Question 1

Lisa is trying to start a new business. A women's business network puts her in touch with an investor who is willing to invest in her company in exchange for an equity stake. This investor is a(n) ______.
A) entrepreneur
B) angel investor
C) venture capitalist
D) franchiser

Accepted Answer

An angel investor is an individual who invests their personal funds in startups or early-stage companies in exchange for an equity stake. They typically invest smaller amounts compared to venture capitalists and are often part of a business network or angel group.

Question 2

Complete the following using the terms listed below.
-______ are business firms or groups of individuals who invest in new and growing firms.
A)lifestyle entrepreneur
B)globalization
C)angel investor
D)enterprise zone
E)debt financing
F)internal locus of control.
G)debt financing.
H)classic entrepreneur
I)social entrepreneur.
J)seed capital
K)venture capitalist
L)intrapreneurship
M)urban reserve
N)information technology

Accepted Answer

Venture capitalists are business firms or groups of individuals who invest in new and growing firms.

Question 3

______ are business organizations or groups of private individuals who invest in new or growing firms.
A) Angel investors
B) Entrepreneurs
C) Intrapreneurs
D) Venture capitalists

Accepted Answer

The answer of ______ are business organizations or groups of...

Question 4

______ are company-initiated projects that focus on a few products and technologies that 3M sees as having potential for success
A) Self-directed projects
B) Skunkworks
C) Bottlelegging
D) Pacing programs

Accepted Answer

Pacing programs are company-initiated projects that focus on a limited number of products or technologies with potential for success. They involve allocating resources and setting specific targets for development and launch. The goal is to maintain a steady pace of innovation and bring the most promising ideas to market quickly. Option A is incorrect because it refers to projects that are directed by employees rather than the company. Option B, skunkworks, refers to a separate, autonomous organization within a larger company that is tasked with developing new products or technologies. Option C, bottlelegging, is a term used in the Three Horizons Framework to describe the process of leveraging existing assets to create new products or businesses.

Question 5

Complete the following using the terms listed below.
-A(n) ______ is an individual who lends money to new ventures in exchange for an equity stake.
A)lifestyle entrepreneur.
B)globalization
C)angel investor
D)enterprise zone
E)debt financing.
F)internal locus of control.
G)debt financing
H)classic entrepreneur
I)social entrepreneur
J)seed capital
K)venture capitalist
L)intrapreneurship
M)urban reserve
N)information technology

Accepted Answer

An angel investor is an individual who lends money to new ventures in exchange for an equity stake.

Question 6

Complete the following using the terms listed below.
-______ is the initial funding needed to launch a new venture.
A)lifestyle entrepreneur.
B)globalization
C)angel investor
D)enterprise zone
E)debt financing.
F)internal locus of control.
G)debt financing
H)classic entrepreneur
I)social entrepreneur
J)seed capital
K)venture capitalist
L)intrapreneurship
M)urban reserve
N)information technology

Accepted Answer

Seed capital is the initial funding needed to launch a new venture.

Question 7

______ has a long-standing and well-known record of encouraging intrapreneurship.
A) IBM
B) 3M
C) General Motors Co.
D) Microsoft Corporation

Accepted Answer

3M is known for promoting intrapreneurship through their "15% rule," which allows employees to dedicate 15% of their work time to pursuing their own ideas and innovation projects within the company.

Question 8

______ and ______ are critical factors to consider in starting up a business.
A) Age; gender
B) Government support; Family support
C) Finding something the entrepreneur loves to do; finding an idea that meets a need in the marketplace
D) Business plan; human resource

Accepted Answer

Finding something the entrepreneur loves to do will keep them motivated and passionate about their business, while finding an idea that meets a need in the marketplace will ensure that there is a demand for their product or service. Age, gender, government support, family support, business plan, and human resources are all important factors to consider, but they are not as critical as having a viable idea and the passion to pursue it.

Question 9

Complete the following using the terms listed below.
-A(n) ______ starts a business to gain flexibility in work hours and control over his or her life.
A)lifestyle entrepreneur.
B)globalization
C)angel investor
D)enterprise zone
E)debt financing.
F)internal locus of control.
G)debt financing
H)classic entrepreneur
I)social entrepreneur
J)seed capital
K)venture capitalist
L)intrapreneurship
M)urban reserve
N)information technology

Accepted Answer

A lifestyle entrepreneur starts a business to gain flexibility and control over their life, often prioritizing work-life balance over growth and profits.

Question 10

Complete the following using the terms listed below.
-A person who identifies a business opportunity and allocates available resources to tap that market is a(n) ______.
A)lifestyle entrepreneur.
B)globalization
C)angel investor
D)enterprise zone
E)debt financing.
F)internal locus of control.
G)debt financing
H)classic entrepreneur
I)social entrepreneur
J)seed capital
K)venture capitalist
L)intrapreneurship
M)urban reserve
N)information technology

Accepted Answer

The term "classic entrepreneur" describes individuals who identify business opportunities, allocate resources, and take the risks necessary to create and grow a business. They often start their own businesses and are driven by the desire to achieve financial success and independence.

Question 11

Complete the following using the terms listed below.
-A(n) ______ recognizes a societal problem and uses business principles to develop innovative solutions.
A)lifestyle entrepreneur.
B)globalization
C)angel investor
D)enterprise zone
E)debt financing.
F)internal locus of control.
G)debt financing
H)classic entrepreneur
I)social entrepreneur
J)seed capital
K)venture capitalist
L)intrapreneurship
M)urban reserve
N)information technology

Accepted Answer

A social entrepreneur recognizes a societal problem and uses business principles to develop innovative solutions.

Question 12

The process of promoting an innovation within the structure of an existing organization is referred to as
A) intrapreneurship.
B) innovation.
C) financing.
D) creativity, energy and excitement.

Accepted Answer

Intrapreneurship refers to the process of promoting an innovation within an existing organization. It involves individuals within the organization taking on the role of entrepreneurs to develop and implement new ideas, products, or services.

Question 13

Complete the following using the terms listed below.
-The significant increase of international marketing and sales by entrepreneurs is a result of ______.
A)lifestyle entrepreneur.
B)globalization
C)angel investor
D)enterprise zone
E)debt financing.
F)internal locus of control.
G)debt financing
H)classic entrepreneur
I)social entrepreneur
J)seed capital
K)venture capitalist
L)intrapreneurship
M)urban reserve
N)information technology

Accepted Answer

Globalization refers to the interconnectedness of countries in terms of trade, communication, and cultural exchange. It has enabled entrepreneurs to expand their businesses across borders and tap into international markets.

Question 14

Complete the following using the terms listed below.
-A ______ is a specific geographic area set aside for economic renewal.
A)lifestyle entrepreneur
B)globalization
C)angel investor
D)enterprise zone
E)debt financing
F)internal locus of control.
G)debt financing.
H)classic entrepreneur.
I)social entrepreneur.
J)seed capital.
K)venture capitalist.
L)intrapreneurship
M)urban reserve
N)information technology.

Accepted Answer

An enterprise zone is a specific geographic area set aside for economic renewal. It is designed to stimulate economic activity and create jobs in distressed or underdeveloped areas.

Note: The other terms listed do not specifically relate to the concept of an enterprise zone.

Question 15

Complete the following using the terms listed below.
-______ helps entrepreneurs work quickly and efficiently, provide attentive customer service, increase sales, and project professional images.
A)lifestyle entrepreneur.
B)globalization
C)angel investor
D)enterprise zone
E)debt financing.
F)internal locus of control.
G)debt financing
H)classic entrepreneur
I)social entrepreneur
J)seed capital
K)venture capitalist
L)intrapreneurship
M)urban reserve
N)information technology

Accepted Answer

Information technology helps entrepreneurs work quickly and efficiently, provide attentive customer service, increase sales, and project professional images.

Question 16

Enrique wants to start a new business, but his bank will NOT lend him the money he needs. Enrique saw an advertisement sponsored by a business organization that provides financing for promising small companies. The organization sponsoring the advertisement would be considered a(n) ______.
A) venture capitalist
B) intrapreneur
C) franchiser
D) entrepreneur

Accepted Answer

The organization sponsoring the advertisement is providing financing for small companies, which is a common function of venture capitalists. Intrapreneurs are individuals who bring entrepreneurial ideas to existing companies, while franchisers are companies that sell the rights to use their business model and brand. An entrepreneur is an individual who starts a new business, which Enrique is trying to do. However, the specific organization sponsoring the advertisement is more indicative of a venture capitalist.

Question 17

An amount of money initially needed to conduct research/feasibility study to determine the viability of a business, is referred to as ______.
A) seed capital
B) debt financing
C) asset
D) equity finance

Accepted Answer

Seed capital is the initial investment required to conduct research or feasibility study to determine the viability of a business idea. Debt financing is money borrowed by a company that needs to be paid back with interest. An asset is a resource that has value and can be owned or controlled to produce positive economic value. Equity finance involves raising capital by selling shares of ownership in a business.

Question 18

Complete the following using the terms listed below.
-______ refers to the characteristic of entrepreneurs believing that they control their own destiny.
A)lifestyle entrepreneur.
B)globalization
C)angel investor
D)enterprise zone
E)debt financing.
F)internal locus of control.
G)debt financing
H)classic entrepreneur
I)social entrepreneur
J)seed capital
K)venture capitalist
L)intrapreneurship
M)urban reserve
N)information technology

Accepted Answer

The term "internal locus of control" refers to the belief that individuals control their own fate and success, which is a characteristic trait of entrepreneurs.

Question 19

______ are specific geographic areas designated for economic revitalization.
A) Economic stimulus zones
B) Investor zones
C) Enterprise zones
D) Commerce areas

Accepted Answer

Enterprise zones are designated areas where specific economic development incentives and tax breaks are offered to encourage private investment and job creation. These zones are meant to revitalize economically distressed areas and create opportunities for residents in those communities.

Question 20

Complete the following using the terms listed below.
-To secure ______, entrepreneurs borrow money from banks, finance companies, credit card companies, and family and friends.
A)lifestyle entrepreneur.
B)globalization
C)angel investor
D)enterprise zone
E)debt financing.
F)internal locus of control.
G)debt financing
H)classic entrepreneur
I)social entrepreneur
J)seed capital
K)venture capitalist
L)intrapreneurship
M)urban reserve
N)information technology

Accepted Answer

Debt financing is the process of borrowing money from a bank, finance company, credit card company, or family and friends.

Quiz 6: Starting Your Own Business: the Entrepreneurship Alternative

Lisa is trying to start a new business. A women's business network puts her in touch with an investor who is willing to invest in her company in exchange for an equity stake. This investor is a(n) ______.

Complete the following using the terms listed below. -______ are business firms or groups of individuals who invest in new and growing firms.

______ are business organizations or groups of private individuals who invest in new or growing firms.

______ are company-initiated projects that focus on a few products and technologies that 3M sees as having potential for success

Complete the following using the terms listed below. -A(n) ______ is an individual who lends money to new ventures in exchange for an equity stake.

Complete the following using the terms listed below. -______ is the initial funding needed to launch a new venture.

______ has a long-standing and well-known record of encouraging intrapreneurship.

and are critical factors to consider in starting up a business.

Complete the following using the terms listed below. -A(n) ______ starts a business to gain flexibility in work hours and control over his or her life.

Complete the following using the terms listed below. -A person who identifies a business opportunity and allocates available resources to tap that market is a(n) ______.

Complete the following using the terms listed below. -A(n) ______ recognizes a societal problem and uses business principles to develop innovative solutions.

The process of promoting an innovation within the structure of an existing organization is referred to as

Complete the following using the terms listed below. -The significant increase of international marketing and sales by entrepreneurs is a result of ______.

Complete the following using the terms listed below. -A ______ is a specific geographic area set aside for economic renewal.

Complete the following using the terms listed below. -______ helps entrepreneurs work quickly and efficiently, provide attentive customer service, increase sales, and project professional images.

Enrique wants to start a new business, but his bank will NOT lend him the money he needs. Enrique saw an advertisement sponsored by a business organization that provides financing for promising small companies. The organization sponsoring the advertisement would be considered a(n) ______.

An amount of money initially needed to conduct research/feasibility study to determine the viability of a business, is referred to as ______.

Complete the following using the terms listed below. -______ refers to the characteristic of entrepreneurs believing that they control their own destiny.

______ are specific geographic areas designated for economic revitalization.

Complete the following using the terms listed below. -To secure ______, entrepreneurs borrow money from banks, finance companies, credit card companies, and family and friends.