Chapter 2 Flashcards Answers

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Every person has the _____ and _____ to pursue a career as an entrepreneur
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potential; free choice
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Sources of information available to entrepreneurs include
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journals
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Entrepreneurs
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are driven by intense commitment and perseverance
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Which source of information about entrepreneurial characteristics is direct observation
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biographies and entrepreneurs
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Which is not a source of entrepreneurship research
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water cooler conversation
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Biographies, journals, and periodicals are examples of what research source
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publications
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Characteristics often attributed to the Entrepreneur include
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commitment, determination,and perseverance
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Which is not a trait of successful entrepreneur
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trouble fitting in
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Entrepreneurs with a drive to achieve want to
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compete
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Which of the following is not a trait of successful entreprenerus
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frustration
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With persistent problem solving, entrepreneurs
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think anything is possible
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One could correlate _____ with a high energy level
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creativity
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For entrepreneurs, vision describes
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where the entrepreneur wants to go
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Team building
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involves including qualified people in the venture
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A clear pattern among successful entrepreneurs is
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their focus on opportunity rather than resources
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Which of the following is a false statement about entrepreneurs
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they do not use failure as a tool for learning
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Which of the following publications deal with research methodology and are tightly structured
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technical and professional journals
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Which is not a source of information in an entrepreneurial profile
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word of mouth
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One factor not found in high achievers is
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failure to listen to feedback
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Which of the following is not a common characteristic of entrepreneurs
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lack of motivational drive
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Which of the following statements is false
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Entrepreneurs are born with the skills necessary to manage a business
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Which of the following is a true statement about team building
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The entrepreneur needs a competent team to implement an idea
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Which of the following statements is false
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Management skills are not important characteristics for entrepreneurs to possess
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When entrepreneurs believe that their accomplishments and setbacks are within their own control and influence they are exhibiting
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internal locus of control
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If an entrepreneur believes in himself/herself and that their accomplishments and setbacks are within their own control, they possess a(n)
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internal locus of control
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Which of the following is not associated with an entrepreneur seeking feedback
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entrepreneurs want to belittle their competition
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One trait not common in entrepreneurs is
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entrepreneurs need structure
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What characteristic(s) that propel entrepreneurs into success can be exhibited to the “extreme”
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overbearing need for control
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Areas of risk to the entrepreneur include
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career, family, psychic
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With psychic risk you fear
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failure
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Which of the statements below is not a risk faced by entrepreneurs
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business risk
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Small business owners face many day-to-day risks. Which statement is most related to risk
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Entrepreneurs run th risk of having an incomplete family experience
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In starting or buying a new business, the higher the rewards, the
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greater the risk
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Which of the following may be the greatest risk to the well-being of the entrepreneur
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psychic risk
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In the Monroy-Folger Model of Risk Typology, profit-seeking activity is associated with
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strong desire to maximize profit
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Generally, entrpreneurial stress is due to
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the discrepancy between the entrepreneur’s expectations and the ability to meet demands
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Stress can be dealt with by
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networking and delegating
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Which of the following is NOT a source of stress
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success in business
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Which of the following is not a way to combat stress
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ignoring coping mechanisms
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The four major causes of entrepreneurial stress are
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loneliness, immersion in business, people, need to achieve
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The best antidote for relieving the stress involved with total immersion in business is
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getting away from it all
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Entrepreneurial stress can be caused by having a type A personality which can be defined as
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having a chronic sense of time urgency
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According to the text, what is the most ironic type of stress
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immersion in business
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The entrepreneurial ego can cause the entrepreneur to
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take characteristics that usually lead to success to the extreme
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Entreprenuers with a sense of distrust
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scan the environment
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Which of the following is an aspect of the “dark side” of entrepreneurship
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a need for control and a sense of distrust
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Which of the following is not one of the four major traits that characterize the “dark side” of entrepreneurs
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knowing when to take a vacation
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The “dark side” of entrepreneurship refers to
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a destructive force within the energetic drive of entrepreneurs
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_____ was credited with stating, “Individuals are, after all, the energizers of the entrepreneurial process”
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Bradley Johnson
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The decision to behave entrepreneurially is the result of the interaction of
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the individual’s personal entrepreneurial mindset and an opportunity
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When outcomes meet or exceed expectations, _____ is positively reinforced
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entrepreneurial behavior
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Which is not a factor in the Model of Entrepreneurial Motivation
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winning awards
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According to the Model of Entrepreneurial Motivation, when outcomes meet or exceed expectations, the _____ is positively reinforced, and the individual is motivated to continue to behave entrepreneurially
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entrepreneurial behavior

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