Chapter 2: Varieties of Entrepreneurship

1. What is an ‘intrapreneur’?

  1. an emerging entrepreneur
  2. someone who acts entrepreneurially inside an existing organisation
  3. the founder of a large organisation
  4. the head of a business unit 

Answer: B

2. Lifestyle entrepreneurs’ businesses are hobby businesses that never grow.

  1. True
  2. False

Answer: B

Explanation

Lifestyle entrepreneurs prioritise quality of life but they might also want to achieve a reasonable level of income from their business.

3. What percentage of new businesses in the USA are set up by immigrants?

  1. 5%
  2. 15%
  3. 25%
  4. 35%

Answer: C

Explanation

25% of new businesses in the USA are set up by immigrants although they account for only about 13% of the population.

4. What do Arianna Huffington (The Huffington Post (No Huffpost), Thrive Global), Elon Musk (Tesla, SpaceX) and Sergey Brin (Google) have in common, apart from being successful entrepreneurs?

  1. all attended the same university
  2. extensive cross-cultural experience
  3. commitment to ethical business
  4. all are technology entrepreneurs

Answer: B

5. The combination of economic and social value creation involved in social enterprise is sometimes described as ______.

  1. transformational
  2. double bottom line
  3. ethical entrepreneurship
  4. triple bottom line

Answer: B

6. Why are women and ethnic minority people more likely to set up social enterprises?

  1. They are more likely to have empathy on social problems because of their background and experiences.
  2. There are more targeted initiates aimed at supporting social enterprise development among minority groups.
  3. Due to their background and experience, they are less likely to be commercially focused.
  4. Because social enterprises often grow out of the industry sectors where those groups are pre-dominantly employed

Answer: A

7. What is one of the main economic advantages of replicative entrepreneurship?

  1. efficiency in the labour market
  2. job creation, primarily through self-employment
  3. driving down prices for consumers
  4. the growth of an entrepreneurial culture

Answer: B