New Venture Creation: Entrepreneurship for the 21st Century 10th Edition Test Bank

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1Student: ___________________________________________________________________________1.According to Thomas Friedman, his book titled "The World is Flat" refers to the convergence oftechnology and world events that are playing a role in bringing about significant changes in traditionalvalue chains.TrueFalse2.Gearing entrepreneurs for competitiveness is likely to hinder the process of entrepreneurialrevolution.TrueFalse3.Entrepreneurship training works well in schools of business and engineering, but it has not proven to beuseful in fields such as architecture, medicine, and life sciences.TrueFalse4.Entrepreneurship educators believe that expertise, wisdom, and knowledge are housed solely in thefaculty brain or in the library.TrueFalse5.The best entrepreneurship faculties are generally able to determine in advance who among their incomingstudents will be the most effective entrepreneurs.TrueFalse6.David Birch, an MIT researcher, found that new and growing smaller firms had little effect on theeconomy as a whole.TrueFalse7.According to the U.S. Small Business Administration's Office of Advocacy, small firms accounted for allof the net new jobs in 2010.TrueFalse8.A 2010 report by The Guardian Life Small Business Research Institute indicated that women-ownedbusinesses have been steadily decreasing over the past few decades.TrueFalse9.While various surveys of high school seniors indicate a strong interest in entrepreneurship, a 2004 GallupPoll showed that a large percentage of American parents would prefer that their children pursue a lessrisky career.TrueFalse10. According to a study conducted in 2006, the self-employed report the lowest levels of personalsatisfaction, challenge, pride, and remuneration.TrueFalse11. Research in the 1980s and 1990s found that since World War II, small entrepreneurial firms have beenresponsible for half of all innovation and a large percentage of all radical innovation in the UnitedStates.TrueFalse12. Studies indicate that smaller firms generate twice as many innovations per research and development(R&D) dollar spent as the established multinationals.TrueFalse13. Value creation is a linear process as it requires a short-term perspective.TrueFalse

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New Venture Creation: Entrepreneurship for the 21st Century 10th Edition Test Bank

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