Quiz week 1 /BUS 362 Introduction to Entrepreneurship

1. ___________ spell(s) out the "ends" an organization is to achieve; ____________ define(s) the "means" for achieving the ends. (Points : 1)

       Mission, goals, and objectives; strategy

       Key success factors; strategy

       Strategy; mission, goals, and objectives

       Strategy; vision

Question 2.2. A clearly defined vision helps a company in which of the following ways? (Points : 1)

       Provides direction

       Determines decisions

       Motivates people

       All of the above

Question 3.3. The aggregation of factors that sets a company apart from its competitors and gives it a unique position in the market superior to its competition is its: (Points : 1)

       mission statement.

       competitive advantage.

       competitive profile.

       strategic plan.

Question 4.4. Steps in the patent process include: (Points : 1)

       establishing whether it is a novelty.

       documenting and verifying the date the idea was first conceived.

       searching existing patents.

       all of the above.

Question 5.5. Any distinctive word, phrase, symbol, name, or logo a firm uses to distinguish itself or its products is called a: (Points : 1)

       trademark.

       patent.

       copyright.

       service mark.

Question 6.6. Which of the following is not one of the ways entrepreneurs can stimulate their own creativity and encourage it among their workers? (Points : 1)

       Provide creativity training

       Encourage curiosity

       View challenges as problems

       Develop a corporate culture that both fosters and rewards creativity

Question 7.7. The ability to develop new ideas and to discover new ways of looking at problems and opportunities is called: (Points : 1)

       entrepreneurship.

       innovation.

       creativity.

       creative thinking.

Question 8.8. ______________ are the broad, long-range attributes the small business seeks to accomplish; _____________ are the more specific targets for performance. (Points : 1)

       Goals; objectives

       Goals; strategies

       Objectives; goals

       Strategies; goals

Question 9.9. An entrepreneurial “secret” for creating value in the marketplace is: (Points : 1)

       applying creativity and innovation to solve problems.

       creating new products and services.

       learning by doing.

       applying lessons learned from history.

Question 10.10. Entrepreneurs can stimulate their own creativity and encourage it among workers by: (Points : 1)

       expecting and tolerating failure.

       avoiding problems.

       limiting rewards.

       not taking chances.

12 years ago

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