New Venture Creation: Entrepreneurship for the 21st Century 10th Edition by Stephen Spinelli test ba

 
31.
Briefly discuss the role of angel investors in the creation of new ventures. 
 



 

 

 

 
32.
Briefly discuss the role of successful American entrepreneurs as philanthropists. 
 



 

 

 

 
33.
Explain the four entrepreneurial transformations that are changing the world. 
 



 

 

 

 
34.
How do entrepreneurial faculties drive the rapid explosion of entrepreneurship? 
 



 

 

 

 
35.
Describe a typical American entrepreneur. 
 



 

 

 

 




Chapter 1 Key
 
1.
(p. 05)
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

 
Accessibility: Keyboard Navigation
Blooms: Remember
Level of Difficulty: 1 Easy
Spinelli - Chapter 01 #1
 

 
2.
(p. 05)
Gearing entrepreneurs for competitiveness is likely to hinder the process of entrepreneurial revolution. 
 
FALSE

 
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Blooms: Remember
Level of Difficulty: 1 Easy
Spinelli - Chapter 01 #2
 

 
3.
(p. 05)
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. 
 
FALSE

 
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Blooms: Remember
Level of Difficulty: 1 Easy
Spinelli - Chapter 01 #3
 

 
4.
(p. 06)
Entrepreneurship educators believe that expertise, wisdom, and knowledge are housed solely in the faculty brain or in the library. 
 
FALSE

 
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Blooms: Remember
Level of Difficulty: 1 Easy
Spinelli - Chapter 01 #4
 

 
5.
(p. 06)
The best entrepreneurship faculties are generally able to determine in advance who among their incoming students will be the most effective entrepreneurs. 
 
FALSE

 
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Blooms: Remember
Level of Difficulty: 1 Easy
Spinelli - Chapter 01 #5
 

 
6.
(p. 07)
David Birch, an MIT researcher, found that new and growing smaller firms had little effect on the economy as a whole. 
 
FALSE

 
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Blooms: Remember
Level of Difficulty: 1 Easy
Spinelli - Chapter 01 #6
 

 
7.
(p. 08)
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

 
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Blooms: Remember
Level of Difficulty: 1 Easy
Spinelli - Chapter 01 #7
 

 
8.
(p. 08)
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. 
 
FALSE

 
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Blooms: Remember
Level of Difficulty: 1 Easy
Spinelli - Chapter 01 #8
 

 
9.
(p. 08)
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. 
 
FALSE

 
Accessibility: Keyboard Navigation
Blooms: Remember
Level of Difficulty: 1 Easy
Spinelli - Chapter 01 #9
 

 
10.
(p. 09)
According to a study conducted in 2006, the self-employed report the lowest levels of personal satisfaction, challenge, pride, and remuneration. 
 
FALSE

 
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Blooms: Remember
Level of Difficulty: 1 Easy
Spinelli - Chapter 01 #10
 

 
11.
(p. 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.