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Multiple Choice Quiz
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1
Which of the following would not be considered an attribute an entrepreneur is most likely to possess?
A)Willingness to act ruthlessly at times
B)Possession of boldness and courage
C)Unafraid of undertaking risks
D)Lack in expertise and insight
2
One main form of opportunity for entrepreneurs is to create new business forms and find new ways to design and control a business's structure to increase its profitability. This exemplifies which of the following potential opportunity forms for an entrepreneur?
A)Occupational
B)Organizational
C)Commercial
D)Managerial
3
Of the following, which statement would be considered to be false about creative destruction?
A)Inefficient companies can be driven out of business by more modern firms.
B)Millions of jobs have been created as a result of this process.
C)It completely destroys the economic future for all older businesses under all circumstances.
D)Global competition and advancing technology are paramount to the process.
4
The act of giving up decision-making authority to other people is known as __________.
A)an agency problem
B)delegation
C)business in action
D)managerial expertise
5
__________ are employees to whom a company's owners delegate responsibility for using its resources to create profitable goods and services.
A)Capitalists
B)Entrepreneurs
C)Board of directors
D)Managers
6
Within an organization, which of the following is considered to be responsible for developing a company's business model and are ultimately responsible for its success or failure?
A)Board of directors
B)Top managers
C)Chief executive officers
D)Middle managers
7
Which of the following is best identified as being a revenue-focused measure of how competitive the firm's business model is?
A)Profitability
B)Organizing
C)Effectiveness
D)Efficiency
8
Of the following, all are considered to be functions of management except _______.
A)intrapreneurship
B)planning
C)controlling
D)leading.
9
_________ is known as being a process managers use to create a company's organizational structure.
A)Planning
B)Controlling
C)Leading
D)Organizing
10
At what stage of an individual's career management path would an individual be at if it is vital for them to quickly learn the task specific skills necessary to do the job?
A)Stage 2
B)Stage 3
C)Stage 1
D)Stage 5





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