English Language Tests-Intermediate level''''s archiveThe entrepreneurial life cycle (1) pdf

English Language Tests-Intermediate level's archive
The entrepreneurial life cycle (1)
1. Robert W. Price writes that the entrepreneurial life cycle
repeats itself in businesses of all sizes, from start-ups in a
to corporate entrepreneurship activities in global
Fortune 500 companies.

garage
garden
toolbox
trailer
2. It starts with an entrepreneur who perceives an
opportunity, creates an organization to pursue it,
assembles the required resources, implements a practical
plan, and the risks and the rewards, all in a timely
manner for all involved.

assumes
consumes
presumes
resumes
3. This is the significant difference that
entrepreneurial management apart from other business
management practices: in almost all cases, the person
making the decisions has personal risk at stake.

draws
makes
puts
sets
4. The worst-case for folks 'at work' is getting fired;

the worst case for entrepreneurs is losing their home,
personal credit, and lifestyle, as well as the destruction of
family relationships.

imbroglio
intaglio
portfolio
scenario
5. We define entrepreneurial management as the practice
of taking entrepreneurial knowledge and utilizing it for
increasing the effectiveness of new business as well
as operating small- and medium-sized businesses.

instigating
invigorating
venturing
verifying
6. The heart of entrepreneurial management is continually
these vital management issues: the mission and
values statement, the goals and objectives, growth
strategy, people and resources, organizational
capabilities, financing strategy, and its vision of success.

belaying
bobbling
jousting
juggling
7. These vital management issues and activities play
in what we call the entrepreneurial life cycle.

about
on
out
through
8. It was once said that entrepreneurship is a lot like
driving fast on an icy road, but we prefer to think of
entrepreneurship as less and more methodical.

feckless
intuitive
prohibitive
reckless
9. Entrepreneurship is a continual problem-solving
process; it is like putting together a huge puzzle; at
first pieces will seem to be missing, obscure, or not clearly
recognizable.

anacrostic
crossword
jigsaw
sudoku
10. Size, profitability, commitment, complexity, scale of
organizational structure, decrease in risk, increase in
value, and decrease in involvement characterize
each stage of the entrepreneurial life cycle.

builders'
creators'
founders'
progenitors'