Chapter 6

Question 1

Independently owned and operated, not dominated in its field of operation

Answer 1

Small business

Question 2

Business owners who in the classic meaning of the term, see a new opportunity for a product or service and start firms that may lead to a high growth business

Answer 2

Enterprise

Question 3

The process of taking risks to try to create a new business

Answer 3

Entrepreneurship

Question 4

An individual who sees a new opportunity for s product of service and starts a firm that can lead to a high growth business

Answer 4

Classic entrepreneur

Question 5

Someone who works inside an existing organization who sees opportunity for a product or service and mkay kisses the organizations resources to try and realize it

Answer 5

Intrapreneur

Question 6

A group of people with different kinds of expertise who form a team to create a new product

Answer 6

Entrepreneurial team

Question 7

A team whose members are separated fork fly the normal opposition of an organization and asked to produce a new innovated project

Answer 7

Skunk works

Question 8

Those who are ambitious and start their own business in a voluntary pursuit of opportunity

Answer 8

Opportunity entrepreneurs

Question 9

People who suddenly must earn a living and are simply trying to replace lost income

Answer 9

Necessity entrepreneurs

Question 10

An experienced person who coaches and guides a lesser experienced people by helping them understand an industry or organization culture and structure

Answer 10

Mentor

Question 11

These who take the risk of starting and managing a business that remains small (often home based) lets them do the kind of work they want to do and offer them a balanced life style

Answer 11

Micropreneurs