Chapter 6

Question 0

58% of the most recent Inc. CEOs did not create a formal written plan, but _________ do help entrepreneurs prepare enough resources and stay focused on key objectives.

Answer 0

Business plans

Question 1

Entrepreneurs must be sure that the idea they choose has interest in the

Answer 1

Market place

Question 2

A_____ is a person who seeks a profitable opportunity and takes the necessary risks to set up and operate a business

Answer 2

Entrepreneur

Question 3

_________ are a key way government supports new ventures

Answer 3

Business incubators

Question 4

What are three categories of entrepreneurs?

Answer 4

Classic entrepreneurs, serial entrepreneurs, social entrepreneurs

Question 5

When a government venture encourages entrepreneurship in specific geographic areas, we call those areas_______ _____.

Answer 5

Enterprise Zone

Question 6

When entrepreneurs begin with an overall idea for how to make their business idea a success we call that _______

Answer 6

Vision

Question 7

What are the factors supporting and expanding opportunities for entrepreneurs?

Answer 7

Globalization,education,information technology,demographic and economic trends

Question 8

Give four major reasons why people become entrepreneurs

Answer 8

Desire to be one’s own boss,desire to succeed financially, desire for job security,desire for an improved quality of life