13. Research studies have rovealed that opportunity resognition tright be a. an innate skill or cognitive procens. b. an acquired skill c. a leamed skill d. all of the above 14. Strong-tic relationships are characterized by froquent interaction and a. form between coworkers b. form between spouses c. form between friends d. all of the above 15. An idea might be a business opportunity if. a. it meets a consumer need b. it is more creative c. your friends like it d. it passes the entrepreneurship test 16. The best time to develop a business model is out the company's operational aspects. a. before after the feasibility analysis stage and after b. after the feasibility analysis stage and after c. after the feasibility analysis stage and before d. after the feasibility analysis stage and after 17. The two general categories of business models are and a. normal; unique b. ordinary; disruptive c. ordinary; revolutionary d. standard; disruptive 18. A for its stakeholders. is a firm's plan or recipe for how it creates, delivers, and captures value a. commercialization plan b. business plan c. business model d. tactical model ine letter that corresponds to the best anvwer. (18 pts, each item Ipt.) [CLO1,1-12, K2] Alt entreprencur is someone who 3. works for himself b. has high risks c. hus the possibility to lose the business d. all of the above 2. The rewards of being an entrepreneur is a. you make your own rules and enjoy the work b. someone will make your own rules c. someone clse will run your business d. none of the above 3. One of the potential risks of being an entrepreneur is . a. expected obstacles b. potential business failure c. expected burriers d. all of the above 4. One of the personal characteristics of entreprencurs is a. inflexibility b. weaknesses c. patience d. all of the above 5. The common traits and characteristics of successful entrepreneur are a. visionary and alert to opportunitics b. creative and self-starter c. persuasive and optimistic disposition d. all of the above 6. One of the primary reasons that people become an entreprencur is a. financial rewards b. to think like an employee c. to get a job only in the government sector d. all of the above 7. One of the chanseteristics of entreprencurial fintms is a. risk adverse b. innovative c. less innoyative d. none of the above 8. The common snyths about entrepreneurs a. are gamblers b. bom to be entrepreneurs c. motivated mainly by money d. all of the above 9. . .w............................... is the process of creating something new; which is central to the entrepreneurial process. a. Innovation b. Ideation phase c. Creativity d. All of the above 10. The economic impacts of entrepreneurinl fims are related to. a. limited jobs b. Innovation and job creation e. reducing the econornic growth d. alt of the above 11. Growh in the use of mobile is an example of a. economic forees b. social forces c. technological advances d. all of the above 12 is the process of determining whether a business idea is practical. a. Feasibility analysis b. Creativity c. Innovation d. all of the above