Entrepreneurship: Successfully Launching New Ventu
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Created By: A Solution
Test Bank for Entrepreneurship: Successfully Launching
New Ventures, 6th Edition by Barringer (All Chapters
included) A+
Bruce R. Barringer
Duane Ireland
Chapter 1 Introduction to Entrepreneurship
1) One of the businesses owned by Kirsten Blowers, the entrepreneur profiled in the
opening feature of Chapter 1, is Riffraff. Riffraff sells .
A) refurbished furniture
B) clothing
C) jewelry
D) books
E) t-shirts Answer: A Diff: 1
LO: 1.1: Describe entrepreneurship, corporate entrepreneurship, and the characteristics of
entrepreneurial firms.
AACSB: Reflective Thinking Quest. Category: Critical Thinking
2) Which of the following is an accurate characterization of interest in entrepreneurship?
A) There is minimal interest in entrepreneurship across the world.
B) There is minimal interest in entrepreneurship in North America and Europe, but
significant interest in Asia and Australia.
C) There is significant interest in entrepreneurship in North America and Europe, but
minimal interest in Asia and Australia.
D) While interest in entrepreneurship was once high, it is waning in popularity across the
world.
E) There is tremendous interest in entrepreneurship across the world. Answer: E
Diff: 1
A+ Page 1
,Created By: A Solution
LO: 1.1: Describe entrepreneurship, corporate entrepreneurship, and the characteristics of
entrepreneurial firms.
AACSB: Application of Knowledge Quest. Category: Application
3) According to the Global Entrepreneurship Monitor (GEM) 2015-2016 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.
A) 3.8
B) 5.5
C) 7.6
D) 9.0
E) 11.9
Answer: E Diff: 3
LO: 1.1: Describe entrepreneurship, corporate entrepreneurship, and the characteristics of
entrepreneurial firms.
AACSB: Application of Knowledge Quest. Category: Application
4) According to the Global Entrepreneurship Monitor (GEM) 2015-2016 study, the majority
of people in high-income countries are drawn to entrepreneurship .
A) to take advantage of an attractive opportunity
B) due to lack of career prospects
C) as a result of government incentives
D) because an important role model was an entrepreneur
E) to gain prestige Answer: A
Diff: 2
LO: 1.1: Describe entrepreneurship, corporate entrepreneurship, and the characteristics of
entrepreneurial firms.
AACSB: Reflective Thinking Quest. Category: Critical Thinking
5) Which of the following statements regarding survival rates of entrepreneurial firms in the
United States is correct?
A+ Page 2
,Created By: A Solution
A) As high as 50 percent after four years
B) As high as 60 percent after four years
C) As high as 70 percent after four years
D) As high as 80 percent after four years
E) As high as 90 percent after four years Answer: A
Diff: 2
LO: 1.1: Describe entrepreneurship, corporate entrepreneurship, and the characteristics of
entrepreneurial firms.
AACSB: Reflective Thinking Quest. Category: Critical Thinking
6) Cody Rodgers is the founder of a company named Extreme Sports Apparel. The company
makes apparel products for extreme sports enthusiasts such as rock climbers, triathletes,
skateboarders, and BMX bikers. Cody wants his company to pursue a high level of corporate
entrepreneurship. To achieve that goal, Cody's firm should be .
A) innovative, risk averse, and take a "wait and see" posture
B) taking a "wait and see" posture, innovative, and risk taking
C) proactive, not innovative, and risk taking
D) taking a "wait and see" posture, not innovative, and risk averse
E) proactive, innovative, and risk taking Answer: E
Diff: 2
LO: 1.1: Describe entrepreneurship, corporate entrepreneurship, and the characteristics of
entrepreneurial firms.
AACSB: Analytical Thinking Quest. Category: Analytical
2
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, Created By: A Solution
7) 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 .
A) enterprise focus
B) innovative intensity
C) entrepreneurial intensity
D) creative intensity
E) innovative concentration Answer: C
Diff: 2
LO: 1.1: Describe entrepreneurship, corporate entrepreneurship, and the characteristics of
entrepreneurial firms.
AACSB: Reflective Thinking Quest. Category: Critical Thinking
8) Apple is an established firm that encourages and emphasizes entrepreneurial behavior
throughout its various divisions. According to the textbook, Apple practices
entrepreneurship.
A) tactical
B) corporate
C) strategic
D) business
E) enterprise Answer: B Diff: 2
LO: 1.1: Describe entrepreneurship, corporate entrepreneurship, and the characteristics of
entrepreneurial firms.
AACSB: Reflective Thinking Quest. Category: Critical Thinking
9) According to the opening feature on Kirsten Blowers, Riffraff's early success was
adversely affected by the actions of Pinterest.
Answer: TRUE Diff: 1
LO: 1.1: Describe entrepreneurship, corporate entrepreneurship, and the characteristics of
entrepreneurial firms.
AACSB: Reflective Thinking Quest. Category: Critical Thinking
A+ Page 4
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