Question Details

MGT 101 Chapter 6--Managing Small Business Start-Ups PART 1


1.	Approximately 600,000 new businesses are launched in the U.S. each year by entrepreneurs. 
 
True    False
 
2.	The process of initiating a business venture, gathering and organizing the appropriate resources, and assuming the associated risks and rewards refers to entrepreneurship. 
 
True    False
 
3.	Sole proprietorships are one of the fastest growing segment of small business. 
 
True    False
 
4.	Entrepreneurs in the sustainer category are rewarded by the personal satisfaction of being business owners. 
 
True    False
 
5.	Entrepreneurs in the sustainer category alike the chance to balance work and personal life and often don't want the business to grow too large. 
 
True    False
 
6.	Entrepreneurs in the optimizer category are rewarded by the personal satisfaction of being business owners. 
 
True    False
 
7.	Optimizers are rewarded by chance to work on something new and creative. 
 
True    False
 
8.	During turbulent times, small business formation is the primary process by which an economy recreates and reinvents itself. 
 
True    False
 
9.	China is the most entrepreneurial country, with 24 percent of individuals age 18 to 64 starting a new business. 
 
True    False
 
10.	Small businesses, according to the Small Business Administration, employ more than 90 percent of the private workforce in the United States. 
 
True    False
 
11.	Entrepreneurship and small business in the United States is an engine for job creation and innovation. 
 
True    False
 
12.	Women and minorities who have found their opportunities limited in the corporate world are seeing intrapreneurship as the only way to go. 
 
True    False
 
13.	Immigrants are more likely to start small businesses than native-born Americans. 
 
True    False
 
14.	Minorities show a high rate of entrepreneurship in the United States, owning 5.8 million firms in 2007 that generated $1 trillion in revenues. 
 
True    False
 
15.	Particularly in a turbulent environment, the three most important traits of successful entrepreneurs are realism, flexibility, and passion. 
 
True    False
 
16.	The psychological characteristic that allows a person to be untroubled by disorder and uncertainty is called tolerance for ambiguity. 
 
True    False
 
17.	A need to achieve is a psychological characteristic that means people are motivated to excell and pick situations in which success is likely. 
 
True    False
 
18.	Entrepreneurs are able to deal easily with delays and exhibit high levels of patience, knowing that the results will be worth the wait. 
 
True    False
 
19.	Social entrepreneurs have a primary goal of improving society rather than maximizing profits. 
 
True    False
 
20.	Social entrepreneurs are leaders who are committed to both good business and ensuring high profitability. 
 
True    False