Question 1

Habitual entrepreneurs are owners for a lifetime whose career goal is personal satisfaction first,income second.

Accepted Answer

A) True 
 B)False

Question 2

At a minimalized level of professionalization,the entrepreneur does everything in the simplest way possible.

Accepted Answer

A) True 
 B)False

Question 3

Idea people are hard working,driven by great wealth,socially isolated,and great risk takers.

Accepted Answer

A) True 
 B)False

Question 4

The intention component of the BRIE model reflects _____ competencies.

Accepted Answer

A)  basic business
B)  opportunity
C)  resource
D)  determination

Question 5

Access problems for women- and minority-owned small businesses crop up most often as

Accepted Answer

A)  differences in labeling.
B)  discrimination in financing.
C)  problems involved in business contacts.
D)  the presence and absence of certain skills.

Question 6

Salesperson entrepreneurs are more concerned with personal wealth than their acceptance of social standing.

Accepted Answer

A) True 
 B)False

Question 7

What is the goal of growth entrepreneurs?

Accepted Answer

A)  Personal satisfaction
B)  Major success
C)  Income
D)  Work first in order to play later

Question 8

People who begin their business after having retired or resigned from work in corporations at the age of 50 or later are called _____ entrepreneurs.

Accepted Answer

A)  harvest
B)  helical or spiral
C)  late career
D)  growth

Question 9

Family owned and managed small businesses represent what percent of American businesses?

Accepted Answer

A)  58
B)  25
C)  39
D)  72

Question 10

Expert businesses

Accepted Answer

A)  are those which have owners who are passionate about one key business function.
B)  are those where the entrepreneur does nearly everything in the simplest way possible.
C)  usually lack good business procedures.
D)  are those in which you notice everything seems to be done in the best way possible.

Question 11

When woman or minority-owned businesses are simply excluded from the opportunities offered to firms owned by white males,it is called the challenge of

Accepted Answer

A)  consistency.
B)  access.
C)  flexibility.
D)  mutuality.

Question 12

Resources lead to specific determination competencies which deal with skills and knowledge in a particular industry.

Accepted Answer

A) True 
 B)False

Question 13

Which of the following deals with the actual process of exploring an opportunity for profit?

Accepted Answer

A)  Resource
B)  Exchange
C)  Intention
D)  Boundary

Question 14

Two challenges typical to family businesses are

Accepted Answer

A)  motivation and nepotism.
B)  leadership and finances.
C)  succession and access.
D)  role conflict and succession.

Question 15

Getting organized and registered-which creates a boundary-is an example of a(n)

Accepted Answer

A)  financial activity.
B)  operations activity.
C)  human resources activity.
D)  management activity.

Question 16

Which of the following does NOT hold true of the minimalized level of professionalization?

Accepted Answer

A)  The entrepreneur does nearly everything in the simplest way possible.
B)  Usually,there is no systematic accounting.
C)  Record keeping will vary between nonexistent and haphazard.
D)  Inspires the highest levels of trust among customers.

Question 17

Using the BRIE model,identify and briefly explain the four different sets of competencies that are needed for entrepreneurs to be successful.

Accepted Answer

The BRIE model helps focus on the compet...

Question 18

According to research,CEOs of family firms had an average tenure of about half the years as compared to CEOs in other businesses.

Accepted Answer

A) True 
 B)False

Question 19

The competency suggested by _____ relates to the organizational and business processes of a firm.

Accepted Answer

A)  intention
B)  resource
C)  exchange
D)  boundary

Question 20

Differentiate between an original classic and a contemporary classic entrepreneur.

Accepted Answer

The original classic entrepreneur was a ...

Exam 3: Small Business Entrepreneurs: Characteristics and Competencies

Resources lead to specific determination competencies which deal with skills and knowledge in a particular industry.

Correct AnswerverifiedShow Answer

Habitual entrepreneurs are owners for a lifetime whose career goal is personal satisfaction first,income second.

Correct AnswerverifiedShow Answer

Salesperson entrepreneurs are more concerned with personal wealth than their acceptance of social standing.

Correct AnswerverifiedShow Answer

According to research,CEOs of family firms had an average tenure of about half the years as compared to CEOs in other businesses.

Correct AnswerverifiedShow Answer

Two challenges typical to family businesses are

Correct AnswerverifiedShow Answer

What is the goal of growth entrepreneurs?

Correct AnswerverifiedShow Answer

Getting organized and registered-which creates a boundary-is an example of a(n)

Correct AnswerverifiedShow Answer

Which of the following deals with the actual process of exploring an opportunity for profit?

Correct AnswerverifiedShow Answer

Using the BRIE model,identify and briefly explain the four different sets of competencies that are needed for entrepreneurs to be successful.

Correct AnswerverifiedThe BRIE model helps focus on the compet...View AnswerShow Answer

The intention component of the BRIE model reflects _____ competencies.

Correct AnswerverifiedShow Answer

The competency suggested by _____ relates to the organizational and business processes of a firm.

Correct AnswerverifiedShow Answer

Which of the following does NOT hold true of the minimalized level of professionalization?

Correct AnswerverifiedShow Answer

Family owned and managed small businesses represent what percent of American businesses?

Correct AnswerverifiedShow Answer

Access problems for women- and minority-owned small businesses crop up most often as

Correct AnswerverifiedShow Answer

People who begin their business after having retired or resigned from work in corporations at the age of 50 or later are called _____ entrepreneurs.

Correct AnswerverifiedShow Answer

At a minimalized level of professionalization,the entrepreneur does everything in the simplest way possible.

Correct AnswerverifiedShow Answer

When woman or minority-owned businesses are simply excluded from the opportunities offered to firms owned by white males,it is called the challenge of

Correct AnswerverifiedShow Answer

Expert businesses

Correct AnswerverifiedShow Answer

Differentiate between an original classic and a contemporary classic entrepreneur.

Correct AnswerverifiedThe original classic entrepreneur was a ...View AnswerShow Answer

Idea people are hard working,driven by great wealth,socially isolated,and great risk takers.

Correct AnswerverifiedShow Answer

Correct Answer
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The BRIE model helps focus on the compet...
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Correct Answer
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Correct Answer
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Correct Answer
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The original classic entrepreneur was a ...
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Correct Answer
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