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
