftern fourn years
B) Asn highn asn 60n percent n aftern fourn years
C) Asn highn asn 70n percent n aftern fourn years
D) Asn highn asn 80n percent n aftern fourn years
E) Asn highn asn 90npercent naftern fourn yearsn
Answer:n A
Diff:n 2 Pagen Ref:n 6
LO:n 1.1:n Describen entrepreneurship,n corporaten entrepreneurship,n and n then characteristicsn of n entrepr
eneurialn firms.
AACSB:n Reflectiven Thinking
6) Codyn Rodgersn isn thenfoundern of n an companyn named n Extremen Sportsn Apparel.n Then companyn
makesn appareln productsn forn extremen sportsn enthusiastsn suchn asn rockn climbers,n triathletes,n skate
boarders,n and n BMXnbikers.n Codynwantsnhisn companyn tonpursuen anhighn leveln ofn corporatenentrep
reneurship.n Ton achieven that n goal,n Cody'sn firmn should n ben .
A) innovative,n riskn averse,n and n taken an "wait n and n see"n posture
B) takingn an "wait n and n see"n posture,n innovative,n and n riskn taking
C) proactive,n not n innovative,n and n riskn taking
D) takingn an "wait n and n see"n posture,n not n innovative,n and n riskn averse
E) proactive,ninnovative,nand nriskntakingn
Answer:n E
Diff:n 2 Pagen Ref:n 6
LO:n 1.1:n Describen entrepreneurship,n corporaten entrepreneurship,n and n then characteristicsn of n entrepr
eneurialn firms.
AACSB:n Analyticaln Thinking
, 7) Googlen isn an firmn that n isn proactive,n innovativen and n risk-
taking.n Fromn thisn description,n wencann most naccuratelyn concludenthatn Googlen hasn anhighn leveln of n
.
A) enterprisen focus
B) innovativen intensity
C) entrepreneurialnintensity
D) creativen intensity
E) innovativenconcentration
n Answer:n C
Diff:n 2 Pagen Ref:n 7
LO:n 1.1:n Describen entrepreneurship,n corporaten entrepreneurship,n and n then characteristicsn of n entrepr
eneurialn firms.
AACSB:n Reflectiven Thinking
8) Applen isn ann established n firmn thatnencouragesn andnemphasizesn entrepreneurialn behaviorn t
hroughout n itsn variousn divisions.n Accordingn ton then textbook,n Applen practicesn
n entrepreneurship.
A) tactical
B) corporate
C) strategic
D) business
E) enterprise
n Answer:n B
Diff:n 2 Pagen Ref:n 7
LO:n 1.1:n Describen entrepreneurship,n corporaten entrepreneurship,n and n then characteristicsn of n entrepr
eneurialn firms.
AACSB:n Reflectiven Thinking
9) Accordingn ton thenopeningn featurenonnPuren Fixn Cycles,n onenofnthenbiggest nchallengesn thenstartupnn
own facesn isn ann increasinglyn competitiven marketplace.
Answer:n TRUE
Diff:n 1 Pagen Ref:n 3
LO:n 1.1:n Describen entrepreneurship,n corporaten entrepreneurship,n and n then characteristicsn of n entrepr
eneurialn firms.
AACSB:n Reflectiven Thinking
10) Accordingn ton thenresultsn ofn thenGEMn2013nsurvey,n about n1noutnof neveryn 8nAmericann adultsn isn a
ctivelyn engaged n inn startingn an businessn orn isn thenowner/managern of n anbusinessn that nisn lessn thann3n 1/2
n yearsn old.
Answer:n TRUE
Diff:n 2 Pagen Ref:n 5
LO:n 1.1:n Describen entrepreneurship,n corporaten entrepreneurship,n and n then characteristicsn of n entrepr
eneurialn firms.
AACSB:n Applicationn of n Knowledge
rn1n IntroductionntonEntrepreneurship
1) Puren Fixn Cycles,n then companyn profiled ninnthenopeningn featuren ofnChaptern1,nwasnlaunched nbyn f
ourn co-foundersn and n sellsn .
A) fixed n gear,n singlen speed n bikes
B) entryn leveln bikesn that n selln inn then $100n pricen range
C) bikesn then aren durablen enoughn that n theyn almost n nevern need n ton ben fixed
D) highn qualityn bikesn that n selln inn then $1,000+n pricen range
E) multiplengear,nmultiplenspeed nbikesn
Answer:n A
Diff:n 1 Pagen Ref:n 3
LO:n 1.1:n Describen entrepreneurship,n corporaten entrepreneurship,n and n then characteristicsn of n entrepr
eneurialn firms.
AACSB:n Reflectiven Thinking
2) Whichn of n then followingn isn ann accuraten characterizationn of n interest n inn entrepreneurship?
A) Theren isn minimaln interest n inn entrepreneurshipn acrossn then world.
B) Theren isn minimaln interest n inn entrepreneurshipn inn Northn American and n Europe,nbut nsignificant n i
nterest n inn Asian and n Australia.
C) Theren isn significant n interest n inn entrepreneurshipn inn Northn American andnEurope,n but n minimaln i
nterest n inn Asian and n Australia.
D) Whilen interest n inn entrepreneurshipn wasn oncen high,n it n isn waningn inn popularityn acrossn then world.
E) Theren isn tremendousn interest n inn entrepreneurshipn acrossn then world.n
Answer:n E
Diff:n 1 Pagen Ref:n 3
LO:n 1.1:n Describen entrepreneurship,n corporaten entrepreneurship,n and n then characteristicsn of n entrepr
eneurialn firms.
AACSB:n Applicationn of n Knowledge
3) Accordingn ton then Globaln Entrepreneurshipn Monitorn (GEM)n 2013n survey,n about n
n percent n of n adultsninn then UnitednStatesn areneithern startingnan businessn orn aren runningn an businessn th
at n hasn beenn inn existencen forn lessn thann 3n 1/2n years.
A) 3.8
B) 5.5
C) 7.6
D) 9.0
E) 12.7
Answer:n E
Diff:n 3 Pagen Ref:n 5
LO:n 1.1:n Describen entrepreneurship,n corporaten entrepreneurship,n and n then characteristicsn of n entrepr
eneurialn firms.
AACSB:n Applicationn of n Knowledge
,4) Accordingn ton thenGlobaln Entrepreneurshipn Monitorn (GEM)n 2013nstudy,nthenmajorityn ofn peoplen i
nn high-incomen countriesn aren drawnn ton entrepreneurshipn .
A) ton taken advantagen of n ann attractiven opportunity
B) duen ton lackn of n careern prospects
C) asn an result n of n government n incentives
D) becausen ann important n rolen modeln wasn ann entrepreneur
E) tongainnprestige
n Answer:n A
Diff:n 2 Pagen Ref:n 5
LO:n 1.1:n Describen entrepreneurship,n corporaten entrepreneurship,n and n then characteristicsn of n entrepr
eneurialn firms.
AACSB:n Reflectiven Thinking
5) Whichn of n then followingn statementsn regardingn survivaln ratesn of n entrepreneurialn firmsn inn then
United n Statesn isn correct?
A) Asn highn asn 50n percent n aftern fourn years
B) Asn highn asn 60n percent n aftern fourn years
C) Asn highn asn 70n percent n aftern fourn years
D) Asn highn asn 80n percent n aftern fourn years
E) Asn highn asn 90npercent naftern fourn yearsn
Answer:n A
Diff:n 2 Pagen Ref:n 6
LO:n 1.1:n Describen entrepreneurship,n corporaten entrepreneurship,n and n then characteristicsn of n entrepr
eneurialn firms.
AACSB:n Reflectiven Thinking
6) Codyn Rodgersn isn thenfoundern of n an companyn named n Extremen Sportsn Apparel.n Then companyn
makesn appareln productsn forn extremen sportsn enthusiastsn suchn asn rockn climbers,n triathletes,n skate
boarders,n and n BMXnbikers.n Codynwantsnhisn companyn tonpursuen anhighn leveln ofn corporatenentrep
reneurship.n Ton achieven that n goal,n Cody'sn firmn should n ben .
A) innovative,n riskn averse,n and n taken an "wait n and n see"n posture
B) takingn an "wait n and n see"n posture,n innovative,n and n riskn taking
C) proactive,n not n innovative,n and n riskn taking
D) takingn an "wait n and n see"n posture,n not n innovative,n and n riskn averse
E) proactive,ninnovative,nand nriskntakingn
Answer:n E
Diff:n 2 Pagen Ref:n 6
LO:n 1.1:n Describen entrepreneurship,n corporaten entrepreneurship,n and n then characteristicsn of n entrepr
eneurialn firms.
AACSB:n Analyticaln Thinking
, 7) Googlen isn an firmn that n isn proactive,n innovativen and n risk-
taking.n Fromn thisn description,n wencann most naccuratelyn concludenthatn Googlen hasn anhighn leveln of n
.
A) enterprisen focus
B) innovativen intensity
C) entrepreneurialnintensity
D) creativen intensity
E) innovativenconcentration
n Answer:n C
Diff:n 2 Pagen Ref:n 7
LO:n 1.1:n Describen entrepreneurship,n corporaten entrepreneurship,n and n then characteristicsn of n entrepr
eneurialn firms.
AACSB:n Reflectiven Thinking
8) Applen isn ann established n firmn thatnencouragesn andnemphasizesn entrepreneurialn behaviorn t
hroughout n itsn variousn divisions.n Accordingn ton then textbook,n Applen practicesn
n entrepreneurship.
A) tactical
B) corporate
C) strategic
D) business
E) enterprise
n Answer:n B
Diff:n 2 Pagen Ref:n 7
LO:n 1.1:n Describen entrepreneurship,n corporaten entrepreneurship,n and n then characteristicsn of n entrepr
eneurialn firms.
AACSB:n Reflectiven Thinking
9) Accordingn ton thenopeningn featurenonnPuren Fixn Cycles,n onenofnthenbiggest nchallengesn thenstartupnn
own facesn isn ann increasinglyn competitiven marketplace.
Answer:n TRUE
Diff:n 1 Pagen Ref:n 3
LO:n 1.1:n Describen entrepreneurship,n corporaten entrepreneurship,n and n then characteristicsn of n entrepr
eneurialn firms.
AACSB:n Reflectiven Thinking
10) Accordingn ton thenresultsn ofn thenGEMn2013nsurvey,n about n1noutnof neveryn 8nAmericann adultsn isn a
ctivelyn engaged n inn startingn an businessn orn isn thenowner/managern of n anbusinessn that nisn lessn thann3n 1/2
n yearsn old.
Answer:n TRUE
Diff:n 2 Pagen Ref:n 5
LO:n 1.1:n Describen entrepreneurship,n corporaten entrepreneurship,n and n then characteristicsn of n entrepr
eneurialn firms.
AACSB:n Applicationn of n Knowledge
