Entrepreneur
All of the following statements are true of sustainable entrepreneurship except: Entrepreneurs with a positive attitude toward the natural environment never disengage these values to exploit an opportunity. b. It is not just the natural environment that needs sustained; communities also need to be preserved, c. Environmental gains include reduced air pollution, improved air quality, and enhanced living conditions. d. Social gains include improved child survival rates, longer life expectancy, and equal opportunity.
A
Concerns regarding roads, electricity, banking facilities, communication, and educational systems have to do with a country's: infrastructure. balance payments. political climate. economics.
A
Having an entrepreneurial orientation toward the control of resources means: that one focuses on accessing others' resources. that one focuses on purchasing resources. that one has a belief that resources are unlimited and therefore easy obtain. that one focuses on using a hierarchy management structure in allocating resources.
A
The window of opportunity is part of: A assessing the attractiveness of a new entry opportunity. b. creating a resource bundle. C choosing an entry strategy. d. choosing a risk reduction strategy.
A
To be the basis of a firm's superior performance over competitors for an extended time, valuable and rare resources need to be A inimitable B full utilized C patented D shared
A
10. Which among the following political risks is considered the biggest risk of all? a. Transfer risk B Ownership risk c, Investment risk d) Operating risk
B
First movers: a. are not able to gain from moving down the experience curve. b. are better positioned to satisfy customers . C face more competition than late movers. d. fail to secure important channels.
B
On the education background, entrepreneurs: are less educated than the general population. B cite an educational need in the areas of finance, strategic planning, marketing, and management. Cwho lack a formal education, fail to create new businesses and exploit discovered opportunities. d. cite formal education to be indispensable in starting a new business.
B
Trends for the next decade include all of the following except: A Green products New age music Clean energy d. Health Maintenance
B
Which of the following is a contract that grants the owner protection, based on the appearance of an object? Utility patent Design patent Plant patent Disclosure document
B
is the process of an entrepreneur conducting business activities across national borders. A Intrapreneurship B International entrepreneurship c. Domestic entrepreneurship d. Direct importing
B
10. Creativity declines with: training and tradition. education and work experience. age, education, lack of use, and bureaucracy. mental health and work experience.
C
Which of the following is most effective in grief-recovery? Restoration-orientation Loss-orientation Dual process Grief recovery process
C
10. The first step in establishing corporate entrepreneurship in an organization is: a. finding mid-level ways to get closer to customers managers to champion ideas b. developing ways to get closer to customers C learn to be more productive with fewer resources D. Securing commitment from top mangement
D
10. Which of the following statements concerning patents is not true? a. A patent gives the owner a negative right, preventing anyone from making, using, or selling the defined invention. b. A utility patent has a term of 20 years. c. Plant patents are issues under the same provisions as utility patents. around a patent. D Traditionally, utility patents were thought to be useless because it is easy to design
D
8. Which among the following aspects most affects an entrepreneur's perception of feasibility? a. Locus of control b. Learning style C Perceived desirability D Self-efficacy
D
Which of the following is not a leadership characteristic of a corporate entrepreneur according to the text? Flexibility and vision Persistence Encourages teamwork Encourages colleagues to follow hierarchy
D
Which of the following statements is true? a. Customers form the largest source of new ideas for entrepreneurs. While members of the distribution channel may be willing to provide new ideas for entrepreneurs, they may not help market them. The Federal Government is not a source of new ideas since the patent information they collect is confidential. ( d. Potential entrepreneurs should establish a formal method for monitoring and evaluating competitive products and services on the market.
D
With regard to thinking structurally, superficial similarities: a. exist when the underlying mechanisms of the technology resemble (or match) the underlying mechanisms of the market. b. exist when supply is less than demand. C exist when entrepreneurs engage in bricolage. D exist when the basic (relatively easy to observe) elements of the technology resemble the basic elements of the market.
D
A design patent has a term of 20 years, beginning on the date of filing with the Patent and Trademark Office (PTO).
F
A highly skilled workforce represents an important resource, but the impact of this resource on performance is reduced when it is combined with an organizational culture that enhances communication, teamwork, and innovativeness.
F
A trademark is given a 50-year registration with no renewal.
F
An entrepreneurial strategy is the set of decisions, actions, and reactions that protect the firm from new entrants.
F
An opportunity assessment plan has five sections- three major sections and two minor sections.
F
Brainstorming is an unstructured process used for generating possible ideas about a problem within a limited time frame through the spontaneous contributions of participants. The key to success is to critique ideas when they first surface.
F
Competition within an industry always has a negative effect on industry growth.
F
Entrepreneurial activities tend to immediately affect the bottom line, and hence are seldom overlooked and receive extensive funding and support.
F
Entrepreneurial endeavors consist of new business venturing, innovativèness, self-reriewal, and reactiveness.
F
For a global entrepreneur, technological environment variations are minimal since firms produce mostly standardized, relatively uniform products that can be sorted to meet industry standards.
F
Members of the distribution channel are usually a bad source of ideas for new products.
F
Nonverbal or hidden language of a culture accounts for a small percentage of all understood communication.
F
Only the pricing element in the business strategy of an international entrepreneur has the potential to be affected by the multiplicity of legal environments.
F
Results from product inventory analysis need minimal evaluation as they most likely reflect a new business opportunity.
F
Sustainable entrepreneurship provides only environmental gains for others.
F
The drawback with problem inventory analysis is that it is not effective in relating known products suggested problems.
F
The three main categories of patents are design, utility and provisional patents.
F
3. International entrepreneurial decisions are more complex than domestic decisions due to uncontrollable factors such as economic development and stage of economic development.
T
7. To minimize patent risk, an entrepreneur should seek a patent attorney who has experience their product line.
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.
T
Cooperation in order to decrease the uncertainty of intellectual property rights in global 5. The Patent and Trademark Office has established the Office of International Patent markets.
T
Copying a product and improving it may not be patent infringement.
T
Corporate entrepreneurship is most strongly reflected in entrepreneurial activities as well as in top management orientations in organizations.
T
Creativity tends to decrease with age
T
Developing spirit of entrepreneurship entrepreneurship, can lower within the existing resistance to flexibility, growth, and organization, called corporate diversification.
T
Entrepreneurial opportunities are those situations in which new goods, services, raw materials and organizing methods can be sold at greater than their production cost.
T
Entrepreneurial thinking is partly a mental process of recognizing a signal and then deciding if the signal represents an opportunity for someone.
T
Entrepreneurially managed firm structure is usually flat with multiple informal networks.
T
Entrepreneurs focus on how to minimize resources needed where as traditional firms focus on accumulating resources.
T
Entrepreneurs, because of their lack of understanding of intellectual property, ignore important steps that they should have taken to protect these assets.
T
Intellectual property is any patents, trademarks, copyrights, or trade secrets held by an entrepreneur.
T
Knowledge is the basis of the entrepreneurial resource.
T
Profits and tax benefits are common motivations for going global.
T
Role models can include family members as well as industry professionals
T
Structural similarities exist when the underlying mechanisms of the technology resemble, or match, the underlying mechanims of the market
T
The effectuation process starts with what one has and selects among possible outcomes.
T
The focus group is an excellent method for initially screening ideas and concepts.
T
The key successful entrepreneurship is to develop an idea that has a large, reachable market.
T
The knowledge needed to generate innovation cannot be easily learned from a textbook.
T
The period of time when the environment is favorable for entrepreneurs to exploit a particular new entry is called the window of opportunity.
T
Trends often provide one of the greatest opportunities for starting a new venture.
T
