New Venture Creation: Entrepreneurship for the 21st Century 10th Edition Test Bank
Master difficult topics with New Venture Creation: Entrepreneurship for the 21st Century 10th Edition Test Bank, offering targeted practice for your exams.
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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
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.
C. Entrepreneurship is becoming a tool to create social and economic equalities.
D. Entrepreneurship is becoming a dominant management model for running nonprofit businesses.
19. What is the characteristic of entrepreneurship educators whose views and attitudes toward learning differ
radically from traditional academic approaches?
A. They are faculty centric.
B. They do not prefer a work-in-progress philosophy of teaching.
C. They do believe that expertise, wisdom, and knowledge are housed solely in the faculty.
D. They are likely to see their role as mentors, coaches, and advocates for students.
20. What is the difference between entrepreneurial educators and traditional academicians?
A. Entrepreneurial educators are faculty centric, whereas traditional academicians are student centric.
B. Entrepreneurial educators follow a rigid training module, whereas traditional academicians follow a
more hands-on philosophy.
C
.
Entrepreneurial educators treat the learning process as solely occurring in the classroom, whereas
traditional academicians treat it as more of an apprenticeship.
D. Entrepreneurial educators are opportunity centric, whereas traditional academicians are faculty centric.
21. Which of the following is true of new venture creation?
A. It is process oriented and not result oriented.
B. It gives importance to one's nationality.
C. It creates economic and social mobility.
D. It reduces competitiveness.
22. At the heart of the entrepreneurial process is a(n):
A. rigid organizational structure.
B. resistance to ambiguity.
C. innovative spirit.
D. resistance to change.
23. Who among the following is most likely to be called a philanthropist?
A. Lydia, an entrepreneur, who acquires a foreign company
B. Ahmed, an entrepreneur, who exercises monopoly in the highly profitable oil and natural gas sector
C. Zainab, an entrepreneur, who funds the construction of a public school in her locality
D. Eric, an entrepreneur, who sells his innovation in the aviation industry
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.
C. Entrepreneurship is becoming a tool to create social and economic equalities.
D. Entrepreneurship is becoming a dominant management model for running nonprofit businesses.
19. What is the characteristic of entrepreneurship educators whose views and attitudes toward learning differ
radically from traditional academic approaches?
A. They are faculty centric.
B. They do not prefer a work-in-progress philosophy of teaching.
C. They do believe that expertise, wisdom, and knowledge are housed solely in the faculty.
D. They are likely to see their role as mentors, coaches, and advocates for students.
20. What is the difference between entrepreneurial educators and traditional academicians?
A. Entrepreneurial educators are faculty centric, whereas traditional academicians are student centric.
B. Entrepreneurial educators follow a rigid training module, whereas traditional academicians follow a
more hands-on philosophy.
C
.
Entrepreneurial educators treat the learning process as solely occurring in the classroom, whereas
traditional academicians treat it as more of an apprenticeship.
D. Entrepreneurial educators are opportunity centric, whereas traditional academicians are faculty centric.
21. Which of the following is true of new venture creation?
A. It is process oriented and not result oriented.
B. It gives importance to one's nationality.
C. It creates economic and social mobility.
D. It reduces competitiveness.
22. At the heart of the entrepreneurial process is a(n):
A. rigid organizational structure.
B. resistance to ambiguity.
C. innovative spirit.
D. resistance to change.
23. Who among the following is most likely to be called a philanthropist?
A. Lydia, an entrepreneur, who acquires a foreign company
B. Ahmed, an entrepreneur, who exercises monopoly in the highly profitable oil and natural gas sector
C. Zainab, an entrepreneur, who funds the construction of a public school in her locality
D. Eric, an entrepreneur, who sells his innovation in the aviation industry
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Subject
Entrepreneurship