EBE Unit 2 Test Prep

Which personal characteristic of successful entrepreneurs reflects that successful entrepreneurs believe in themselves?

• Goal-oriented

• Independent

• Risk-takers

• Self-confident

Which personal characteristic of successful entrepreneurs reflects that successful entrepreneurs want to make their own decisions, set their own schedules, and can work without supervision?

• Goal-oriented

• Independent

• Risk-takers

• Self-confident

Which personal characteristic of successful entrepreneurs reflects that successful entrepreneurs develop a plan of action and make decisions to help achieve that plan?

• Goal-oriented

• Independent

• Risk-takers

• Self-confident

Which personal characteristic of successful entrepreneurs reflects that successful entrepreneurs are curious about things that may affect their business and are not afraid to ask questions?

• Creative

• Inquisitive

• Persistent

• Responsible

Which personal characteristic of successful entrepreneurs reflects that successful entrepreneurs are accountable for their actions?

• Creative

• Inquisitive

• Persistent

• Responsible

Which personal characteristic of successful entrepreneurs reflects that successful entrepreneurs are constantly looking for new ways to solve problems?

• Creative

• Persistent

• Responsible

• Self-confident

Having a large grand opening sale or a summer clearance sale and promoting the sale of new clothing and shoes through advertised specials are all examples of which stage of the entrepreneurial process?

• Concept Development

• Resourcing

• Actualization

• Harvesting

Offering shares of stock to public investors, planning goals for the business during the next five years, and planning goals for the business during the next ten years are all classified as which stage of the entrepreneurial process?

• Concept Development

• Resourcing

• Actualization

• Harvesting

What is an example of an activity that is performed during the actualization phase of the entrepreneurial process?

• Conduct a survey of potential customers

• Hold a clearance sale to reduce inventory

• Sell stock to the public through the NYSE

• Decide to locate the business in Charlotte

What is an example of an activity that is performed during the concept development phase of the entrepreneurial process?

• Complete an application for a SBA loan

• Conduct a survey of potential customers

• Create a five-year plan for the business

• Decide where to locate the business