Exam 2: Management and Entrepreneurship: Handling Start-Ups and New Ventures

A) the activities and investments committed to gain returns from the new product or service arising from the opportunity
B) resources (i.e. ,money,relationships,etc. ) the entrepreneur could lose if the opportunity does not succeed
C) an occasion to bring into existence new products and services that allow outputs to be sold at a price greater than their cost of production
D) an individual's ability to notice and be sensitive to new information about objects,incidents,and patterns of behavior in the environment
E) the process in which an individual or group of individuals in an existing corporation create a new organization or instigate renewal or innovation within that corporation

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A) An entrepreneur's belief in the law of small numbers increases the risk he or she perceives with an opportunity.
B) Because individuals are more likely to obtain good information and less likely to obtain bad information,small samples of information are likely biased negatively.
C) Most entrepreneurs have access to large databases.
D) The control that an entrepreneur feels with respect to the opportunity's outcome may influence perceptions of the idea's risk.
E) Law of small numbers and the illusion of control positively influence the accuracy of risk perceptions when evaluating opportunities.

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A) illusion of control
B) law of small numbers
C) downside loss
D) exploitation
E) feasibility analysis

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Entrepreneurship refers to the identific...

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A) customer demands,structure of the industry,ability to provide the new product or service
B) ways to increase production and cut corners on costs
C) strategic planning
D) the likelihood of a product or service affecting the generation gap
E) entrepreneurial alertness

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A) exploitation
B) anchoring
C) information bias
D) illusion of control
E) reactance

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A) The new,fresh mindset of entrepreneurs.
B) Organizations started by teams have more money.
C) Individual organizations do not have the manpower to help.
D) The combination of diverse skills,experiences,and relationships of the entrepreneurial team members.
E) Entrepreneurial teams use more research for start-up decisions.

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A) new markets
B) new raw materials
C) new methods of production
D) new methods of organizing
E) new products

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A) opportunity identification
B) opportunity selection
C) opportunity evaluation
D) opportunity feedback
E) opportunity success

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A) The purpose of commercial entrepreneurship is to create value for the public.
B) Social entrepreneurs are not required to consider issues surrounding sales and costs since they have enough funding from angel investors.
C) Most commercial entrepreneurs rely on donations as sources of funding.
D) Commercial entrepreneurs focus on less quantitative performance measures that are not related to money.
E) Although profits remain somewhat important,social value dominates the goal structure of social entrepreneurship.

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A) intrapreneurship
B) creative destruction
C) corporate social entrepreneurship
D) social entrepreneurship
E) corporate entrepreneurship

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A) Venture capitalists are wealthy individuals who provide capital to new companies.
B) Angel investors raise money and then use this money to make investments in new firms.
C) Venture capitalists make more investments than angel investors.
D) Angel investors tend not to focus on particular industries.
E) Venture capitalists typically provide the initial financing to start-up ventures.

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A) bank financier
B) venture capitalist
C) angel investor
D) crowd funder
E) private equity investor

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A) information asset
B) information assurance
C) social networking
D) information asymmetry
E) information reliability

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A) Entrepreneur
B) Entrepreneurial opportunity
C) Entrepreneurial alertness
D) Entrepreneurship
E) Entrepreneurial risk

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A) information symmetry
B) market research
C) means-end relationships
D) social networks
E) entrepreneurial risk

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A) organization's culture,practices,tolerance level for uncertainty
B) stakeholders and investors
C) Dow and NASDAQ
D) individual profits
E) competition

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