Entrepreneurship: The Practice and Mindset 1st Edition by Heidi M. Neck Test bank

 
60. What percentage of business organizations worldwide are family owned?
a. 50%
b. 60–70%
c. 70–80%
d. 80–90%
Ans: D
Learning Objective: 1.4. Compare and contrast the different forms of entrepreneurship in practice today.
Cognitive Domain: Knowledge
Answer Location: Family Enterprising
Difficulty Level: Easy
AACSB Standard: Written and oral communication
 
61. Bill is the paternal head of his family and the family enterprise. He is concerned about the business and wants to ensure its survival for the long run. You, as a consultant, advise him to ______.
a. hire you as his advisor
b. begin to pass on his and the family’s mindsets and philosophies to the younger generation
c. develop a business plan
d. establish a trust for the business
Ans: B
Learning Objective: 1.4. Compare and contrast the different forms of entrepreneurship in practice today.
Cognitive Domain: Comprehension
Answer Location: Family Enterprising
Difficulty Level: Medium
AACSB Standard: Interpersonal relations and teamwork
 
62. Who made the following statement: “You’re the job creators, responsible for half of all private sector jobs. You’re innovators, producing 13 times more patents per employee than large companies.”?
a. the Department of Labor and Economic Development Director
b. President Barack Obama, in the White House ceremony honoring National Small Business Week award winners
c. the secretary of state of New York
d. the Secretary-General of the United Nations General Assembly
Ans: B
Learning Objective: 1.5.  Illustrate the global diversity of entrepreneurship and its impact.
Cognitive Domain: Comprehension
Answer Location: The World Is Participating in Entrepreneurship
Difficulty Level: Medium
AACSB Standard: Diverse and multicultural work environments
 
63. Sam loves opportunities and looks for one wherever he goes. He saw a need, developed a product, and did this on the side to increase his income. Sam is ______.
a. working two jobs
b. an opportunity-based entrepreneur
c. the definition of an entrepreneur
d. a natural-born salesman
Ans: B
Learning Objective: 1.5. Illustrate the global diversity of entrepreneurship and its impact.
Cognitive Domain: Application
Answer Location: Global Entrepreneurship
Difficulty Level: Medium
AACSB Standard: Analytical thinking
 
64. Programs such as the Ernst and Young’s EY Entrepreneurial Winning Women program and Springboard have helped to raise the profile of women entrepreneurs by supporting, training, and showcasing women entrepreneurs to the venture capital community through sponsored events and forums. This helps offset one of the findings from the 2014 Diana Project that suggests ______.
a. women need help developing their skills and innate abilities
b. it is not the women entrepreneurs who need to adapt, but rather the venture capital model, which needs to be re-evaluated and updated to keep up with the changing landscape of women’s entrepreneurship.
c. women worldwide are less educated than men
d. women are more homebound and need more help to develop products to impact their lives
Ans: B
Learning Objective: 1.5. Illustrate the global diversity of entrepreneurship and its impact.
Cognitive Domain: Application
Answer Location: The Diana Project
Difficulty Level: Medium
AACSB Standard: Diverse and multicultural work environments
 
65. Carlos wants to start an entrepreneurial nonprofit but needs help with funding. Of the conditions that need to be put in place for the Entrepreneurial Ecosystem, he needs ______.
a. financial resources
b. support from government
c. entrepreneurship education
d. research and development transfer
Ans: A
Learning Objective: 1.5. Illustrate the global diversity of entrepreneurship and its impact.
Cognitive Domain: Comprehension
Answer Location: What Makes a Country Entrepreneurial?
Difficulty Level: Medium
AACSB Standard: Contexts of organizations in a global society
 
66. Marcos wants to start a propane delivery and service business but needs help with tax incentives. Of the conditions that need to be put in place for the Entrepreneurial Ecosystem, he needs ______.
a. financial resources
b. support from government
c. entrepreneurship education
d. research and development transfer
Ans: B
Learning Objective: 1.5. Illustrate the global diversity of entrepreneurship and its impact.
Cognitive Domain: Comprehension
Answer Location: What Makes a Country Entrepreneurial?
Difficulty Level: Medium
AACSB Standard: Contexts of organizations in a global society