Entrepreneurship Information

Which of the following are different terms for variable costs? (ENT FIS 1,2,3,4,5,6,7,8,9,10,11,12,13)

According to Morris et. al.(2011), why managers involved in entrepreneurial activity might act in an unethical manner?

• A. a culture condition
• B. mislead top management
• C. None

A strategy for how a business will obtain start-up capital, identify sources of financing, and assess the costs and benefits of resources

• FINANCIAL PLAN

All of these are tangible assets except:

• Location
• Industry experience
• Computer systems
• Business License

To prepare a Pro Forma Cash Flow Statement, you must forecast your:

• Revenues and operating expenses
• Profits
• Assets and liabilities
• Debt capital

An optimum capital structure can be defined as a financing mix incurring the ___ cost but yielding the ___ results. (EN ES 1)

• a. Least & maximum
• b. Maximum & least
• c. Least & minimum
• d. Maximum & minimum

What is A/B testing in digital marketing?

• 1. A list of marketing campaigns.
• 2. A type of government regulation.
• 3. The practice of comparing two versions of a web page, email, or advertisement to determine which one performs better in terms of user engagement or conversions.
• 4. A document outlining a company's mission and values.

The point at which total cost and total revenue are equal, meaning there is no loss or gain for your small business describes which term?

• Business Milestone
• Compound Interest
• Break-Even Point
• Segmentation Methods

According to Kets de Vries (1985), which of the following is one of the negative effects that can permeate the personality of entrepreneurs and dominate their behavior?

• A. The confrontation with risk
• B. Entrepreneurial stress
• C. The entrepreneurial ego
• D. All of the above

The need for political skills is tied to three major challenges. Which one is not one of them?

• A. Achieving credibility or legitimacy for the concept and the entrepreneurial team
• B. Overcoming inertia and resistance
• C. Keeping up with innovations
• D. Obtaining resources

Potential owners should examine all of these specific areas except:

• Work Experience
• Financial History
• Education
• Family History

What is a value chain in business?

• 1. A list of marketing strategies.
• 2. The series of activities and processes that add value to a product or service as it moves from raw material to the customer.
• 3. A government agency.
• 4. A type of marketing campaign.

Emergent investments can be described as:

• A. Investments in markets which are not important these days, but may become in a future
• B. Re-invention
• C. Regular and continuous introducing of new products and services or entering new markets

Dell Inc. is moving forward with plans to begin selling PCs through solution providers, channel partners and retail partners, instead of sticking with the pure direct sales model championed by company founder Michael Dell.Which form of strategic entrepreneurship does Dell adapt?

• A. Strategic renewal
• B. Sustained regeneration
• C. Domain redefinition
• D. Organizational rejuvenation
• E. Business model reconstruction

The Fortune 500 companies employ _________________ employees than ten years ago.

• More
• Same
• Fewer
• Younger

Operations Management is a _________ process: (ENT POM 1,2,3,4,5,6,7,8,9,10,11,12,13,14,15)

• Translation
• Transformation
• Transaction
• Transition

Which of the following is not a financial statement needed for potential lenders and investors?

• Cash flow statement
• Balance sheet
• Loss statement
• Income statement

A small business owner's relationships with key suppliers and customers are of relatively little importance in a business' success.

• True
• False

What is a sales funnel in marketing?

• 1. A list of marketing strategies.
• 2. A visual representation of the stages a customer goes through before making a purchase, from awareness to conversion.
• 3. A government agency.
• 4. A type of marketing campaign.

What does ROI stand for in the context of business?

• 1. Return on Influence
• 2. Return on Investment
• 3. Return on Ideas
• 4. Return on Innovation

Entrepreneurial companies recognize the concept of failure that states:

• A. Company can be successful only when there are no failures
• B. Failure is integral part of entrepreneurship and it goes hand in hand with innovating and learning
• C. Company should punish everybody who has made the mistake

The set of moral principles that guides a company's conduct

• Business Ethics

Installing mounted video cameras can help to:

• Prevent robberies
• Prevent or reduce shoplifting
• Prevent employee theft
• All of these

An overall strategy assists the business by targeting its effort in specific areas.

• True
• False

What is a niche product?

• 1. A type of government agency.
• 2. A list of marketing strategies.
• 3. A product with a broad target audience.
• 4. A product that serves a specific and specialized market segment.

According to Morris et. al.(2011), which the following is not part of Principles of the Open Book Management?

• A. employee has access to company financials
• B. People are empowered to make decision in their job
• C. the company teach the basic of business to everyone
• D. Employee develop core capabilities of company

Revenue = 1000Cost of Goods Sold = 200Expenses = 300Gross Profit = ? (ENT FIS 1,2,3,4,5,6,7,8,9,10,11,12,13)

• 800
• 500
• 700
• 300

These are special events/meetings where companies of the same industry or related industries display their products.

• Trade Shows

Chemicals, fabrics, and foods are examples of (BLANK) businesses.

• Manufacturing, Manufacture

Comparing the key roles of managers and entrepreneurs, which of the below mentioned key roles does not represent the manager? (Chapter 1)

• A. Motivator
• C. Opportunity Seeker
• D. Coordinator

The cash flow statement is used to describe _________ percent of the activities that provide and use cash during a specified period of time.

• 25
• 50
• 75
• 100

Which step of the problem solving model involves performing research and interviewing customers, suppliers, and employees?

• Define the problem
• Gather Information
• Identify various solutions
• Evaluate alternatives

Which of the following is a characteristic of an entrepreneur?

• 1. Avoiding all risks at all costs.
• 2. A willingness to take calculated risks.
• 3. Always following conventional wisdom.
• 4. Focusing solely on short-term goals.

After proper evaluation of ideas, an entrepreneur comes to know ,what is important and what is not.

• True
• False

How would you classify a manager that's in charge of a department? (ENT M 1,2,3,4,5,6,7,8,9,10,11,12,13)

• Top-Level Manager
• Operational Manager
• Middle Manager
• Low-Level Manager

What do SMART goals mean?

• Specific, Measurable, Attainable, Realistic, Timely

Which is not a function of management (EN,BC,1,2,3,4,5,6,7,8)

• control
• plan
• finance
• organize

Below are the areas concerning of ethics in businesses, EXCEPT? (EN E 1,2,3,4)

• Honest
• Friendship
• Citizenship
• Integrity

What is social proof in marketing?

• 1. A list of marketing campaigns.
• 2. Evidence that demonstrates the popularity or credibility of a product or service through customer reviews, testimonials, or endorsements.
• 3. A type of government regulation.
• 4. A
• document outlining a company's mission and values.

What is the disadvantage of choosing a sole proprietorship?

• Cannot have more than one founder
• Law does not recognize other equity investors
• Liability is solely on the owner
• All of these are correct

What can be defined as an attractive project idea which an entrepreneur accepts as a basis for his investment decision? (EN ES 1)

• a. Possibility
• b. Business
• c. Opportunity
• d. Notion

Tom Peter suggests…

• A. … complete employee ownership of the corporation
• B. … only using facilities of five stories or more
• C. … not taking customer focus to seriously
• D. … promoting rabble rousers to prominent positions

According to Morris, Kuratko and Covin (2011), which of the following is not part of the 3 dimensions of Corporate Entrepreneurship?

• A. Proactiveness
• B. Internationalisation
• C. Innovativeness
• D. Risk-taking

an individual who undertakes the creation, organization, and ownership of a business

• entrepreneur

According to the Small Business Administration's Office of Advocacy, how many new businesses survive for at least two years

• 25%
• 44%
• 67%
• 10%

An investment in the firm by the owner is called ______________.

• Equity
• Profit
• Recievables
• Margin

A sole proprietorship is where the owner, for legal purposes, is treated the same as the business.

• True
• False

roles of entrepreneurship in the economic development.

• It provides revenue to the garden through taxation.Enterprises can construct roads.Small enterprises make use of idle resources like land
• Presence of marketfinancial status

A(n) ___________ exists if the service or product performs a similar function.

• Trade in
• Substitute
• Elasticity of demand
• Product/service flexibility

Which is true of Interpersonal Communications? (ENT MP 1,2,3,4,5,6,7,8,9,10,11,12,13)

• Highly targeted
• It can be inefficient & costly
• Frequently used in business-to-business marketing
• All of the above

What is an office memorandum?

• Message from one person to another
• Short written form of business communication
• Short speech
• Letter

What is a mission statement in business?

• 1. A list of marketing strategies.
• 2. A brief statement that outlines a company's purpose and fundamental beliefs.
• 3. A government agency.
• 4. A financial statement.

The reason a bank may turn down your loan application is:

• You have not owned a business before
• A start-up business is less likely to default on a loan
• Your business plan is poorly written
• You have invested too much of your own money

IPR stands for? (EN ES 1)

• a. Industrial Policy Resolutions
• b. Industrial Protection Resolutions
• c. Independent Policy Reforms
• d. Income Plan Rewards

What was Sony's successful Corporate Entrepreneurship strategy, mentioned In the article of Dess & Lumpkin (2005)?

• A. Competitive aggressiveness and autonomy
• B. Autonomy and risk-taking
• C. Risk-taking and innovativeness
• D. Innovativeness and competitive aggressiveness

MOST BUSINESSES MAY FACE LEGAL PROBLEMS BECAUSE

• THEY DO NOT FOLLOW PROCEDURES AND RULES

ONE WAY TO OBTAIN INFORMATION ABOUT CUSTOMERS IS

• BY APPLYING TESTS AND QUIZZES
• BY RUNNING A MARKET RESEARCH
• BY PUSHING THEM TO GIVE AWAY INFORMATION
• BY JUST WAITING FOR THEM TO COME TO THE BUSINESS

A major cause for the failure of a new business is a lack of focus on the competitive advantage.

• True
• False

Which out of these are benefits of ethics in business? (EN E 1,2,3,4)

Which one is NOT a disadvantage of Entrepreneurship?

• Risky
• Uncertain Income
• You are the boss
• Work long hours

Blue ocean strategy is achieved only when the whole system of a company's......activities is properly aligned (Kim & Mauborgne, 2004).

What is the purpose of a pitch deck in entrepreneurship?

• 1. To organize office meetings.
• 2. To provide a concise overview of a business to potential investors.
• 3. To sell products directly to customers.
• 4. To create a business plan.

Which is NOt true about direct mail? (ENT MP 1,2,3,4,5,6,7,8,9,10,11,12,13)

• Electronic or Printed
• Cost of production
• Some may not open the mail
• Always successful

Entrepreneurs are motivated by _________. (EN ES 1)

• A. money.
• B. personal values.
• C. pull influences.
• D. All the above.

Consumer promotions are all around us in the form of "coupons, percent-off discounts, free trials and samples, buy one get one free deals, rebates, premiums, ad specialties, and contests and sweepstakes (ENT MP 1,2,3,4,5,6,7,8,9,10,11,12,13)

• True
• False

According to Leifer et al. (200), what are the top managerial concerns in large, established organizations?

• A. Technology
• B. Cooperation
• C. Innovation
• D. Strategy

ALL BUSINESSES FACE THE WHOLE LIST OF PROBLEMS AT THE SAME TIME

• NO
• YES

What is Body Language? (EN CS, 1,2,3,4)

• Postures, gestures, and facial expressions.
• The exchange of information through the use of words.
• Your words say one thing but your body language say another.
• Speak from your point of view.

A product, service, business model, or strategy that's both new and useful

• Innovation

One of the greatest risks to a new business is fast growth.

• True
• False

At which level(s) can the Entrepreneurial Health Audit be applied?

• A. Strategic level
• B. Individual level
• C. Organizational level
• D. B and C

What is a break-even point in business?

• 1. A point at which a business is losing money.
• 2. A point at which a business covers all its costs and begins to make a profit.
• 3. A point at which a business reaches its maximum potential.
• 4. A point at which a business has no competitors.

What are the three underlying dimensions of Entrepreneurship? (Chapter 2)

• A. Commitment, risk taking & proactiveness
• B. Innovativeness, process control & proactiveness
• C. Innovativeness risk taking & reactiveness
• D. Innovativeness, risk taking & proactiveness

Starting a new business could result from a particular event or condition within an individual's environment.

• True
• False

The skewing of results caused by the order in which questions are placed in a survey. It happens if answer choices for questions are not rotated among all surveys given. (ENT MR 1,2,3,4,5,6,7,8,9,10,11,12,13)

• Reliability
• Validity
• Order bias
• Data mining

Which of the following is an example of a fixed cost for a business?

• 1. Cost of raw materials
• 2. Rent for office space
• 3. Marketing expenses
• 4. Employee salaries

People who work for someone else

• Aptitude
• Employee
• Entrepreneurs
• Entrepreneurship

Name two aims of teaching entrepreneurship to students.

• to give students skills of construction and development.
• to give students staling skils.To teach pipo how to thief
• To prepare students to take up successful careers in business.To enhance the development of entrepreneurship culture among students.

Breakeven analysis is mentioned in this type of business plan_________________

• Financial plan

All businesses face the risk of:

• Credit card fraud
• Robbery
• Shoplifting
• Employee theft

A Business Plan is a text document that addresses the concept, customers, and capital for a business. It is used to get investors to buy in to business.

• True
• False

The first section of an external analysis is to:

• Research potential substitutesd. Determine in which industry the new business will compete
• Develop a competitive edge
• Identify potential customers
• Determine in which industry the business will compete

Which Structure is described as followed (according to Miller): Limited hierarchy and highly flexible and innovative structure. Extensive personal interaction. Power is decentralized and authority is linked to expertise:

• A. Simple Structure.
• B. Machine Bureaucracy.
• C. Organic/Adhocracy.
• D. Divisionalized structure.

What is customer retention?

• 1. Acquiring new customers.
• 2. The ability to keep existing customers and encourage them to continue doing business with a company.
• 3
• . A marketing campaign.
• 4. A type of government regulation.

0.02 is read as _____. (EN,BM, 1,2,3,4,5,6,7)

• 2 tens
• 2 hundreds
• 2 tenths
• 2 hundredths

What is the Entrepreneurial Health Audit used for?

• A. Measure companies entrepreneurship?
• B. Measure individuals entrepreneurship?
• C. Measure the end results?

___________ describes those areas of a business that are unique or unusual as compared to standard practices of the industry.

• Competitive map
• Benchmarking
• Unorthodox practices
• Orthodox practices

What type of plan refers to how a company will be organized?

• FINANCIAL
• THEORETICAL
• MARKETING
• MANAGEMENT

Many new businesses are formed as a result of an entrepreneur's previous work experience.

• True
• False

Choose the main motivation of the government to run a public entrepreneurship projects?

• A. to increase the level of public revenue
• B. to make competitive advantages with the private companies
• C. improving the welfare of the population in the country
• D. improving the government position among the population in the country

the study of how people allocate scarce resources to fulfill their unlimited wants

• economics

In a limited liability corporation, a firm can have more than ________ investors.

• 25
• 50
• 75
• 100

Which one do you like?

• Option 1
• Option 2
• Option 3
• Option 4

What type of entrepreneurial business sells products to people other than the final customer?

• Manufacturing
• Wholesaling
• Retailing
• Service

Slotting Allowances do NOT pay for: (ENT MP 1,2,3,4,5,6,7,8,9,10,11,12,13)

• TV Spots
• Penalties for poor sales
• Store advertising
• Display costs

According to Morris et. al.(2011), related to the concept of balance, which characteristics below are not include within company control system?

• A. Management flexibility/inflexibility
• B. Profit tightness/ looseness
• C. Administrative formality/informality
• D. Budgeting tightness/ looseness

Name the main mission (purposes) of the entrepreneurial government?

• A. to create conditions for collective solving the society’s problems and meeting society’s needs
• B. to raise the welfare
• C. to develop partnership with business
• D. to enhance competitiveness

According to Burgelman, on which level is the main and most important motor for corporate entrepreneurship:

• A. Top executives – CEO level
• B. Senior executives – CFO and COO
• C. Operational managers – group leader level
• D. None of the above

Which parts of departments are involved in a new corporate venturing, according to Burgelman (1983):

• A. R&D
• B. Marketing
• C. Business Development
• D. All of the above

What is the purpose of a pitch in entrepreneurship?

• 1. To persuade others to invest in or support your business idea.
• 2. To plan a company picnic.
• 3. To create a business plan.
• 4. To announce the launch of a new product.

What is the "elevator pitch" in entrepreneurship?

• 1. A pitch made in an actual elevator.
• 2. A brief, persuasive speech that you can use to spark interest in what your business does.
• 3. A pitch for a product that only works in elevators.
• 4. A pitch for a business that sells elevators.

Who co-founded Blue Ribbon Sports (BRS) in 1964 with his track coach, Bill Bowerman.​ In 1972, BRS introduced a new brand of athletic footwear called Nike, which is a retail company.​

• Tim Sweeney
• Phil Knight
• Jack Dorsey
• Jeff Beezos

What are the two critical stages a venture idea must pass through? (Article)

• A. Project precision & Momentum
• B. Project definition & Impetus
• C. Project definition & Momentum
• D. Project precision & Impetus

Three Styles of Communication (EN CS, 1,2,3,4)

• Aggressive, Active Listening, communication
• Passive, “I” Messages, Assertive
• Aggressive, passive, and assertive
• None of the above

Document that describes a new business & a strategy to launch that business

• Business Plan

According to the book, the most dangerous situation for a new business is _______

• Uneven grown
• No growth
• Rapid growth
• Slow growth

The most important person in a small business is the founder.

• True
• False

The decision to act entrepreneurially occurs as a result of interactions among organizational characteristics, individual characteristics and some kind of precipitating event, also known as triggers. Those can be grouped into five key ways. Which of the following aspects is not included?

• (a) Is the entrepreneurial event triggered by internal or external developments?
• (b) Is entrepreneurship a response to an opportunity or a threat?
• (c) Is the entrepreneurial event beginning with productivity or R&D?

What is opportunity cost?

• Going with your first option
• Going with the easiest option
• Choosing the best alternative

___________________ shows a very generally held base which tries to consider all the different risk within an organization. (ENT LRM 1,2,3,4,5,6,7,8)

• ISO 31000

What is the lean startup methodology?

• 1. Starting a business with a large budget.
• 2.
• An approach to building and growing startups based on validated learning, scientific experimentation, and iterative product development.
• 3. A type of marketing campaign.
• 4. A method for rapidly expanding a business.

B2B means Business to Business, which is a type of commerce transaction that exists between businesses, such as those involving a manufacturer and wholesaler or retailer. Which of these are examples of B2B? (Select two correct answers)

There are four types of business ownership. Which type of business is owned by stockholders/investors but operated by officers?

• Limited Liability Corporation (LLC)
• Proprietorship
• Partnership
• Corporation

Factors promoting entrepreneurship in Uganda

What is email marketing?

• 1. A type of government agency.
• 2. A marketing strategy that involves sending targeted emails to a list of recipients to promote products or services.
• 3. A list of marketing strategies.
• 4. A document outlining a company's organizational structure.

Money that is left after all the expenses of running a business have been deducted from the income

• Profit

What are pro forma financial statements?

• projections of what the entrepreneur expects out of sales and expenses of the business

a description of how entrepreneurs plan to make money with their business concepts

• business model

a periodical published for a specific type of business or industry

• trade magazine

Entrepreneurship involves four phases. Name the first two

• identifying an opportunity.Developing a business plan
• stealingLying
• lookingfor marketlooking for resources

What is crowdfunding?

• 1. A form of government support for startups.
• 2. A method of raising capital by collecting small amounts of money from a large number of people, typically via the internet.
• 3. A type of marketing strategy.
• 4. A financial statement.

THE PROCESS OF BUSINESS IDENTIFICATION CONSISTS OF

• NONE OF THEM
• BOTH OF THEM
• GOING TO CIVIL REGISTRATION AND GETTING AN ID
• OBTAINING A PLASTIC ID WITH THE NAME

Which ability involves combination of ideas in a unique way?

• Innovation
• Motivation
• Creativity
• Planning

Good sources of information for an entrepreneur about competitors can be obtained from_________. (EN ES 1)

• A. Websites.
• B. Product information leaflets.
• C. Company reports and published accounts.
• D. All the above.

Organizational learning is referred to as:

• A. The acquisition of new knowledge by employees
• B. The unlearning of old routines
• C. The replacing of old knowledge with new routines
• D. All of the above

What is the primary purpose of market research in entrepreneurship?

• 1. To gather information about potential customers and the market to make informed decisions.
• 2. To increase the price of a product.
• 3. To design a logo for the business.
• 4. To hire new employees.

If a small business has employees, the business must have a(n) ____________.

• NAICS Code
• _Selected Employer Identification Number (E. I. N.)
• U.S. Industry Code
• Business Rating Code

What is a focus group in market research?

• 1. A type of marketing campaign.
• 2. A government agency.
• 3. A small group of people who provide feedback on a product or service.
• 4. A list of marketing strategies.

In Georgia, it is recommended that small-business owners apply for a business license that corresponds with any type of business. It takes 2 days and $210 to obtain a business license in Georgia.

• True
• False

____________________ states that individuals act to maximize their own individual benefit.

• Individual benefit theory
• Organizational benefit theory
• Self fulfilling prophesy
• Agency theory

__________ __________ refers to a company's ability to turn customers into repeat buyers and prevent them from switching to a competitor.

• Segmentation Methods
• Customer Referral
• Corporate Structure
• Customer Retention

Emily is a baker. She bakes 24 loaves of bread, and places them into 4 bags. How many loaves are in each bag? (EN,BM, 1,2,3,4,5,6,7)

• 48
• 60
• 6
• 4

What is a call to action (CTA) in marketing?

• 1. A type of government agency.
• 2. A list of marketing strategies.
• 3. A specific instruction or request designed to prompt an immediate response from the audience, such as "Buy now" or "Sign up."
• 4. A document outlining a company's organizational structure.

Which dimensions are critical to the Entrepreneurial Orientation concept according to Dess and Lumpkin (2005)?

• A. Competitive aggressiveness and autonomy
• B. Autonomy and risk-taking
• C. Risk-taking and innovativeness
• D. Innovativeness and competitive aggressiveness

What is marketing automation?

• 1. A type of government agency.
• 2. The use of software and technology to automate repetitive marketing tasks and processes, such as email campaigns and social media posting.
• 3. A list of marketing strategies.
• 4. A document outlining a company's mission and values.

Which one of these options is not included in the disciplines of Discovery Driven Planning?

• A. Developing a business plan
• B. Framing
• C. Benchmarking
• D. Strategic translation

1. The term “Entrepreneur” has been derived from the word “entreprendre” which means: (EN ES 1)

• a. To give
• b. To undertake
• c. To choose
• d. To decide

When a person states his/her position in a firm but positive manner is (EN CS, 1,2,3,4)

• Aggressive
• Assertive
• Passive
• None of the above

What is the selling of a product or service for a profit as means of producing livelihood?

• business

Having less than 50 percent of equity share in an international venture is called:(EN ES 1)

• a) Joint Venture
• b) Majority interest
• c) Minority interest
• d) Exporting

The Entrepreneurial Project Development Framework provides three different internal channels or structural mechanisms listed below, except:

• A) “Mainstream development” projects
• B) “Major expansion” projects
• C) “Emerging potential” projects
• D) “Ray of light” projects

a business that has stopped operating, with a loss to creditors, and one that no longer appears on the tax rolls

• business failure

What is the role of a business analyst?

• 1. To create marketing campaigns.
• 2. To analyze business processes, identify areas for improvement, and recommend solutions to achieve business goals.
• 3. To manage a company's finances.
• 4. To handle employee benefits.

The goal a company wants to achieve with its risk management strategy must be compatible with the overall business objectives. (ENT LRM 1,2,3,4,5,6,7,8)

• True
• False

The first step in choosing a location for a service facility involves answering which of the following questions?: (ENT POM 1,2,3,4,5,6,7,8,9,10,11,12,13,14,15)

• What is the purpose of the service and how will success be measured?
• How many facilities will be constructed?
• Are the potential sites limited due to access, zoning restrictions, labor availability…?
• All of the above questions must be asked.

Net Profit = 500Revenue = 2000Expenses = 1000Cost of Goods Sold = ? (ENT FIS 1,2,3,4,5,6,7,8,9,10,11,12,13)

• 1500
• 1000
• 3000
• 500

Potential generation of new business ideas occur:

• When dismissing a promissing idea
• When copying existing business
• Automatically
• Because of the process of identifying skills and opportunities in the market.

Which is the corporate venture capital investment extending the corporation's presence in product market or technological arenas regarded as strategic to corporation?

Which one of the following is the process of entrepreneurs developing new products that over time make current products obsolete?(EN ES 1)

• a) New business model
• b) Anatomization
• c) None of the given options
• d) Creative destruction

Why can the government be named "strategic entrepreneur", according to the definition in Chapter 5?

• A. there are many government officials who want to raise the welfare level
• B. it has enough resources, capabilities to redistributing them effectively and generate social benefits
• C. strategic entrepreneurship in government organizations raises their current account
• D. government policy provides good conditions to run business

What is a marketing mix?

• 1. A type of marketing campaign.
• 2. A combination of the four Ps: product, price, place, and promotion, used to market a product or service.
• 3. A list of financial transactions.
• 4. A government agency.

An example of an idea for a new startup from a hobby is _________________.

• A sports card collector who bought and sold cards for a year to build a personal collection, deciding to become a sports card dealer.
• A computer salesperson seeing the possibility of opening a new electronic store in a different part of the city.
• A purposeful exploration to find a new idea.
• A baker, who tosses ingredients together to see what they taste like.

What roles do promotions play in marketing? (ENT MP 1,2,3,4,5,6,7,8,9,10,11,12,13)

• Persuade
• Inform
• Remind
• The three roles that promotion plays in marketing are to inform, persuade, and remind consumers about products and services.

It takes four days and $210 to establish a business as a legal unit in the US.​

• True
• False

What word used to mean 'enterpreneur'

• undercover
• bonjour
• undertake
• undertaker

A business structure in the U.S. that protects its owners from personal responsibility for its debts or liabilities

• Limited Liability Company (LLC)

Which one does NOT belongs to the specific reasons of Leveraging motives

• A. to exploit underutilized resources
• B. to extract further value from existing resources
• C. to develop new competencies
• D. to divest noncore activities

What is NOT an example of public relations? (ENT MP 1,2,3,4,5,6,7,8,9,10,11,12,13)

• Media & Press Kit
• Event Marketing
• Celebrity Endorsements
• Guerilla Marketing

What is a formal explanation of a company's goals called?

• MISSION STATEMENT
• PRO FORMA FINANCIAL STATEMENT
• COMPANY DESCRIPTION
• BUSINESS PLAN

According to Cohen (2002), which of the following is/are required for successful practices of corporate entrepreneurship?

• A. Opportunity recognition & pursuit
• B. Setting exploitation strategy
• C. Obtaining key stakeholders support
• D. All

A sole proprietorship is the most complex form of business to establish.

• True
• False

____________ is (are) a brief statement that summarizes how and where the firm will compete in the industry.

• Core values
• Mission statements
• Strategies
• Goal statements

In the creative process people often face with the "creative blocks" that restrict people to be creative. What are the main sources of employee's "creative blocks" in the organization?

• A. Employer, fellow employees, other people
• B. Individual itself, government, competitors
• C. Individual itself, fellow employees, workplace

What does ROI stand for in the context of marketing?

• 1. Return on Ideas
• 2. Return on Influence
• 3. Return on Investment
• 4. Return on Innovation

Getting detailed information about products and services that already exists in the market is considered as market research.

• True
• False

What do values in an organization mean?

• A. The perception of how things actually get accomplished in the company
• B. The things that employees think are worth having or doing, or are intrinsically desirable
• C. Accepted norms and rules in the company
• D. The things that are set in the company and must be accomplished by employees

which of the following not to improve ethics in entrepreneurship? (EN E 1,2,3,4)

• Respect
• Integrity
• oriented
• All of the above

It is critical for a new business to conserve its resources and focus on areas that have the potential to maximize the firms' resources.

• True
• False

Thoughts or concepts that come from creative thinking are called?

• Ideas

There are four types of business ownership. Which type of business is owned and operated by one person?

• Corporation
• Partnership
• Proprietorship
• Limited Liability Corporation (LLC)

What are the key elements of the HRM (Human Resource Management) system to create an entrepreneurial environment?

• A. Recruitment/selection, job planning/design, compensation/rewards
• B. Recruitment/selection, job planning/design, performance appraisals, training/development, compensation/rewards
• C. Job planning/design, training/development

WHAT KIND OF EXTERNAL PROFESSIONALS ARE REQUIRED IN BUSINESSES?

• DOCTORS AND NURSES
• CHEFS AND VETERINARIES
• LAWYERS AND ACCOUNTANTS
• TEACHERS AND PROFESSORS

Searching through large amounts of digital data to find useful patterns or trends. (ENT MR 1,2,3,4,5,6,7,8,9,10,11,12,13)

• Raw data
• Follow-up
• Data analysis
• Data mining

Cash is "king" in small business.

• True
• False

Equity is the value of shares (value of assets ) issued by a company. Who has equity within a company? (Two correct answers)

______________ demonstrates how easy it is for a customer to switch to substitutes.

• Elasticity of demand
• Competitive map
• Trade-ins
• Benchmarking

What is a product prototype?

• 1. A document outlining a company's organizational structure.
• 2. A physical or digital model of a product that is used for testing and evaluation.
• 3. A list of financial transactions.
• 4. A type of government regulation.

In a proposed new business, the financial analysis focuses exclusively upon its ability to generate positive cash flow.

• True
• False

What does the acronym KPI stand for in business?

• 1. Key Product Inventory
• 2. Key Performance Indicator
• 3. Key Partnership Investment
• 4. Key Profit Increase

What is a balance sheet in business?

• 1. A list of marketing strategies.
• 2. A financial statement that shows a company's assets, liabilities, and shareholders' equity at a specific point in time.
• 3. A type of government regulation.
• 4. A document outlining a company's mission and values.

Productivity increases when : (ENT POM 1,2,3,4,5,6,7,8,9,10,11,12,13,14,15)

• Outputs decrease while inputs remain the same.
• Inputs and outputs increase proportionately.
• Inputs decrease while outputs remain the same.
• Inputs increase while outputs remain the same.

Planning, organizing, leading, and controlling are the four __________ of management. (ENT M 1,2,3,4,5,6,7,8,9,10,11,12,13)

• Characteristics
• Functions
• Objectives

How many functions of management do most managers carry out? (ENT M 1,2,3,4,5,6,7,8,9,10,11,12,13)

• Two
• Three
• Four
• One

Primary Data is information collected through original or first-hand research. Secondary Data is information which has been collected in the past by someone else. A marketing survey you posted on Facebook is considered ___________ data

• primary

The amount of revenue for given period of time, which consists of gross sales minus sales return. (Revenue= Gross Sales- Sales Return)Which term describes this statement/equation?

• Incentive
• Net Profit
• Net Sales
• Inventory

A competitive advantage in a business could be ____________________

• Location
• Product selection
• Activity of the firm
• All of the above

A type of young business that develops a unique product or service and bring it to the market

• Startup

What is affiliate marketing?

• 1. A type of government agency.
• 2. A list of marketing strategies.
• 3. A document outlining a company's organizational structure.
• 4. A marketing strategy where individuals or businesses earn a commission for promoting another company's products or services.

A business entity that is separate and distinct from its owners

• Corporation

Which option below is not relevant to HRM (Human Resource Management) entrepreneurial practice of job planning/design?

• A. Broadly defined, with more decision making direction
• B. Long-term orientation in planning and job design
• C. Detailed and overlapping policies and procedures
• D. Less structured

Why should companies establish a corporate venture plan?

• A. To determine the cost of the project
• B. Conveying the essential components of a project or venture
• C. To determine the steps of the process

What is 2/3 of 12? (EN,BM, 1,2,3,4,5,6,7)

• 4
• 6
• 8
• 7

YOU MAY OBTAIN FINANCIAL RESOURCES FROM

• PERSONAL SAVINGS OR A BANK LOAN/CREDIT

What other use is there for the entrepreneurial grid besides applying it to organizations?

• A. Firm Philosophy
• B. External Environment
• C. Individuals
• D. Internal Environment

What is a competitive advantage in business?

• 1. Having no competition.
• 2. Something that sets a business apart from its competitors and gives it an edge in the market.
• 3. Offering the lowest prices in the market.
• 4. Being the largest company in the industry.

What is a

• 1. A list of marketing campaigns.
• 2. A clickable element in marketing materials that prompts the audience to take a specific action, such as "Sign Up" or "Buy Now."
• 3. A type of government regulation.
• 4. A document outlining a company's mission and values.

People who own, operate, and take the risk of a business venture are called?

• Entrepreneurs

Which one of the following is NOT main output of the Strategic entrepreneurship process:

• A. Individual benefits
• B. Organizational benefits
• C. Societal benefits
• D. Governmental benefits

According to the model of Motivation for Entrepreneurial Behavior, "Individual motivation" to be entrepreneurial on the job is a function of three elements. Which of the following elements is NOT part of the model?

• A. Effort spent on entrepreneurial activities
• B. Successful performance evaluation
• C. Change
• D. Reward

What is a customer persona?

• 1. A list of marketing campaigns.
• 2. A type of government regulation.
• 3. A document outlining a company's mission and values.
• 4. A fictional representation of a company's ideal customer, based on research and data.

Marketing feasibility includes the raw material and transportation to be needed in the business

• True
• False

Price, Quality, Location, and Service are characteristics that identify which term?

• Business Opportunity
• Business Milestone
• Brand Recognition
• Brand Marketing

Family members are in a unique position to keep an individual focused on pursuing the wrong approach to an issue.

• True
• False

What is a niche market?

• 1. A market with a large number of competitors.
• 2. A market with no potential for profit.
• 3. A specialized and specific segment of a larger market.
• 4. A market that is entirely virtual.

specially designated areas of a community that provide tax benefits to new business locating there

• enterprise zones

A small business can compete on a cost basis with a larger firm.

• True
• False

What does MVP stand for in the context of entrepreneurship?

• 1. Most Valuable Player
• 2. Minimum Viable Product
• 3. Maximum Value Proposition
• 4. Market Validation Process

There are many conflicting findings about characteristics associated with an entrepreneurial individual. However, consensus has been achieved on 6 characteristics. What are they?

• A. Motivated by achievement, internal locus of control, calculated risk takers, a high tolerance of ambiguity, prefer a degree of autonomy, tenacious and perseverant
• B. Motivated by wealth, power and money, internal locus of control, high risk takers, a high tolerance of ambiguity, prefer a degree of autonomy, tenacious and perseverant
• C. Team players, opportunity oriented, self-confident and optimistic, lack moral or ethics due to their strong desire to succeed, prefer a degree of autonomy, tenacious and perseverant

What type of entrepreneurial business actually produce the products they sell?

• Manufacturing
• Wholesaling
• Retailing
• Service

When one is creating an entrepreneurial work environment one should apply correctly:

• A. Job planning and design, Performance appraisals, Training and development, Compensation and rewards, Recruitment and selection
• B. Cycle time management, Monetary effectiveness, Government overview, Scarce resources
• C. Emphasis on personal gain, Commitment to individuals, Interpersonal stress, Self-confidence, Authority
• D. Greater emotional dependence, Tendency towards group thinking, Effort and responsibility

What term does the image represent?

• Supply Chain
• Harvesting
• Zoning Variance
• Sales Return

What are the three types of corporate venturing?1. Internal2. External3. Uncongested4. Cooperative

• A. 1, 2 & 3
• B. 1,2 & 4
• C. 2,3 & 4
• D. 1,3 & 4

What is customer satisfaction?

• 1. A type of government regulation.
• 2. The degree to which customers are happy with a company's products, services, or overall experience.
• 3. A list of financial transactions.
• 4. A marketing campaign.

Which is NOT a tip for entrepreneurship in the government?

• A. See opportunities instead of challenges
• B. Be proactive
• C. Leaders should encourage innovation
• D. Setting up guidelines

Regarding the Corporate Entrepreneurial Framework, which of the following statements is TRUE?

• A. “Dreaming” refers to the conceptualization of ideas.
• B. “Doing” refers to the conceptualization of ideas.
• C. A successful Corporate Entrepreneur does not combine “dreaming” and “doing”.
• D. The “Doer” has a strong tendency towards visionary thinking.

A person that is overly forceful, pushy, hostile or otherwise attacking in approach is known as (EN CS, 1,2,3,4)

• Asserive
• Active listener
• Aggressive
• Passive

What is a non-disclosure agreement (NDA)?

• 1. A document that publicly discloses all business information.
• 2. A legal contract that protects confidential information from being shared with third parties.
• 3. A marketing strategy.
• 4. A government regulation.

What is NOT true about public relations? (ENT MP 1,2,3,4,5,6,7,8,9,10,11,12,13)

• You do NOT pay for it
• It can be positive or negative. You DO NOT control it.
• The public tends to believe that information from PR is a trusted and reliable resource.
• Public Relations is all about sales.

According to Brikinshaw, J. & Gibson, C. (2004), what kinds of behavior individuals have in ambidextrous organization?

• A. initiative
• B. cooperation
• C. brokering skill
• D. multi-tasking abilities

Which of the following is NOT a common source of startup funding?

• 1. Venture capital
• 2. Bank loans
• 3. Personal connections
• 4. Government grants

What is a target market analysis?

• 1. A document outlining a company's organizational structure.
• 2. A type of marketing campaign.
• 3. An evaluation of the characteristics and needs of potential customers in a specific market segment.
• 4. A financial statement.

Costs incurred by a business for property or equipment are considered what kind of costs?

• Fixed Costs
• Acquisition Costs
• Negotiated Costs
• Operating Costs

What is a marketing automation?

• 1. A type of government agency.
• 2. The use of software and technology to automate repetitive marketing tasks and processes, such as email campaigns and social media posting.
• 3. A list of marketing strategies.
• 4. A document outlining a company's organizational structure.

What is a business strategy?

• 1. A type of marketing campaign.
• 2. A list of financial transactions.
• 3. A government regulation.
• 4. A plan or approach for achieving specific business goals and objectives.

New businesses are more likely to be successful when an entrepreneur creates a product or service before there is a need in the marketplace.

• True
• False

What is inbound marketing?

• 1. A list of marketing strategies.
• 2. A type of government agency.
• 3. A document outlining a company's organizational structure.
• 4. A marketing approach that focuses on creating valuable content and experiences to attract and engage potential customers.

The term for when a new business has reached a level where revenue coming into the firm is sufficient to cover expenses:

• Equal financial ratio
• No risk level
• Risk tolerance
• Break-even point

Which of the following statements concerning the Key Strategic Concepts is NOT correct:

• A. The willingness to rethink continuously and to make adjustments to the firm’s strategies, action plans, and resource allocations is known as strategic positioning.
• B. Innovation is the key to develop and successfully exploit competitive advantages.
• C. The concept of strategic leverage implies that corporate entrepreneurs are not constrained by the resources they currently control or have at their disposal.
• D. Strategic flexibility and adaptation is concerned with how the firm wants to be perceived in the market.

Which one of these characteristics in a NPO is similar to a profit oriented organization?

• A. Purpose
• B. Competition
• C. Life Time cycle
• D. Measuring Performance

The largest group of new business owners is ______________.

• Hispanics
• Retired men
• Women
• Asians

where did the word enterpreneur originate from?

• Spain
• Italy
• France
• Britain

There are three levels of learning effort that organizations can implement to gain the most benefit from each entrepreneurial project, which one is level 1:

• (a) Key project and senior management people hold one or more meetings to discuss the progress of the project.
• (b) The company conducts a full-fledged, in-depth study of the entrepreneurial experience, which will probably require the participation of people from outside the firm to obtain objectivity as well as expertise.
• (c) The project champion writes a report about the experience, including a statement of the most important things learned and recommendations for the future designed to help the firm’s overall entrepreneurial effort.

This helps people solve problems in a logical manner.

• Problem-solving model

The 'empowerment as entitlement' is a core rigidity within one of the following four dimensions (Leonard-Barton, 1992). Which is that dimension?

• A) Skills and knowledge dimension
• B) Values dimension
• C) Technical systems dimension
• D) Management systems dimension

Small-business growth is important in the United States and the world.

• True
• False

What term refers to people that are responsible for running a business? (ENT M 1,2,3,4,5,6,7,8,9,10,11,12,13)

• Stockholders
• Officers
• Management

Which one of these is NOT one of the four general cultural prototypes?

• A. The Tough Guy/Macho Culture
• B. The Bet-the-Company Culture
• C. The Process Culture
• D. The Bureaucratic Culture

The small business owner must have the necessary skills and must understand the marketplace.

• True
• False

According to McGrath and MacMillan, in order to maintain the "entrepreneurial mindset", the manager must assume certain ongoing responsibilities. The first responsibility involves…

• (a) absorb the uncertainty
• (b) frame the challenge
• (c) define gravity

Disadvantages of being an entrepreneur

• Doing business needs alot of energyAn entrepreneur works for long hours and sometimes with no rest.
• It causes sickness
• it causes Poverty
• It causes death

What is market positioning?

• 1. A list of marketing strategies.
• 2. The process of creating an image or identity for a product or brand in the minds of consumers.
• 3. A government agency.
• 4. A type of marketing campaign.

What is a target audience in marketing?

• 1. A group of people attending a concert.
• 2. The specific group of people that a marketing campaign is intended to reach and influence.
• 3. The people who work in the marketing department of a company.
• 4. A type of marketing strategy.

When measuring entrepreneurial performance at organizational level one useful assessment tool is the so-called Entrepreneurial Health Audit, which comprises three steps. Which of the following steps is not included?

• A. Assessing the firm´s Entrepreneurial Intensity
• B. Setting innovation objectives
• C. Create an organization-wide understanding of the CE/Innovation process

It is important to measure a company's entrepreneurial performance because management…

• (a) Can objectively assess the readiness of the organization to participate in CE activities.
• (b) Can satisfy stakeholder’s expectations.
• (c) Can justify the need for rapid innovation.

According to Morris et. al.(2011), what are the content of useful framework in capturing virtually the constraints on entrepreneurial Performance ?

• A. culture, strategy, employees, Structure
• B. Strategic Direction, culture, People, systems, structure, policies
• C. Organization strategy, Control system, Strategic Leadership, culture
• D. all

What are the four main types of organizational context?

• A) Country club, high performance, burnout, and low performance contexts.
• B) Burnout, low performance, average performance, and high performance contexts.
• C) City-wide, countryside, high performance, and low performance contexts.
• D) None of the above.

How a company is organized, which impacts things like legal and tax liability of owners

• Business Structure

An owner, when researching a new business, needs to be aware of, and be able to describe, all potential customers.

• True
• False

The _____________ is a regulation which passed the US Congress in 2002 as a reaction to different financial scandals. (ENT LRM 1,2,3,4,5,6,7,8)

• Sarbanes Oxley Act

Why do we learn entrepreneurship?

What is a business incubator?

• 1. A device used for cooking food in a commercial kitchen.
• 2. An organization that provides resources and support to startups to help them grow.
• 3. A type of insurance for small businesses.
• 4. A financial statement.

Companies will ___________ their knowledge if your business is not a potential competitor.

• Share
• Not share
• Hide
• Distort

What is content marketing?

• 1. A type of government agency.
• 2. A marketing strategy that involves creating and sharing valuable content to attract and engage a target audience.
• 3. A list of marketing strategies.
• 4. A document outlining a company's organizational structure.

All of these are advantages for a small business except:

• Respond quickly to changes
• Owned and run by the same person
• Economies of sale
• Greater flexibility

HR & Block tax service is an example of which type of business?

• Manufacturing
• Wholesaling Business
• Retailing Business
• Service Business

money that is left over after all expenses of running a business have been deducted from the income

• profit

A potential owner must be realistic about its competitors in products and the volume of sales.

• True
• False

What is customer lifetime value (CLV)?

• 1. A list of marketing campaigns.
• 2. A type of government regulation.
• 3. The predicted net profit that a company can earn from a customer over the entire duration of their relationship with the company.
• 4. A document outlining a company's mission and values.

What is a sole proprietorship?

• 1. A type of business owned and operated by a single individual.
• 2. A partnership with multiple owners.
• 3. A publicly traded company.
• 4. A non-profit organization.

Organizational culture involves different components. What are the main components of the organizational culture?

• A. Values, rules of conduct, vocabulary, methodology, ritual, myths, stories
• B. Myths, stories, rituals, vocabulary, methodology
• C. Rules of conduct, methodology

What is a patent?

• 1. A type of business license.
• 2. A government grant giving the inventor exclusive rights to their invention for a certain period.
• 3. A type of marketing campaign.
• 4. A contract between two businesses.

The entrepreneurial organization is built around all of these major portfolios EXCEPT which one?

• A. Portfolio of competencies
• B. Portfolio of networks
• C. Portfolio of innovation
• D. Portfolio of ventures

What is the purpose of a mission statement in business?

• 1. To list all the employees in the company.
• 2. To define the fundamental purpose and values of a company.
• 3. To outline the company's financial goals.
• 4. To create a marketing plan.

What is the role of a board of directors in a corporation?

• 1. To handle day-to-day operations.
• 2. To provide oversight, make strategic decisions, and represent shareholders' interests.
• 3. To manage the company's finances.
• 4. To market the company's products.

Large firms can respond more quickly to changes around them and fill niches better than small businesses.

• True
• False

Revenue = 1000Cost of Goods Sold = 200Expenses = 300Net Profit = ? (ENT FIS 1,2,3,4,5,6,7,8,9,10,11,12,13)

• 800
• 500
• 700
• 300

a periodical published for people with special interests, such as sports, camping, fashion, and a variety of other areas

• specialty magazine

Which one is NOT a dimension of knowledge set that distinguishes and provides a competitive advantage according to Leonard-Barton (1992)?

a gathering or exhibition where vendors and manufacturers introduce new items and promote established products and services

• trade show

______________ is an area of business that uses standards that are necessary for the business.

• Competitive map
• Benchmarking
• Unorthodox practices
• Orthodox practices

Which of the following is NOT an example of an internal challenge for HRM?

• A. Job Analysis
• B. HR planning
• C. Employee recruitment
• D. union pressure

Name the function of management that involves monitoring how the business is performing. (ENT M 1,2,3,4,5,6,7,8,9,10,11,12,13)

• Leading
• Controlling
• Planning
• Organizing

What is a landing page in digital marketing?

• 1. A type of government regulation.
• 2. A list of marketing campaigns.
• 3. A document outlining a company's mission and values.
• 4. A web page designed for a specific marketing or advertising campaign, typically with a call to action (CTA).

An owner, when researching a new business, needs to be aware of all potential customers.

• True
• False

An owner should establish the mission statement and strategies ____________

• Prior to its inception
• At the first day of business
• At the 30 day review
• At the 90 day review

Which of the following is false considering the Entrepreneurial imperatives of strategic leadership discussed in Covin & Slevin (2002) ?

• A. Nourish an entrepreneurial capability
• B. Conform the dominant logic
• C. Protect disruptive innovations

What type of entrepreneurial business sells service instead of a product?

• Manufaturing
• Wholesaling
• Retailing
• Service

The type of Plant and machinery to be taken in a business is mentioned in a marketing plan.

• True
• False

Www.sba.gov/tools/business-plan/1 and http://www.bplans.com are examples of resources available to help entrepreneurs create what?

• BUSINESS PLANS, TEMPLATES, AND OUTLINES

A formal explanation of a company's goals

• MISSION STATEMENT

A small business' harvest plan is to put the profits back into the company.

• True
• False

What is equity in business?

• 1. A type of business loan.
• 2. Ownership interest in a company, typically represented by shares or stock.
• 3. A type of marketing strategy.
• 4. A type of office furniture.

Which definitions among presented below you may refer to Strategic Entrepreneurship? (more than one answer is possible):

"Entrepreneurship as the basis upon which the organization conceptualized and resources are allocated" is one way to create:

• A) Adamant dominant logic
• B) Rigid dominant logic
• C) Organic dominant logic
• D) Dynamic dominant logic

Fifty percent of businesses fail within the first four years.

• True
• False

An entrepreneur cannot leave his or her business due to the amount of money that was invested. This is called a(n) ______________.

• Harvest plan
• Exit strategy
• Benchmarking
• Exit barrier

What is ONE way an entrepreneur can successfully present a well-orchestrated business plan?

• demonstrate the need and value of the business idea

Thinking of a new product or service is an example of…

• A. Relationship Creativity
• B. Event Creativity
• C. Idea Creativity
• D. Inner Creativity

Morris, Kuratko and Covin (2011) explain three main reasons to start their own organization.What is not one of these three main reasons for corporate entrepreneurs to start their own organization?

• A. The organizational politics in my company
• B. The potential to operate on a fairly significant scope and scale fairly quickly
• C. The security I enjoy when working operating in an existing company
• D. The resource base I can tap into

a new business undertaking that involves risk

• venture

People who work for someone else are called?

• Employees

When should an owner ensure there are sufficient financial resources to operate the business?

• Prior to the start
• Opening day
• First payroll
• Six month review

An interest calculation that accrues (sums of money, or benefits, be received by someone in regular or increasing amounts over time) the interest percentage for each of a loan is considered?

• Simple Interest
• Compound Interest
• Partial Interest
• Collection Interest

How do you calculate net profit? (ENT FIS 1,2,3,4,5,6,7,8,9,10,11,12,13)

an organization made up of individuals and businesses in a specific industry that works to promote that industry

• trade association

There are eight principles representing a foundation around which the corporate entrepreneur can design his or her personal model, which of the following is not included:

• (a) Solidify a relationship with a sponsor
• (b) Tend to be overconfident
• (c) Become a guerrilla

Which one is NOT an advantage of Entrepreneurship?

• Can choose a business of interest
• You can be creative
• Make a lot of money
• You will make decisions alone

What is a business plan?

• 1. A list of financial transactions.
• 2. A formal document outlining a company's goals and how it plans to achieve them.
• 3. A ledger for tracking employee attendance.
• 4. A marketing brochure.

Which function of management involves creating goals, objectives, and ways to achieve them? (ENT M 1,2,3,4,5,6,7,8,9,10,11,12,13)

• Organizing
• Planning
• Controlling
• Leading

Which of the following is an example of a unique selling proposition (USP)?

• 1. Offering the same product at a higher price.
• 2. Being the only company in your industry to offer a lifetime warranty.
• 3. Matching the prices of competitors.
• 4. Selling products online and in physical stores.

4. Which type of entrepreneurs utilizes a chance to introduce a new technique or new product? (EN ES 1)

• a. Innovative entrepreneur
• b. Instigated entrepreneur
• c. Initiative entrepreneur
• d. Fabian entrepreneur

Which is not one of the five key company capabilities that lead to a competitive advantage?

• A. Speed
• B. Flexibility
• C. Coordination
• D. Aggressiveness

What is a profit margin?

• 1. The total revenue of a company.
• 2. The percentage difference between the cost of goods sold and the selling price of a product or service.
• 3. The number of employees in a company.
• 4. The amount of profit a company makes in a year.

Consumer Promotions are intended to build brand awareness. (ENT MP 1,2,3,4,5,6,7,8,9,10,11,12,13)

• True
• False

What is a startup?

• 1. A mature and well-established business.
• 2. A newly established business with growth potential.
• 3. A non-profit organization.
• 4. A government agency.

A pro forma is a term describing estimates of what the balance sheets and income statements will look like in the future.

• True
• False

Which one is NOT a step in the problem solving method?

• Define the problem
• Gather information
• Identify solutions
• Ignore the problem

Which one of the following would not generally be considered an aspect of operations management? (ENT POM 1,2,3,4,5,6,7,8,9,10,11,12,13,14,15)

• Work methods
• Secure financial resources
• Maintain quality
• Product or service design

Which of the following does not represent start-up entrepreneurship, but corporate entrepreneurship? (Chapter 2)

• A. Job security
• B. One misstep can mean failure
• C. Entrepreneur takes the risk
• D. Few people to talk to

What is the role of a mentor in entrepreneurship?

• 1. To provide legal advice.
• 2. To offer guidance, support, and expertise to help entrepreneurs succeed.
• 3. To handle all financial matters.
• 4. To perform marketing research.

What 3 types of entrepreneurial activity failures can we distinguish?

• A. Organizational, communicational and personal failure
• B. Psychological, anticipating and personal failure
• C. Moral, uncontrollable and personal failure
• D. Specialized, uncontrollable and encouraged failure

What is a difference between corporate entrepreneurship and start-up entrepreneurship according to Morris, Kuratko and Covin (2011)?

• A. Corporate entrepreneurship is more about opportunity recognition and definition than start-up entrepreneurship
• B. Start-up entrepreneurship requires a harvesting strategy and corporate entrepreneurship not
• C. Start-up entrepreneurship is more vulnerable to outside influence then corporate entrepreneurship
• D. Start-up entrepreneurship is often driven by an individual champion and corporate entrepreneurship not

_________ is the threat to the success of a new business related to its ability to establish and maintain a high margin product or service.

• Profit margin
• Sales generation scheme
• Operational financing
• Deficit gap

There are four types of business ownership. Which type of business has the liability protection of a corporation and it exists as a separate entity much like a corporation. Members cannot be held personally liable for debts unless they have signed a personal guarantee.

• Limited Liability Corporation (LLC)
• Proprietorship
• Partnership
• Corporation

The money business owners require to start, run, or expand a business

• Funding

A set of questions posed to a group of people to determine how that group thinks. (ENT MR 1,2,3,4,5,6,7,8,9,10,11,12,13)

• Observation
• Interview
• Focus Group
• Survey

What are the 4 stages for "Change through Persuasion" according to Garvin & Roberto (2005)?

• A) Product/ Place/ Price/ Promotion
• B) Introduction/ Growth/ Maturity/ Decline
• C) Plan/ Do/ Check/ Act
• D) Setting the Stage/ Creating the Frame/ Managing the Mood/ Reinforcing good Habits

The act of setting up a business with the goal of making profit

• Entrepreneurship

What is a fixed cost?

• Cost that go up and down
• Cost that remain the same
• Measure the disadvantages of production
• Measure advantages of production

What is a marketing objective?

• 1. A type of government regulation.
• 2. A list of marketing campaigns.
• 3. A document outlining a company's mission and values.
• 4. A specific and measurable goal that a marketing campaign aims to achieve.

According to Brikinshaw, J. & Gibson, C. (2004), what is ambidexterity in a company success?

• A. only adaptability
• B. only alignment
• C. either adaptability or alignment
• D. both adaptability and alignment

a business that disappears from the tax rolls because it may be operating under a new name or because the owner has purposely discontinued in order to start a new business

• discontinuance

An individual who provides financial backing for small start-up businesses or entrepreneurs. This individual will often accept a lower return on investment or partial ownership of business. What is this individual called?

• Angel Investor
• Banker
• Debt Collector
• Accountant

What is market segmentation?

• 1. A type of marketing campaign.
• 2. The total number of customers in a market.
• 3. The process of dividing a market into distinct groups of potential customers with similar characteristics and needs.
• 4. A financial statement.

Ownership capital is also known as? (EN ES 1)

• a. Debt
• b. Equity
• c. Loan
• d. Mortgage

Gathering, storing, and using customer data for marketing directly to customers based on their histories. (ENT MR 1,2,3,4,5,6,7,8,9,10,11,12,13)

• Marketing information system
• Database marketing
• Quali
• Quantitative data

What is a partnership in business?

• 1. A type of marketing campaign.
• 2. A business owned and operated by a single individual.
• 3. A business structure in which two or more individuals share ownership and responsibility.
• 4. A government agency.

What is the term for the process of bringing a new product or service to market?

• 1. Market research
• 2. Business development
• 3. Competition analysis
• 4. Product launch

Which of the following is NOT part of the Resource orchestration process:

• A. Structuring
• B. Bundling
• C. Exploitation
• D. Value creation and appropriation

What are the main indicators that a project got a venture status (Burgelman, 1983):

• A. Technical and marketing development has started
• B. The product has been fully commercialized
• C. The project has got general manager and its own budget
• D. The project is fully incorporated into corporation’s concept of strategy

Examples may include salaries, utilities, rent, insurance, and office supplies. (ENT FIS 1,2,3,4,5,6,7,8,9,10,11,12,13)

• Revenue
• Expense
• Net Income
• Net Loss

A service business is a type of business where goods are manufactured and sold to customers.

• True
• False

WHICH TWO STEPS ARE MANDATORY IN THE PROCESS OF STARTING UP A BUSINESS?

• WEB PRESENCE AND BUSINESS PLAN
• LEGAL STRUCTURE AND BUSINESS PLAN
• GOVERNMENT REGULATIONS AND BANK ACCOUNT
• INITIAL CAPITAL AND EXTERNAL HELP

What can be referred to as the "extent to which events are innovative, risky and proactive?"

• A. Frequency of Entrepreneurship
• B. Degree of Entrepreneurship
• C. Level of Entrepreneurship
• D. Intensity of Entrepreneurship

Which function of management involves reviewing the performance of employees? (ENT M 1,2,3,4,5,6,7,8,9,10,11,12,13)

• Organizing
• Planning
• Leading
• Controlling

What is a business exit strategy?

• 1. A plan to exit a physical building.
• 2. A plan for how an entrepreneur will eventually leave or sell the business.
• 3. A marketing strategy.
• 4. A plan for attracting new customers.

A(n) ___________ is an agreement between two parties to perform certain activities for some consideration.

• Contract
• Limited partnership
• Corporation
• Warranty

Covin and Miles hypothesized that firms that embrace entrepreneurship as core to their strategies will…

• A. Outperform those that do not in the long run.
• B. Lose sight of their core business and therefore perform less than those that do not in the long run.
• C. Perform equally as those that do not in the long run.
• D. Failed to prove any connection.

A projection of what an entrepreneur expects out of the sales and expenses of a business

• PRO FORMA FINANCIAL STATEMENTS

According to the 'Entrepreneurial Grid' explained in the book of Morris, Kuratko and Covin (2011), which of the following correspond to the Periodic/Discontinuous Entrepreneurial Intensity?

• A. Virgin
• B. Mc Donald’s
• C. Apple
• D. H&M

Being an entrepreneur requires much more than big ideas. A true entrepreneur possesses a unique cocktail of skills and characteristics that enable them to beat the odds and go after their dreams full throttle. Which characteristic involves being self reliant?

• realistic
• decisive
• leader
• confident

Which criteria is not critical for top-level managers to create an entrepreneurial organization?

• A) Right personnel.
• B) Compelling vision.
• C) Re-examination of company’s strategy.
• D) Pro-entrepreneurial architecture.

Control system can be defined as:

• A) A combination of measures, tools and information that act together to maintain actual performance close to desired performance.
• B) An approach that attempts to change the link between the employee and the company.
• C) The extent to which the organization relies upon explicit mechanisms in guiding resource allocation and employee behavior.
• D) All of the above.

What is the purpose of a business proposal?

• 1. To create a financial statement.
• 2. To outline a specific project or service to potential clients or partners.
• 3. To market a product to consumers.
• 4. To announce the company's annual picnic.

Which form of growth of the business is diversification? (EN ES 1)

• a. External
• b. Vertical
• c. Horizontal
• d. Internal

What is 5% of 20? (EN,BM, 1,2,3,4,5,6,7)

• 1
• 2
• 5
• 10

The following are the examples of environmental issues associated with businesses ethics, EXCEPT? (EN E 1,2,3,4)

• Air pollution
• Water pollutions
• Unsafe workplace
• Toxic waste disposal

What does SWOT analysis stand for?

• 1. Strengths, Weaknesses, Opportunities, Threats
• 2. Sales, Workforce, Operations, Technology
• 3. Strategy, Wealth, Organization, Trends
• 4. Stakeholders, Widgets, Objectives, Tactics

According to the book, the greatest source of sustainable advantage is:

• Personal relationship with the customer
• Location
• Staffing
• Relationship with vendors

Provides insight into what people think about a topic. Comes from research questions that require judgement, instead of "yes or no" answers. (ENT MR 1,2,3,4,5,6,7,8,9,10,11,12,13)

• Qualitative data
• Market research
• Quantitative data
• Database

What is a competitive analysis in marketing?

• 1. A document outlining a company's mission and values.
• 2. An evaluation of a company's competitors and their strengths and weaknesses.
• 3. A list of marketing strategies.
• 4. A type of financial statement.

A situation in which your words say one thing but your body language says another is (EN CS, 1,2,3,4)

• An “I” Message
• A mixed message
• Body Language
• Active listening

What is social media marketing?

• 1. A list of marketing campaigns.
• 2. A marketing strategy that involves using social media platforms to promote products or services.
• 3. A type of government regulation.
• 4. A document outlining a company's mission and values.

Which form of the strategic entrepreneurship has the highest frequency of the entrepreneurial event in general

• A. Strategic renewal
• B. Sustained regeneration
• C. Domain redefinition
• D. Organizational rejuvenation
• E. Business model reconstruction

What is a career?

• this is any job or service a person does for a long period of time to earn income.

________________________ decides what needs to be done and how it will be accomplished (EN,BC,1,2,3,4,5,6,7,8)

• planning
• development
• organization
• control

Below are the powerful forces shaping the new landscape according to Hitt and Reed (2000), Bettis and Hitt (1995), except:

• A. Change
• B. Complexity
• C. Competition
• D. Chaos
• E. Contradiction

An ____________________ is a person who provides the initiative and accepts the risk involved in starting a business.

• entrepreneur

a small group of employees who do similar jobs and meet regularly to identify ways to improve the quality of what they do

• quality circle

This economy is about personal choice. Individuals decide what, how, and for whom products and services are produced.

• Market
• Command

What is venture capital?

• 1. A type of business loan.
• 2. A government agency.
• 3. Investment capital provided by investors to startups and small businesses that have the potential for high growth.
• 4. A type of marketing strategy.

Remaining competitive is very different from achieving sustainable competitive advantage:

• A. Right
• B. Wrong

COGS stands for (ENT FIS 1,2,3,4,5,6,7,8,9,10,11,12,13)

• cost of goods sales
• cost of goods serviced
• cost of goods sold

The dominant operation for a bank is: (ENT POM 1,2,3,4,5,6,7,8,9,10,11,12,13,14,15)

• Processing complaints
• Processing materials
• Processing information
• Processing customers

When there is a difference between managers and owners, profits are a useful measure as a means to evaluate performance.

• True
• False

Which HRM (Human Resource Management) practices are more associated with entrepreneurial orientation (Based on Morris & Jones (1995))?

• A. Performance appraisal and training/development
• B. Job planning/design and performance appraisal
• C. Performance appraisal and compensation/rewards
• D. Compensation/rewards and recruitment/selection

Small business is the foundation for all businesses.

• True
• False

A small business start-up is designed to take advantage of the skills of the founder or founders.

• True
• False

Which of the following would NOT normally be considered a general characteristic of a service? (ENT POM 1,2,3,4,5,6,7,8,9,10,11,12,13,14,15)

• Production and consumption can always be spatially separated.
• Low contact services can often be made more efficient than high contact services.
• Production and consumption are simultaneous.
• Many services involve both tangible and intangible outputs.

According to Morris et.al. (2011), which of the following is the responsibility of Senior Managers?

• A. Championing innovative ideas
• B. Facilitating information
• C. Place "pro-entrepreneurship" organizational architectures
• D. Autonomous actors
• E. C & D

Small business resources are more ____________ than large firms.

• Plentiful
• Constrained
• Restrianed
• Inverse ratio

Michael Porter describes a low-cost strategy as a company seeking to be the lowest cost firm in the industry.

• True
• False

Contextual ambidexterity, when contrasted to structural ambidexterity, can be defined as:

• A) A form of ambidexterity that gives employees an opportunity to choose between adaptation-oriented and alignment-oriented activities performed every day.
• B) A type of ambidexterity that provides a high degree of flexibility to the organization’s systems and structures.
• C) Despite the fact that both structural and contextual ambidexterity differ significantly, both of them must be seen as complementary.
• D) All of the above can be applicable to the concept.

What is a pivot in the context of entrepreneurship?

• 1. A type of dance move.
• 2. A fundamental change in a business strategy or direction.
• 3. A financial investment in a startup.
• 4. A type of marketing campaign.

The extent to which questions address the intended marketing-research topics. (ENT MR 1,2,3,4,5,6,7,8,9,10,11,12,13)

• Validity
• Order bias
• Reliability
• Data mining

Which of the following is used by entrepreneurs to acquire experience in an international market before making a major commitment?(EN ES 1)

• a) Merger
• b) Minority Interest
• c) Joint venture
• d) Majority interest

Which of these factors does not belong to the ways of building an adaptive firm according to Kuratko (2009a)?

• A. Share the entrepreneurial vision
• B. Increase the perception of opportunity
• C. Build a flexible team structure
• D. Institutionalize change as the organization’s goal

What is a marketing strategy?

• 1. A type of government regulation.
• 2. A list of marketing campaigns.
• 3. A plan of action designed to promote and sell a product or service.
• 4. A financial statement.

Shopping malls, Krogers, and Best Buy are examples of a (BLANK) business.

• Retail, Retailing

What management function involves monitoring customer satisfaction? (ENT M 1,2,3,4,5,6,7,8,9,10,11,12,13)

• Planning
• Leading
• Organizing
• Controlling

Mark brings his friends together to generate ideas for his new business. This is called ________.

• Business meeting
• Gap analysis
• Brainstorming
• Focus group

The ability to learn a particular kind of job

• Aptitude
• Employee
• Entrepreneurship
• Entrepreneur

One major aspect of a small business plan, it allows the owner to put information down in writing allowing for evaluation and honest analysis.

• True
• False

A formal agreement made by two or more parties to jointly manage and operate a company

• Partnership

When dealing with disputes you refer to IPR what is it? (EN ES 1)

• a. Industrial Policy Resolutions
• b. Industrial Protection Resolutions
• c. Independent Policy Reforms
• d. Income Plan Rewards

What kind of innovation is referred to as a "dramatic improvement over the existing state-of-the-art solution? (Chapter 3)

• A. Dynamically Continuous Innovation
• B. Continuous Innovation
• C. Discontinuous Innovation
• D. Imitation

3. What is the hallmark of a successful entrepreneur? (EN ES 1)

• a. Risk bearing capacity
• b. Persistence
• c. Flexibility
• d. Self-confidence

Which micro factor is depicted through the given picture?

• Producer
• Customer
• Retailer
• Agent

What is a value proposition?

• 1. A promise of value to be delivered and a belief from the customer that value will be experienced.
• 2. A pricing strategy.
• 3. A trademark registration.
• 4. A marketing slogan.

Influencer marketing is a form of social media marketing involving endorsements and product placement from influencers, people and organizations who have a purported expert level of knowledge or social influence in their field (ENT MP 1,2,3,4,5,6,7,8,9,10,11,12,13)

• True
• False

What is pay-per-click (PPC) advertising?

• 1. A list of marketing campaigns.
• 2. A type of government regulation.
• 3. A document outlining a company's mission and values.
• 4. A digital advertising model where advertisers pay a fee each time their ad is clicked by a user.

Maria assembled widgets M-F as follows: 23, 34, 52, 47, 31She gets paid P4.25 per widget. How much did she get paid? (EN,BM, 1,2,3,4,5,6,7)

• P794.75
• P748
• P770
• P765

Which sentence below is not a principle to effective use of award program to encourage entrepreneurship?

• A. Emphasize success rather than failure
• B. Timing in rewarding an achievement is not crucial
• C. Provide recognition in a personal and honest manner
• D. Tailor the recognition and reward to the unique needs of the people involved

A business that has just one owner who pays personal income tax on profits earned from the business

• Sole Proprietorship

What is influencer marketing?

• 1. A type of government agency.
• 2. A list of marketing strategies.
• 3. A marketing strategy that involves partnering with individuals who have a large and engaged following on social media to promote a product or service.
• 4. A document outlining a company's organizational structure.

_____________ provides you with the opportunity to make money when other businesses cannot easily copy your advantages.

• Orthodox practices
• Unorthodox practices
• Sustainable competitive advantage
• Tangible assets

A corporate venture plan is sometimes referred to as a:

• A. Marketing plan
• B. Business plan
• C. Action plan
• D. None of the above

What part of the business model canvas divides potential customers into categories based on shared attributes and behavior?

• VALUE PROPOSITION
• KEY ACTIVITIES
• CUSTOMER SEGMENT
• CHANNELS

What is a business accelerator?

• 1. A device used for speeding up vehicles.
• 2. An organization that provides a time-limited program of support and mentorship to startups to help them grow quickly.
• 3. A type of marketing agency.
• 4. A type of business insurance.

The quality of providing consistent and dependable measurement and results. (ENT MR 1,2,3,4,5,6,7,8,9,10,11,12,13)

• Validity
• Order bias
• Reliability
• Data mining

Classical risks which can be strategic, financial and operational nature or concern the legal environment, so-called ________________ must be all considered. (ENT LRM 1,2,3,4,5,6,7,8)

• emerging risks

Cost of sales is calculated by... (ENT FIS 1,2,3,4,5,6,7,8,9,10,11,12,13)

• Opening stock + purchases - closing stock
• Opening stock + purchases + closing stock
• Adding up all of the stock bought during the year
• Opening stock - closing stock

Evaluation of your strenghths and weaknesses

• Self Assessment
• Employee
• Entrepreneurship
• Entrepreneur

Emerging risks are global risks. (ENT LRM 1,2,3,4,5,6,7,8)

• True
• False

_Select the ones you like

• Option1
• Option2
• Option3
• Option4

The following can be applied to the concept of "slack":

• A) The degree of looseness in resource availability.
• B) Give up control to gain control.
• C) Budgeting balance.
• D) The degree of looseness in resource availability and budgeting balance.

New business owners do not need to identify customer needs because the competitors already have.

• True
• False

In a benign or controllable external environment, what kind of management style and organizational structure is appropriate and effective? (Slevin and Covin, 1990)

• A) Entrepreneurial and organic
• B) Entrepreneurial and mechanistic
• C) Conservative and organic
• D) Conservative and mechanistic

Which one in these four roles that help to pursuit corporate entrepreneurship success cannot be listed as a Middle Management Role:

• A) Championing.
• B) Implementing.
• C) Facilitating.
• D) Ratifying.

Which of the following is NOT an advantage of entrepreneurship?

• Entrepreneurs are their own bosses
• Entrepreneurs can be creative
• Entrepreneurs take all the risks
• Entrepreneurs can make large sums of money

20% of what number is 16? (EN,BM, 1,2,3,4,5,6,7)

• 80
• 3.2
• 15frac{1}{5}51​
• 0.20

A sustainable competitive advantage is an advantage that other firms cannot immediately copy.

• True
• False

____________ is the analysis of the differences between the predicted and the actual performance of the business.

• Deviation analysis
• Gap analysis
• Margin analysis
• Profit analysis

The legal means to protect intellectual property is ___________.

• Copyright
• Trademark
• Patent
• All of these are correct

Which technique of generating business ideas involves the screening of large amount of information?

• Brainstorming
• Focus Groups
• Environment Scanning
• Market Research

Gathering and analyzing information to help make sound marketing decisions. (ENT MR 1,2,3,4,5,6,7,8,9,10,11,12,13)

• Data
• Marketing Research
• Primary Date
• Survey

Which of the following best defines entrepreneurship?

• 1. The process of starting and managing a business venture.
• 2. The willingness to take risks and create innovative solutions.
• 3. The act of investing in established companies.
• 4. The practice of working as an employee in a large corporation.

People who own, operate, and take risk of a business venture

• Aptitude
• Employee
• Entrepreneurs
• Entrepreneurship

What is a competitive advantage in marketing?

• 1. Offering the lowest prices in the market.
• 2. Having no competition.
• 3. A unique quality or feature that sets a product or brand apart from its competitors.
• 4. A list of marketing campaigns.

What is SWOT in full?

• Stealth window option tilt
• Strength Weakness Opportunity Threats
• Strength Weary Opportunity Treat

Kim and Mauborgne (2004) say that a 'blue ocean' is created when the company's actions favorably affect both its cost structure and its value proposition to buyers. What are these actions?

Cash flow is the positive movement of money into the firm to pay the bills.

• True
• False

What is branding in marketing?

• 1. A type of government regulation.
• 2. The process of managing employee benefits.
• 3. The creation and promotion of a distinct identity for a product, service, or company.
• 4. A financial statement.

A small business owner must possess all of the following except:

• Necessary skills
• In debth understanding of the market
• Passion for starting a business
• Follow a sequential formula

The component of a business plan that reviews what the business is and how it plans to profit is called a what?

• EXECUTIVE SUMMARY

The assets section of a balance sheet includes:

• Fixed assets
• Accounts receivable
• Allowance for uncollectible accounts
• All of these

What is market research?

• 1. The process of gathering and analyzing information about potential customers and the market.
• 2. A list of marketing strategies.
• 3. A government agency.
• 4. A document outlining a company's mission and values.

Established businesses may be hesitant about buying from a start-up small business.

• True
• False

A ________ Market is the group of potential customers to whom a company wants to sell its products and services.

• Fixed
• General
• Target
• Benefits

Pieces of information collected directly by an individual or organization. (ENT MR 1,2,3,4,5,6,7,8,9,10,11,12,13)

• Databa
• Focus
• Primary Data
• Social Trend

What is customer segmentation?

• 1. A type of government agency.
• 2. A list of marketing strategies.
• 3. The process of dividing a company's customers into distinct groups based on shared characteristics or behaviors.
• 4. A document outlining a company's organizational structure.

The mission statement and strategies can be developed after identifying potential customers.

• True
• False

What is entrepreneurship education?

• This is the study that provides students with knowledge and skills starting, managing and maintaining a business
• is a practical business subject that deals in curbing the problem of unemployment in the country .

According to Morris et. al.(2011), some model already developed in term of entrepreneurial control system, what is the model that used to as an approach that attempt to change the link between the employee and the company?

• A. Slack concept
• B. Looseness and tightness model
• C. Open Book Management
• D. Profit Pool Model

__________ is the edge a business has over competing businesses.

• Competitive advantage
• Benchmarking
• Criteria related advantage
• Competitive map

Facts and figures from which conclusions can be drawn. (ENT MR 1,2,3,4,5,6,7,8,9,10,11,12,13)

• Qualitative data
• Market research
• Quantitative data
• Database

A ___________ agreement is a legal agreement that binds one or more parties to non-disclosure of confidential or proprietary information. A confidentiality agreement is often used in situations wherein sensitive corporate information or proprietary knowledge is not to be made available to the general public or to competitors.

• Waiver
• Secret
• Closure
• Confidentiality

the federal agency that provides services to small businesses and new entrepreneurs, including counseling, publications, and financial aid

• small business administration

ESOP involves employees purchasing ownership of a retirement plan from a business owner. What does ESOP stand for?

• Employee Share Ownership Plan
• Entrepreneur Stock Oversight Plan
• Employee Stock Ownership Plan
• Entrepreneur Stock Ownership Plan

Morris, Kuratko and Covin (2011) describe in their book the entrepreneurial process.What is the first step in the entrepreneurial process?

• A. Identifying the opportunity
• B. Defining the business concept
• C. Assessing the resource requirements
• D. Acquiring the necessary resources

What is search engine optimization (SEO)?

• 1. A type of government agency.
• 2. A list of marketing strategies.
• 3. The practice of optimizing a website to rank higher in search engine results pages, increasing organic (non-paid) traffic to the site.
• 4. A document outlining a company's organizational structure.

What is a business model canvas?

• 1. A visual tool used to describe, design, and pivot a business model.
• 2. A type of office furniture.
• 3. A formal business plan.
• 4. A financial statement.

The foremost limitation of the market-pull approach is:

• A. The assumption that customers know their needs.
• B. The assumption that the company knows the customers’ needs.
• C. The assumption that the customers do not know their current needs.
• D. The assumption that the company knows the market potential.

A group that includes a cross section of the entire population that is targeted. (ENT MR 1,2,3,4,5,6,7,8,9,10,11,12,13)

• Marketing research
• Data
• Secondary data
• Representative sampling

What is entrepreneurship?

• this is the thinking of an idea and translating that idea into a good or a service.
• refers to the capacity required to i dentify and generate innovative business ideas.
• Mobilising of resources and organising of production and marketing of the products

What is bootstrapping in entrepreneurship?

• 1. A type of formal business attire.
• 2. Using venture capital to fund a startup.
• 3. Hiring a large workforce from the start.
• 4. Starting and growing a business with little to no external funding.

According to Amabile and Mueller (2008), which of the suggestions below is NOT one of the 3 components of successful creativity in organizations?

• A. Motivation
• B. Authority
• C. Creative Thinking Skills
• D. Expertise

What is a marketing plan?

• 1. A list of financial transactions.
• 2. A document outlining a company's marketing goals and strategies.
• 3. A business pitch.
• 4. A contract between two companies.

Individuals or other organizations that impact the success of a business are called:

• Corporate Managers
• Capitalists
• Stakeholders
• Owners

What is guerrilla marketing?

• 1. A type of government regulation.
• 2. A list of marketing campaigns.
• 3. A document outlining a company's mission and values.
• 4. A creative and unconventional marketing strategy that relies on low-cost tactics to generate buzz and attract attention.

Which organizational structure, according to Miller (1986, 1996), that is characterized by high level of informality, coordination of task accomplished by direct supervision, and all strategies determined at the top?

• A) Simple structure
• B) Organic
• C) Divisional
• D) Machine bureaucracy

Which of these Managers would be least likely to be considered in an operations management role within an organization?: (ENT POM 1,2,3,4,5,6,7,8,9,10,11,12,13,14,15)

• Production Manager
• Reservations Manager
• Financial Risk Manager
• Quality Manager

IN ORDER TO AVOID MARKET PROBLEMS, BUSINESSES MAY

• FAIL AT THE LAUCH
• ORGANIZE A PREMIERE
• SHARE INFORMATION
• SUCCEEDD AT THE LAUNCH

What is business?

• Is the legal economic activity carried out by a person for the purpose of making profits

What is market share in business?

• 1. A type of government agency.
• 2. A list of marketing strategies.
• 3. The percentage of a market's total sales that a company or product holds.
• 4. A document outlining a company's organizational structure.

Which could be common limitations to the corporate entrepreneur?

• A) Time, financial credibility, energy-shared enthusiasm, seed capital.
• B) Energy-shared enthusiasm, time, acquisitions, legitimacy.
• C) Seed capital, time, good workforce members, sponsorships.
• D) Time, financial credibility, seed capital, human resource management.

Possibilities that arise from existing conditions are called?

• Opportunities

Who is a self-made, web developer, and the founder of the social networking site Twitter in 2006?

• Tim Sweeney
• Phil Knight
• Jack Dorsey
• Jeff Beezos

the beliefs and principles by which you choose to live that define who you are, shape your attitudes and choices, and help you identify your priorities

• values

A business organized for purposes other than generating profit

• Nonprofit

Risk management is understood to be an executive function. (ENT LRM 1,2,3,4,5,6,7,8)

• True
• False

The major problematic issues of control initiatives are the following:

• A) Stress conformity, inflexibility, formal rules, emphasis on feedback.
• B) Trust, slowness, means-end, efficiency-effectiveness.
• C) Objectives, production schedules, budgets, efficiency measures.
• D) None of the above.

What type of entrepreneurial business sells products directly to the people who use or consume them?

• Manufacturing
• Wholesaling
• Retailing
• Service

What are the four components of the business process? (EN,BC,1,2,3,4,5,6,7,8)

• production, marketing, management, finance
• sales, marketing, public relations, finance
• consumer, product, development, profit
• control, plan, e-commerce, recall

What is viral marketing?

• 1. A list of marketing campaigns.
• 2. A marketing strategy that relies on word-of-mouth and social sharing to create buzz and spread a message or content rapidly.
• 3. A type of government regulation.
• 4. A document outlining a company's mission and values.

Which of the following is a positive aspect of a purely collective corporate culture?

• A. Employee develops stronger self-concept and has more self-confidence
• B. Individuals treated as equals
• C. Stronger sense of personal responsibility for performance outcomes
• D. Linkage between personal effort and rewards create greater sense of equity

Which are the six entrepreneurial activities of middle-level managers?

• A) Endorse, Shepherd, Acquire, Refine, Identify, Employ.
• B) Endorse, Refine, Shepherd, Identify, Acquire, Deploy.
• C) Endorse, Refine, Shepherd, Innovate, Acquire, Deploy.
• D) Endorse, Refine, Shepherd, Identify, Employ, Innovate.

The potential entrepreneur needs to consider ____________ when starting a new business.

• Risk tolerence
• Prior experience
• Personality orientation
• All of these answers are correct

What is a brand identity?

• 1. A list of marketing campaigns.
• 2. A type of government regulation.
• 3. The visual and emotional representation of a brand, including its logo, colors, and messaging.
• 4. A document outlining a company's mission and values.

The importance of ethics in entrepreneurship are include (EN E 1,2,3,4)

• attract employees to the firm's products and boosting the sales and profit
• make customers want to stay with the company and reduce turnover.
• attract investors and keep the company's share price high
• none of the above

Out of the four documents used in discovery-driven planning which of the following is NOT included?

• A) Key assumptions check list
• B) Pro forma operation specs
• C) Reverse cash flow statement

There are three stage-gates in the process for innovation projects. Two of these are: the definition stage and the commercialization stage. What is the third stage?

• (a) Planning stage
• (b) Testing stage
• (c) Production stage

A brief overview of the company including the business name, a summary of the business, and location of the business

• COMPANY DESCRIPTION

Which of the following are different terms for fixed costs? (ENT FIS 1,2,3,4,5,6,7,8,9,10,11,12,13)

Choose the examples of the public entrepreneurship?The organization which give free food for poor peopleMadonna is looking to adopt a child from 3rd world countryAustralian Red CrossFree parking places for people who are under 65 years old

• A. 1&3
• B. 1&4
• C. 2&3
• D. 1,2 & 3

What is ONE question that an entrepreneur should ask themselves to determine a venture's human resources needs?

• Will the entrepreneur be the only employee?

What is a franchise?

• 1. A business model in which individuals purchase the right to operate a branch of an established company.
• 2. A type of government agency.
• 3. A type of marketing strategy.
• 4. A form of venture capital.

Being an entrepreneur requires much more than big ideas. A true entrepreneur possesses a unique cocktail of skills and characteristics that enable them to beat the odds and go after their dreams full throttle. Which characteristic involves choosing a course of action?

• risk taker
• leader
• decisive
• creative

"The ability of a firm to recognize the value of new, external information, assimilate it, and apply it to commercial ends" defines the concept of

• (a) Path dependency
• (b) Absorptive capacity
• (c) Discovery-driven planning

This step contains the risk politics of the organization, order and liability. (ENT LRM 1,2,3,4,5,6,7,8)

• plan

A small business may also be referred to as a "mom and pop" business? (EN,BC,1,2,3,4,5,6,7,8)

• true
• false

Additional information that may be needed about the business venture is often included in what section of a business plan?

• EXECUTIVE SUMMARY
• APPENDIX
• OPERATING PLAN
• MISSION STATMENT

What is from the list below address to business model basic questions? (more than one answer is possible):

• A. What transport documentation templates we use?
• B. What is the market for product?
• C. What transport we use to deliver our product?

Two types of communication are: (EN CS, 1,2,3,4)

• Verbs and Nouns
• Verbal and information
• Verbal and non-verbal
• Happy and sad

This image is representation of which process?

• Business Testing Process
• Linear Process
• Element of Design Thinking Process
• Test and Design Thinking Process

PEC Personal Entrepreneurship CharacteristicsName four of them

What is cash flow in business?

• 1. The physical movement of cash in and out of a business.
• 2. The inflow and outflow of money in a business, including revenue and expenses.
• 3. The total value of a company's assets.
• 4. The amount of money a business owes to its creditors.

Listen to the audio and identify which product advertisement does this audio belong to? (EN E 1,2,3,4)

• Pepsi
• KFC
• Cadbury Silk
• Adidas

What could be examples of political tactics?

• A) Educational, outsourcing, rule-oriented, personal-political.
• B) Rule-oriented, educational, seed capital, personal-political.
• C) Rule-oriented, educational, rule-evading, personal-political.
• D) Rule-oriented, personal-political, educational, financial credibility.

This is a creative problem solving technique that involves generating a large number of fresh ideas.

• Brainstorming

Which function of management requires leaders to provide a direction and vision for a business? (ENT M 1,2,3,4,5,6,7,8,9,10,11,12,13)

• Leading
• Planning
• Organizing
• Controlling

Choose the right sentence:

• A. External changes influence internal operation
• B. Internal changes influence external turbulence
• C. External environment is not causing internal turbulences
• D. Internal operation cause external change

What is a marketing budget?

• 1. A document outlining a company's organizational structure.
• 2. A type of government regulation.
• 3. A list of marketing campaigns.
• 4. A financial plan that outlines how much a company will spend on marketing activities.

Public businesses are motivated to earn a profit? (EN,BC,1,2,3,4,5,6,7,8)

• true
• false

What type of economy allows the goverment to determine what, how, and whom products and services are produced?

• Command
• Market

When we speak of ambidexterity in a company, it means that:

• (a) The company combines its customers in both B2C and B2B
• (b) The company combines constant incremental improvement and radical innovation
• (c) The company combines a strategy for the long term and short term

Which one of the following is not a typical question dealt with by an operations managers? (ENT POM 1,2,3,4,5,6,7,8,9,10,11,12,13,14,15)

• How much capacity will be needed in the months ahead?
• What is a satisfactory location for a new facility?
• Which products/services should be offered?
• How to motivate employees?

The process of generating new business ideas is something that occurs automatically.

• True
• False

Who makes the decisions that middle managers carry out? (ENT M 1,2,3,4,5,6,7,8,9,10,11,12,13)

• Operational Managers
• Top-Level Managers

Which of these would an operations manager not be responsible for?: (ENT POM 1,2,3,4,5,6,7,8,9,10,11,12,13,14,15)

• Safety and maintenance
• Sales and marketing
• _Selecting suppliers
• Recruiting employees

What is the worst problem which might occur if the product is commercialized to not fully finished during Strategic forcing phase ((Burgelman, 1983)?

• A. The product doesn’t sell well
• B. Venture manager might get fired
• C. Company might lose a lot of money while fixing not properly working products
• D. The product might be not compatible with other company’s products

What is a trademark?

• 1. A legally registered symbol or name that represents a brand or company.
• 2. A type of business loan.
• 3. A marketing campaign.
• 4. A financial statement.

In recent years, the limited liability corporation has become one of the most popular legal forms of ownership for small businesses.

• True
• False

The patterns of change in society as a whole. They often lead to changes in consumer behavior. (ENT MR 1,2,3,4,5,6,7,8,9,10,11,12,13)

• Marketing trend
• Secondary Data
• Observation
• Social trend

What kind of purpose does a NPO has?

• A. Social
• B. Charity
• C. Power
• D. Money

There are two kinds of technologies distinguished by Christensen (1997):

• A) Evolutionary and Revolutionary
• B) Sustaining and Disruptive
• C) Short-term and Long-term
• D) Incremental and Radical
• E) Improvement and Breakthrough

All of the following are important types of insurance for your business except:

• Casual insurance
• Workers' compensation
• Life insurance
• Property insurance

Break-even analysis is the estimation of when a business's income exceeds its expenses.

• True
• False

Which of the following type of plan helps in communicating with the investors for procurement of finance?

• Organizational Plan
• Marketing Plan
• Business Plan
• Production Plan

What is not a characteristic of how organization performance is measured in the 'Corporate Entrepreneurship'- model of Morris, Kuratko and Covin (2011)?

• A. Efficiency
• B. Rewards
• C. Effectiveness
• D. Stakeholder satisfaction

Company's strategy and culture is nothing to do in risk management. (ENT LRM 1,2,3,4,5,6,7,8)

• True
• False

Name the last two phases of entrepreneurship

• corrupting the businessStealing from the suppliers
• determining the resources requiredmanaging the planned business
• .......yejgvadhvjhfdm

an idea that has commercial value when consumers are ready and willing to buy that product

• opportunity

State of confusion about what is ethically right or wrong. (EN E 1,2,3,4)

• Ethical Dilemma

An evaluation of your strengths and weaknesses are called?

• Self Assessment

Your ability to learn a particular kind of job, or a natural ability is called?

• Aptitude

What are the 4 major policy areas when talking about the components of structure (according to Galbraith):

• A. Specialization, shape, distribution of power, and departmentalization.
• B. Non-specialized, shape, centralization of power, and departmentalization.
• C. Specialization, shape, distribution of products, and departmentalization.
• D. Non-specialized, shape, distribution of power, and officementalization.

Primary Data is information collected through original or first-hand research. Secondary Data is information which has been collected in the past by someone else. Demographic data you obtained from the government is considered ___________ data

• secondary

Give the three guides were published for the successful application of the ISO 31000. (ENT LRM 1,2,3,4,5,6,7,8)

The process of running a business of one's own is called?

• Entrepreneurship

A strategy for how a business will generate revenue

• MARKETING PLAN

Informing a new business, the first thing a founder should do is:

• Analyze the market
• List their personal skill set
• Obtain financial support
• Hire a lawyer

Gross profit is calculated by... (ENT FIS 1,2,3,4,5,6,7,8,9,10,11,12,13)

• Revenue - Total Costs
• Revenue + Variable Costs
• Revenue - Cost of Sales
• Revenue - Fixed Costs

Strategy Audit is included in Internal Control System of ERM. (ENT LRM 1,2,3,4,5,6,7,8)

• True
• False

The importance of a feasibility study is judged in terms of-

• Idea viability
• Growth
• Sustainability
• Strategic Planning

What is an exit strategy in entrepreneurship?

• 1. A plan to exit a physical building.
• 2. A plan for how an entrepreneur will eventually leave or sell the business.
• 3. A marketing strategy.
• 4. A plan for attracting new customers.

Good listening skills include what? (EN CS, 1,2,3,4)

• Smiling and waving at people
• Yelling loud at people
• Writing in slang.
• None the above.

A BUSINESS PLAN IS

• A SERIES OF ORGANIZED STEPS
• A PERSONAL PROJECT
• AN IDEA FOR AN ENTREPRENEURSHIP
• A PIECE OF HOMEWORK

One advantage that a large firm has over a small firm is economies of scale.

• True
• False

A customer of a small business could be considered an important stakeholder to the success of a company.

• True
• False

A brief speech that defines a person, process, product, service, organization, or event and its value

• Pitch

the process of recognizing an opportunity, testing it in the market, and gathering resources necessary to go into business

• entrepreneurship

Integrity in business means (EN E 1,2,3,4)

• To be honest and forthright with one another and with customers, communities, suppliers, and other stakeholders.
• To say what you mean, to deliver what you promise, and to stand up for what is right.
• To obey all laws of the countries where you do business
• To treat others with dignity and fairness

A business that has fewer employees and less annual revenue than corporations or other larger businesses.

• Small business

A small business owner must understand when an opportunity for a new business is truly an opportunity.

• True
• False

The mission of a business needs to be actionable, which means assist employees to make decisions.

• True
• False

What are the two measures used to evaluate whether a person or firm is meeting its goals?

• Orthodox and Unorthodox
• Qualitative and Quantitative
• Actionable and Nonactionable
• Tangible and intangible

Information, statistics, or other type of data that already exists. Someone has already collected the information, but others can use it. (ENT MR 1,2,3,4,5,6,7,8,9,10,11,12,13)

• Market research
• Primary data
• Variable
• Secondary data

There are two dominant approaches of innovation processes. Those are …

• A) Supply side and demand side
• B) Technology-push and market-pull
• C) Innovation-led and invention-driven
• D) Creativity-based and serendipity-based

Being an entrepreneur requires much more than big ideas. A true entrepreneur possesses a unique cocktail of skills and characteristics that enable them to beat the odds and go after their dreams full throttle. Which characteristic involves being a visionary and not a dreamer?

• realistic
• confident
• decisive
• leader

A pattern of change in consumer behavior that leads to changes in the marketing mix. Often combines research on customers, competition, and possible opportunities. (ENT MR 1,2,3,4,5,6,7,8,9,10,11,12,13)

• Primary
• Marketing trend
• Secondary data
• Focus group

Which of the following is a remedy to solve the problems of women entrepreneurs? (EN ES 1)

• a. Social attitude
• b. Finance cells
• c. Stiff Competition
• d. Supervision

a clear and concise description of a business opportunity

• business concept

Which element does the concept of Cycling NOT involve?

• A. Effective entrepreneurial
• B. Unstructured unadventurous
• C. Conservative hesitant

TWO OF THE POSSIBLE PROBLEMS FOR START UPS MAY BE

• LACK OF WATER AND ELECTRICITY
• LOCATION AND POOR INFORMATION FROM CUSTOMERS
• TOO MUCH SUCCESS AT THE BEGINNING
• EXCESSIVE FINANCIAL RESOURCES TO MANAGE

Money loaned to a business with the understanding that the money will be repaid, with interest, in a certain time period is:

• Equity capital
• A loan guarantee
• Venture capital
• Debt capital

the capital, skilled labor, management expertise, legal and financial advice, facility, equipment, and customers needed to start a business

• start-up resources

At a movie premiere, the number of children, men and women who attended were in the ratio 2:3:4. If 236 children watched the premiere, how many persons were in the audience? (EN,BM, 1,2,3,4,5,6,7)

• 826
• 1500
• 980
• 1062

What is a call-to-action (CTA) button?

• 1. A list of marketing campaigns.
• 2. A clickable element in marketing materials that prompts the audience to take a specific action, such as "Sign Up" or "Buy Now."
• 3. A type of government regulation.
• 4. A document outlining a company's mission and values.

If you own your own business you will need to know how to calculate your profit. Which one is a calculation of profit?

• Sales-months in a year
• Sales-expenses
• Total sales-expenses
• Monthly sales* expenses

________ costs are costs to a business, such as rent, that are constant whatever the quantity of goods or services produced.Fill in the blank from the word bank.Word Bank: Variable, Fixed, Simple, Normal

• Fixed

What are the characteristics of the organizational culture?

• A. Emotional aspect, individualism, static
• B. Clarity, dynamic, collectivism
• C. Collectivism, emotional aspect, dynamic, inherently symbolic, fuzziness
• D. Identity, individualism, ambiguity

What is a target market?

• 1. A shooting range for archery.
• 2. A specific group of potential customers that a business aims to reach.
• 3. A market with no competition.
• 4. A market that is entirely virtual.

A group of people brought together to discuss a specific topic. Usually consist of 6-9 people (ENT MR 1,2,3,4,5,6,7,8,9,10,11,12,13)

• Observation
• Interview
• Focus group
• Survey

The owner must be aware of his own tolerance of risk and establish a business that is consistent with that tolerance.

• True
• False

Which of these statements accurately captures a current trend in operations? (ENT POM 1,2,3,4,5,6,7,8,9,10,11,12,13,14,15)

• Cost competition is more important than any other basis for competition
• There is increased focus on local markets and local competition.
• Products and services are designed more quickly and by teams.
• Jobs are increasingly specialized as workers focus on basic assembly tasks

A Pitch Deck is a brief presentation, often created using PowerPoint, Keynote or Prezi, used to provide your audience with a quick overview of your business plan. It is usually 10-20 slides, highly visual, and used to get investors attention. True or False?

• True
• False

If a business doesn’t have a habit of breaking the law, it doesn’t need a permanent lawyer in staff. Most businesses need legal services several times a year. A contract with a law company is a good way to get qualified legal aid. You have to pay only for solving your legal issue. What is this an example of?

• Opportunity
• Separation of Duties
• Networking
• Outsourcing

What is a variable cost?

• Cost that go up and down
• Cost that remain the same
• Measures the disadvantages of production
• Measures advantages of production

the infrastructure or foundation that supports all the products, processes, and services of a new business

• new venture organization

Two Advantages of being an entrepreneur

Which of the following is considered a speaking skill? (EN CS, 1,2,3,4)

• Make clear, simple statements
• Paying attention
• Rereading your words before you send a message

Which of the following is NOT a characteristic of a business plan?

• PRESENTATION OUTLINE
• COVER PAGE
• OPERATING PLAN
• OWNER'S CREDENTIALS

The Blue Ocean Strategy implies to…:

• A. Create uncontested market space, break the value/cost trade-off, make the competition irrelevant.
• B. Create uncontested market space, break the value/cost trade-off, beat the competition.
• C. Create uncontested market space, make the value/cost trade-off, create and capture new demand.
• D. Create uncontested market space, make the value/cost trade-off, make the competition irrelevant

What is referred to as "the strategy-making practices that businesses use to identify and launch corporate ventures"? (Article)

• A. Entrepreneurial Assimilation
• B. Entrepreneurial Positioning
• C. Entrepreneurial Orientation
• D. Entrepreneurial Adaption

The new landscape is characterized by the following four forces:

• A. Change confusion, chaos and complication
• B. Change, complexity, chaos and contradiction
• C. Change, confusion, chaos and contradiction
• D. Change, complexity, chaos and complication

A business owner should never change its mission statement or strategy.

• True
• False