Which of The Following Is Not A Characteristic of Entrepreneurs

3/11/2020 GE 408: Leadership and Entrepreneurship
Which of the following is not a characteristic of entrepreneurs: *
Self-starters
Perseverant
Lethargic
Optimists
Question-2
An entrepreneur is driven mainly by: *
Planning systems
The control of resources
The perception of opportunity
Changing technology
Question-3
The type of entrepreneur that have the desire and the ability to grow as fast and
as large as possible is: *
Aspiring entrepreneurs
Technology entrepreneurs
Lifestyle entrepreneurs
Growth entrepreneurs
Question-4
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Individuals with innovative solutions to society’s most social problems are

classified as: *
Lifestyle entrepreneurs
Growth entrepreneurs
Aspiring entrepreneurs
Social entrepreneurs
Question-5
A spider-web provides an analogy to a small company because: *
It is fragile.
It has both radial and circumferential axes.
It is continually under attack from outside.
It has multiple points for support on the outside.
Question-6
Which of the following is not a stage of the entrepreneurial process? *
Developing the plan and setting up the company
Buying an existing company
Scaling and harvesting the venture
Conducting opportunity analysis
Question-7
The stages of entrepreneurship includes all of the following except: *
Conduct an opportunity analysis
Develop the plan and set up the company
Select an attorney
Scale and harvest the venture
Question-8
All of the following are reasons people become entrepreneurs except: *
working with others
make your own decisions
flexibility
financial rewards
Question-9
A product life cycle is continually: *
increasing
declining
increasing in a step ladder pattern
fluctuating
Question-10
Incremental innovation means that: *
A start-up company grows slowly.
Improvements are made on existing products and services.
Innovation is only applied to the way that things are made.
It is the safest strategy for a start-up to follow.
Question-11
Radical or disruptive innovation means that: *
It changes the rules of competition.
It applies only to products.
Nothing from the past is retained.
It is too risky for a start-up to follow.
Question-12
All of the following are ways to build upon already existing material and still
provide a profit-driven concept except: *
Market the product at a higher price.
Add value to an existing product or service.
Develop or redesign a new version of an existing product.
Develop ideas as an extension or redesign an existing service.
Question-13
______ is(are) the backbone of the business. *
Business plan
Employees
Data Base
Phases of Success
Question-14
Which of the following criteria is least important when evaluating an

opportunity? *
Competitors
Having the resources in place to execute on the plan
Size of the market
Value provided to the targeted customers
Question-15
_______________costs are the value of benefits lost when one decision or idea
alternative is selected over another. *
Development
Research
Opportunity
Marginal
Question-16
__________ are those non-customer relationships necessary to execute the

business model. *
Key resources
Key activities
Revenue streams
Key partnerships
Question-17
A _______________________ is the way a company applies knowledge to capture

value. *
channel
revenue stream
business model
value proposition
Question-18
It is recommended that the Business Model Canvas be used in _________

sessions. *
Small
Individual
Team
Large
Question-19
Data lock-ins inhibiting a move to a competitor can be found in which of the

following? *
E-mail services
Banking
Health care services
All of these
Question-20
Which of the following is the term used to describe the fee that may be paid to
initiate the contract? *
Advances
Running royalties
Up-front
Minimums
Question-21
_________may prevent a license from just sitting on the rights and not trying to
generate sales. *
Up-front fees
Marketing
Minimums
Running royalties
Question-22
Which of the following is the term for a legal and commercial relationship
between the owner of a trademark, service mark, trade name, or advertising
symbol and an individual or group wishing to use that identification in a
business? *
Exclusive license
License agreement
Franchise
Running royalty
Question-23
___________________ is the ability to capture data on customer requirements and

using it to create unique services or products can be a powerful way of adding
value and keeping out competitors. *
Mining the long-tail
First-movers advantage
Collaborative filtering
Performance
Question-24
A ________________________ is an approach to test a product's alignment with

customer needs and expectations and collect the maximum amount of validated
learning about customers with the least effort. *
Revenue streams
Business Model Canvas
Minimum Viable Product
Customer segmentation
Question-25
______________________________ are reasons the customer segment(s) will use

your products or services instead of those from a competitor. *
Communication
Value propositions
Channels
Key partnerships
Question-26
Social networks are: *
On-line communities sharing common interests
Club members
Not-for-profit organizations
Missionaries
Question-27
We live in a global economy where changes occur ____________. *
rapidly
only with governmental intervention only
slowly
primarily within borders of economy
Question-28
A large corporation can license rights to a small company’s _____________. *
running royalties
intellectual property
networks
business profits
Question-29
Which of the following is not one of the three steps process to build a MVP? *
Develop a social network
Define the essential customer experience that the product needs to create
Determine what measurements or metrics will be needed to validate the learning in

this first MVP version
Decide on the best approach to illustrate the product’s ability to solve the customer’s
problem
Question-30
Which type of marketing is a small segment of a large market ignored by other

companies? *
Niche marketing
Just-in-time marketing
Value marketing
Mass marketing
Question-31
Demographic segmentation divides a market by all of the following except: *
age
gender
income
geography
Question-32
All of the following are ways that a market can be segmented except: *
Business demographics
Geographic segmentation
Viral segmentation
Psychographic segmentation
Question-33
__________ segmentation is very important for retail businesses, restaurants, and

services addressing their local surroundings only. *
Business demographics
Geographic segmentation
Ethnic segmentation
Viral segmentation
Question-34
Which type of segmentation is somewhat uncomfortable for people living in a

county with a history of ethnic-based discrimination? *
Psychographic segmentation
Combination segmentation
Ethnic segmentation
Demographic segmentation
Question-35
In combination segmentation, which two types of segmentation are combined? *
Demographic and Geographic segmentation
Geographic and Viral segmentation
Ethnic and Psychographic segmentation
Demographic and Psychographic segmentation
Question-36
Market segmentation by demographics includes: *
Defining targeted customers by location
Defining targeted customers by business level
Defining targeted customers by value groups
Defining targeted customers by income level
Question-37
Market segmentation by geography includes: *
Defining targeted customers by where they went to school
Defining targeted customers by the value group they belong to
Defining targeted customers by where they were born
Defining targeted customers by where they live
Question-38
_______ is the process of establishing and maintaining a distinctive place in the

market for the start-up and/or its product offerings. *
Combination segmentation
Viral marketing
Mass marketing
Positioning
Question-39
The best advocate for a company’s products or services is the: *
New customer
Existing customer
Sales Representative
Entrepreneur
Question-40
_______________is the part of a product range that consists of a multitude of

different products, each of which has a small demand, but taken as a whole may
have a significant market value. *
Long tail
Market penetration
Ad campaign
Short tail
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Forms
A manager’s critical concern is effectiveness; a leader focuses on efficiency. *
True
False
What network model enables engineer managers to schedule, monitor, and

control large and complex projects by employing three time estimates for each
activity? *
Forecasting
Simulation
PERT
CPM
Mark the wrong statement: *
All activities on a critical path are critical activities
A delay in critical activity surely delays the completion of project
Each critical activity has identical earliest and the latest start times
A project network may have none, one, or more critical paths
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According to the Blake and Mouton Managerial Grid Leadership Self-Assessment

Questionnaire, a score of (7, 7) falls in the following quadrant: *
Country club style
Team leader style
Authoritarian style
Impoverished style
Pay bonuses, promotions, time off, special assignments, office fixtures, awards,
verbal praise, and so on are examples of: *
Intrinsic rewards
Extrinsic rewards
Valence
Intrapreneurship
The income statement shows: *
the cash flow of the business
the financial performance of the business
the financial performance and the financial position of the business
the financial position of the business
Which of the following is an example of an intrinsic motivator? *
Satisfaction in a job well done
A pay increase
Good working conditions
Promotion
The three major sections of the Balance Sheet are the: *
assets, liabilities, and equity
cash, fixed assets, and interest payments
cash flow, fixed assets and other assets, and debt structure
revenues, expenses, and current assets
The balance sheet equation is: *
Assets= Liabilities + Shareholder equity
WIP= Assets + Liabilities
Assets + Liabilities= Shareholder equity
Liabilities-Assets= WIP
… is a good approach when outside experts, such as staff specialists or

consultants used. *
Laissez-fair style
Democratic style
Bureaucratic style
Autocratic style
The Income Statement: *
Shows the company’s long-term asset position
Allows a manager to monitor deterioration in shareholder equity
Allows a manager to see how profitable the company is on a monthly and annual
basis
Represents Assets=liabilities + shareholder equity
The laissez-faire manager depends on a structured set of rewards and

punishments. *
True
False
… is a good approach to encourage team building and participation. *
Bureaucratic style
Autocratic style
Democratic style
Laissez-fair style
Which of the following steps is important to improving expectancy? *
Observe and recognize performance
Ask employees what rewards they value
Create the belief that effort is related to performance
Deliver rewards as promised
The autocratic manager retains as much power, decision-making and authority

as possible. *
False
True
What are the two dimensions on Blake and Mouton's managerial grid? *
'Concern for outcomes' and 'concern for feelings'
'Finishing tasks' and 'liking people'
'Good' and 'bad'
'Concern for people' and 'concern for tasks'
Which of the following is the assumption of Theory X? *
People will avoid responsibilities and seek formal direction whenever possible
People will exercise self-direction if they are committed to the objectives
People view work as natural as rest or play
People can use their imagination and creativity in solving organizational problems
Trading intellectual property rights is a type of: *
Angel investing
Moonlighting
Part-time working
Bootstrapping
A company that has no offices, very few employees, and no communication

costs is called: *
corporate company
self-funding company
parent company
virtual company
When work needs to be coordinated with another department or organization,

the best leadership style to implement is: *
Participative style
Autocratic style
Laissez-fair style
Democratic style
In analyzing the precedence diagram, the movement from left to right is called: *
Backward pass
Forward pass
Slack time analysis
Critical Path Method
A project has three paths: A—B—C has a length of 25 days. A—D—C has a length
of 15 days. A—E—C has a length of 20 days. Which of the following statements is
correct? *
A—B—C has the most slack
The expected duration of this project is 60 days
A—D—C is the critical path
The expected duration of the project is 25 days
“A satisfied need no longer motivates behavior because people act to satisfy

deprived needs”. This principle is called: *
Valence
Frustration principle
Deficit principle
Progression principle
… refers to horizontal job loading. *
Job rotation
Job enlargement
Job re-design
Job enrichment
Given the following activity’s optimistic, most likely, and pessimistic time
estimates of 6, 10, 14 days, respectively, compute the PERT time for this activity. *
12 days
7 days
5 days
10 days
The theory that an employee will compare his or her job inputs and outcomes
relative to others is called: *
Performance Theory
Employee Theory
Equity Theory
Inputs-Outputs Theory
… provide a description and analysis of how behavior is energized, directed,

sustained and stopped. *
Content Theories
Leadership Theories
Motivation Theories
Process Theories
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Typically, debt financing requires: *
Reduction of working capital
Giving up a degree of ownership in the firm
An asset as collateral
Reduction of short-term assets
Hands-off leadership style is a synonym for: *
Autocratic style
Bureaucratic style
Laissez-fair style
Democratic style
The breakeven point is the level of activity (units) at which: *
Total revenue equal total costs
Fixed costs equal contribution
Revenues equal contribution
Variable costs equal fixed costs
… focus on the factors within a person that energize, direct, sustain and stop
behavior. They look at the specific needs that motivate people. *
Content Theories
Leadership Theories
Motivation Theories
HR Theories
What network model enables engineer managers to schedule, monitor, and

control large and complex projects by employing deterministic time estimate for
each activity? *
PERT
Simulation
Forecasting
CPM
What three words define motivation? *
Persistence, fairness, ambition
Desire, persistence, fairness
Fairness, equity, desire
Intensity, direction, persistence
What is valence? *
The value of an object to a person
The importance of doing something well
The value or importance an individual places on a reward
The knowledge and effort put into something
The “Runway” refers to: *
The time in which it takes to calculate the COH
How often the company turns over inventory
How many months it would take for the company to run out of money
How long the company has been in business
The Balance Sheet: *
is based on historical costs and may not reflect economic value, worth, and resale
value
reflects what the business is worth and its resale value
is a reflection of economic value
takes inflation into account
Exam Questions (Part-B)
For the following four questions:
An engineering project is expected to be completed in 21 months.
Assuming that the project completion time has the variance of 4; and it follows a normal probability
distribution.
The following values can help in obtaining the proper Z-Score:

Z-score (-2) = 0.0228
Z-score (-1) = 0.1587
Z-score (-0.5) = 0.3085
Z-score (0.5) = 0.6915
Z-score (1) = 0.8413
Z-score (2) = 0.9772
What is the probability that the project will be completed in 25 months or less? *
2.28%
30.85%
84.13%
97.72%
2.28%
30.85%
84.13%
97.72%
2.28%
30.85%
84.13%
97.72%
2.28%
30.85%
84.13%
97.72%
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3/11/2020 GE 408: Leadership and Entrepreneurship

Which of the following is not a characteristic of entrepreneurs: *

An entrepreneur is driven mainly by: *

The control of resources

The perception of opportunity

Individuals with innovative solutions to society’s most social problems are

A spider-web provides an analogy to a small company because: *

It has both radial and circumferential axes.

It is continually under attack from outside.

It has multiple points for support on the outside.

Which of the following is not a stage of the entrepreneurial process? *

Developing the plan and setting up the company

Buying an existing company

Scaling and harvesting the venture

Conducting opportunity analysis

The stages of entrepreneurship includes all of the following except: *

Conduct an opportunity analysis

Develop the plan and set up the company

Scale and harvest the venture

All of the following are reasons people become entrepreneurs except: *

working with others

make your own decisions

A product life cycle is continually: *

increasing in a step ladder pattern

Incremental innovation means that: *

A start-up company grows slowly.

Improvements are made on existing products and services.

Innovation is only applied to the way that things are made.

It is the safest strategy for a start-up to follow.

Radical or disruptive innovation means that: *

It changes the rules of competition.

It applies only to products.

Nothing from the past is retained.

It is too risky for a start-up to follow.

Market the product at a higher price.

Add value to an existing product or service.

Develop or redesign a new version of an existing product.

Develop ideas as an extension or redesign an existing service.

______ is(are) the backbone of the business. *

Which of the following criteria is least important when evaluating an

Having the resources in place to execute on the plan

Size of the market

Value provided to the targeted customers

__________ are those non-customer relationships necessary to execute the

A _______________________ is the way a company applies knowledge to capture

It is recommended that the Business Model Canvas be used in _________

Data lock-ins inhibiting a move to a competitor can be found in which of the

Health care services

___________________ is the ability to capture data on customer requirements and

Mining the long-tail

A ________________________ is an approach to test a product's alignment with

Business Model Canvas

Minimum Viable Product

______________________________ are reasons the customer segment(s) will use

Social networks are: *

On-line communities sharing common interests

We live in a global economy where changes occur ____________. *

only with governmental intervention only

primarily within borders of economy