Pepe Pieman believes that pizza is a much more versatile meal than most people talize. As the national marketing manager for Pizza Pals, he has watched how consumer ste up barbecue pizza, Hawaiian pizza, Mexican pizza, and other new and unique combinations. His superiors, however, met his suggestions for other unusual pizzas with a negative response. Even some of his teammates laughed at his ideas. P ability to understand the market has led him to focus on planning a business of his own. Pepe realizes that he will take a risk when he leaves his job with Pizza Pals and sets off on a new endeavor: Pepe's Pizzazzeria. Pepe is excited about the potential of profitably catering to the unmet desires of pizza consumers.
1) Given Pepe's willingness to accept the risks of opening and running Pepe's Pizzazzeria, he is clearly an example of a(n):_____.
A) arbitrageur.
B) intrapreneur.
C) gambler.
D) entrepreneur
2) Pepe remains confident and enthusiastic even though his colleagues have poked fun at his ideas. This shows that Pepe is:.
A) self-disciplined.
B) Self-nurturing
C) self-generating
D) auto-inspirational
3) Pepe is confident that Pepe's Pizzazzeria will be a success, but only if he has enough money to do things right. Since Pepe has very little personal wealth, he knows he must find financial assistance. In order prepare for meetings with banker and potential investors, Pepe should:_.
A) hire a public relations firm to develop promotional materials.
B) develop a business plan.
C) read a book on entrepreneurship.
D) create a partnership contract.
4) Pepe has asked about the possibility of obtaining a microloan from the SBA. This type of loan is awarded primarily on the basis of the:_____.
A) borrower's integrity and the soundness of the business idea.
B) amount of collateral the borrower can pledge.
C) borrower's credit history and record of previous business success.
D) age of the borrower, since only senior citizens qualify.
5) As a former classmate of Pepe's at the nearby university, you remind him what you both learned in your small business management class several years ago. What would you remind him?
A) Restaurants are easy to start up, but difficult to keep going.
B) Restaurants are probably the most difficult type of business to start up, due to the labor-intensive aspects of the business.
C) Experts believe that restaurants have a high profit potential, due the fact that there is not much direct competition.
D) Restaurants are easy to start up and have great profit potential.

1) Entrepreneurship is the process of venturing into new and innovative ways of channelizing resources. It comes with accepting the possibilities of risk while venturing into a business.

2) The quality of self-discipline helps one to control its own actions and emotions in a particular way. It is the ability to remain confident and enthusiastic when others keep on poking at them.

3) A good business plan is very important when one visits SBAs for obtaining financial assistance. One should prepare a promising business plan.

4) The SBAs focus more on borrower's integrity and the soundness of the business idea. It is important to demonstrate an innovative yet promising business plan to SBAs.

5) Restaurants are easy to start up, but difficult to keep going because restaurants need inflow of regular or daily customers. With tough competition in the market, it is hard to keep customers attracted to one restaurant all the time. When customers change their preferred restaurant, the old restaurant incurs a huge setback.