Chapter 6 T/F
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| Small business owners often have the goal of expansion and growth. | F
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| The major responsibility of an entrepreneur is to use the resources of their organizations in order to accomplish their goals | T
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| Merely owning a business makes you an entrepreneur | F
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| An entrepreneur is an employee of a large organization | F
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| Managers are employees who direct the efforts of others to achieve an organization’s goals. | T
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| In a recent year, roughly 565,000 new businesses were created each month in the United States | T
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| According to the U.S. Small Business Administration, most newly created jobs come from small businesses, with a significant share of those jobs coming from new companies. | T
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| In the beginning of their new career, entrepreneurs often find themselves working longer and harder than ever before | T
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| Entrepreneurs are wealth creators | T
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| Working for large corporations generally provides more job security than becoming an entrepreneur | F
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| Lifestyle entrepreneurs are drawn by the prospect of working fewer hours. | F
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| The third step in starting a new business is to create a business plan | F
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| Buying a franchise is a less risky way to begin a business than starting a new firm. | T
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| Most new ventures are formed to solve problems that people have experienced at work or in their personal lives. | T
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| Equity financing means using borrowed funds to finance a business venture. | F
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| Benefits to buying an already existing business is that the proper licensing is already obtained and a pool of workers is already in place | F
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| A successful entrepreneur always follows his or her business plan | T
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| A good idea for a business should aim to satisfy an unmet need in the marketplace | T
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| The U.S. Small Business Administration encourages entrepreneurs to use credit cards for their business startup funds | F
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| Large firms can encourage intrapreneurship by using dedicated programs such as skunkworks. | T
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| Once you have a great idea for a new product, it is generally unnecessary to determine if there is a need or desire for that product in the marketplace. | F
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| Countries whose economies are driven by innovation have a much higher average rate of entrepreneurship | F
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| Entrepreneurial firms find they really can’t compete effectively in an economy based on knowledge and information technology | F
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| A serial entrepreneur recognizes a societal problem and uses business principles to develop innovative solutions | F
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| Many entrepreneurs start a business because they have created something new and want to make it a market success themselves. | T
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| An increasing number of small businesses are started by professionals and managers who separated from large corporations when those firms downsized. | T
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| Once your new business is off the ground, you can expect to work fewer hours than you would at a regular job. | F
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| Entrepreneurs often believe that they control their own destinies and refrain from blaming others for their hardships | T
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| Once financing has been secured for a new business venture, the entrepreneur should then create a business plan | F
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| The main aim of a social entrepreneur is to start a business with the hope of maximizing profit. | F
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| The aging of the population and growth of dual-income families create opportunities for entrepreneurs to market new goods and services. | T
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| Classic entrepreneurs identify business opportunities and allocate available resources to tap those markets. | T
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| Entrepreneurs tend to avoid using social media as a marketing tool | F
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Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
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To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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