Social Entrepreneurship Exam Practice Tests
Course Introduction
Social Entrepreneurship explores the concepts, strategies, and challenges involved in creating and leading ventures that address social, environmental, and cultural issues using innovative and sustainable business models. Students will examine the role of entrepreneurs as change agents within society, the tools for measuring social impact, and approaches to mobilizing resources for social good. The course emphasizes real-world case studies and practical exercises to develop skills in problem-solving, opportunity identification, and socially responsible leadership, empowering students to design and implement effective solutions for pressing social problems.
Recommended Textbook
Entrepreneurship Theory Process and Practice 10th Editionby Donald F. Kuratko
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15 Chapters
444 Verified Questions
444 Flashcards
Source URL: https://quizplus.com/study-set/1416
Page 2
Chapter 1: Entrepreneurship: Evolutionary
Development-Revolutionary Impact
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28 Verified Questions
28 Flashcards
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Sample Questions
Q1) Michael Gerber,the author of The E-Myth,explains that the failure of most small businesses is due to:
A)owners being more technical rather than entrepreneurial
B)owners being more managerial rather than technical
C)owners being more entrepreneurial rather than managerial
D)owners being more entrepreneurial rather than technical
Answer: A
Q2) The macro view can be broken down into which three areas?
A)environmental, financial, and displacement
B)financial/capital, strategic, and opportunity
C)displacement, trait, and financial
D)entrepreneurial trait, opportunity, and strategic
Answer: A
Q3) Mountain gap strategies refer to:
A)unique resources
B)unique locations
C)unique resources.
D)unique markets
Answer: D
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Chapter 2: The Entrepreneurial Mind-Set in Individuals:
Cognition and Ethics
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30 Verified Questions
30 Flashcards
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Sample Questions
Q1) A loss orientation toward grief recovery in dealing with failure can sometimes lessen negative emotional reactions.
A)True
B)False
Answer: False
Q2) Which of the following may be the greatest risk to the well-being of the entrepreneur?
A)social risk
B)financial risk
C)psychic risk
D)family risk
Answer: C
Q3) Areas of risk to the entrepreneur include
A)career, family, psychic.
B)family, business, social.
C)psychic, social, physical.
D)financial, product, market
Answer: A
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Chapter 3: The Entrepreneurial Mind-Set in Organizations: Corporate Entrepreneurship
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28 Verified Questions
28 Flashcards
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Sample Questions
Q1) The resources of the organization are irrelevant to the ability of the corporate entrepreneur to implement an idea.
A)True
B)False
Answer: False
Q2) Researchers have identified specific factors that organizations can concentrate on in helping individuals develop more entrepreneurial behavior.
A)True
B)False
Answer: True
Q3) Collective entrepreneurship,as a concept,refers to
A)the collective spirit of innovation that resides in the firm's founder
B)the joint recognition of the CEO and CFO as champions of innovation
C)entrepreneurial thinking that is diffused throughout the company
D)socialist enterprising
Answer: C
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Chapter 4: Social Entrepreneurship and the Global
Environment for Entrepreneurship
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30 Verified Questions
30 Flashcards
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Sample Questions
Q1) One researcher established a framework that classified social actions of corporations into distinct categories that included
A)social obligation.
B)social responsiveness.
C)social action.
D)a and b only.
Q2) The triple bottom line is an accounting framework that focuses on optimizing short-term financial performance.
A)True
B)False
Q3) The three Ps of the triple bottom line are people,planet,and profits.
A)True
B)False
Q4) Which of the following designations is not synonymous with social entrepreneur?
A)social innovator
B)public entrepreneur
C)civic entrepreneur
D)social impersonator
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Q5) Why has sustainable development,perhaps,become the most prominent topic of our time?
Chapter 5: Innovation: the Creative Pursuit of Ideas
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30 Verified Questions
30 Flashcards
Source URL: https://quizplus.com/quiz/28110
Sample Questions
Q1) The phase of the creative process when the idea or solution the individual is seeking is discovered is the
A)background or knowledge accumulation.
B)incubation process.
C)idea experience.
D)evaluation and implementation.
Q2) One of the most helpful avenues for developing one's own creative talents is to be aware of the habits and mental blocks that stifle creativity.
A)True
B)False
Q3) Which of the following is not one of the phases in the creative process?
A)background or knowledge accumulation
B)evaluation and implementation
C)the incubation process
D)preliminary investigation
Q4) The left hemisphere of the brain is responsible for logical and analytical skills.
A)True
B)False
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Chapter 6: Assessment of Entrepreneurial Opportunities
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30 Verified Questions
30 Flashcards
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Sample Questions
Q1) What sorts of legal issues can be overlooked when assessing an entrepreneurial opportunity?
Q2) Feasibility analyses include technical,market,financial,organizational,and competitive analyses.
A)True
B)False
Q3) Market feasibility analysis relies on
A)organizational competence
B)the entrepreneur's vision
C)venture capital
D)general economic trends and competitor data
Q4) Solid analysis and evaluation of the feasibility of the product/service idea are critical tasks in starting a new business.
A)True
B)False
Q5) Explain three major reasons why new ventures fail.
Q6) What are three critical factors in a new venture assessment?
Q7) What are the five specific feasibility phases that a new venture will go through?
Q8) List and describe three pitfalls in selecting a new venture.
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Chapter 7: Pathways to Entrepreneurial Ventures
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28 Verified Questions
28 Flashcards
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Sample Questions
Q1) The inventory should be examined for which of the following?
A)salability
B)correspondence between the physical count and the book count
C)up-to-datedness
D)All of the above.
Q2) An agreement not to compete is also known as
A)a trade restriction clause.
B)a legal restraint of trade.
C)a waiver of competition clause.
D)a deferential sale of business clause.
Q3) What is the role of business brokers in acquiring an established entrepreneurial venture?
Q4) When one designs a unique good or service,the individual is said to have used a(n) ____approach to starting the business.
A)new-new
B)old-old
C)old-new
D)new-old
Q5) Why did the Federal Trade Commission enact the Franchise Rule?
Q6) Briefly explain the new-old approach to creating new ventures.
Page 9
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Chapter 8: Sources of Capital for Entrepreneurs
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30 Verified Questions
30 Flashcards
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Sample Questions
Q1) The entrepreneur should ask the venture capitalist _____ questions.
A)at most ten
B)exactly twenty
C)an unlimited number of
D)no
Q2) Which of the following does not represent a category of angel investors?
A)micromanagement angels
B)entrepreneurial angels
C)amateur angels
D)corporate angels
Q3) How does a public offering differ from a private placement?
Q4) Major trends in the venture capital field today include all of the following except
A)less specialized and more homogenous funds
B)emerging feeder funds
C)decrease in start-up investment amounts
D)global reach
Q5) Informal risk capitalists are often referred to as "business angels."
A)True
B)False
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Chapter 9: Legal Challenges of Entrepreneurial Ventures
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30 Verified Questions
30 Flashcards
Source URL: https://quizplus.com/quiz/28114
Sample Questions
Q1) To effectively pursue a patent violation,experts recommend that the entrepreneur
A)handle all matters personally.
B)prepare a realistic budget for infringement.
C)fill out a preprinted form obtained from a patent office.
D)sue as quickly as possible.
Q2) Works created and copyrighted after January 1,1978,are protected for the life of the author plus 70 years.
A)True
B)False
Q3) It often is possible to obtain more capital and a better range of skills in a sole proprietorship than in a partnership.
A)True
B)False
Q4) All of the following are ways of invalidating a trademark except
A)cleaning-out proceedings.
B)clearing-out proceedings.
C)abandonment.
D)generic meaning.
Q5) What are the rules for avoiding pitfalls in selecting trademarks?
Q6) Identify the three major sections of the Bankruptcy Act.
Page 11
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Chapter 10: Marketing Challenges for Entrepreneurial Ventures
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30 Verified Questions
30 Flashcards
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Sample Questions
Q1) What is skimming and what are its effects?
Q2) Pricing the social media age is sometimes based on a model that offers basic levels of service for free.
A)True
B)False
Q3) What is guerrilla marketing?
Q4) In the marketing shift from the 4Ps to the 4Cs,price shifts to choice and promotion shifts to communities.
A)True
B)False
Q5) It is usually more expensive to gather secondary data than primary data.
A)True
B)False
Q6) Skimming is setting prices at such a low level that products are sold at a loss.
A)True
B)False
Q7) Marketing information that has already been compiled is known as secondary data.
A)True
B)False
Q8) Identify and describe two pricing models pertinent to the social media age? Page 12
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Chapter 11: Financial Preparation for Entrepreneurial Ventures
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30 Verified Questions
30 Flashcards
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Sample Questions
Q1) The principal objective of capital budgeting is to maximize the value of the firm. A)True
B)False
Q2) When using the internal rate of return method,the future cash flows are discounted at a rate that makes the net present value equal to A)assets minus liabilities.
B)assets minus owner's equity.
C)assets minus (liabilities plus owner's equity). D)zero.
Q3) Pro forma statements show the firm's present financial position.
A)True
B)False
Q4) The principle objective of capital budgeting is to
A)minimize the risks of the firm.
B)maximize the value of the firm.
C)maximize the assets of the firm.
D)optimize the number of project requests.
Q5) What is included in an operating budget and how is this helpful?
Q6) Explain pro forma statements.
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Chapter 12: Developing an Effective Business Plan
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30 Verified Questions
30 Flashcards
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Sample Questions
Q1) The entrepreneur should expect to encounter a friendly and supportive audience when presenting the business plan to potential financial sources.
A)True
B)False
Q2) An entrepreneur is much better off preparing his or her own business plan rather than hiring someone else,even if more experienced,to prepare it.
A)True B)False
Q3) There are only two viewpoints from which a business plan should be written,the entrepreneur's and the financial source.
A)True
B)False
Q4) A business plan must illustrate the current status of the venture but not the projected results.
A)True
B)False
Q5) What is the basic structure of a business plan?
Q6) How does a business plan benefit the entrepreneur?
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Chapter 13: Strategic Entrepreneurial Growth
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30 Verified Questions
30 Flashcards
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Sample Questions
Q1) Analysis of a firm's external and internal environments provides the firm with the information to develop
A)a degree of uncertainty
B)administrative experience
C)competitive strengths
D)strategic intent and strategic mission
Q2) Unique managerial concerns of growing ventures encompass all of the following except:
A)the one-man-band syndrome
B)community pressures
C)time-management issues
D)agency problems
Q3) Research has shown a distinct lack of planning on the part of new ventures.
A)True
B)False
Q4) A "SWOT" analysis refers to analyzing strengths,weaknesses,opportunities,and threats.
A)True
B)False
Q5) Does strategic planning pay off?
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Chapter 14: Valuation of Entrepreneurial Ventures
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30 Verified Questions
30 Flashcards
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Sample Questions
Q1) The discounted earnings method of valuation establishes
A)potential earning power.
B)an appropriate rate for replacement.
C)expectancy of the business expenses.
D)future profits.
Q2) Adjusted tangible book value is a popular method of valuation.
A)True
B)False
Q3) Emotional bias is not an underlying issue in valuing a business.
A)True
B)False
Q4) Tangible assets as well as intangible assets of a business need to be assessed for proper venture evaluation.
A)True
B)False
Q5) List and briefly explain the three methods utilized for business evaluation.
Q6) One of the most common reasons for acquiring a business is developing more growth-phase products.
A)True
B)False
Page 17
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Chapter 15: Harvesting the Entrepreneurial Venture
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Sample Questions
Q1) Which is an influencing factor in succession?
A)family and business cultural issues
B)government regulation
C)current economic conditions
D)the competition
Q2) Which of the following is not an example of pressures or interests from within a firm that affect succession issues?
A)rivalry among various branches of the family
B)pressure from a family member to start his/her own business
C)employee wanting a percentage of the business in the owner's will
D)pressure on the owner/manager to designate an heir
Q3) The average life expectancy of a privately held firm is
A)24 years.
B)10 years.
C)and indefinite number of years.
D)50 years.
Q4) Once the decision is made to harvest the business,the way forward is easy.
A)True
B)False
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