New Venture Creation: Entrepreneurship for the 21st Century 10th Edition by Stephen Spinelli test ba
Chapter 1
Student: ___________________________________________________________________________
1.
According to Thomas Friedman, his book titled "The World is Flat" refers to the convergence of technology and world events that are playing a role in bringing about significant changes in traditional value chains.
True False
2.
Gearing entrepreneurs for competitiveness is likely to hinder the process of entrepreneurial revolution.
True False
3.
Entrepreneurship training works well in schools of business and engineering, but it has not proven to be useful in fields such as architecture, medicine, and life sciences.
True False
4.
Entrepreneurship educators believe that expertise, wisdom, and knowledge are housed solely in the faculty brain or in the library.
True False
5.
The best entrepreneurship faculties are generally able to determine in advance who among their incoming students will be the most effective entrepreneurs.
True False
6.
David Birch, an MIT researcher, found that new and growing smaller firms had little effect on the economy as a whole.
True False
7.
According to the U.S. Small Business Administration's Office of Advocacy, small firms accounted for all of the net new jobs in 2010.
True False
8.
A 2010 report by The Guardian Life Small Business Research Institute indicated that women-owned businesses have been steadily decreasing over the past few decades.
True False
9.
While various surveys of high school seniors indicate a strong interest in entrepreneurship, a 2004 Gallup Poll showed that a large percentage of American parents would prefer that their children pursue a less risky career.
True False
10.
According to a study conducted in 2006, the self-employed report the lowest levels of personal satisfaction, challenge, pride, and remuneration.
True False
11.
Research in the 1980s and 1990s found that since World War II, small entrepreneurial firms have been responsible for half of all innovation and a large percentage of all radical innovation in the United States.
True False
12.
Studies indicate that smaller firms generate twice as many innovations per research and development (R&D) dollar spent as the established multinationals.
True False
13.
Value creation is a linear process as it requires a short-term perspective.
True False
14.
Entrepreneurship will result in equal incomes among the masses.
True False
15.
When the entrepreneurial process will take over, it will result in economic expansion and accompanying social mobility.
True False
16.
Rick, an entrepreneur, is in the process of selecting a manager for his new venture. To successfully run the venture, who is he most likely to select?
A.
Fiona, who prefers minimal investment in human resources
B.
Saeed, who complements the needs of the venture
C.
Garcia, who views change and ambiguity as detrimental for the venture
D.
Maria, who has a different vision for the venture
17.
Which of the following is a critical factor in enhancing entrepreneurship?
A.
Restricting entrepreneurship at the regional level
B.
Discouraging entrepreneurs from expressing competitiveness
C.
Reducing restrictions that block the flow of finance
D.
Removing programs based on "learning by doing"
18.
Which of the following is an entrepreneurial transformation that is changing the world?
A.
Entrepreneurship is now being discouraged in corporate America.
B.
Entrepreneurship topics and related issues are being removed from the curricula of business schools as they are self-taught.
Student: ___________________________________________________________________________
1.
According to Thomas Friedman, his book titled "The World is Flat" refers to the convergence of technology and world events that are playing a role in bringing about significant changes in traditional value chains.
True False
2.
Gearing entrepreneurs for competitiveness is likely to hinder the process of entrepreneurial revolution.
True False
3.
Entrepreneurship training works well in schools of business and engineering, but it has not proven to be useful in fields such as architecture, medicine, and life sciences.
True False
4.
Entrepreneurship educators believe that expertise, wisdom, and knowledge are housed solely in the faculty brain or in the library.
True False
5.
The best entrepreneurship faculties are generally able to determine in advance who among their incoming students will be the most effective entrepreneurs.
True False
6.
David Birch, an MIT researcher, found that new and growing smaller firms had little effect on the economy as a whole.
True False
7.
According to the U.S. Small Business Administration's Office of Advocacy, small firms accounted for all of the net new jobs in 2010.
True False
8.
A 2010 report by The Guardian Life Small Business Research Institute indicated that women-owned businesses have been steadily decreasing over the past few decades.
True False
9.
While various surveys of high school seniors indicate a strong interest in entrepreneurship, a 2004 Gallup Poll showed that a large percentage of American parents would prefer that their children pursue a less risky career.
True False
10.
According to a study conducted in 2006, the self-employed report the lowest levels of personal satisfaction, challenge, pride, and remuneration.
True False
11.
Research in the 1980s and 1990s found that since World War II, small entrepreneurial firms have been responsible for half of all innovation and a large percentage of all radical innovation in the United States.
True False
12.
Studies indicate that smaller firms generate twice as many innovations per research and development (R&D) dollar spent as the established multinationals.
True False
13.
Value creation is a linear process as it requires a short-term perspective.
True False
14.
Entrepreneurship will result in equal incomes among the masses.
True False
15.
When the entrepreneurial process will take over, it will result in economic expansion and accompanying social mobility.
True False
16.
Rick, an entrepreneur, is in the process of selecting a manager for his new venture. To successfully run the venture, who is he most likely to select?
A.
Fiona, who prefers minimal investment in human resources
B.
Saeed, who complements the needs of the venture
C.
Garcia, who views change and ambiguity as detrimental for the venture
D.
Maria, who has a different vision for the venture
17.
Which of the following is a critical factor in enhancing entrepreneurship?
A.
Restricting entrepreneurship at the regional level
B.
Discouraging entrepreneurs from expressing competitiveness
C.
Reducing restrictions that block the flow of finance
D.
Removing programs based on "learning by doing"
18.
Which of the following is an entrepreneurial transformation that is changing the world?
A.
Entrepreneurship is now being discouraged in corporate America.
B.
Entrepreneurship topics and related issues are being removed from the curricula of business schools as they are self-taught.
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