MGMT 4252 Chapters 1-5
In an encouraging climate for corporate entrepreneurship, rewards should be based on the attainment of established performance goals.
TRUE
Members of the distribution channel are usually good sources of ideas for new products
TRUE
Newness of a new entry is sometimes a disadvantage
TRUE
All these are characteristics of an entrepreneurial environment except:
There are short term horizons
Creativity declines with
Age, education, and lack of use
Which of following creative problem solving method starts with a problem statement that is neither too broad nor too narrow?
Brainstorming
On the education background, entrepreneurs:
Cite an educational need in the areas of finance, strategic planning, marketing, and management
Questions designed to increase an entrepreneurs' understanding of the nature of the environment are known as:
Comprehension questions
Which among the following influences whether customers are able to use the good or service properly and whether they are able to understand the firm's advertising or other promotional messages?
Education
The set of decisions, actions, and reactions that first generate, and then exploit over time, a new entry:
Entrepreneurial strategy
Barriers to entry include all of the following except:
Environmental instability
In regards to thinking structurally, superficial similarities:
Exist when the basic (relatively easy to observe) elements of the technology resemble the basic elements of the market
A disadvantage of using licensing as an entry strategy for a foreign market is the high amount of risk involved
FALSE
An organization that wants to become more entrepreneurial must learn to obtain as many resources as possible in order to be more productive.
FALSE
Comprehension questions are designed to stimulate entrepreneurs to think about their own understanding
FALSE
In brainstorming, quality of ideas is desired- the fewer individuals coming up with good ideas, the greater the likelihood of the emergence of useful ideas
FALSE
Innovations such as penicillin, the steam engine, the computer, the airplane, the automobile, the Internet, and nanotechnology are al classified as technological innovations
FALSE
Nonverbal or hidden language of the culture can be though of in therms of several components- time, intangible value, and business relationshups
FALSE
Technological knowledge refers to the entrepreneur's possession of information, technology, know-how, and skills that provide insight into a market and its customers
FALSE
Traditionally managed firms commitment to opportunity is revolutionary with long duration.
FALSE
An opportunity assessment plan:
Focuses on the opportunity, not the venture
The General Agreement on Tariffs and Trade _____
Has little authority to enforce trade practices due to voluntary membership
_____ leads to increased initiative and persistence and thus improved performance
High self-efficacy
An entrepreneur who pursues a new entry opportunity only to find out that he or she had overestimated his or her ability to create customer demand is:
In error of commission
Entrepreneurial endeavors consist of all of the following key elements except:
Increasing productivity
Motivation to launch a new venture can arise from all of the following except:
Lack of prior experience
_____ knowledge refers to the entrepreneur's possession of information, technology, know-how, and skills that provide insight into the industry and customers
Market
In which stage is consumer reaction to the physical product/service determined?
Product development stage
IN determining the best channel of distribution system for a country, the global entrepreneur needs to consider several factors. Which of the following is not a factor for consideration?
Quality of human resources available
_____ are designed to stimulate thought about entrepreneurs' understanding and feelings as they progress through the entrepreneurial process
Reflection tasks
The first step in establishing corporate entrepreneurship in an organization is:
Securing commitment from top management
In the causal process of thinking:
Starts with a desired outcome and focuses on a means to generate that outcome
A new entry can be either offering a new product to a new market or creating a new organization
TRUE
An entrepreneur with loss-orientation would talk about the business-failure with a close friend or relative
TRUE
An example of a window of opportunity closing is when another entrepreneur has entered the industry and erected substantial barriers to entry and to limitation
TRUE
Bricolage is entrepreneurs making do by applying combinations of the resources at hand to new problems and opportunities
TRUE
Entrepreneurial opportunities are those situations in which new goods, services, raw materials and organizing methods can be sold at greater than their production cost
TRUE
Generally, independent, venture-capital-based start-ups by entrepreneurs tend to outperform corporate start-ups significantly
TRUE
In the collective notebook method, participants consider the problem and its possible solutions, recording ideas at least once, but preferably three times, a day
TRUE
Key success factors are the requirements that any firm must meet to successfully compete in a particular industry
TRUE
Only the test marketing phase of product planning provides actual sales results to judge the product's customer appeal
TRUE
Profits and tax benefits are common motivations for going global
TRUE
The Mcmullen-Shepherd Model explains how knowledge and motivation influence two stages of entrepreneurial action
TRUE
The United States is a relative newcomer to the international business arena
TRUE
The key successful entrepreneurship is to develop an idea that has a market with a need for the product or service idea conceived
TRUE
Determining first-mover advantage depends on all of the following except:
The ability of the company to maintain a legal monopoly in the market
The largest source of new product ideas is:
The entrepreneur's research and development
Reverse brainstorming is much like brainstorming except that:
The process usually involves identification of everything wrong with an idea
A turn-key project is best defined as:
A method of doing business whereby a foreign entrepreneur supplies the manufacturing technology or infrastructure for a business and then turns it over to local owners
While effectuating, entrepreneurs think through a problem in a way that starts with a desired outcome and focuses on the means to generate that outcome
FALSE