MNGT Chapter 1 – Flashcards
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The statement, "with every new venture launched, new and unintended opportunites often arise," would be associated with:
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The corridor principle
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Entrepreneurs are born not made
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false
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The word entrepreneur is derived from the French entreprendre, which is translated as
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To undertake
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Entrepreneurs are high risk takers
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false
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The micro view is divided into which three categories
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Venture opportunity theory, entrepreneurial, strategic
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A "gazelle" is a business establishment with at least 20% sales growth every year for 5 years
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true
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The word entrepreneur is derived from the Spanish word entreprendre, meaning "to undertake."
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false
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Which of the following statements is true?
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Entrepreneurship is the ability to create and build a vision from practically nothing.
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Which of the following statements best describes a "gazelle"?
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A business with at least 20% growth every year
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The macro view can be broken down into which three areas?
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environmental, financial, and displacement
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Entrepreneurs and gazelles have been credited with making disproportionate contributions to all but which of the following?
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unemployment
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entrepreneurs are aggressive catalysts for change within the marketplace
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true
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Michael Gerber, the author of the E-Myth, explains the the failure of most small businesses is due to
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owners being more technical rather than entrepreneurial
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The "corridor principle" states that entrepreneurs get stuck on one idea
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false
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Which of the following is not a common myth about entrepreneurs
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entrepreneurs today are considered heroes
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the macro view of entrepreneurship presents factors exhibiting a strong
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external locus of control
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During the past ten years, new business incorporations averaged nearly 600,000 per year
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True
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the "corridor principle" is best described by which of the following statements?
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With every new venture launched, new and unintended opportunities arise
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The macro view of entrepreneurship includes external processes that are sometimes beyond the control of the entrepreneur
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true
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throughout the years, many myths have arisen about entrepreneurship as a result of?
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a lack of research about entrepreneurship
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mountain gap strategies refer to
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Unique markets
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the process approach to entrepreneurship seeks to
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model the various factors that characterize the entrepreneurial process
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The displacement school of thought can be divided into which three groups?
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economic, cultural, and political
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Entrepreneurs always start their business at a young age
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false
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Gazelles are almost always high tech
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false
