1.6: Review Questions
- Page ID
- 50677
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\(\newcommand{\avec}{\mathbf a}\) \(\newcommand{\bvec}{\mathbf b}\) \(\newcommand{\cvec}{\mathbf c}\) \(\newcommand{\dvec}{\mathbf d}\) \(\newcommand{\dtil}{\widetilde{\mathbf d}}\) \(\newcommand{\evec}{\mathbf e}\) \(\newcommand{\fvec}{\mathbf f}\) \(\newcommand{\nvec}{\mathbf n}\) \(\newcommand{\pvec}{\mathbf p}\) \(\newcommand{\qvec}{\mathbf q}\) \(\newcommand{\svec}{\mathbf s}\) \(\newcommand{\tvec}{\mathbf t}\) \(\newcommand{\uvec}{\mathbf u}\) \(\newcommand{\vvec}{\mathbf v}\) \(\newcommand{\wvec}{\mathbf w}\) \(\newcommand{\xvec}{\mathbf x}\) \(\newcommand{\yvec}{\mathbf y}\) \(\newcommand{\zvec}{\mathbf z}\) \(\newcommand{\rvec}{\mathbf r}\) \(\newcommand{\mvec}{\mathbf m}\) \(\newcommand{\zerovec}{\mathbf 0}\) \(\newcommand{\onevec}{\mathbf 1}\) \(\newcommand{\real}{\mathbb R}\) \(\newcommand{\twovec}[2]{\left[\begin{array}{r}#1 \\ #2 \end{array}\right]}\) \(\newcommand{\ctwovec}[2]{\left[\begin{array}{c}#1 \\ #2 \end{array}\right]}\) \(\newcommand{\threevec}[3]{\left[\begin{array}{r}#1 \\ #2 \\ #3 \end{array}\right]}\) \(\newcommand{\cthreevec}[3]{\left[\begin{array}{c}#1 \\ #2 \\ #3 \end{array}\right]}\) \(\newcommand{\fourvec}[4]{\left[\begin{array}{r}#1 \\ #2 \\ #3 \\ #4 \end{array}\right]}\) \(\newcommand{\cfourvec}[4]{\left[\begin{array}{c}#1 \\ #2 \\ #3 \\ #4 \end{array}\right]}\) \(\newcommand{\fivevec}[5]{\left[\begin{array}{r}#1 \\ #2 \\ #3 \\ #4 \\ #5 \\ \end{array}\right]}\) \(\newcommand{\cfivevec}[5]{\left[\begin{array}{c}#1 \\ #2 \\ #3 \\ #4 \\ #5 \\ \end{array}\right]}\) \(\newcommand{\mattwo}[4]{\left[\begin{array}{rr}#1 \amp #2 \\ #3 \amp #4 \\ \end{array}\right]}\) \(\newcommand{\laspan}[1]{\text{Span}\{#1\}}\) \(\newcommand{\bcal}{\cal B}\) \(\newcommand{\ccal}{\cal C}\) \(\newcommand{\scal}{\cal S}\) \(\newcommand{\wcal}{\cal W}\) \(\newcommand{\ecal}{\cal E}\) \(\newcommand{\coords}[2]{\left\{#1\right\}_{#2}}\) \(\newcommand{\gray}[1]{\color{gray}{#1}}\) \(\newcommand{\lgray}[1]{\color{lightgray}{#1}}\) \(\newcommand{\rank}{\operatorname{rank}}\) \(\newcommand{\row}{\text{Row}}\) \(\newcommand{\col}{\text{Col}}\) \(\renewcommand{\row}{\text{Row}}\) \(\newcommand{\nul}{\text{Nul}}\) \(\newcommand{\var}{\text{Var}}\) \(\newcommand{\corr}{\text{corr}}\) \(\newcommand{\len}[1]{\left|#1\right|}\) \(\newcommand{\bbar}{\overline{\bvec}}\) \(\newcommand{\bhat}{\widehat{\bvec}}\) \(\newcommand{\bperp}{\bvec^\perp}\) \(\newcommand{\xhat}{\widehat{\xvec}}\) \(\newcommand{\vhat}{\widehat{\vvec}}\) \(\newcommand{\uhat}{\widehat{\uvec}}\) \(\newcommand{\what}{\widehat{\wvec}}\) \(\newcommand{\Sighat}{\widehat{\Sigma}}\) \(\newcommand{\lt}{<}\) \(\newcommand{\gt}{>}\) \(\newcommand{\amp}{&}\) \(\definecolor{fillinmathshade}{gray}{0.9}\)What factors contribute to a growing interest in entrepreneurship?
- unemployment levels
- low job turnover rates
- increasing levels of creativity
- decreasing rates of discrimination
Angel investors contribute to the entrepreneurial world by ________.
- outpacing venture capitalists in access to startup funds
- directly investing in entrepreneurial startups
- holding seminars to teach people how to become an entrepreneur
- forming groups of other investors to supply greater quantities of investment funds to entrepreneurs.
An entrepreneur is someone who ________.
- creates a small business based on other existing businesses
- creates a home-based business that sells products available through other retailers
- creates a business around the idea of solving a problem
- is highly creative
Roxanne Quimby of Burt’s Bees is an example of an entrepreneur primarily for which of the following reasons?
- She saw available resources and recognized the resources could be used to create a business.
- She acted on her passions.
- She solved a significant societal problem.
- She had the time and energy to dedicate to starting business.
In the early stages of developing an entrepreneurial venture, the entrepreneur might seek funding from which group?
- venture capitalists
- the local bank
- friends and family
- shark tank
The acronym SMART for goal setting stands for ________.
- short-term, measurable, accurate, relevant, and timely
- specific, measurable, accurate, relevant, and timely
- specific, measurable, achievable, realistic, and time oriented
- specific, measurable, achievable, results, and time oriented
A vision statement does not include ________.
- a picture of the future described in words
- concepts and ideas that inspire and focus people’s actions toward a united outcome
- both creative and exploratory process in creating the vision
- the scope of the venture
Which one of the following is not a quantifiable result?
- 5 percent annual growth in sales
- increase market share by 2 percent
- decrease collection of accounts receivable by $5,000.00
- increase creativity throughout the venture
Which of the following is not a creativity building technique or tool?
- conducting a case study
- brainstorming activities
- mind map creation
- brain writing
Disruptive technologies include all but which of the following?
- new methods or approaches that make established methods obsolete
- self-booking of air travel
- restaurant food delivery services
- a change from ownership of resources to the ability to have access to resources
The entrepreneurial mindset includes ________.
- a willingness to develop ideas that are not always initially popular
- a willingness to wait for an idea to become popular before moving forward with that idea
- an ability to focus on past successes
- a belief in following tradition and established patterns