ENTR 321 exam 1

false

(T/F) A loss orientation toward grief recovery in dealing with failure can sometimes lessen negative emotional reactions

false

(T/F) Commitment, determination, and perseverance are the only characteristics one needs to become a successful entrepreneur

true

(T/F) During the past ten years, new business incorporations averaged nearly 600,000 per year

false

(T/F) Ecopreneurship is a combination of ecologically and economically sustainable development

false

(T/F) Entrepreneurs always start their business at a young age

false

(T/F) Ethics represents a set of principles prescribing a behavioral code that does not include moral duty and obligations

false

(T/F) Gazelles are almost always high tech

true

(T/F) In the model of sustained corporate entrepreneurship discussed in the text, a transformational trigger can be internal or external to the company

true

(T/F) Individuals may avoid corporate entrepreneurial behavior due to the impact of traditional management techniques

false

(T/F) International alliances rarely require the exchange of proprietary knowledge

true

(T/F) Licensing agreements can involve patents, trademarks, and technical know-how

true

(T/F) Social entrepreneurs are known to combine resources to exploit opportunities to create social value

false

(T/F) Successful global start-ups, or entrepreneurial businesses that are "born global," surprisingly often lack internationally experienced management

true

(T/F) The four basic types of innovation are invention, extension, duplication, and synthesis

true

(T/F) The generation of the twenty-first century may become known as generation E because it is becoming the most entrepreneurial generation since the Industrial Revolution

true

(T/F) The macro view of entrepreneurship includes external processes that are sometimes beyond the control of the entrepreneur

false

(T/F) Today's entrepreneurs are faced with few ethical decisions because the legal system imposes greater penalties on wrongdoers

true

(T/F) entrepreneurs are aggressive catalysts for change within the marketplace

false

(T/F) entrepreneurs are high risk takers

false

(T/F) the "dark side" of entrepreneurship refers to the stress that they experience

the "dark side" of entrepreneurship

- a desire for success - an external optimism - a sense of distrust

reasons for the growth of corporate entrepreneurship

- a rapidly growing number of new and sophisticated competitors - an exodus of some of the best people out of corporations - a sense of distrust in the traditional methods of corporate management

common myths about entrepreneurs

- all you need is money to be one - they are academic and social misfits - they are doers, not thinkers

illegal and unethical decision

A decision to sell pharmaceuticals that have not been cleared with the Federal Drug Administration is an example of a(n)

unethical and legal

A decision to sell toys that pass minimum safety standards but can often result in minor accidents to children is an example of a(n)

the speed with which information flows across borders

Among the advantages for global entrepreneurs of diaspora networks is

low-profit, limited liability company

An L3C is a new legal form for social enterprises known as

the triple bottom line

An account framework that goes beyond the traditional measures of profit, return on investment, and shareholder value to include environmental and social dimensions

true

Decide if the following action would help develop corporate entrepreneurship (True) or not (False). - Allow bootlegging of ideas.

false

Decide if the following action would help develop corporate entrepreneurship (True) or not (False). - Encourage structured activity

false

Decide if the following action would help develop corporate entrepreneurship (True) or not (False). - Make extensive use of formal meetings

false

Decide if the following action would help develop corporate entrepreneurship (True) or not (False). - Set implicit goals

having a chronic sense of time urgency

Entrepreneurial stress can be caused by having a type A personality which can be defined as:

unemployment

Entrepreneurs and gazelles have been credited with making disproportionate contributions to all but which of the following?

ethical and illegal

Giving a gift of $50,000 to a foreign minister to secure a business contract with his country (a customary practice in his country) and then writing off the gift as a tax-deductible item

skunk works

Groups that function outside traditional lines of authority permitting rapid turnaround of new ideas as well as instilling a high level of group loyalty are called

social entrepreneurs motivated by profitability with social benefits being the means

If we accept the argument that social entrepreneurship is a continuum, at one extreme would be social entrepreneurs driven exclusively by producing social benefits; at the other, would be

promote entrepreneurship through experimentation

In restructuring corporate thinking, top management should

international alliances

Informal, formal, or joint collaborations are

eliminating the concept of conservation

Key elements in plans to create a sustainable future are likely to include which of the following?

unethical and legal

Knowing that 1 percent of all tires have production defects but shipping them anyway and giving mileage allowances to anyone whose tires wear out prematurely

left hemisphere of the brain

Logical and analytical skills are developed in the

by perceiving in a relational mode

Looking for different or unorthodox relationships among elements and people is one way to develop creativity. How might a person develop this capacity?

ethical and legal

Manufacturing a new fuel additive that will increase gas mileage by 10 percent

owners being more technical rather than entrepreneurial

Michael Gerber, the author of The E-Myth, explains that the failure of most small businesses is due to

unethical and illegal

Obtaining inside information from another brokerage that results in the entrepreneur netting more than $2 million

social obligation

One researcher established a framework that classified social actions of corporations into distinct categories that included social responsiveness and ________?

incongruities

Overnight package delivery is illustrative of which source of innovation?

ecopreneurs

___ are concerned only with economically sustainable development

a "gazelle"

a business establishment with at least 20 percent sales growth every year for five years

joint venture

a company owned by two or more organizations

code of conduct

a statement of ethical practices or guidelines to which an enterprise adheres

corporate social responsibility

actions that further some social good beyond the interests of the firm

NAFTA

an international agreement among Canada, Mexico, and the United States that eliminates trade barriers

career, family, psychic

areas of risk to the entrepreneur

job growth, personal income, cost of underemployment

bottom-line measures of economic performance

OPIC

can cover three types of risk: currency inconvertibility insurance, expropriation insurance, and political environment insurance

purpose, accountability, transparency

characteristics associated with socially sustainable enterprises

intense commitment and perserverence

entrepreneurs are driven by these two things

ethical and illegal

Producing and selling a drug that will reduce heart attacks but failing to complete all of the paperwork that must be filed with the government prior to selling the product

diaspora networks

Relationships among ethnic groups that share cultural and social norms

the individual's personal entrepreneurial mind-set and an opportunity

The decision to behave entrepreneurially is the result of the interaction of:

economic, cultural, political

The displacement school of thought can be divided into which three groups?

conducting research

The first of five steps for entering the international marketplace is

sharing the vision of innovation

The first step in planning a strategy of entrepreneurship for enterprise is

letting the subconscious work

The incubation process involves which of the following?

environmental, financial, displacement

The macro view can be broken down into which three areas?

encourage innovation

The major thrust of corporate entrepreneurship is to

venture opportunity theory, entrepreneurial, strategic

The micro view is divided into which three theories?

social responsiveness

The most pro-active position for a corporation to take in regard to social responsibility would be termed

idea experience

The phase of the creative process when the idea or solution the individual is seeking is discovered is the

developing and encouraging innovation

The second step in planning a strategy of entrepreneurship for the enterprise is

to undertake

The word entrepreneur is derived from the French entreprendre, which is translated as

lack of research

Throughout the years, many myths have arisen about entrepreneurship as a result of

strategically adapting to change

Transformational triggers in a corporate entrepreneurial environment initiates the need for

internal locus of control

When entrepreneurs believe that their accomplishments and setbacks are within their own control and influence, they are exhibiting

top management support, time, resources, rewards, and organizational boundaries

Which of the following are specific factors identified by researchers, that organizations can concentrate on in structuring an entrepreneurial climate

an increase in corporations losing some of their best people

Which of the following helps account for the rise of interest in corporate entrepreneurship?

traditional management techniques

Which of the following is an obstacle to corporate entrepreneurship?

psychic risk

Which of the following may be the greatest risk to the well-being of the entrepreneur?

either/or thinking, stereotyping

Which of the following mental habits inhibit creativity and innovation?

"corridor principle"

With every new venture launched, new and unintended opportunities arise

licensing

is a business arrangement in which the manufacturer of a product gives permission to some group or individual to manufacture the product in return for specified royalties or other payments

importing, exporting, licensing

methods for going international

process approach to entrepreneurship seeks to

model the various factors that characterize the entrepreneurial process

unique markets

mountain gap strategies refer to

bootlegging

refers to secretly working on new ideas on company time as well as on personal time

people, plant, profits

the 3 Ps of the triple bottom line

entrepreneurship

the ability to create and build a vision from practically nothing

synthesis

the combining of existing concepts into a new formulation

entrepreneurial stress is due to

the discrepancy between the entrepreneur's expectations and the ability to meet demands

entrepreneurial ego can cause

the entrepreneur to take characteristics that usually lead to success to the extreme

model of entrepreneurship motivation

the entrepreneur's expectations are compared with the actual or perceived outcomes of the firm

accumulation, incubation, idea experience, evaluation

the four phases of the creative process

radical innovation

the inaugural breakthroughs launched from experimentation and determined vision

external locus of control

the macro view of entrepreneurship presents factors exhibiting strong

innovation

the process by which entrepreneurs convert opportunities into marketable ideas

incremental innovation

the systematic evolution of a product or service into newer or larger markets

WTO (World Trade Organization)

the umbrella organization governing the international trading system

sources of innovation

unexpected occurrences and incongruities