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If a person feels comfortable even in an uncertain situation the person has a tolerance for fa} Control (b} Achievement (c) Ambiguity (d; Independence

If a person feels comfortable even in an uncertain situation the person has a tolerance for fa} Control (b} Achievement (c) Ambiguity (d; Independence

Understanding Business
Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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ap tima If a person feels comfortable even in an uncertain situation the person has a tolerance for (a} Control (b} Achievement (c} Ambiguity (d} Independence 29. Entrepreneurs 00 30. Star {a) Are self-motivated (b} Have a high need for achievement (e} Are often perfectionists (d} All of the above Which of the following is a common entrepreneurial trait? (a} Viewing changes as opportunities (b; A tolerance for ambiguity (c) A high need for achievement (d} All of above Scanning the environment refers to the process of {a} Researching information about the business environment (b} Nurturing the entrepreneurial spirit {c} Studying entrepreneurship (d} Motivating oneself Which is not true of entrepreneurs? 31. 32. 33. (a} Sense that time is passing quickly {b} Recognize opportunities that other people do not see {c} See the "big picture" when others see only the parts {d} Are primarily motivated by money Which of the following has been identified as a reason for being self-employed? {a} To use personal skills and abilities {b} To gain control over one's life (c} To build something for the family {d} All of the above A person's belief in his capability to perform a task is known as {a} Ethno cultural beliefs {b} Scanning the environment +{c} Self-efficacy {d} Self- determination 34. 35. Thought self-leadership states that {a} Leaders must think of themselves as everyone's peer {b} You must learn to lead yourself before you lead others {c} People develop habits in the ways they think {d} A person cannot lead if others do not see him as a leader 36. Opportunity thinking is considered a {a} Functional habit {b} Bad habit {c} Risky habit {d} Neurotic habit A dysfunctional way of thinking is {a} Obstacle thinking {b} Opportunity thinking {c} Optimistic thinking (d; Positive thinking Thought patterns affect {a} Perceptions {b} The way a person processes information {c} Choices a person makes {d} All of the above Which of the following is true? {a} Members of some ethnocultural groups have a higher rate of business ownership than other groups {b} Individuals from different cultural groups do not all become 37. 38. 39. 40. entrepreneur for the same reason {c} Studies have shown that different cultures have varying values and beliefs (d} All of the above A habit of "opportunity thinking" may make a person more likely to {a} Engage in risky behaviour {b} Pursue entrepreneurship (c} Have less self-efficacy {d} Focus on negative aspects of a problem 41. 42. Self-efficacy is a person's belief in {a} Opportunities (b} The importance of perfectionism (c} His ability to perform a task {d} The importance of persistence
Transcribed Image Text:ap tima If a person feels comfortable even in an uncertain situation the person has a tolerance for (a} Control (b} Achievement (c} Ambiguity (d} Independence 29. Entrepreneurs 00 30. Star {a) Are self-motivated (b} Have a high need for achievement (e} Are often perfectionists (d} All of the above Which of the following is a common entrepreneurial trait? (a} Viewing changes as opportunities (b; A tolerance for ambiguity (c) A high need for achievement (d} All of above Scanning the environment refers to the process of {a} Researching information about the business environment (b} Nurturing the entrepreneurial spirit {c} Studying entrepreneurship (d} Motivating oneself Which is not true of entrepreneurs? 31. 32. 33. (a} Sense that time is passing quickly {b} Recognize opportunities that other people do not see {c} See the "big picture" when others see only the parts {d} Are primarily motivated by money Which of the following has been identified as a reason for being self-employed? {a} To use personal skills and abilities {b} To gain control over one's life (c} To build something for the family {d} All of the above A person's belief in his capability to perform a task is known as {a} Ethno cultural beliefs {b} Scanning the environment +{c} Self-efficacy {d} Self- determination 34. 35. Thought self-leadership states that {a} Leaders must think of themselves as everyone's peer {b} You must learn to lead yourself before you lead others {c} People develop habits in the ways they think {d} A person cannot lead if others do not see him as a leader 36. Opportunity thinking is considered a {a} Functional habit {b} Bad habit {c} Risky habit {d} Neurotic habit A dysfunctional way of thinking is {a} Obstacle thinking {b} Opportunity thinking {c} Optimistic thinking (d; Positive thinking Thought patterns affect {a} Perceptions {b} The way a person processes information {c} Choices a person makes {d} All of the above Which of the following is true? {a} Members of some ethnocultural groups have a higher rate of business ownership than other groups {b} Individuals from different cultural groups do not all become 37. 38. 39. 40. entrepreneur for the same reason {c} Studies have shown that different cultures have varying values and beliefs (d} All of the above A habit of "opportunity thinking" may make a person more likely to {a} Engage in risky behaviour {b} Pursue entrepreneurship (c} Have less self-efficacy {d} Focus on negative aspects of a problem 41. 42. Self-efficacy is a person's belief in {a} Opportunities (b} The importance of perfectionism (c} His ability to perform a task {d} The importance of persistence
Experts (a} Agree that anyone can be taught to be an entrepreneur (b} Believe that entrepreneurship can be taught only to someone who is under 20 years of age (c; Believe that entrepreneurship can be taught only to those who are over 20 years of age (d} Disagree on whether entrepreneurship can be taught When vocational counselors help people decide on a career choice they may consider {a} Basic values and beliefs (b} Personality traits (c} The person's self-concept (d} All 15. 16. of the above The "Big 5" personality characteristic most associate with entrepreneurship is {a} Extraversion (b} Conscientiousness (c) Agreeableness {d} Openness The "Big 5" personality trait most associated with entrepreneurship is {a} Openness {b} Extraversion {c} Conscientiousness (d} Neuroticism Which of the following is not true concerning entrepreneurs and risk? {a} They usually take high risks {b} They defines risks early in the start-up process {c} They minimize risks to every extent possible {d} They see risk differently than the general public 17. 18. 19. If an entrepreneur has an internal locus of control this means he/she {a} Minimizes risk {b} Feels comfortable in an unstructured situation {c} Believes that success or failure depends on his/her own actions (d} Sees changes as opportunities Which of the following is a common entrepreneurial trait? {a} A passion for the business {b} Persistence despite failure (c} Self-confidence (d} All of the above It is common for entrepreneurs to learn about an industry before starting a business. This often done by {a} Reading trade magazines {b} Talking to friends {c} Going to training programs {d} 20. 21. 22 Working for someone else People who believe that economy determines one's success or failure have a {a} External locus of control {b} Money motivation {c} Tolerance for ambiguity {d} 23. Achievement motive Entrepreneurs would best be described as risk {a} Seekers {b} Avoiders {c} Managers {d} Loving Walt Disney and Henry Ford are two examples of entrepreneurs who {a} Had a "flash of genius" {b} Were financially motivated {c} Succeeded only after failing several times {d} Were poor managers of risk Entrepreneurs {a} Search for change {b} Respond to change {c} Exploit change as an opportunity {d} 24. 25. 26. All of the above 27. Most successful entrepreneurs have a tolerance for ambiguity. {a} Minimizes risk {b} Feels comfortable with uncertainty {c} Believes that success or failure depends on his/her own actions {d} Sees changes as opportunities Entrepreneurs have a high need for {a} Achievement {b} Making money {c} Structure {d} Taking risks 28.
Transcribed Image Text:Experts (a} Agree that anyone can be taught to be an entrepreneur (b} Believe that entrepreneurship can be taught only to someone who is under 20 years of age (c; Believe that entrepreneurship can be taught only to those who are over 20 years of age (d} Disagree on whether entrepreneurship can be taught When vocational counselors help people decide on a career choice they may consider {a} Basic values and beliefs (b} Personality traits (c} The person's self-concept (d} All 15. 16. of the above The "Big 5" personality characteristic most associate with entrepreneurship is {a} Extraversion (b} Conscientiousness (c) Agreeableness {d} Openness The "Big 5" personality trait most associated with entrepreneurship is {a} Openness {b} Extraversion {c} Conscientiousness (d} Neuroticism Which of the following is not true concerning entrepreneurs and risk? {a} They usually take high risks {b} They defines risks early in the start-up process {c} They minimize risks to every extent possible {d} They see risk differently than the general public 17. 18. 19. If an entrepreneur has an internal locus of control this means he/she {a} Minimizes risk {b} Feels comfortable in an unstructured situation {c} Believes that success or failure depends on his/her own actions (d} Sees changes as opportunities Which of the following is a common entrepreneurial trait? {a} A passion for the business {b} Persistence despite failure (c} Self-confidence (d} All of the above It is common for entrepreneurs to learn about an industry before starting a business. This often done by {a} Reading trade magazines {b} Talking to friends {c} Going to training programs {d} 20. 21. 22 Working for someone else People who believe that economy determines one's success or failure have a {a} External locus of control {b} Money motivation {c} Tolerance for ambiguity {d} 23. Achievement motive Entrepreneurs would best be described as risk {a} Seekers {b} Avoiders {c} Managers {d} Loving Walt Disney and Henry Ford are two examples of entrepreneurs who {a} Had a "flash of genius" {b} Were financially motivated {c} Succeeded only after failing several times {d} Were poor managers of risk Entrepreneurs {a} Search for change {b} Respond to change {c} Exploit change as an opportunity {d} 24. 25. 26. All of the above 27. Most successful entrepreneurs have a tolerance for ambiguity. {a} Minimizes risk {b} Feels comfortable with uncertainty {c} Believes that success or failure depends on his/her own actions {d} Sees changes as opportunities Entrepreneurs have a high need for {a} Achievement {b} Making money {c} Structure {d} Taking risks 28.
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