BZ 450 BZ450 EXAM 2 ANSWERS - ASHWORTH
BZ450 Being an Entrepreneur Exam 2 Answers (Ashworth)
In 2000, Tish Cirovolo realized that there were no guitars on the market made specifically for women. As a result, she started Daisy Rock Guitars, a company that makes guitars just for women. Daisy Rock Guitars are stylish and come in feminine colors, and incorporate design features that accommodate a woman's smaller hand and build. The best way to describe how Cirovolo's business idea was recognized is:
Question options:
|
|
|
|
|
|
|
|
|
|
finding a gap in the marketplace.
|
|
|
|
|
|
|
|
|
A(n) ________ is a favorable set of circumstances that creates the need for a new product, service, or business. A(n) ________ is a thought, an impression, or a notion.
Question options:
Which of the following is NOT an example of a social force?
Question options:
|
|
|
|
Changes in interest rates
|
|
|
|
|
|
Increasing participation in social networks
|
|
|
|
|
|
Increasing diversity of the workplace
|
|
|
|
|
|
|
|
|
An opportunity has which four essential qualities?
Question options:
|
|
|
|
attractive; timely; durable; and anchored in a product, service, or business that creates or adds value for its buyer or end user
|
|
|
|
|
|
practical; opportune; appropriate; and anchored in a product, service, or business that is efficient and effective
|
|
|
|
|
|
realistic; striking; timely; and anchored in a product, service, or business that is timely
|
|
|
|
|
|
attention-getting; attractive; timely; and anchored in a product, service, or business that creates or adds value for its buyer or end user
|
|
|
|
|
|
Montana Sky Trails leads multiday outdoor adventure trips for private groups and corporate clients to various locations across Montana. The company was started by Justin Smith, an individual that gave up a prestigious job in banking because Montana Sky Trails better accommodates his personal lifestyle. Montana Sky Trails is an example of a(n) ________ firm.
Question options:
A(n) ________ is a favorable set of circumstances that creates a need for a new product, service, or business.
Question options:
A common way that gaps in the marketplace are recognized is:
Question options:
|
|
|
|
by observing changing environmental trends.
|
|
|
|
|
|
by recognizing problems that need to be solved.
|
|
|
|
|
|
via studying industry reports.
|
|
|
|
|
|
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.
|
|
|
|
|
|
Colorado Sandwich, Soup and Salad is a casual dining restaurant that has been owned by Stephanie Peterson for the past 14 years. The restaurant offers a menu that is typical for casual dining restaurants and affords Stephanie a level of income that is similar to what she would earn in a conventional job. According to the textbook, Colorado Sandwich, Soup and Salad is an example of a(n) ________ firm.
Question options:
The three primary reasons that people become entrepreneurs and start their own firms are to:
Question options:
|
|
|
|
gain prestige, realize financial rewards, and eliminate risk in their lives.
|
|
|
|
|
|
do what they were "born" to do, be their own boss, and gain prestige.
|
|
|
|
|
|
take big risks, be their own boss, and do what they were "born" to do.
|
|
|
|
|
|
be their own boss, pursue their own ideas, and realize financial rewards.
|
|
|
|
|
|
Which of the following statements regarding survival rates of entrepreneurial firms in the United States is correct?
Question options:
|
|
|
|
As high as 50 percent after four years
|
|
|
|
|
|
As high as 60 percent after four years
|
|
|
|
|
|
As high as 70 percent after four years
|
|
|
|
|
|
As high as 80 percent after four years
|
|
|
|
|
|
Stacey Wills, who is at heart a craftsperson, recently started a firm to manufacture a new innovative food blender. Stacey's desire is to sell her food blender to as many people as possible because she firmly believes in the merits of her product. Stacey's story best illustrates which of the following characteristics, or attributes, of a successful entrepreneur?
Question options:
|
|
|
|
|
|
|
|
|
|
|
|
|
A desire to please consumers
|
|
|
|
|
|
Apple is an established firm that encourages and emphasizes entrepreneurial behavior throughout its various divisions. According to the textbook, Apple practices ________ entrepreneurship.
Question options:
According to the Global Entrepreneurship Monitor (GEM) 2013 study, the majority of people in high-income countries are drawn to entrepreneurship:
Question options:
|
|
|
|
to take advantage of an attractive opportunity.
|
|
|
|
|
|
due to lack of career prospects.
|
|
|
|
|
|
as a result of government incentives.
|
|
|
|
|
|
because an important role model was an entrepreneur.
|
|
|
|
|
|
________ is the process of creating something new, which is central to the entrepreneurial process.
Question options:
Google is a firm that is proactive, innovative and risk-taking. From this description, we can most accurately conclude that Google has a high level of:
Question options:
|
|
|
|
|
|
|
|
|
|
entrepreneurial intensity.
|
|
|
|
|
|
|
|
|
According to the Global Entrepreneurship Monitor (GEM) 2013 survey, about ________ percent of adults in the United States are either starting a business or are running a business that has been in existence for less than 3 1/2 years.
Question options:
Economic forces impact the opportunities available to entrepreneurs. Which of the following alternatives reflects a set of economic forces that would be of interest to entrepreneurs?
Question options:
|
|
|
|
Level of disposable income, new uses of old technologies, and new laws and regulations
|
|
|
|
|
|
New technologies, consumer spending patterns, and new laws
|
|
|
|
|
|
Interest rates, consumer spending patterns, and level of disposable income
|
|
|
|
|
|
Social and cultural trends, level of interest rates, and what people think is "in"
|
|
|
|
|
|
An event that prompts an individual to become an entrepreneur, such as losing a job, inheriting money, or accommodating a certain lifestyle, is referred to as a(n):
Question options:
Brad Johnson is starting an upscale men's clothing store in a mall near Seattle. He wants to open his store during the time period in which a business like his can realistically enter the new market. Brad is trying to open his business while the ________ is open.
Question options:
Which of the following is an accurate characterization of interest in entrepreneurship?
Question options:
|
|
|
|
There is minimal interest in entrepreneurship across the world.
|
|
|
|
|
|
There is minimal interest in entrepreneurship in North America and Europe, but significant interest in Asia and Australia.
|
|
|
|
|
|
There is significant interest in entrepreneurship in North America and Europe, but minimal interest in Asia and Australia.
|
|
|
|
|
|
There is tremendous interest in entrepreneurship across the world.
|
|
Comments
Post a Comment