Entrepreneurial Manager MCQs

Entrepreneurial Manager MCQs

Answer these 20+ Entrepreneurial Manager MCQs and assess your grip on the subject of Entrepreneurial Manager. Scroll below and get started!

1: Corporate entrepreneurship is the process of creating new _____ or renewal within large corporations.

A.   Products

B.   Ventures

C.   Processes

D.   All of these

2: Innovations that create new markets through the discovery of new categories of customers.

A.   Disruptive innovation

B.   Exploitative innovation

C.   Exploratory innovation

D.   Process innovation

3: Entrepreneurial skills are the _____ that enable individuals to manage successfully in high-risk business environments.

A.   Capacities

B.   Activities

C.   Strengths

D.   All of these

4: Entrepreneurs are the individuals who _____ high-risk business opportunities.

A.   Plan

B.   Organize

C.   Lead

D.   All of these

5: Entrepreneurs inside are the people who think and act entrepreneurially within different types of organizations.

A.   True

B.   False

6: A business _____ by multiple family members typically for more than one generation.

A.   Supervised

B.   Owned

C.   Managed

D.   All of these

7: Grit is the quality that enables people to work hard and sustain interest in their _____ goals.

A.   Short-term

B.   Mid-term

C.   Long-term

D.   All of these

8: Pivots are the Small failures that allow entrepreneurs to react quickly and change direction where necessary.

A.   True

B.   False

9: People who start several businesses, whether non simultaneously or one after another are known as Serial entrepreneurs.

A.   True

B.   False

10: _____ are the people who start several businesses, whether simultaneously or one after another.

A.   Serial entrepreneurs

B.   Social entrepreneurs

C.   Both a and b

D.   None of these

11: _____ is the process of sourcing innovative solutions to social and environmental problems.

A.   Social entrepreneurship

B.   Corporate entrepreneurship

C.   Both a and b

D.   None of these

12: Value creation is the activities and processes that decrease the worth of a product or service.

A.   True

B.   False

13: Pro forma financials are a key part of the ____.

A.   Feasibility analysis

B.   Business launch

C.   Cash flow

D.   Startup capital

E.   Business plan.

14: A(n) ________ industry is an industry that is experiencing significant international sales.

A.   Global

B.   Mature

C.   Fragmented

D.   Declining

E.   Emerging

15: Entrepreneurs tend to be ________.

A.   Risk averse

B.   Negative

C.   Optimistic

D.   Dispassionate

16: Entrepreneurs typically have a knack for looking at the ______ and seeing the ______.

A.   Usual/unusual

B.   Unusual/usual

C.   Normal/extreme

D.   Extreme/normal

17: Entrepreneurs typically possess ________.

A.   The ability to easily access capital

B.   A set of unique skills that is usually accompanied by advanced degrees in several areas

C.   A high level of commitment, have a tolerance for ambiguity, are flexible and tenacious

D.   Specialized technical abilities

18: According to the textbook, the number one reason that people become entrepreneurs is to ________.

A.   Realize financial rewards

B.   Gain prestige

C.   Be their own boss

D.   Continue a family tradition

E.   Pursue their own ideas

19: According to the textbook, the unique value provided by business angels is they ________.

A.   They are willing to make relatively large investments

B.   They are willing to make relatively small investments

C.   They require a fairly low rate of return on their money

D.   They invest money but typically don't take a seat on a company's board of directors

E.   They are easy to find

20: Entrepreneurs use a(n) ________ to track assets and liabilities.

A.   Cash flow statement

B.   Income statement

C.   Profit and loss

D.   Balance sheet

21: The advantages of being an entrepreneur are _____

A.   Flexibility

B.   Independence

C.   Salary potential

D.   All of the above

22: The amount of risk or threat of loss that an entrepreneur is willing to sustain is ________.

A.   Risk tolerance

B.   Risk aversion

C.   Risk acceptance

D.   Risk reception

E.   Risk recognition

23: The most important thing to do during a sales call is ________.

A.   Push for the sale early and don't mention price until the end

B.   Ask questions to keep the customer engaged in the sales call

C.   Listen, in order to learn what the customer needs

D.   Keep talking so the customer doesn't lose interes

24: A business opportunity is an idea, plus ________.

A.   It is attractive to suppliers

B.   It may have marginal performance in your business environment

C.   It has a limitless window of time to work within

D.   It is attractive to customers and will work in your business environment

25: If a new venture organizes as a corporation, it is legally required to have _________.

A.   A board of directors.

B.   Design

C.   Conceptualization

D.   Production

26: Whenever there is competitive rivalry, prices tend to be ____.

A.   The same

B.   Slightly higher

C.   Lower

D.   50 percent higher

E.   None of these choices

27: A partnership agreement defines how the partners will be compensated. normally, ________.

A.   Partners are not entitled to salaries or wages, but are compensated by a share of the profits of the business

B.   The general partner's salary is set at two times the salaries of the limited partners

C.   Both general and limited partners are permitted salaries, but all silent or dormant partners are compensated only by sharing in the profits

D.   While the agreement establishes payout schedules, it does not spell out what constitutes profit

28: Corporate ______ are rules and regulations that govern the corporation's internal management.

A.   Bylaws

B.   Requirements

C.   Statutes

D.   Authorizations

E.   Prohibitions

29: In a unilateral contract, the consideration for a promise is ______.

A.   Action

B.   A return promise

C.   An acknowledgement

D.   Consideration

E.   An agreement