Entrepreneurial Leadership Exam Review
Course Introduction
Entrepreneurial Leadership explores the unique skills, mindsets, and strategies required to lead innovative ventures in dynamic environments. This course examines the intersection of entrepreneurship and leadership, focusing on topics such as opportunity recognition, vision creation, team building, ethical decision-making, risk management, and resilience. Students will learn to foster creativity within diverse teams, develop sustainable business models, and navigate challenges faced by startups and growing organizations. Through case studies, self-assessment, and hands-on projects, the course prepares aspiring leaders to inspire, motivate, and drive positive change in both new and established enterprises.
Recommended Textbook
Entrepreneurship The Practice and Mindset 1st Edition by Heidi M. Neck
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18 Chapters
1697 Verified Questions
1697 Flashcards
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Chapter 1: Entrepreneurship: a Global Social Movement
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100 Verified Questions
100 Flashcards
Source URL: https://quizplus.com/quiz/43885
Sample Questions
Q1) Global Entrepreneurship Monitor focuses its study on the level of total entrepreneurial activity (TEA) in different countries, ______.
A)identifying the percentage of the population of each country between 18 and 64 who are either nascent entrepreneurs or owner-managers of a new business
B)quantifying the number of hours a month entrepreneurs work in their business
C)measuring the opportunities available per country
D)measuring the financial impact of cultural differences between the countries
Answer: A
Q2) According to Yunus, the professor of economics who started the Grameen Bank, the name Grameen means
A)to trust
B)bank of the villages
C)of the people, for the people
D)small
Answer: B
Q3) Entrepreneurship is a life skill.
A)True
B)False
Answer: True
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Page 3
Chapter 2: Practicing Entrepreneurship
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100 Verified Questions
100 Flashcards
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Sample Questions
Q1) Bill wants to start a restaurant that fuses Mexican and Thai foods.He does not really know if this concept will be viable so he opens up the restaurant with a limited menu and has each customer fill out a questionnaire to gather information.Then, he will formulate a business plan, apply for bank loans and investor funding, lease a building, on so on.Bill is using ______.
A)creation in action
B)prediction in action
C)business planning in action
D)strategy development in action
Answer: B
Q2) Entrepreneurship is not linear or predictable; it is ill-defined, unstructured, and complex.
A)True
B)False Answer: True
Q3) The skill of reflection includes narrative, emotional, perceptive, and critical reflections.
A)True
B)False Answer: True
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Chapter 3: Developing an Entrepreneurial Mindset
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100 Verified Questions
100 Flashcards
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Sample Questions
Q1) Debra is always told by her faculty that she tries hard.As an entrepreneur, Debra
A)is a type A personality
B)tries too hard to see the big picture
C)has the growth mindset
D)has the fixed mindset
Answer: C
Q2) Being successful as an entrepreneur is dependent on which of the following?
A)your family's financial status
B)Your friends and family must be financial able to fund your endeavor.
C)your choice every day between the easy way and the right way
D)your idea or product
Answer: C
Q3) When Mandi is frustrated, she perseveres until she resolves the issue causing her frustration.Mandi has a ______.
A)growth mindset
B)fixed mindset
C)angry mindset
D)right attitude
Answer: A
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Chapter 4: Supporting Social Entrepreneurship
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100 Verified Questions
100 Flashcards
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Sample Questions
Q1) Sasha is an excellent candidate for ______, a networking and support organization for leading social entrepreneurs hand-selected to join a prestigious network.
A)Schwab Foundation of Social Entrepreneurship
B)Skoll Foundation
C)Social Edge
D)Social Enterprise Alliance
Q2) Large complex social problems where there is no clear solution and where there is limited, confusing, or contradictory information available is described as a third world crisis.
A)True
B)False
Q3) CSR stands for ______.
A)corporate social responsibility
B)consolidated social reporting
C)customer service relationships
D)customer social responsibility
Q4) Describe the tailored-financing characteristics of venture philanthropists.
Q5) Using the typology of ventures, list and describe the four types of ventures.
Q6) Describe venture philanthropy funding.
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Chapter 5: Generating New Ideas
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100 Verified Questions
100 Flashcards
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Sample Questions
Q1) Brantley has a strong skill set that requires him to be open to diverse and fluctuating circumstances and events.Brantley's process is ______.
A)challenging
B)development strategies
C)expanding
D)exposing
Q2) Maci has an idea for a business.For it to be recognized as an opportunity, the idea must be ______.
A)unique
B)something that people need, desire, and find useful or valuable
C)tried and true
D)market researched already
Q3) Walt likes to suspend disbelief and drops constraints in order to create unrealistic states, or fantasies.Walt is using which strategy of idea generation?
A)analytical strategy
B)search strategy
C)imagination-based strategy
D)habit-breaking strategy
Q4) List 5 of the everyday spinoffs from NASA.
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Chapter 6: Using Design Thinking
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102 Verified Questions
102 Flashcards
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Sample Questions
Q1) The act of knowing what people want, how they behave, what they think, and how they feel is referred to by which of the following terms?
A)customer identification
B)needs assessment
C)empathy
D)observation
Q2) After an interview, it is a good idea to write down additional observations and insights from body language and tone of voice.
A)True
B)False
Q3) Describe how one can "step into the shoes" of another in order to empathize.
Q4) What was the method that Haupt and Alstin used to gather information about adults' current attitudes toward helmets?
A)one-on-one interviews
B)anonymous questionnaires
C)overhearing customers talk about the product
D)monitoring social media websites
Q5) Describe why asking what people need is or is not the best start to the design process.
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Chapter 7: Testing and Experimenting in Markets
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100 Verified Questions
100 Flashcards
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Sample Questions
Q1) What do the authors suggest about using data that was not specifically gathered to test the hypothesis?
A)It can be discarded as it will not address the issue at hand.
B)It should not be ignored.Keep track of everything.
C)It should be kept if it is positive information.
D)Discard it unless there is a minimum of six pieces of information saying the same thing.
Q2) What is necessary for a prototype to be effective?
A)It must be a working model of the product or service.
B)It must communicate what our ideas look like, behave like, and how they work.
C)It must be the same as the model that will be launched at the start of the business.
D)It must include engineering models or, for a service, an operational plan.
Q3) The first step of the scientific process for an entrepreneur is which of the following?
A)to conduct a thorough Internet search
B)to develop the hypothesis
C)to ask a lot of questions
D)to analyze the data
Q4) Describe why storyboarding is an effective form of experimentation.
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Page 9
Chapter 8: Building Business Models
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99 Verified Questions
99 Flashcards
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Sample Questions
Q1) Andrew owns a popular, but expensive Chinese restaurant.In order to introduce more people to his brand, he offers a series of one-time "taste fairs" in which he brings his recipes to a locally sponsored event.Customers are able to pay modest amounts for small servings of his creations while not paying for the ambiance of the famous restaurant.What need is Andrew addressing?
A)the restaurant's lack of customers
B)customers' lack of money
C)customers' lack of time
D)the customers' lack of access
Q2) Alice picks up a package of security software and reviews the back cover.On it, it lists various features and compares the software's performance against its competitors, relative to those features.The result is a matrix of xs and the software has more xs than its competitors.This approach to CVP demonstrates which of the following?
A)all-benefits approach
B)points-of-difference approach
C)point-summary approach
D)competitive assessment approach
Q3) Identify the customer value proposition of your local cable company.
Q4) Explain why a shopping center is an example of a multisided market.
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Chapter 9: Planning for Entrepreneurs
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101 Verified Questions
101 Flashcards
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Sample Questions
Q1) What competitive strategy did Bark 'N Leash learn from observing posts of competitors' Facebook and Instagram sites?
A)establishing locations
B)learning about competitor weaknesses in customer service, marketing, and operational skills
C)learning the different areas where dog walking was allowed
D)hours of service
Q2) Why do you want to remove any fluff from your business plan?
A)You do not want to sound decorative.
B)It is best to use indirect language.
C)Fluff can take away from the main message.
D)Your audience may be excellent writers.
Q3) Imagine that you are opening a store that offers landscaping supplies to homeowners.Select which methods you would use in creating your plan for the business.
Q4) Which of the following would be considered in a feasibility study?
A)financial projections
B)the size of the market
C)the founding team
D)the three year plan
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Chapter 10: Creating Revenue Models
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101 Verified Questions
101 Flashcards
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Sample Questions
Q1) A cell phone company offers a promotional in which they give away a free phone to people who purchase the highest-level data usage plan.This is an example of which of the following?
A)balance subsidies
B)promotional subsidies
C)direct cross-subsidies
D)risk reduction subsidies
Q2) According to research, if several people sign up for free products but do not upgrade to the premium products, then the free products offer too much and should be cut back.
A)True
B)False
Q3) A grocery store offers cans of vegetables at 10 for $10.This is most likely which of the following pricing strategies:
A)skimming
B)fair pricing
C)psychological pricing
D)customer-led pricing
Q4) Find an example of sponsored or suggested content.Describe how the revenue model works.
Page 12
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Chapter 11: Learning From Failure
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99 Verified Questions
99 Flashcards
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Sample Questions
Q1) In studying the life of Abraham Lincoln, what can be said about his personal reaction to failure?
A)He learned from all his experiences, making it possible to achieve greatness.
B)He kept trying new things until he found something that he was good at.
C)He kept trying new things until the conditions supported his success.
D)He failed at everything, but we admire him for his grit.
Q2) Once you know that you suffer from fear of failure, which of the following would be a strategy to cope with it?
A)keep your goals the same and don't sway off the path
B)separate facts from feelings
C)make goals a bit harder so that if you fail there will be more reason for it
D)think about what others will think about you
Q3) We often fail to hear about the reasons for business failures.Why is this the case?
A)Expressing the emotions of failure are difficult so people do not talk about the failure.
B)People may be unaware of their role in the failure.
C)People blame external reasons for their failure.
D)No one is interested in hearing about failures.
Q4) Define the term intentional iteration and explain why it is important.
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Page 13
Chapter 12: Bootstrapping for Resources
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100 Verified Questions
100 Flashcards
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Sample Questions
Q1) What should be done with the product concept in order to conduct a successful campaign?
A)Provide schematic designs or service examples so that the product is clear.
B)Offer samples of the product so that the investor can have a hands-on experience with the product.
C)Test and refine the idea so that the product is clear and the investor knows what problem the product solves.
D)Test the product with a survey or beta test prior to the campaign.
Q2) What is the characteristic of the reward model of crowdfunders?
A)investors provide financial support with no expectation of direct return
B)investors are rewarded for their financial support
C)equity is exchanged for the contribution
D)funds are treated as loans
Q3) What is the characteristic of the patronage model of crowdfunders?
A)investors provide financial support with no expectation of direct return
B)investors are rewarded for their financial support
C)equity is exchanged for the contribution
D)funds are treated as loans
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Chapter 13: Financing for Startups
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99 Verified Questions
99 Flashcards
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Sample Questions
Q1) ______ angels are likely to intervene if the business is not going well.
A)Entrepreneur
B)Professional
C)Enthusiast
D)Micromanagement
Q2) What is the ultimate reason for trading equity for financial support?
A)it is more likely that the entrepreneur will build a more valuable company
B)it is usually a deal/no deal option
C)there will be more people interested in the company's success
D)preparing for the questions asked in pitching and due diligence will ultimately improve the company
Q3) How is a seed company valued?
A)on the anticipation of future growth
B)on the value that it has on hand
C)by the number of shareholders
D)on the basis of its financial history
Q4) Because they are investors, angel investors and venture capitalists do not usually have an exit plan.
A)True
B)False
Page 15
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Chapter 14: Developing Networks
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101 Verified Questions
101 Flashcards
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Sample Questions
Q1) Which of the following is likely to be contributing to a lack of confidence when presented with a potential mentor or role model?
A)fear of not asking the right question
B)fear that the person will not talk to them
C)a difference of social class
D)differences in educational level
Q2) Which of the following reflects the three dimensions of social capital?
A)financial, product, and service
B)financial, production, and market
C)relational, structural, and cognitive
D)relational, durational, and commitment
Q3) Which set of characteristics is associated with a great founding team?
A)technical skills, intelligence, ability to cope with pressure
B)ability to cope with pressure, social and technical skills, ability to overcome complex obstacles
C)financial backing, large social networks, business-related skillsets
D)ability to cope with pressure, social skill, financial stability
Q4) Identify four members of your social network and assess the type of classifications they would represent.
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Chapter 15: Navigating Legal and Ip Issues
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101 Verified Questions
101 Flashcards
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Sample Questions
Q1) Which of the following is true about filing for a patent?
A)Patents are based on a "first to file" basis.
B)Patents are based on a "first to invent" basis.
C)Patents can be shared if multiple people invent the same product.
D)Patents are awarded to the best design should multiple people file at the same time.
Q2) In an S corporation, taxes are "passed through." This means which of the following?
A)the individual pays twice, taxes on profits and taxes on income
B)the individual pays no taxes because the company has already been taxed
C)income that the owner takes is reported on personal income taxes only
D)the revenue that the owner takes to live on is not taxed
Q3) Which of the following is the official authoritative source for information about copyrights?
A)Google Patents
B)SCC
C)U.S.Copyright Office
D)Patent Pro
Q4) Protecting intellectual property is of growing concern to today's modern entrepreneur.Briefly describe why this is so.
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Page 17
Chapter 16: Marketing and Pitching Your Idea
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102 Verified Questions
102 Flashcards
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Sample Questions
Q1) What is the best way to start determining the success of a guerilla marketing campaign?
A)an increase in sales
B)an increase of activity on social and traditional media mentioning your company and campaign
C)employee feedback
D)a market survey that asks questions about interest in your product or service
Q2) GreenGrow Landscaping services prides itself on innovative and creative designs.On their business cards and all media, they show a green leaf with a distinctive "G" formed by the stem.This is an example of which of the following:
A)a tagline
B)a brand
C)a logo
D)copyright
Q3) What are the advantages of site maps, mark-up tags, and keywords?
A)the ability of search engines to categorize your website
B)an increased ability to be picked up by search engines
C)a more organized website
D)they increase the ability of users to navigate your site
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Page 18
Chapter 17: Financial Statements and Projections for Startups
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Sample Questions
Q1) Describe how you calculate CCC, Cash Conversion Cycle.
Q2) The backlog report is ______.
A)the amount of money that the company owes vendors
B)the amount of money due to a company from its customers
C)the orders that have been received but not delivered to the customer
D)the orders that have been delivered to the customer but not yet received
Q3) Arabella went to her accountant and learned about DOI, defined as the ______.
A)measures the number of days it takes to collect on accounts receivable
B)measures the average number of days it takes to sell the entire inventory of a company
C)measures the number of days it takes you to pay your bills
D)equals DOI + DSO - DPO
Q4) Sandy's balance sheet is partially completed.However, she has total assets of $120,000 and total stockholder's equity of $15,000.Her liabilities should total $105,000.
A)True
B)False
Q5) Provide the line by line format of an income statement.
Page 19
Q6) Provide the line by line format of the Statement of Cash Flows.
Q7) Compare and contrast the Balance Sheet and the Statement of Cash Flows.
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Chapter 18: the Pitch Deck
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Sample Questions
Q1) Gwen spent months developing competitor analyses and differentiation information and has it in a visual she titled Competitive Grid.She wonders if this information should be included in her pitch deck.You tell her:
A)to include it in the pitch deck, around slide #8
B)to be private, as competition might take the opportunity away if they heard what you were doing
C)it should come at the end of the deck
D)it should be spoken, not in the slide deck
Q2) Paisley is cautious about sharing too much information with people about her new venture and considers her competition and how she differentiates from them as private and confidential.Gael tells her to not share this information with others.Gael gives good advice.
A)True
B)False
Q3) You are the entrepreneur and have just finished an important pitch deck presentation.You are asked, "Who believes in you, and how can I get in touch with them?" How do you answer?
Q4) Discuss the nature and purpose of using pitch decks.
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