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MGMT 190 Entrepreneurial Studies Questions & 100% Verified Correct Answers with complete solutions (Latest update

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MGMT 190 Entrepreneurial Studies Questions & 100% Verified Correct Answers with complete solutions (Latest update

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  • August 29, 2024
  • 8
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • mgmt 190 entrepreneurial studies

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MGMT 190 Entrepreneurial Studies
True - ANS-According to the U.S. Small Business Administration's Office of Advocacy, small
firms accounted for all of the net new jobs in 2010.

False - ANS-A 2010 report by The Guardian Life Small Business Research Institute indicated
that women-owned businesses have been steadily decreasing over the past few decades.

False - ANS-According to a study conducted in 2006, the self-employed report the lowest levels
of personal satisfaction, challenge, pride, and remuneration.

A. Restricting entrepreneurship at the regional level

B. Discouraging entrepreneurs from expressing competitiveness

C. Reducing restrictions that block the flow of finance

D. Removing programs based on "learning by doing"
C. - ANS-Which of the following is a critical factor in enhancing entrepreneurship?

A. It is process oriented and not result oriented.

B. It gives importance to one's nationality.

C. It creates economic and social mobility.

D. It reduces competitiveness.
C. - ANS-Which of the following is true of new venture creation?

A. They accumulated their wealth through luck.

B. They are invisible to most Americans.

C. They fit the media stereotype.

D. They prefer social status to financial independence.
B. - ANS-What is true of the majority of America's self-made entrepreneurs?

False - ANS-Entrepreneurs motivated purely by monetary reward typically build companies of
substantial value

, True - ANS-Successful entrepreneurs possess a well developed capacity to exert influence
without formal power.

True - ANS-Entrepreneurs are self-starters who are internally driven by a strong desire to
compete and attain challenging goals.

True - ANS-Entrepreneurship results in the creation, enhancement, realization, and renewal of
value, not just for owners, but for all participants and stakeholders.

True - ANS-One of the biggest strategic mistakes aspiring entrepreneurs make is that they think
too small.

True - ANS-Knowing the difference between a good idea and a real opportunity is vital for
would-be entrepreneurs

True - ANS-In entrepreneurial companies, bootstrapping is a way of life that can create
significant competitive advantages.

False - ANS-One of the leading practices of fast-growth companies to achieve market
penetration is to initially deliver product and service benefits at below-market prices

A. Innovation and creativity

B. Opportunity recognition

C. Team work

D. Marshalling resources
B. - ANS-What is at the heart of the entrepreneurial process?

A. An entrepreneur should stay away from bootstrapping, especially with new ventures.

B. An entrepreneur must understand that having too much money early on in the venture is the
biggest factor that contributes to its success.

C. An entrepreneur must avoid doing more with fewer resources as it is detrimental to a
company's competitive advantage.

D. An entrepreneur must strive to minimize and control resources, but not necessarily own
them.
D. - ANS-According to the Timmons Model, which of the following is true of resources as a key
element in an entrepreneurial process?

A. When there are greater gaps in available information and knowledge

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