Entrepreneurial Leadership Exam Bank
Course Introduction
Entrepreneurial Leadership explores the unique blend of skills, mindset, and strategies required for leading innovative ventures in dynamic environments. The course examines the principles and practices central to entrepreneurial thinking, including opportunity recognition, risk assessment, resource mobilization, and adaptive decision-making. Students will analyze real-world case studies, develop their own entrepreneurial ideas, and engage in experiential learning activities designed to cultivate leadership competencies such as vision creation, resilience, and effective communication. Emphasis is placed on ethical considerations, team building, and the ability to drive change within both startup and established organizational contexts, preparing students to lead with confidence and creativity in diverse entrepreneurial settings.
Recommended Textbook
Entrepreneurship Theory Process and Practice 10th Editionby Donald F. Kuratko
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15 Chapters
444 Verified Questions
444 Flashcards
Source URL: https://quizplus.com/study-set/1416
Page 2
Chapter 1: Entrepreneurship: Evolutionary
Development-Revolutionary Impact
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28 Verified Questions
28 Flashcards
Source URL: https://quizplus.com/quiz/28106
Sample Questions
Q1) The displacement school of thought can be divided into which three groups?
A)political, cultural, environmental
B)cultural, environmental, and financial
C)environmental, financial, and economic
D)economic, cultural, and political
Answer: D
Q2) The "corridor principle" states that entrepreneurs often get stuck on one idea.
A)True
B)False
Answer: False
Q3) The macro view can be broken down into which three areas?
A)environmental, financial, and displacement
B)financial/capital, strategic, and opportunity
C)displacement, trait, and financial
D)entrepreneurial trait, opportunity, and strategic
Answer: A
Q4) Gazelles are almost always high tech.
A)True
B)False
Answer: False
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Chapter 2: The Entrepreneurial Mind-Set in Individuals:
Cognition and Ethics
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30 Verified Questions
30 Flashcards
Source URL: https://quizplus.com/quiz/28107
Sample Questions
Q1) The generation of the twenty-first century may become known as generation E because it is becoming the most entrepreneurial generation since the Industrial Revolution.
A)True
B)False
Answer: True
Q2) Explain and discuss the "dark side" of entrepreneurship.
Answer: The entrepreneurial profile has its destructive side. First,the need for control can become an obsession. The need for control can cause problems in networking and in an entrepreneurial team. A sense of distrust can cause the entrepreneur to lose sight of reality or focus on trivial things. An entrepreneur's desire for success can also be destructive if the individual becomes more important than the venture itself. The last "dark side" trait is external optimism. When the entrepreneur takes optimism to the extreme,he or she may begin using a fantasy approach to the business. Trends,facts,and reports are ignored because the entrepreneur thinks everything will turn out fine.
Q3) There is a certain psychic risk involved with entrepreneurship.
A)True
B)False
Answer: True
Page 4
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Chapter 3: The Entrepreneurial Mind-Set in Organizations: Corporate Entrepreneurship
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28 Verified Questions
28 Flashcards
Source URL: https://quizplus.com/quiz/28108
Sample Questions
Q1) Explain some of the disadvantages that may occur in firms that are trying to incorporate entrepreneurship into their organizations.
Answer: One disadvantage may be that there is resistance to change by some managers. Also,if a company jumps into intrapreneuring too quickly without proper training,there may be some managers left not knowing what to do. If the corporate climate is not right for intrapreneuring,there is almost no chance for success.
Q2) Which of the following terms refers to the systematic evolution of a product or service into newer or larger markets?
A)radical innovation
B)incremental innovation
C)collective entrepreneurship
D)strategic management
Answer: B
Q3) Skunk works are project groups that work within the traditional lines of authority.
A)True
B)False
Answer: False
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Page 5
Chapter 4: Social Entrepreneurship and the Global
Environment for Entrepreneurship
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30 Verified Questions
30 Flashcards
Source URL: https://quizplus.com/quiz/28109
Sample Questions
Q1) Why has sustainable development,perhaps,become the most prominent topic of our time?
Q2) Examples of social enterprise obligations to the environment include all of the following except
A)pollution control
B)restoration of the environment
C)recycling efforts
D)support for minority-own businesses
Q3) Ecopreneurship is a combination of ecologically and economically sustainable development.
A)True
B)False
Q4) Licensing agreements can involve patents,trademarks,and technical know-how.
A)True
B)False
Q5) An L3C is a new legal form for social enterprises known as A)limited liability corporations
B)low-profit, limited liability companies
C)long-term, low-profit, low-liability companies
D)limited liability laborers
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Chapter 5: Innovation: the Creative Pursuit of Ideas
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30 Verified Questions
30 Flashcards
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Sample Questions
Q1) Creativity is most likely to occur when the "climate" is right. The text listed several important characteristics of this climate. What is the right climate?
Q2) Which of the following is a characteristic of creative people?
A)bright but not necessarily brilliant
B)poor image of themselves
C)rigid and dogmatic
D)unmotivated by challenging problems
Q3) One of the most helpful avenues for developing one's own creative talents is to be aware of the habits and mental blocks that stifle creativity.
A)True
B)False
Q4) List and briefly explain each of the phases in the creative process.
Q5) The incubation process involves which of the following?
A)working harder
B)letting the subconscious work
C)talking with friends
D)changing jobs
Q6) Describe the innovation process.
Q7) Identity and describe two arenas of creativity.
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Chapter 6: Assessment of Entrepreneurial Opportunities
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30 Verified Questions
30 Flashcards
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Sample Questions
Q1) Using the failure prediction model discussed in the chapter,the risk of failure can be reduced by:
A)using less debt as initial financing and generating revenue in the initial stages.
B)using more debt as initial financing and generating less revenue in the initial stages.
C)using more revenue to enhance more debt in the initial stage.
D)all of the above.
Q2) What are three critical factors in a new venture assessment?
Q3) What are the five specific feasibility phases that a new venture will go through?
Q4) Solid analysis and evaluation of the feasibility of the product/service idea are critical tasks in starting a new business.
A)True
B)False
Q5) Explain three major reasons why new ventures fail.
Q6) What sorts of legal issues can be overlooked when assessing an entrepreneurial opportunity?
Q7) List and describe three pitfalls in selecting a new venture.
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8
Chapter 7: Pathways to Entrepreneurial Ventures
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28 Verified Questions
28 Flashcards
Source URL: https://quizplus.com/quiz/28112
Sample Questions
Q1) The terms upside gain and downside loss refer to the profits the business can make and the losses it can suffer.
A)True
B)False
Q2) Who must negotiate a final deal to purchase a business?
A)A lawyer
B)A CPA
C)The potential buyer
D)All of the above
Q3) The individual who buys the franchise is the
A)franchisee.
B)franchisor.
C)franchisette.
D)franchatter.
Q4) Briefly explain the new-old approach to creating new ventures.
Q5) In negotiating a deal to purchase an existing business,it is possible to request that the seller retain a minority interest in the firm.
A)True
B)False
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Chapter 8: Sources of Capital for Entrepreneurs
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30 Verified Questions
30 Flashcards
Source URL: https://quizplus.com/quiz/28113
Sample Questions
Q1) Private placement is a method of raising capital through the private placement of securities.
A)True
B)False
Q2) The entrepreneur should ask the venture capitalist _____ questions.
A)at most ten
B)exactly twenty
C)an unlimited number of
D)no
Q3) What are the major types and uses of debt financing?
Q4) An informal risk capitalist is referred to as:
A)your neighbor.
B)a business angel.
C)a retiree.
D)someone with extra money to invest but who is not interested becoming an entrepreneur.
Q5) How does a public offering differ from a private placement?
Q6) Should entrepreneurs accept proposals from the first venture capitalist that offers?
Q7) Are formal firms the only source of venture capital?
Page 10
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Chapter 9: Legal Challenges of Entrepreneurial Ventures
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30 Verified Questions
30 Flashcards
Source URL: https://quizplus.com/quiz/28114
Sample Questions
Q1) Specific forms of partnership include which of the following?
A)limited partnerships
B)limited partnerships and limited liability partnerships
C)limited partnerships and S partnerships
D)S partnerships and limited liability companies
Q2) A trademark is a distinctive name,mark,or symbol that is identified with a company's product.
A)True
B)False
Q3) What are the uses of trademarks and how can they be invalidated?
Q4) The registration of a trademark last for 40 years,with continuous renewal every 10 years.
A)True
B)False
Q5) To effectively pursue a patent violation,experts recommend that the entrepreneur A)handle all matters personally.
B)prepare a realistic budget for infringement.
C)fill out a preprinted form obtained from a patent office.
D)sue as quickly as possible.
Q6) What are the rules for avoiding pitfalls in selecting trademarks?
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Chapter 10: Marketing Challenges for Entrepreneurial Ventures
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30 Verified Questions
30 Flashcards
Source URL: https://quizplus.com/quiz/28115
Sample Questions
Q1) Inhibitors to marketing research include all of the following except:
A)cost
B)irrelevancy
C)complexity
D)distribution
Q2) It is usually more expensive to gather secondary data than primary data.
A)True
B)False
Q3) The 4Ps of marketing include all the following except:
A)principle
B)product
C)price
D)promotion
Q4) In the marketing shift from the 4Ps to the 4Cs,price shifts to choice and promotion shifts to communities.
A)True
B)False
Q5) What three important aspects of social media marketing should entrepreneurs be aware of?
Q6) Explain the new marketing concept? Page 12
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Chapter 11: Financial Preparation for Entrepreneurial Ventures
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30 Verified Questions
30 Flashcards
Source URL: https://quizplus.com/quiz/28116
Sample Questions
Q1) The first step in the preparation of the cash flow budget is the identification and timing of cash outflows.
A)True
B)False
Q2) The principal objective of capital budgeting is to maximize the value of the firm.
A)True
B)False
Q3) Which of the following are forms of pro forma statements?
A)income statements
B)balance sheets
C)costs of goods sold
D)a and b
Q4) Capital budgeting is designed to show
A)how many projects, in total, should be selected.
B)which project is most profitable.
C)which of several mutually exclusive projects should be selected
D)how to evaluate projects based on rates of return.
Q5) List the elements of a capital budget and define its main objective.
Q6) What is included in an operating budget and how is this helpful?
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Chapter 12: Developing an Effective Business Plan
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30 Verified Questions
30 Flashcards
Source URL: https://quizplus.com/quiz/28117
Sample Questions
Q1) Which of the following statements is not part of the "five-minute reading" by venture capitalists?
A)Determine the characteristics of the venture and industry.
B)Determine the strengths and weaknesses of the entrepreneur.
C)Determine the financial structure of the plan.
D)Read the latest balance sheet.
Q2) The comprehensive business plan should be the result of
A)reflections on the direction of the venture.
B)continuous operations of the venture.
C)investor's promises of capital.
D)the entrepreneur's best guesses.
Q3) Which of the following describes advantages of the business plan for financial sources?
A)The plan identifies critical risks.
B)The plan helps assess the entrepreneur's family.
C)the plan identifies sources of capital.
D)all of the above.
Q4) How does a business plan benefit the entrepreneur?
Q5) What is the basic structure of a business plan?
Q6) How should an entrepreneur prepare to present his or her business plan?
Page 15
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Chapter 13: Strategic Entrepreneurial Growth
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30 Verified Questions
30 Flashcards
Source URL: https://quizplus.com/quiz/28118
Sample Questions
Q1) Small business owners are often guarded about their businesses,which leads to
A)distrust of others when formulating a strategic plan
B)a myopic viewpoint
C)misunderstanding of the economic environment
D)lack of attention to the competition
Q2) Which of the following would be considered fatal mistakes in strategic planning,according to researcher Michael E. Porter?
A)no real competitive advantage
B)pursuing a solid competitive position
C)compromising strategy for growth
D)a and c only
Q3) The entrepreneurial strategy matrix measures risk and innovation.
A)True
B)False
Q4) What are important questions to ask,from an entrepreneurial and administrative point of view,when managing entrepreneurial growth?
Q5) Does strategic planning pay off?
Q6) Research has shown that there is a distinct lack of strategic planning in new ventures. Relate some of the reasons for this lack of planning.
Page 16
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Chapter 14: Valuation of Entrepreneurial Ventures
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30 Verified Questions
30 Flashcards
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Sample Questions
Q1) One of the most common reasons for acquiring a business is developing more growth-phase products.
A)True
B)False
Q2) If cash flow is deemed the most important consideration in buying a business,which valuation method is likely to be used?
A)adjusted tangible book value
B)price/earnings ratio
C)high equity/low debt
D)discounted earnings
Q3) "Why is the business being sold?" is not an important question to ask when analyzing the viability of buying a business.
A)True
B)False
Q4) Explain the purpose of a letter of intent.
Q5) Adjusted tangible book value is a popular method of valuation.
A)True
B)False
Q6) List and briefly explain the three methods utilized for business evaluation.
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Chapter 15: Harvesting the Entrepreneurial Venture
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30 Verified Questions
30 Flashcards
Source URL: https://quizplus.com/quiz/28120
Sample Questions
Q1) Which of the following is not a contextual aspect to be considered in an effective succession plan?
A)technology
B)time
C)environmental factors
D)type of venture
Q2) Describe the legal concerns over family business succession citing the Oakland Scavenger case.
Q3) One advantage of an early-entry strategy for the younger generation succeeding the older generation of a family business is
A)normal mistakes are viewed as incompetence.
B)perspective of the environment is broadened.
C)successor's skills are judged with more objectivity.
D)skills specifically required by the business are developed.
Q4) There are two types of succession pressures: family and nonfamily.
A)True
B)False
Q5) Once the decision is made to harvest the business,the way forward is easy. A)True
B)False
18
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