1.
Which of the following best defines the entrepreneurship process?
A.
Providing both direct and indirect services to customers
B.
Using IT to assemble materials into the final product
C.
Acquiring and combining resources to create goods or services for customers to buy.
D.
Exchanging or selling services to other companies
Correct :
The main role of the entrepreneur is to provide the vision and resources to create goods. The other activities listed are typically the role of employees.

Materials
The Role of the Entrepreneur
2.
How do managers help the company’s stakeholders?
A.
Assisting customers with their purchases
B.
Assembling materials into finished products
C.
Providing financing to grow the business
D.
Creating profitable goods and services
Correct :
Managers are employees hired by business owners to “use their resources to create profitable goods and services” (Jones, 2007, p. 74).

Materials
The Role of Management
The Agency Problem: The Separation of Ownership from Control
3.
What is a difference between an employee and a manager?
A.
Employees are responsible for providing vision and leadership
B.
Employees hold each other accountable for success of the business
C.
Employees have decision making authority over the organization’s resources
D.
Employees perform the many jobs to make, facilitate, and sell a product
Correct :
Employees perform “the many jobs necessary to make and sell a product” (Jones, 2007, p. 82).The main difference between managers and employees is that employees provide direct work for the business, rather than the leadership and oversight of resources.

Materials
The Role of the Employee
4.
Jones (2007) describes a three-stage business plan used by managers. Which of the following is one of the stages?
A.
Assembling raw materials into finished products
B.
Calling