Entrepreneurial Leadership Test Preparation
Course Introduction
Entrepreneurial Leadership explores the distinctive mindset, skills, and behaviors required to lead new ventures and drive innovation within existing organizations. The course examines how entrepreneurs identify opportunities, mobilize resources, and develop sustainable business models while navigating uncertainty and change. Students will analyze case studies, engage in experiential learning, and develop competencies in strategic decision-making, team building, and ethical leadership. Emphasis is placed on creativity, resilience, and the ability to inspire and empower others toward achieving shared goals in dynamic environments.
Recommended Textbook
Entrepreneurship 9th Edition by Robert D Hisrich
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15 Chapters
1225 Verified Questions
1225 Flashcards
Source URL: https://quizplus.com/study-set/3098
Page 2
Chapter 1: Entrepreneurship and the Entrepreneurial
Mind-Set
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49 Verified Questions
49 Flashcards
Source URL: https://quizplus.com/quiz/61403
Sample Questions
Q1) An entrepreneur is rarely able to start a new business without some form of formal education.
A)True
B)False
Answer: False
Q2) Individuals have stronger intentions to act when taking action is perceived to be _____ and desirable.
A)elusive
B)feasible
C)flexible
D)risky
Answer: B
Q3) Within the moral-support network,most entrepreneurs indicate that their _____ are their biggest supporters.
A)mentors
B)friends
C)parents
D)spouses
Answer: D
Page 3
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Chapter 2: Entrepreneurial Intentions and Corporate Entrepreneurship
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48 Verified Questions
48 Flashcards
Source URL: https://quizplus.com/quiz/61402
Sample Questions
Q1) The typical corporate culture has a climate and a reward system that favor activist decision making.
A)True
B)False
Answer: False
Q2) All these are characteristics of an entrepreneurial environment except:
A)there are short term horizons.
B)new ideas are encouraged.
C)the organization operates on frontiers of technology.
D)it uses a multidiscipline teamwork approach.
Answer: A
Q3) A sufficient time for top management to be committed to corporate entrepreneurship is:
A)at least one year.
B)at least two years.
C)at least three years.
D)at least ten years.
Answer: C
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Chapter 3: Entrepreneurial Strategy: Generating and Exploiting New Entries
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93 Verified Questions
93 Flashcards
Source URL: https://quizplus.com/quiz/61401
Sample Questions
Q1) A "me-too" strategy consists of copying products that already exist and attempting to build an advantage through minor variations.
A)True
B)False
Answer: True
Q2) The period of time when the environment is favorable for entrepreneurs to exploit a particular new entry is the:
A)market research phase.
B)window of opportunity.
C)technology window.
D)narrow-scope strategy.
Answer: B
Q3) Market research,such as surveys,has limited effectiveness because it is often difficult for customers to articulate the underlying problems they have with a product or service.
A)True
B)False
Answer: True
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Page 5
Chapter 4: Creativity and the Business Idea
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87 Verified Questions
87 Flashcards
Source URL: https://quizplus.com/quiz/61400
Sample Questions
Q1) Every website should have search capabilities.
A)True
B)False
Q2) _____ is not desirable when brainstorming is in process.
A)"Freewheeling"
B)Idea combination and improvement
C)Generating a large quantity of ideas
D)Criticism
Q3) Which area of e-commerce experienced the largest increase in sales from 2010-2011?
A)Digital content and subscriptions
B)Events tickets
C)Consumer Electronics
D)Jewelry and watches
Q4) The opportunity recognition process contains all of the following except:
A)work experience
B)reformation
C)entrepreneurial alertness
D)networks
Q5) Give 5 examples of questions that could be asked using the checklist method.
Page 6
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Chapter 5: Identifying and Analyzing Domestic and International Opportunities
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73 Verified Questions
73 Flashcards
Source URL: https://quizplus.com/quiz/61399
Sample Questions
Q1) The General Agreement on Tariffs and Trade is an attempt to impose significant tariffs on business between nations.
A)True
B)False
Q2) According to the text,the most prevalent reason for mergers is:
A)taxation.
B)economies of scale.
C)currency fluctuations.
D)to combine complementary resources.
Q3) Which among the following influences whether customers are able to use the good or service properly and whether they are able to understand the firm's advertising or other promotional messages?
A)Political philosophy
B)Religion
C)Manners and customs
D)Education
Q4) Reference groups in any culture provide values and attitudes that influence behavior.
A)True B)False
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Chapter 6: Intellectual Property and Other Legal Issues for the Entrepreneur
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76 Verified Questions
76 Flashcards
Source URL: https://quizplus.com/quiz/61398
Sample Questions
Q1) A trade secret is protected by state law.
A)True
B)False
Q2) What type of insurance would cover fire or burglary damage?
A)Property
B)Bonding
C)Life
D)Workers' Compensation
Q3) A _________ is a contract between the government and an inventor.
A)patent
B)franchise
C)trademark
D)trade secret
Q4) Identify and describe the three different types of patents.
Q5) Contracts for the sale of real estate must be in writing to be valid.
A)True
B)False
B)False Page 8
Q6) Licensing a trademark generally involves a franchising agreement. A)True
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Page 9
Chapter 7: The Business Plan: Creating and Starting the Venture
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89 Verified Questions
89 Flashcards
Source URL: https://quizplus.com/quiz/61397
Sample Questions
Q1) Which U.S.Census publication provides information about production and shipments on a wide range of products?
A)Service Annual Survey
B)Current Industrial Report
C)County Business Patterns
D)Annual Survey of Manufacturers
Q2) Bankers agree that most business failures are due to the entrepreneur's inability to obtain financing.
A)True
B)False
Q3) The introductory page of the business plan should contain the amount of financing needed.
A)True
B)False
Q4) An evaluation of cultural changes is irrelevant to the venture and should not be included in the business plan.
A)True
B)False
Page 10
Q5) Explain the purpose and content of the executive summary of the business plan.
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Chapter 8: The Marketing Plan
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89 Verified Questions
89 Flashcards
Source URL: https://quizplus.com/quiz/61396
Sample Questions
Q1) Interviewing is less expensive than observation.
A)True
B)False
Q2) The final price of a product or service is the sum of total cost plus profit margin.
A)True
B)False
Q3) Networking can be used as an informal method of gathering primary data.
A)True
B)False
Q4) Identify and explain the three basic questions a marketing plan should answer.
Q5) The major interacting components that enable a firm to successfully provide products to the marketplace are called the:
A)marketing plan.
B)marketing mix.
C)marketing system.
D)marketing structure.
Q6) List the 4 major factors of the external environment identified by the marketing system.
Q7) Identify the 4 major considerations in distribution channel selection.
Page 11
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Chapter 9: The Organizational Plan
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91 Verified Questions
91 Flashcards
Source URL: https://quizplus.com/quiz/61395
Sample Questions
Q1) In a limited liability company:
A)laws governing its formation differ from state to state.
B)members may transfer their interests at any time.
C)members are not allowed to share income,profit,expense,deduction,loss and credit among themselves.
D)owners are called shareholders.
Q2) Eric Ryan and Adam Lowry started Method Products because:
A)they were both unhappy in their jobs.
B)a friend tipped them off to market trend of green products.
C)Ryan's background as a scientist gave him the idea for a clean dish washing liquid.
D)Lowry heard,in his previous job as a marketer,that distributors were looking for green products.
Q3) Method Products,Inc.is expected to surpass $110 million in sales in 2011.
A)True
B)False
Q4) Investors usually insist that the management team not operate the business as a part-time venture.
A)True
B)False
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Chapter 10: The Financial Plan
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88 Verified Questions
88 Flashcards
Source URL: https://quizplus.com/quiz/61394
Sample Questions
Q1) Sales in excess of the break-even point will result in a profit,as long as the selling price remains above the cost to produce each unit.
A)True
B)False
Q2) ________ represent(s)money that is owed to creditors.
A)Assets
B)Cash flow
C)Owner equity
D)Liabilities
Q3) Which of the following would be considered a variable expense?
A)Rent
B)Raw materials
C)Interest
D)Insurance
Q4) Many profitable firms fail because of lack of cash.
A)True
B)False
Q5) Assets represent the net worth of the firm.
A)True
B)False
Page 13
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Chapter 11: Sources of Capital
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97 Verified Questions
97 Flashcards
Source URL: https://quizplus.com/quiz/61393
Sample Questions
Q1) Debt financing requires the entrepreneur to repay the amount borrowed plus interest.
A)True
B)False
Q2) External investors generally require the entrepreneur to commit a large percentage of his or her personal assets.
A)True
B)False
Q3) The SBA's Microloan program provides short-term loans of up to $100,000 to small businesses for working capital or purchase of inventory.
A)True
B)False
Q4) The most frequently used source of funds for start-ups is:
A)the entrepreneur's personal funds.
B)bank loans.
C)credit cards.
D)SBA loans.
Q5) Explain the three major components of an R&D partnership.
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Chapter 12: Informal Risk Capital, venture Capital, and Going Public
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102 Verified Questions
102 Flashcards
Source URL: https://quizplus.com/quiz/61392
Sample Questions
Q1) Dividing net profit by total assets shows a firm's:
A)current ratio.
B)debt ratio.
C)net profit margin.
D)return on investment.
Q2) The informal investment market contains the smallest pool of risk capital in the U.S.
A)True
B)False
Q3) When there is a significant disparity between the offering price of the shares and the price paid for shares by officers,directors,or founding stockholder,this issue is addressed in the:
A)dilution section.
B)section on risk factors.
C)the business section.
D)the capitalization section.
Q4) In private venture capital firms,limited partners provide the funding and the general partner manages the fund.
A)True
B)False
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Chapter 13: Strategies for Growth and Managing the Implication of Growth
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82 Verified Questions
82 Flashcards
Source URL: https://quizplus.com/quiz/61391
Sample Questions
Q1) If employees are spread too thin because of growth,the firm will face problems of employee morale and increased employee turn over.
A)True
B)False
Q2) Using a time sheet to record usage of time is part of the principle of:
A)desire.
B)effectiveness.
C)prioritized planning.
D)analysis.
Q3) The principle of reanalysis requires the entrepreneur to categorize his or her tasks by their degree of importance and then to allocate time to tasks based on this categorization.
A)True
B)False
Q4) An increase in supplier prices may require:
A)raising the price of products/services.
B)purchase of lesser inventory.
C)an increase in the purchasing budget.
D)reviewing all other expenses and perhaps institute tighter controls.
Q5) Explain the 4 types of entreprenuers and firm growth.
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Chapter 14: Accessing Resources for Growth From External Sources
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90 Verified Questions
90 Flashcards
Source URL: https://quizplus.com/quiz/61390
Sample Questions
Q1) One advantage to an acquisition is that there is an established customer base.
A)True
B)False
Q2) When an entrepreneur bootstraps the purchase of a company,none of the price of the acquisition is cash.
A)True
B)False
Q3) Lack of synergy is one of the most frequent causes of an acquisition's failure to meet its objectives.
A)True
B)False
Q4) Joint ventures are sometimes called:
A)mergers.
B)strategic alliances.
C)acquisition.
D)leveraged buyout.
Q5) Most ventures that are up for sale have good to very successful profit records. A)True B)False
Q6) What are the 4 major factors in joint venture success? Page 17
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Page 18
Chapter 15: Succession Planning and Strategies for
Harvesting and Ending the Venture
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71 Verified Questions
71 Flashcards
Source URL: https://quizplus.com/quiz/61389
Sample Questions
Q1) Only 60% of businesses have a succession plan in place.
A)True
B)False
Q2) Exchanging stock or something else for existing debt under Chapter 11 bankruptcy is called:
A)amendment.
B)extension.
C)composition settlement.
D)substitution.
Q3) From the chapter on the characteristics of an entrepreneur,we know that after the failure of a business entrepreneurs are likely to:
A)continue starting new ventures.
B)look for a position working for someone else.
C)go to work for the government.
D)try again and fail.
Q4) It is best for the entrepreneur to have any litigation in existence transferred to the bankruptcy court.
A)True
B)False
Page 19
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