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Practicing Entrepreneurship in Mindset MCQ

If you are the type of person who tends to see failure as a learning opportunity, you likely have a ______ mindset.

Answer

Correct Answer: Growth

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A(n) ______ is a specific subcategory of social entrepreneurship for organizations certified ensuring strict standards of social and environmental performance, accountability, and transparency.

Answer

Correct Answer: benefit corporation

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What is the approach to entrepreneurship which emphasizes planning and prediction?

Answer

Correct Answer: the process approach

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The Practice of Entrepreneurship involves starting with means at hand, describing the idea, and ______.

Answer

Correct Answer: networking and enrolling others in your journey

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What is entrepreneurship that is carried out by employees working in units?

Answer

Correct Answer: corporate entrepreneurship

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What is the primary reason to tell your current employer about your side venture?

Answer

Correct Answer: ethics

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What type of thinking works during periods of certainty?

Answer

Correct Answer: managerial

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Which of the following is accurate concerning family enterprises?

Answer

Correct Answer: 70% of family businesses fail or are sold before the second generation takes over.

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______ is a way of thinking, acting, and being that combines the ability to find or create new opportunities with the courage to act on them.

Answer

Correct Answer: Entrepreneurship

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Serial Entrepreneurs are also known as ______, or, people who start several businesses.

Answer

Correct Answer: habitual entrepreneurs

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One advantage of a family enterprise is that it ______.

Answer

Correct Answer: is often more stable

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Which of the following is true about entrepreneurs and risk?

Answer

Correct Answer: Most successful entrepreneurs are very calculated risk takers.

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A franchisee pays ______, which are a share of proceeds based on sales revenue.

Answer

Correct Answer: royalties

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Research has shown that there are patterns in entrepreneurs’ ______.

Answer

Correct Answer: thought processes

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A method of carrying out carefully focused efforts to improve current performance is known as ______ practice.

Answer

Correct Answer: deliberate

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A(n) ______ is a temporary organization in search of a scalable business model.

Answer

Correct Answer: startup

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A process that involves compensating ourselves when we achieve our goals. These rewards can be tangible or intangible.

Answer

Correct Answer: Self-Reward

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Self-Punishment is a process that allows us

Answer

Correct Answer: to examine our mistakes before making a conscious effort not to repeat them.

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A process that raises our awareness of how, when, and why we behave the way we do in certain circumstances is known as?

Answer

Correct Answer: Self-Observation

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Self-Leadership is a process of?

Answer

Correct Answer: whereby people can influence and control their own behavior

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The process of setting individual goals for ourselves is known as?

Answer

Correct Answer: Self–Goal Setting

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The process of prompting that acts as a reminder of desired goals and keeps your attention on what you are trying to achieve is known as.

Answer

Correct Answer: Self-Observation

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Types of compensation designed to make aspects of a task or activity more enjoyable by building in certain features or by reshaping perceptions to focus on the most positive aspects of the task and the value it holds. This statement is suitable for ?

Answer

Correct Answer: Natural Reward Strategies

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Metacognition is ability

Answer

Correct Answer: to understand and be aware of how we think and the processes we use to think.

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Improvisation is the art of_______.

Answer

Correct Answer: spontaneously creating

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A sometimes unconscious pattern of behavior that is carried out often and regularly.

Answer

Correct Answer: Habit

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Startup is a _________ in search of a scalable business model.

Answer

Correct Answer: Temporary organization

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The process of sourcing innovative solutions to social and environmental problems.

Answer

Correct Answer: Social Entrepreneurship

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Entrepreneurs who start ______ either simultaneously or consecutively.

Answer

Correct Answer: Several businesses

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A share of the income of a business paid by a franchisee to the franchisor.

Answer

Correct Answer: Royalties

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Outbound Marketing is Promoting your product or service through traditional activities such as advertising,_______, and cold calling

Answer

Correct Answer: Trade shows

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Bringing potential customers to your business by creating online content that addresses their needs, in order to build trust and brand awareness.

Answer

Correct Answer: Inbound Marketing

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A type of license purchased by a franchisee from an existing business called?

Answer

Correct Answer: Franchisor

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Family Enterprise managed by?

Answer

Correct Answer: family members

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Entrepreneurship a way of thinking, acting, and being that combines the ability to find.

Answer

Correct Answer: New opportunities

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Who thinks and acts entrepreneurially within organizations?

Answer

Correct Answer: b) Entrepreneurs

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Deliberate Practice is

Answer

Correct Answer: c)Carrying out carefully focused efforts to improve current performance.

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A process of creating new products, ventures, processes, or renewal within large organizations is known as.

Answer

Correct Answer: Corporate Entrepreneurship & Intrapreneurship

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Benefit Corporation nonprofit B Lab that

Answer

Correct Answer: a)set rules environmental performance, accountability and transparency

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