BUS 4401 - Review Quiz 9b PDF

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BUS 4401 Entrepreneurship 2 – Review Quiz 9 Question 1 Correct Mark 1.00 out of 1.00

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John Muir (U.S.): Select one: a. Naturalist and conservationist, he established the National Park System in the United States and helped found The Sierra Club - the oldest, largest, and most influential grassroots environmental organization in the United States.

b. Developed the Muir approach to social entrepreneurship. c. Founder of the Planned Parenthood Federation of America, he led the movement for family planning efforts around the world. d. Responsible for the reconstruction of the French and American economy following World War II, including the establishment of the European-American Coal and Steel Community (EACSC). The ECSC and the European Common Market were direct precursors of the European Union. Feedback The correct answer is: Naturalist and conservationist, he established the National Park System in the United States and helped found The Sierra Club - the oldest, largest, and most influential grassroots environmental organization in the United States.

Question 2 Correct Mark 1.00 out of 1.00

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True or false: Having a stated goal and finding means to reach it is a solid base that every expert entrepreneur uses at all times. What it means is that the new means and new goals to drive the creation of the venture are not necessary, are not expected and would not leverage costly business surprises. Select one: True False

Feedback The correct answer is 'False'.

Question 3 Correct Mark 1.00 out of 1.00

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BUS 4401 Entrepreneurship 2 – Review Quiz 9 A business may be cash-flow insolvent but balance-sheet solvent. Select one: True

False Feedback The correct answer is 'True'.

Question 4 Correct Mark 1.00 out of 1.00

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A Joint Venture can only be short-term. Select one: a. TRUE b. FALSE

Feedback The correct answer is: FALSE

Question 5 Correct Mark 1.00 out of 1.00

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Margaret Sanger (U.S.): Select one: a. Founder of the Planned Parenthood Federation of America, she led the movement for family planning efforts around the world.

b. Naturalist and conservationist, she established the National Park System in the United States and helped found The Sierra Club - the oldest, largest, and most influential grassroots environmental organization in the United States. c. Founder of modern nursing, she established the first school for nurses and fought to improve hospital conditions. d. Developed the Sanger approach to social entrepreneurship. Feedback

BUS 4401 Entrepreneurship 2 – Review Quiz 9 The correct answer is: Founder of the Planned Parenthood Federation of America, she led the movement for family planning efforts around the world.

Question 6 Incorrect Mark 0.00 out of 1.00

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The Pareto principle states that 80% of the results come from 20% of the causes - or doers. Select one: True False

Feedback The correct answer is 'True'.

Question 7 Correct Mark 1.00 out of 1.00

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According to Hoffman Entrepreneurship is: Select one: a. the phenomenon associated with entrepreneurial activity.

b. the business process associated with entrepreneurial economy c. the financial process associated with entrepreneurial activities d. the creative process associated with entrepreneurs. Feedback The correct answer is: the phenomenon associated with entrepreneurial activity.

Question 8 Incorrect Mark 0.00 out of 1.00

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The following is the most accurate reflection on what H. Ford's believed about money: Select one: a. Money comes naturally as the result of service b. It is absolutely necessary to have money

BUS 4401 Entrepreneurship 2 – Review Quiz 9 c. Money is not about ease but about the opportunity to perform more service

d. all of the above Feedback The correct answer is: all of the above

Question 9 Correct Mark 1.00 out of 1.00

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Weight Watchers has a "points value" method that suits early majorities. Select one: True

False Feedback The correct answer is 'True'.

Question 10 Correct Mark 1.00 out of 1.00

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Emphasizing the risks of being left behind is most important for: Select one: a. Early Adopters b. Late majority

c. Early majorities d. All of the above Feedback The correct answer is: Late majority

Question 11 Correct Mark 1.00 out of 1.00

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BUS 4401 Entrepreneurship 2 – Review Quiz 9 The modern definition of entrepreneurship according to Hoffman must consider the following three components: Select one: a. Entrepreneurs, Entrepreneurial Activity and Entrepreneurship

b. Entrepreneurs, Entrepreneurial Background and Entrepreneurship c. Economy, Entrepreneurial Activity and Entrepreneurship d. Entrepreneurs and their activities and business gains. Feedback The correct answer is: Entrepreneurs, Entrepreneurial Activity and Entrepreneurship

Question 12 Correct Mark 1.00 out of 1.00

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Lao Tzu's metaphor about water is relevant to entrepreneurship because of these two characteristics: Select one: a. flexibility and yielding

b. flexibility and force c. strength and force d. all of the above Feedback The correct answer is: flexibility and yielding

Question 13 Correct Mark 1.00 out of 1.00

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Cash flow insolvency involves a lack of liquidity to pay debts as they fall due. Select one: True

False Feedback

BUS 4401 Entrepreneurship 2 – Review Quiz 9 The correct answer is 'True'.

Question 14 Correct Mark 1.00 out of 1.00

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According to H. Ford when working on developing a horseless carriage, he had to work: Select one: a. From the ground up

b. Simultaneously on everything c. From the top down d. In collaboration with other entrepreneurs working on the same invention Feedback The correct answer is: From the ground up

Question 15 Correct Mark 1.00 out of 1.00

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Buyer's Value Chain include (in sequence): Select one: a. Search for product - Buy Product - Take Delivery - Use - Buy consumables - repair - dispose

b. Research the product - Buy Product - Take Delivery - Use - Buy consumables - repair - dispose c. Search for product - Research the best buy Product - Take Delivery - Use - Buy consumables repair - dispose d. Search for product - Buy Product - Take Delivery - Use - Buy consumables - buy a better product dispose of the old one Feedback The correct answer is: Search for product - Buy Product - Take Delivery - Use - Buy consumables repair - dispose

Question 16 Correct Mark 1.00 out of 1.00

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Lemonade Effectuation Principle:

BUS 4401 Entrepreneurship 2 – Review Quiz 9 Select one: a. Leverage contingencies. Embrace surprises that arise from uncertain situations, remaining flexible rather than tethered to existing goals.

b. Avoid uncertainty and remain well-established on existing goals. c. Avoid surprises as they do not belong in the business world. d. Leverage solid establishment. Embrace what will work based on existing goals that were established via due business process. Feedback The correct answer is: Leverage contingencies. Embrace surprises that arise from uncertain situations, remaining flexible rather than tethered to existing goals.

Question 17 Correct Mark 1.00 out of 1.00

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According to Harvard Business School what is the best definition of entrepreneurship? Select one: a. Entrepreneurship is the pursuit of opportunity without regard to resources currently controlled.

b. Entrepreneurship is the pursuit of opportunity with regard to resources currently controlled. c. Entrepreneurship is the pursuit of opportunity based on resources currently controlled. d. Entrepreneurship is the pursuit of business opportunity that is directly linked with regard to resources currently controlled. Feedback The correct answer is: Entrepreneurship is the pursuit of opportunity without regard to resources currently controlled.

Question 18 Correct Mark 1.00 out of 1.00

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Jean Monnet (France): Select one:

BUS 4401 Entrepreneurship 2 – Review Quiz 9 a. Responsible for the reconstruction of the French economy following World War II, including the establishment of the European Coal and Steel Community (ECSC). The ECSC and the European Common Market were direct precursors of the European Union.

b. Responsible for the reconstruction of the French and American economy following World War II, including the establishment of the European-American Coal and Steel Community (EACSC). The ECSC and the European Common Market were direct precursors of the European Union. c. Founder of the Planned Parenthood Federation of France, he led the movement for family planning efforts around the world. d. Founder of the Planned Parenthood Federation of America, he led the movement for family planning efforts around the world, including America-France partnership. Feedback The correct answer is: Responsible for the reconstruction of the French economy following World War II, including the establishment of the European Coal and Steel Community (ECSC). The ECSC and the European Common Market were direct precursors of the European Union.

Question 19 Correct Mark 1.00 out of 1.00

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According to Hoffman Entrepreneurs are: Select one: a. those persons (business owners) who seek to generate value, through the creation or expansion of economic activity, by identifying and exploiting new products, processes or markets.

b. those persons (business owners) who seek to generate value, through the creation or expansion of economic activity, by exploiting new products, processes or markets. c. those business entities who seek to generate value, through the creation or expansion of economic activity, by identifying and exploiting new products, processes or markets. d. those persons (business owners) who purchase value, through the creation or expansion of economic activity, by identifying and exploiting new products, processes or markets. Feedback The correct answer is: those persons (business owners) who seek to generate value, through the creation or expansion of economic activity, by identifying and exploiting new products, processes or markets.

Question 20 Correct Mark 1.00 out of 1.00

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BUS 4401 Entrepreneurship 2 – Review Quiz 9 A business arrangement of 2 or more parties that pool their resources to accomplish a task is: Select one: a. An Association b. Corporation c. Joint Venture

d. Partnership Feedback The correct answer is: Joint Venture

Question 21 Incorrect Mark 0.00 out of 1.00

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The following conditions need to be looked into (assessed) when choosing a place to start one's business EXCEPT: Select one: a. Getting Credit b. Protecting investors c. Paying Taxes

d. None of the above Feedback The correct answer is: None of the above

Question 22 Correct Mark 1.00 out of 1.00

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Once a Joint Venture reaches its goal, it can be liquidated like any other business or sold. Select one: a. TRUE

b. FALSE Feedback

BUS 4401 Entrepreneurship 2 – Review Quiz 9 The correct answer is: TRUE

Question 23 Correct Mark 1.00 out of 1.00

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Innovation Rules is based on: Select one: a. Leveraging both market and societal standards to identify innovation opportunities b. Leveraging technology to identify innovation opportunities c. Using market knowledge to identify innovation opportunities d. leveraging both market and technology changes to identify innovation opportunities.

Feedback The correct answer is: leveraging both market and technology changes to identify innovation opportunities.

Question 24 Correct Mark 1.00 out of 1.00

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Maria Montessori (Italy): Select one: a. Developed the Montessori approach to early childhood education.

b. Fought for Women's Rights in the Italy, including the right to control property and helped spearhead adoption of the 19th amendment. c. Founder of modern nursing, she established the first school for nurses and fought to improve hospital conditions in Italy. d. Developed the Montessori approach to social entrepreneurship. Feedback The correct answer is: Developed the Montessori approach to early childhood education.

Question 25 Correct Mark 1.00 out of 1.00

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Florence Nightingale (U.K.):

BUS 4401 Entrepreneurship 2 – Review Quiz 9 Select one: a. Founder of modern nursing, she established the first school for nurses and fought to improve hospital conditions.

b. Developed the Florence Nightingale approach to early childhood education. c. Founder of the Planned Parenthood Federation of America, she led the movement for family planning efforts around the world. d. Naturalist and conservationist, she established the National Park System in the U.K. and helped found the oldest, largest, and most influential grassroots environmental organization in the U.K. Feedback The correct answer is: Founder of modern nursing, she established the first school for nurses and fought to improve hospital conditions.

Question 26 Correct Mark 1.00 out of 1.00

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Advantages of the Cooperative Include: Select one: a. Owned and controlled by its members and limited liability.

b. Owned and controlled by its members and unlimited liability. c. Owned by its controlling members and their limited liability. d. Owned by its controlling members who provide limited liability. Feedback The correct answer is: Owned and controlled by its members and limited liability.

Question 27 Incorrect Mark 0.00 out of 1.00

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Weight Watchers has a "no count" system that suits everyone. Select one: True False

Feedback

BUS 4401 Entrepreneurship 2 – Review Quiz 9 The correct answer is 'True'.

Question 28 Correct Mark 1.00 out of 1.00

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A business is balance-sheet solvent when it holds market liquidity assets, particularly against short term debt. Select one: True

False Feedback The correct answer is 'True'.

Question 29 Correct Mark 1.00 out of 1.00

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According to Hoffman Entrepreneurial activity is: Select one: a. the enterprising human action in pursuit of the generation of value, through the creation or expansion of economic activity, by identifying and exploiting new products, processes or markets.

b. the enterprising business action in pursuit of the generation of value, through the creation or expansion of economic activity, by identifying and exploiting new products, processes or markets. c. the enterprising action in pursuit of the purchasing of value, through the creation or expansion of business activity, by buying new products, processes or markets. d. the enterprising human action in pursuit of the generation of monetary gains, through the creation or expansion of creative activity, by exploiting new processes and markets. Feedback The correct answer is: the enterprising human action in pursuit of the generation of value, through the creation or expansion of economic activity, by identifying and exploiting new products, processes or markets.

Question 30 Correct Mark 1.00 out of 1.00

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BUS 4401 Entrepreneurship 2 – Review Quiz 9 What is a franchise? Select one: a. It's a legal and commercial relationship between the owner of a trademark, service mark, brand name, or advertising symbol (the franchisor) and an individual or organization (the franchisee) wishing to use that identification in a business.

b. It's a legal and friendly relationship between the owner of a trademark, service mark, brand name, or advertising symbol (the franchisor) and an individual or organization (the franchisee) wishing to use that identification in a business. c. It's an almost legal and fully commercial relationship between the owner of a trademark, service mark, brand name, or advertising symbol (the franchisor) and an individual or organization (the franchisee) wishing to use that identification in a business. d. It's a legal and commercial relationship between the owner of a society, service mark, brand name, or advertising symbol (the franchisor) and an individual or organization (the franchisee) wishing to use that identification in a business. Feedback The correct answer is: It's a legal and commercial relationship between the owner of a trademark, service mark, brand name, or advertising symbol (the franchisor) and an individual or organization (the franchisee) wishing to use that identification in a business.

Question 31 Correct Mark 1.00 out of 1.00

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When working with late majority one needs to focus on promoting social norms rather than just product. Select one: True

False Feedback The correct answer is 'True'.

Question 32 Correct Mark 1.00 out of 1.00

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Balance sheet insolvency involves having positive net assets-where liabilities exceed assets. Select one:

BUS 4401 Entrepreneurship 2 – Review Quiz 9 True False

Feedback The correct answer is 'False'.

Question 33 Correct Mark 1.00 out of 1.00

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Vinoba Bhave (India): Select one: a. Founder and leader of the Land Gift Movement, he caused the redistribution of more than 7,000,000 acres of land to aid India's untouchables and landless.

b. Fought for Women's Rights in the India, including the right to control property and helped spearhead adoption of the 19th amendment. c. Founder of modern nursing, she established the first school for nurses and fought to improve hospital conditions in India. d. Developed the Vinoba Bhave approach to early childhood education in India. Feedback The correct answer is: Founder and leader of the Land Gift Movement, he caused the redistribution of more than 7,000,000 acres of land to aid India's untouchables and landless.

Question 34 Incorrect Mark 0.00 out of 1.00

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According to Les Robinson, diffusion of Innovations offers the following three valuable insights into the process of social change EXCEPT: Select one: a. Qualities that make an innovation spread successfully b. The importance of peer to peer conversations and peer networks

c. Understanding the needs of different user segments d. Strong financial markets combined with a vibrant economy Feedback

BUS 4401 Entrepreneurship 2 – Review Quiz 9 The correct answer is: Strong financial markets combined with a vibrant economy

Question 35 Correct Mark 1.00 out of 1.00

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Cash flow insolvency involves liquidity to pay debts as they fall due. Select one: True False

Feedback The correct answer is 'False'.

Question 36 Correct Mark 1.00 out of 1.00

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Ford's realizations about business were: Select one: a. That finance is given a place ahead of work and therefore tends to kill the work and destroy the fundamental of service. b. ...