Technology Entrepreneurship
Exam Materials
Course Introduction
Technology Entrepreneurship explores the process of creating, developing, and scaling innovative technology-based ventures. The course covers fundamental concepts such as opportunity recognition, business model innovation, technology commercialization, financing startups, and managing growth in dynamic markets. Students learn to assess emerging technologies, conduct market analysis, navigate intellectual property, and pitch ideas to potential investors. Through case studies, group projects, and interaction with entrepreneurs, participants gain practical insights into the challenges and rewards of launching successful technology-driven enterprises.
Recommended Textbook
Entrepreneurship Successfully Launching New Ventures 5th Edition by Bruce R. Barringer
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15 Chapters
1124 Verified Questions
1124 Flashcards
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Page 2
Chapter 1: Introduction to Entrepreneurship
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75 Verified Questions
75 Flashcards
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Sample Questions
Q1) The number one characteristic shared by successful entrepreneurs is passion for the business.
A)True
B)False
Answer: True
Q2) According to Chapter 1, a sentiment that venture capitalists often express is that
A) the strength of the entrepreneur and the strength of the business idea are of equal importance
B) they would never fund a strong entrepreneur with a weak business idea
C) they would rather fund a strong entrepreneur with a mediocre business idea than fund a strong business idea with a mediocre entrepreneur
D) a new venture's marketing plan is more important than either the strength of the entrepreneur or the strength of the business idea
E) they would rather fund a strong business idea with a mediocre entrepreneur than fund a strong entrepreneur with a mediocre business idea
Answer: C
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Chapter 2: Recognizing Opportunities and Generating Ideas
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75 Verified Questions
75 Flashcards
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Sample Questions
Q1) A common way that gaps in the marketplace are recognized is ________.
A) by observing changing environmental trends
B) by recognizing problems that need to be solved
C) via studying industry reports
D) when people become frustrated because they can't find a product or service that they need and recognize that other people feel the same way
E) via combined focus groups and brainstorming sessions
Answer: D
Q2) ________ is the process of generating a novel or useful idea.
A) Innovation
B) Imagining
C) Creativity
D) Visualization
E) Envisioning
Answer: C
Q3) Evaluation is the stage of the creative process during which the idea is put into its final form.
A)True
B)False
Answer: False
Page 4
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Chapter 3: Feasibility Analysis
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Sample Questions
Q1) The focus in organizational feasibility analysis is on financial resources.
A)True
B)False
Answer: False
Q2) The First Screen feasibility analysis template included in Chapter 3 is called "First Screen" because ________.
A) it is the first feasibility analysis template created
B) it is the first and most important step in the opportunity recognition process
C) it is the first step in a sequence of several steps that must be completed before a business idea is deemed to be feasible
D) feasibility analysis is an entrepreneur's initial or first pass at determining the feasibility of a business idea
E) it is the first of several "screens" that a business idea must pass through before it is considered to be feasible
Answer: D
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Chapter 4: Developing an Effective Business Model
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75 Flashcards
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Sample Questions
Q1) Tyler Smith founded a firm that has a subscription-based business model. Although Tyler has averaged 600 new subscribers per month, she also loses 450 subscribers per month. The number of subscribers that Tyler loses each month is referred to as
A) erosion
B) churn
C) destruction
D) attrition
E) agitation
Q2) Brad Jones is in the process of opening an electronics supply company and is working on the portion of his business plan template that describes how he will deliver his products and services to his customers. The portion of the business plan template that Brad is working on is referred to as ________.
A) channels
B) network
C) linkages
D) grids
E) conduits
Q3) Describe the Barringer/Ireland Business Model Template and discuss its purpose.
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Page 6
Chapter 5: Industry and Competitor Analysis
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Sample Questions
Q1) Firms that pursue a(n) ________ strategy compete for market share on a country-by-country basis and vary their product or service offerings to meet the demands of the local market.
A) inclusive
B) universal
C) multidomestic
D) contemporary
E) worldwide
Q2) In the context of competitor analysis, businesses that offer identical or similar products are referred to as ________ competitors.
A) immediate
B) direct
C) indirect
D) straight
E) urgent
Q3) An emerging industry is one that is characterized by a large number of firms of approximately equal size.
A)True
B)False
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Page 7
Chapter 6: Writing a Business Plan
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Sample Questions
Q1) The Partnering for Success feature in Chapter 4 focuses on the types of partnerships that are common in business plans. According to the feature, businesses often make partnering an essential part of their business plans because they ________.
A) want to obtain a key customer
B) want to increase their visibility
C) want to reduce risk
D) want to appear legitimate
E) have limited resources
Q2) Which of the following business plans matches with its appropriate length?
A) Operational business plan - 10-15 pages
B) Full business plan - 25-35 pages
C) Summary business plan - 25-35 pages
D) Full business plan - 40-100 pages
E) Operational business plan - 25-35 pages
Q3) A sources and uses of funds statement is a document that lays out specifically how much money a firm needs, where the money will come from, and what the money will be used for.
A)True
B)False
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Page 8
Chapter 7: Preparing the Proper Ethical and Legal Foundation
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Sample Questions
Q1) Jessica Marsh just took a job with Instagram. As part of her employment contract, Jessica signed an agreement that states that he will not disclose any of Instagram's trade secrets. The agreement that Jessica signed is called a(n) ________ agreement.
A) nondisclosure
B) non breach-of-trust
C) ethics
D) binding confidentiality
E) legitimacy
Q2) The limited liability corporation is a form of business organization that is rapidly losing popularity in the United States.
A)True
B)False
Q3) A disadvantage of a sole proprietorship is that it is subject to double taxation.
A)True
B)False
Q4) Stock options are a special form of incentive compensation.
A)True
B)False
Page 9
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Chapter 8: Assessing a New Venture's Financial Strength and Viability
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Sample Questions
Q1) The pro forma ________ provides a firm a sense of how its activities will affect its ability to meet its short-term liabilities and how its finances will evolve over time.
A) balance sheet
B) statement of cash flows
C) income statement
D) expense statement
E) statement of owners' equity
Q2) Which financial statement records all of a firm's revenues and expenses for a given period and shows whether the firm is making a profit or experiencing a loss?
A) Balance sheet
B) Owner's equity statement
C) Statement of cash flows
D) Forecast
E) Income statement
Q3) The major categories of assets listed on a balance sheet include current, fixed, and other assets.
A)True
B)False
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Chapter 9: Building a New-Venture Team
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Sample Questions
Q1) Which of the following was not identified in the textbook as an attribute of an effective board of directors?
A) Homogeneous set of experiences and talents
B) Customer-focused point of view
C) Ability and willingness to stand up to the CEO and top managers of the firm
D) Strong communication with the CEO
E) Decisiveness
Q2) Networking is building and maintaining relationships with people whose interests are similar or whose relationship could bring advantages to a firm.
A)True
B)False
Q3) A board of directors' three formal responsibilities are to appoint the officers of the firm, oversee the affairs of the corporation, and ________.
A) conduct the annual meeting
B) provide funding for the firm
C) submit the firm's annual report to the stockholders
D) declare dividends
E) write the firm's strategic plan
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11
Chapter 10: Getting Financing or Funding
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Sample Questions
Q1) The three common sources of "personal" financing for a startup firm are personal funds, friends and family, and bootstrapping.
A)True
B)False
Q2) Bootstrapping is the process of combining personal funds, equity investments, and bank financing to launch a business.
A)True
B)False
Q3) Historically, commercial banks have been viewed as an excellent source of financing for startup firms.
A)True
B)False
Q4) The two types of crowdfunding sites are ________-based and ________-based.
A) rewards; equity
B) equity; debt
C) expectations; performance
D) private; nonprivate
E) domestic; international
Q5) Why do most firms need funding? Provide a brief explanation of each reason.
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Chapter 11: Unique Marketing Issues
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Sample Questions
Q1) The What Went Wrong feature in Chapter 11 focuses on a series of missteps at JCPenney under the tenure of then CEO Ron Johnson. According to the feature, Johnson's three most damaging marketing-related mistakes were ________.
A) no testing of ideas in advance, poor product quality, and poor sales training for employees
B) reluctance to embrace online sales, a shift from value-based to cost-based pricing, and poor sales training for employees
C) poor product quality, a total misread of JCPenney's brand, and poor use of social media
D) Fair and Square Pricing, no testing of ideas in advance, and a total misread of JCPenney's brand
E) poor use of social media, Fair and Square Pricing, and poor sales training for employees
Q2) What is the purpose of market segmentation? How are markets typically segmented? Can a company segment its market on more than one dimension?
Q3) What is an exclusive distribution agreement? Why do firms enter into exclusive distribution agreements with other firms?
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Page 13
Chapter 12: The Importance of Intellectual Property
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Sample Questions
Q1) Which of the following selections correctly identifies the three types of patents?
A) Manufacturing; process; plant
B) Usefulness; purpose; genetic
C) Explicit; implicit; plant
D) Utility; design; plant
E) Manufacturing; service; other
Q2) Which of the following items would typically be protected by a form of intellectual property protection other than trade secret statutes?
A) Financial forecast
B) Product formula
C) A company's logo
D) Logs of sales calls
E) Employee roster
Q3) The term of a utility patent is ________ years from the date of the ________.
A) 7; patent is granted
B) 15; initial application
C) 15; patent is granted
D) 20; initial application
E) 20; patent is granted
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Page 14
Chapter 13: Preparing for and Evaluating the Challenges of Growth
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Sample Questions
Q1) ________ means that as the number of employees a firm needs increases, it becomes increasingly difficult for it to find the right employees, place them in appropriate positions, and provide adequate supervision.
A) Moral hazard
B) Adverse selection
C) Adverse hazard
D) Complex hazard
E) Complex selection
Q2) A business's early growth stage is generally characterized by increasing sales and heightened complexity.
A)True
B)False
Q3) Define the term "market leadership." Why do firms work hard to obtain market leadership?
Q4) Few businesses need access to capital to fuel their growth.
A)True
B)False
Q5) What is the organizational life cycle and why is it important?
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Chapter 14: Strategies for Firm Growth
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Sample Questions
Q1) The ________ is the company that owns the intellectual property. The ________ is the company purchasing the right to use it.
A) endorsee; endorser
B) licensor; licensee
C) licensor; endorsee
D) endorser; endorsee
E) licensee; licensor
Q2) The Partnering for Success feature in Chapter 14 is titled "Three Steps to Alliance Success." The three steps to alliance success identified in the feature are ________.
A) drafting a licensing agreement, setting up a governance structure, and making it work
B) selecting a partner, cutting the deal, and making it work
C) interviewing potential partners, cutting the deal, and supervising the implementation of the agreement
D) drafting a licensing agreement, cutting the deal, and setting up a governance structure
E) selecting an alliance "manager," setting up a governance structure, and making it work
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Chapter 15: Franchising
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Sample Questions
Q1) Which of the following companies is suitable for franchising?
A) Home Depot
B) Dropbox
C) Qdoba Mexican Grill
D) Walmart
E) GoPro
Q2) According to the textbook, the main disadvantage of buying a franchise is
A) franchise organizations typically grow slower than non-franchise organizations in the same industry
B) franchisors typically provide poor levels of support
C) the cost involved
D) the service sector of the U.S. economy is waning in importance
E) franchising is waning in its popularity
Q3) Which of the following is not an advantage of buying a franchise?
A) A proven product or service within an established system
B) Franchisor ongoing support
C) Availability of financing
D) Potential for business growth
E) Duration and nature of the commitment
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