New Venture Creation: Entrepreneurship for the 21st Century 9th Edition by Stephen Spinelli test ban

 

 
18.
(p. 10)
Innovation + Entrepreneurship = Prosperity and ________. 
 
Philanthropy

 
Blooms: Remember
Difficulty: 1 Easy
Spinelli - Chapter 01 #18
 

 
19.
(p. 11, 20)
Entrepreneurship is a proven force of economic and social ________. 
 
mobility

 
Blooms: Remember
Difficulty: 1 Easy
Spinelli - Chapter 01 #19
 

 
20.
(p. 18)
When successful entrepreneurs get involved with non-profits directly by offering strategic assistance (like long-term planning, board and executive recruitment, coaching, and leveraging relationships to identify additional resources and facilitate partnerships), this is referred to as ________ philanthropy. 
 
high engagement

 
Blooms: Remember
Difficulty: 2 Medium
Spinelli - Chapter 01 #20
 

 
21.
(p. 19)
While the U.S. investment and capital markets have been an integral part of the entrepreneurial revolution in the U.S., it is more important to recognize the long-term ________ of the system. 
 
resilience

 
Blooms: Remember
Difficulty: 1 Easy
Spinelli - Chapter 01 #21
 

 
22.
(p. 5)
Name three places outside the U.S. where entrepreneurship is emerging as an academic field and as a highly admired life option. 
 


Mentioned in text; China, India, Vietnam, the European Union, and former Eastern bloc countries

 
Blooms: Remember
Difficulty: 2 Medium
Spinelli - Chapter 01 #22
 

 
23.
(p. 17)
In America, what type of individual is most common source of funding for new buildings, classrooms, athletic facilities, and endowed professorships at universities and colleges? 
 


A successful entrepreneur

 
Blooms: Remember
Difficulty: 1 Easy
Spinelli - Chapter 01 #23
 

 
24.
(p. 24)
What should always be done following an interview with an entrepreneur? 
 


Write a thank you note

 
Blooms: Remember
Difficulty: 1 Easy
Spinelli - Chapter 01 #24
 

 
25.
(p. 15, 16)
Explain why venture capital is a particularly appropriate funding source for industries with long gestation periods. 
 


Classic venture capitalists work as coaches, mentors, and partners with entrepreneurs and innovators at a very early stage to help shape and accelerate the development of the company. Venture capitalists generally take a long-term view with their investing. Even with very fast-paced, emerging technologies like biotechnology, personal computers, software and wireless communications, they understand that it can take many years and numerous rounds of patient capital before an investment can be expected to pay off.

 
Blooms: Remember
Difficulty: 3 Hard
Spinelli - Chapter 01 #25
 

 
26.
(p. 19)
Describe the typical American entrepreneur. 
 


American entrepreneurs typically accumulated their wealth through hard work, self-discipline, planning, and frugality—all very entrepreneurial virtues. The vast majority (80 percent) are ordinary people who have accumulated their wealth in one generation. They live below their means, would rather be financially independent than display high social status, and don't look like most people's stereotype of millionaires. They get rich slowly: The average millionaire is 57 years old. Their businesses are not the sexy, high-tech, Silicon Valley variety; rather they have created and own mainstream businesses such as ambulance services, citrus farming, cafeteria services, consulting services, janitorial services, job training schools, meat processors, mobile home parks, pest controllers, newsletter publishers, rice farmers, and sandblasting contractors.

 
Blooms: Remember
Difficulty: 2 Medium
Spinelli - Chapter 01 #26
 




Chapter 1 Summary
 
Category
# of Questions

Blooms: Apply
2

Blooms: Remember
24

Difficulty: 1 Easy
14

Difficulty: 2 Medium
10

Difficulty: 3 Hard
2

Spinelli - Chapter 01
26