ENT 241 TRUE OR FALSE

Ace your homework & exams now with Quizwiz!

Customers always embrace change in products and services. ⊚ true ⊚ false

F

Entrepreneurial action can be defined as times when entrepreneurs make do with resources at hand, applying those resources to new problems or opportunities. ⊚ true ⊚ false

F

Entrepreneurially run firms are driven by controlled resources whereas traditionally managed firms are driven by perception of opportunity. ⊚ true ⊚ false

F

Environmental changes are highly unlikely in emerging industries. ⊚ true ⊚ false

F

In reverse brainstorming the focus is on all the things that are right about an idea. ⊚ true ⊚ false

F

International joint ventures are decreasing in popularity. ⊚ true ⊚ false

F

One study found that new ventures started within a corporation performed better than those started independently by entrepreneurs. ⊚ true ⊚ false

F

The big-dream approach is a branch of brainstorming where the group is asked to dream big with no constraints. ⊚ true ⊚ false

F

The entrepreneur should always design and build his own webpage to maintain strategic control. ⊚ true ⊚ false

F

To truly understand the impact of a resource, you need to consider the resource itself rather than the firm's bundle or resources. ⊚ true ⊚ false

F

When an entrepreneur bootstraps the purchase of a company, none of the price of the acquisition is cash . ⊚ true ⊚ false

F

When developing an entrepreneurial culture, an organization needs to develop ways to become closer to its customers. ⊚ true ⊚ false

T

A "me-too" strategy consists of copying products that already exist and attempting to build an advantage through minor variations. ⊚ true ⊚ false

T

A joint venture is a separate entity that involves a partnership between two or more active participants . ⊚ true ⊚ false

T

A new entry can be either offering a new product to a new market or creating a new organization. ⊚ true ⊚ false

T

A new franchisee can be expected to be required to undergo considerable training on operating the business. ⊚ true ⊚ false

T

An acquisition is the purchase of a company, or part of a company, in which the acquired company ceases to exist independently. ⊚ true ⊚ false

T

An entrepreneurial strategy has three key stages—the generation of a new entry opportunity, the exploitation of a new entry opportunity, and a feedback loop back to the first stage. ⊚ true ⊚ false

T

Brainstorming is an unstructured process used for generating possible ideas about a problem within a limited time frame through the spontaneous contributions of participants. ⊚ true ⊚ false

T

Brainwriting is a written form of brainstorming. ⊚ true ⊚ false

T

Bricolage is entrepreneurs making do by applying combinations of the resources at hand to new problems and opportunities. ⊚ true ⊚ false

T

By understanding more about the other party, the entrepreneur has a greater opportunity to achieve integration in negotiation. ⊚ true ⊚ false

T

Comprehension questions are designed to stimulate entrepreneurs to think about their own understanding of the nature of the environment. ⊚ true ⊚ false

T

Corporate entrepreneurship is most strongly reflected in entrepreneurial activities as well as in top management orientations in organizations. ⊚ true ⊚ false

T

Creativity tends to decrease with age, education, lack of use, and bureaucracy . ⊚ true ⊚ false

T

Cultural differences between international joint venture partners can create management difficulties. ⊚ true ⊚ false

T

Developing a spirit of entrepreneurship within the existing organization, called corporate entrepreneurship, can lower resistance to flexibility, growth, and diversification. ⊚ true ⊚ false

T

Dissatisfaction with various aspects of one's job often motivates the launching of a new venture. ⊚ true ⊚ false

T

Entrepreneurial opportunities are those situations in which new goods, services, raw materials and organizing methods can be sold for financial or non-financial gain of the entrepreneur and/or other stakeholders. ⊚ true ⊚ false

T

Entrepreneurially managed firm structure is usually flat with multiple informal networks. ⊚ true ⊚ false

T

Entrepreneurs focus on how to minimize resources needed whereas traditional firms focus on accumulating resources. ⊚ true ⊚ false

T

Experience is idiosyncratic—unique to the life of the individual. ⊚ true ⊚ false

T

Growing a venture through franchising allows the venture to expand quickly using little capital. ⊚ true ⊚ false

T

In creating a culture for corporate entrepreneurship leadership is important. ⊚ true ⊚ false

T

Knowledge is the basis of the entrepreneurial resource. ⊚ true ⊚ false

T

Most entrepreneurs indicate that their most significant venture was not their first one. ⊚ true ⊚ false

T

Negotiating how the benefits of the relationship will be allocated between the parties is known as the distribution task. ⊚ true ⊚ false

T

New products may be classified from the viewpoint of either the consumer or the firm. ⊚ true ⊚ false

T

One advantage of franchising is that the entrepreneur usually enters into a business that has an accepted name and product. ⊚ true ⊚ false

T

One advantage to an acquisition is that there is an established customer base. ⊚ true ⊚ false

T

Perceived desirability refers to the degree to which an individual has a favorable or unfavorable evaluation of the potential entrepreneurial outcomes. ⊚ true ⊚ false

T

Terminating a franchise results in more lawsuits than any other issue in franchising. ⊚ true ⊚ false

T

The bargaining zone is the range of outcomes between the entrepreneur's reservation price and the reservation price of the other party. ⊚ true ⊚ false

T

The collective notebook method involves members recording their ideas at least once a day for about a week . ⊚ true ⊚ false

T

The entrepreneur's ability to recognize a business opportunity is a result of his or her knowledge and experience. ⊚ true ⊚ false

T

Traditionally managed firms typically punish failure. ⊚ true ⊚ false

T


Related study sets

Chapter 17 - Stress and Well-being

View Set

Superficial structures practice questions- thyroid/male pelvis

View Set

Managerial Accounting - Chapter Two

View Set

PHI 2604 Chapter 2: Subjectivism, Relativism, and Emotivism

View Set

Personal Lines Insurance Practice Exam

View Set

Central Place Theory AP Human Geography

View Set

ATI Pharm Endocrine System Test, ATI Diabetes Mellitus Management, diabets

View Set

Emergency Management Chapter 1-5

View Set