Chapter 1

In stage two of the McMullen Shepherd model

the entrepreneur decides whether or not there is an opportunity for him or her personally.

In the McMullen Shepherd model, first person opportunity beliefs come before third person opportunity beliefs

False

Sustainable entrepreneurship provides only environmental gains for others

False

The McMullen shepherd model helps identify the common traits of successful entrepreneurs

False

The entrepreneurial challenge often lies in making creative mental leaps based on superficial similarities

False

entrepreneurial action can be defined as times when when entrepreneurs mane do with resources at hand, applying those resources to new problems or opportunities

False

Attention stage

Perspective, entrepreneurs need to recognize if there is an opportunity

Entrepreneur opportunities are there situations in which new goods services materials and organizing methods can be sold for financial or non-financial gain of the entrepreneur, and or other stakeholders

True

Entrepreneurial thinking is partly a mental process of recognizing a social and then deciding if the signal represents an opportunity for someone

True

Entrepreneurial thinking is partly about reducing doubt as to whether an opportunity for someone use also an opportunity for them specifically and or processing feedback from action steps taken

True

Structural similarities exist when the underlying mechanisms of the technology resemble, or match, the underlying mechanisms of the market

True

The McMullan Shepherd model explains how knowledge and motivation influence two stages of entrepreneur action

True

Effectuation process

a process that starts with what one has (who they are, what they know, and whom they know) and selects among possible outcomes

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

Casual Process

A process that starts with a desired outcome and focuses on the means to generate that outcome is known as casual process

An entrepreneur, considering, if what they are doing makes sense as an example of

A reflection task

Entrepreneurial action

Action through the creation of new products/processes and/or the entry into new markets, which may occur through a newly created organization or within an established organization.

Structural similarities

An entrepreneurial challenge often lies in making creative metal leaps on structural similarities

Perceived desirability of

An individuals attitude towards entrepreneurial action, the degree to which he, or she has a favorable or an unfavorable evaluation of the potential entrepreneurial outcome is referred to as

When entrepreneurs make due by applying combinations of the resources at hand to new problems and opportunities, this is known as

Bricolage

sustainable entrepreneurship

Entrepreneurship focused on preserving nature, life support, and community (sustainability) in the pursuit of perceived opportunities to bring future products, processes, and services into existence for gain (entrepreneurial action) where gain is broadly construed to include economic and noneconomic benefits to individuals, the economy, and society (development)

With regard to thinking structurally, superficial similarities

Exist when the basic (relatively easy to observe) elements of technology resemble the basic elements over the market

Professional support network

Individuals who help the entrepreneur in business activities

Entrepreneurial mind-set

Involves the ability to rapidly sense, act, and mobilize, even under uncertain conditions.

Evaluation stage

Prospective entrepreneurs need to assess if a viable opportunity matches their knowledge and motivation levels.

Which, among the following aspects, most effects and entrepreneurs perception of feasibility

Self efficiency

Entrepreneur opportunities are defined as

Situations in which new good services, raw materials and organizing methods can be sold at greater than their production cost

entrepreneurial opportunities

Situations in which new goods, services, raw materials, and organizing methods can be introduced for financial or non-financial gain are known as

Entrepreneurial self efficacy

The commission that one can successfully execute, the entrepreneurial process is known as

In stage one of the McMullen Shepard model

The entrepreneur decides whether or not there is an opportunity for someone

Entrepreneurial intentions

The motivational factors that influence individuals to pursue entrepreneurial outcomes, are known as

Cognitive Adaptability

describes the extent to which entrepreneurs are dynamic, flexible, self-regulating, and engaged in the process of generating multiple decision frameworks focused on sensing and processing changes in their environments and then acting on them

The casual process of thinking

starts with a desired outcome and focuses on the possible means to generate that outcome.