ENTR 3001 : Assignment: Chapter 02

Entrepreneurial cognition includes which of the following attributes? - The understanding of how to simplifying mental models and piece together previously unconnected information. - The knowledge structures to make assessments, judgments, or decisions involving opportunity evaluation, venture creation, and growth. - The ability to identify and invent new products or services - ALL OF THE ABOVE

All of the above

Characteristics often attributed to the entrepreneur include:

Commitment, determination, and perseverance

A loss orientation toward grief recovery in dealing with failure can sometimes lessen negative emotional reactions

False

The generation of the twenty-first century believe that career success will require them to be less nimble, independent, and entrepreneurial than past generations and focus on tried and true educational disciplines for long-term career stability

False

Codes of conduct are becoming more prevalent in industry are proving to be more meaningful, more comprehensive and easier to implement in terms of the administrative procedures used to enforce them

True

New research into the foundation of the entrepreneurial mind-set identifies cognitive adaptability as a person's ability to be dynamic, flexible, and self-regulating in cognitions given dynamic and uncertain task environments

True

The decision to behave entrepreneurially is the result of the interaction of all the following except a. a new market. b. the existence of a viable business idea. c. the relevant business environment. d. the individual's personal entrepreneurial mind-set and an opportunity.

a new market

Areas of risk to the entrepreneur include

career, family, psychic.

A __________ is a statement of ethical practices or guidelines to which an enterprise adheres.

code of conduct

Commitment, determination, and perseverance are the only characteristics one needs to become a successful entrepreneur.

false

Ethics represents a set of principles prescribing a behavioral code that does not include moral duty and obligations.

false

The "dark side" of entrepreneurship refers to the stress that entrepreneur's experience.

false

Today's entrepreneurs are faced with few ethical decisions because the legal system imposes greater penalties on wrongdoers.

false

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

having a chronic sense of time urgency.

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

illegal and unethical decision.

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

internal locus of control.

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)

legal and unethical decision.

Every person has the _____ and _____ to pursue a career as an entrepreneur.

potential; free choice

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

psychic risk

Not confronting someone who is cheating on expense accounts is an example of which of the following?

role failure act

The entrepreneurial ego can cause the entrepreneur to

take characteristics that usually lead to success to the extreme.

Generally, entrepreneurial stress is due to

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

Entrepreneurial cognition is, in part, about understanding how entrepreneurs use simplifying mental models to make assessments, judgments, and decisions about opportunities.

true

There is a certain psychic risk involved with entrepreneurship.

true

Which of the following negative effects of an entrepreneur's inflated ego can result in a fantasy approach to business?

unrealistic optimism