TEST BANK
ENTREPRENEURSHIP: SUCCESSFULLY
LAUNCHING NEW VENTURES
,Table of Contents
PART I: DECISION TO BECOME AN ENTREPRENEUR
1. Introduction to Entrepreneurship
PART II: DEVELOPING SUCCESSFUL BUSINESS IDEAS
2. Recognizing Opportunities and Generating Ideas
3. Feasibility Analysis
4. Developing an Effective Business Model
5. Industry and Competitor Analysis
6. Writing a Business Plan
PART III: MOVING FROM AN IDEA TO AN ENTREPRENEURIAL FIRM
7. Preparing the Proper Ethical and Legal Foundation
8. Assessing a New Venture’s Financial Strength and Viability
9. Building a New-Venture Team
10. Getting Financing or Funding
PART IV: MANAGING AND GROWING AN ENTREPRENEURIAL FIRM
11. Unique Marketing Issues
12. The Importance of Intellectual Property
13. Preparing for and Evaluating the Challenges of Growth
14. Strategies for Firm Growth
15. Franchising
,Entrepreneurship: Successfully Launching New Ventures, 6e (Barringer/Ireland)
Chapter 1 Introduction To Entrepreneurship
1) Pure Fix Cycles, The Company Profiled In The Opening Feature Of Chapter 1, Was
Launched By Four Co-Founders And Sells .
A) Fixed Gear, Single Speed Bikes
B) Entry Level Bikes That Sell In The $100 Price Range
C) Bikes The Are Durable Enough That They Almost Never Need To Be Fixed
D) High Quality Bikes That Sell In The $1,000+ Price Range
E) Multiple Gear, Multiple Speed
Bikes Answer: A
Diff: 1 Page Ref: 3
LO: 1.1: Describe Entrepreneurship, Corporate Entrepreneurship, And The Characteristics Of
Entrepreneurial Firms.
AACSB: Reflective Thinking
2) Which Of The Following Is An Accurate Characterization Of Interest In Entrepreneurship?
A) There Is Minimal Interest In Entrepreneurship Across The World.
B) There Is Minimal Interest In Entrepreneurship In North America And Europe, But
Significant Interest In Asia And Australia.
C) There Is Significant Interest In Entrepreneurship In North America And Europe, But
Minimal Interest In Asia And Australia.
D) While Interest In Entrepreneurship Was Once High, It Is Waning In Popularity Across The
World.
E) There Is Tremendous Interest In Entrepreneurship Across The
World. Answer: E
Diff: 1 Page Ref: 3
LO: 1.1: Describe Entrepreneurship, Corporate Entrepreneurship, And The Characteristics Of
Entrepreneurial Firms.
AACSB: Application Of Knowledge
3) According To The Global Entrepreneurship Monitor (GEM) 2013 Survey, About
Percent Of Adults In The United States Are Either Starting A Business Or Are Running A
Business That Has Been In Existence For Less Than 3 1/2 Years.
A) 3.8
B) 5.5
C) 7.6
D) 9.0
E) 12.7
Answer: E
Diff: 3 Page Ref: 5
LO: 1.1: Describe Entrepreneurship, Corporate Entrepreneurship, And The Characteristics Of
Entrepreneurial Firms.
AACSB: Application Of Knowledge
, 4) According To The Global Entrepreneurship Monitor (GEM) 2013 Study, The Majority Of
People In High-Income Countries Are Drawn To Entrepreneurship .
A) To Take Advantage Of An Attractive Opportunity
B) Due To Lack Of Career Prospects
C) As A Result Of Government Incentives
D) Because An Important Role Model Was An Entrepreneur
E) To Gain
Prestige Answer:
A
Diff: 2 Page Ref: 5
LO: 1.1: Describe Entrepreneurship, Corporate Entrepreneurship, And The Characteristics Of
Entrepreneurial Firms.
AACSB: Reflective Thinking
5) Which Of The Following Statements Regarding Survival Rates Of Entrepreneurial Firms
In The United States Is Correct?
A) As High As 50 Percent After Four Years
B) As High As 60 Percent After Four Years
C) As High As 70 Percent After Four Years
D) As High As 80 Percent After Four Years
E) As High As 90 Percent After Four
Years Answer: A
Diff: 2 Page Ref: 6
LO: 1.1: Describe Entrepreneurship, Corporate Entrepreneurship, And The Characteristics Of
Entrepreneurial Firms.
AACSB: Reflective Thinking
6) Cody Rodgers Is The Founder Of A Company Named Extreme Sports Apparel. The
Company Makes Apparel Products For Extreme Sports Enthusiasts Such As Rock Climbers,
Triathletes, Skateboarders, And BMX Bikers. Cody Wants His Company To Pursue A High
Level Of Corporate Entrepreneurship. To Achieve That Goal, Cody's Firm Should Be .
A) Innovative, Risk Averse, And Take A "Wait And See" Posture
B) Taking A "Wait And See" Posture, Innovative, And Risk Taking
C) Proactive, Not Innovative, And Risk Taking
D) Taking A "Wait And See" Posture, Not Innovative, And Risk Averse
E) Proactive, Innovative, And Risk
Taking Answer: E
Diff: 2 Page Ref: 6
LO: 1.1: Describe Entrepreneurship, Corporate Entrepreneurship, And The Characteristics Of
Entrepreneurial Firms.
AACSB: Analytical Thinking
ENTREPRENEURSHIP: SUCCESSFULLY
LAUNCHING NEW VENTURES
,Table of Contents
PART I: DECISION TO BECOME AN ENTREPRENEUR
1. Introduction to Entrepreneurship
PART II: DEVELOPING SUCCESSFUL BUSINESS IDEAS
2. Recognizing Opportunities and Generating Ideas
3. Feasibility Analysis
4. Developing an Effective Business Model
5. Industry and Competitor Analysis
6. Writing a Business Plan
PART III: MOVING FROM AN IDEA TO AN ENTREPRENEURIAL FIRM
7. Preparing the Proper Ethical and Legal Foundation
8. Assessing a New Venture’s Financial Strength and Viability
9. Building a New-Venture Team
10. Getting Financing or Funding
PART IV: MANAGING AND GROWING AN ENTREPRENEURIAL FIRM
11. Unique Marketing Issues
12. The Importance of Intellectual Property
13. Preparing for and Evaluating the Challenges of Growth
14. Strategies for Firm Growth
15. Franchising
,Entrepreneurship: Successfully Launching New Ventures, 6e (Barringer/Ireland)
Chapter 1 Introduction To Entrepreneurship
1) Pure Fix Cycles, The Company Profiled In The Opening Feature Of Chapter 1, Was
Launched By Four Co-Founders And Sells .
A) Fixed Gear, Single Speed Bikes
B) Entry Level Bikes That Sell In The $100 Price Range
C) Bikes The Are Durable Enough That They Almost Never Need To Be Fixed
D) High Quality Bikes That Sell In The $1,000+ Price Range
E) Multiple Gear, Multiple Speed
Bikes Answer: A
Diff: 1 Page Ref: 3
LO: 1.1: Describe Entrepreneurship, Corporate Entrepreneurship, And The Characteristics Of
Entrepreneurial Firms.
AACSB: Reflective Thinking
2) Which Of The Following Is An Accurate Characterization Of Interest In Entrepreneurship?
A) There Is Minimal Interest In Entrepreneurship Across The World.
B) There Is Minimal Interest In Entrepreneurship In North America And Europe, But
Significant Interest In Asia And Australia.
C) There Is Significant Interest In Entrepreneurship In North America And Europe, But
Minimal Interest In Asia And Australia.
D) While Interest In Entrepreneurship Was Once High, It Is Waning In Popularity Across The
World.
E) There Is Tremendous Interest In Entrepreneurship Across The
World. Answer: E
Diff: 1 Page Ref: 3
LO: 1.1: Describe Entrepreneurship, Corporate Entrepreneurship, And The Characteristics Of
Entrepreneurial Firms.
AACSB: Application Of Knowledge
3) According To The Global Entrepreneurship Monitor (GEM) 2013 Survey, About
Percent Of Adults In The United States Are Either Starting A Business Or Are Running A
Business That Has Been In Existence For Less Than 3 1/2 Years.
A) 3.8
B) 5.5
C) 7.6
D) 9.0
E) 12.7
Answer: E
Diff: 3 Page Ref: 5
LO: 1.1: Describe Entrepreneurship, Corporate Entrepreneurship, And The Characteristics Of
Entrepreneurial Firms.
AACSB: Application Of Knowledge
, 4) According To The Global Entrepreneurship Monitor (GEM) 2013 Study, The Majority Of
People In High-Income Countries Are Drawn To Entrepreneurship .
A) To Take Advantage Of An Attractive Opportunity
B) Due To Lack Of Career Prospects
C) As A Result Of Government Incentives
D) Because An Important Role Model Was An Entrepreneur
E) To Gain
Prestige Answer:
A
Diff: 2 Page Ref: 5
LO: 1.1: Describe Entrepreneurship, Corporate Entrepreneurship, And The Characteristics Of
Entrepreneurial Firms.
AACSB: Reflective Thinking
5) Which Of The Following Statements Regarding Survival Rates Of Entrepreneurial Firms
In The United States Is Correct?
A) As High As 50 Percent After Four Years
B) As High As 60 Percent After Four Years
C) As High As 70 Percent After Four Years
D) As High As 80 Percent After Four Years
E) As High As 90 Percent After Four
Years Answer: A
Diff: 2 Page Ref: 6
LO: 1.1: Describe Entrepreneurship, Corporate Entrepreneurship, And The Characteristics Of
Entrepreneurial Firms.
AACSB: Reflective Thinking
6) Cody Rodgers Is The Founder Of A Company Named Extreme Sports Apparel. The
Company Makes Apparel Products For Extreme Sports Enthusiasts Such As Rock Climbers,
Triathletes, Skateboarders, And BMX Bikers. Cody Wants His Company To Pursue A High
Level Of Corporate Entrepreneurship. To Achieve That Goal, Cody's Firm Should Be .
A) Innovative, Risk Averse, And Take A "Wait And See" Posture
B) Taking A "Wait And See" Posture, Innovative, And Risk Taking
C) Proactive, Not Innovative, And Risk Taking
D) Taking A "Wait And See" Posture, Not Innovative, And Risk Averse
E) Proactive, Innovative, And Risk
Taking Answer: E
Diff: 2 Page Ref: 6
LO: 1.1: Describe Entrepreneurship, Corporate Entrepreneurship, And The Characteristics Of
Entrepreneurial Firms.
AACSB: Analytical Thinking
