Entrepreneurial Problem Solving
Joint venture
A ___________ __________ is a company owned by two or more organizations
True
A code of conduct is a statement of ethical practices or guidelines to which an enterprise adheres. T/F
illegal and ethical decision
A decision to sell pharmaceuticals that have not been cleared with the Federal Drug Administration is an example of a
legal and unethical decision
A decision to sell toys that pass minimum safety standards but can often result in minor accidents to children is an example of a
A desire to dramatically increase profitability
All of the following are reasons for the growth of corporate entrepreneurship except:
the speed with which information flows across borders
Among the advantages for global entrepreneurs of diaspora networks is..
low-profit, limited liability companies
An L3C is an 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 is called..
Commitment, determination, and perseverance
Characteristics often attributed to the entrepreneur include:
True
Clever bootlegging of ideas refers to secretly working on new ideas on company time as well as on personal time. T/F
Entrepreneurial thinking that is diffused throughout the company
Collective entrepreneurship, as a concept, refers to:
False
Commitment, determination, and perseverance are the only characteristics one needs to become a successful entrepreneur. T/F
True
During the past ten years, new business incorporation's averaged nearly 600,000 per year. T/F
only with economically sustainable development
Ecopreneurs are concerned...
False
Ecopreneurship is a combination of ecologically and economically sustainable development. T/F
Eliminating the concept of "price"
Key elements in plans to create a sustainable future are likely to include which of the following?
True
Many ways of developing corporate entrepreneurship exist. Decide if the following action would help develop corporate entrepreneurship. (Allow bootlegging of ideas.) T/F
True
Many ways of developing corporate entrepreneurship exist. Decide if the following action would help develop corporate entrepreneurship. (Encourage a bias for action). T/F
False
Many ways of developing corporate entrepreneurship exist. Decide if the following action would help develop corporate entrepreneurship. (Encourage structured activity)T/F
False
Many ways of developing corporate entrepreneurship exist. Decide if the following action would help develop corporate entrepreneurship. (Make extensive use of formal meetings). T/F
foreign reclamation
Methods for going international include all of the following except:
Ethical and illegal
Most entrepreneurial actions are ethical and legal. Sometimes, however, they are unethical and/or illegal. Choose which category the following action falls into: 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
Unethical and legal
Most entrepreneurial actions are ethical and legal. Sometimes, however, they are unethical and/or illegal. Choose which category the following action falls into: Publishing a newspaper story that wrongly implies but does not openly state that the governor(a political opponent of the newspaper) is deliberately withholding state funds for education in the newspapers effort to win nomination support for its candidate from the state teachers union
unique markets
Mountain gab strategies refer to:
With every new venture launched, new and unintended opportunities arise
The "corridor principle" is best described by which of the following statements?
False
The "dark side" of entrepreneurship refers to the stress that entrepreneurs experience
the individual's personal entrepreneurial mind-set and an opportunity
The decision to behave entrepreneurially is the result of the interaction of:
economic, cultural, and political
The displacement school of thought can be divided into which three groups?
conduct research
The first step taken to go international is ________ _______-
Top management support, time, resources, rewards, and organizational boundaries
Which of the following are specific factors identified by researchers, that organizations can concrete on in structuring an entrepreneurial climate.
An increase inn 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?
Entrepreneurs today are considered heroes
Which of the following is not a common myth about entrepreneurs?
frustration
Which of the following is not a trait of successful entrepreneurs
knowing when to take a vacation
Which of the following is not characteristic of the "dark side" of the entrepreneurship?
Entrepreneurship is the ability to create and build a vision from practically nothing
Which of the following statement is true:
Social entrepreneurship is limited to the world of not-for-profit corporations
Which of the following statements about social entrepreneurship is not true?
OPIC
______ can cover three types of risk: currency inconvertibility insurance, expropriation insurance, and political environment insurance
Ethical and illegal
Most entrepreneurial actions are ethical and legal. Sometimes, however, they are unethical and/or illegal. Choose with category the following action falls into: 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
take characteristics that usually lead to success to the extreme
The entrepreneurial ego can cause the entrepreneur to:
Sharing the vision of innovation
The first step in planning a strategy of entrepreneurship for enterprise is:
A business with at least 20 percent growth every year
Which of the following statements best describes a "gazelle?"
radical innovation
Which of the following terms refers the inaugural breakthroughs launched from experimentation and determined vision?
Incremental innovation
Which of the following terms refers to the systematic evolution of a product or service into newer or larger markets?
uniform compensation
Which of the following would not be considered as encouraging to an entrepreneurial environment?
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
True
One reason that corporate entrepreneurship has become popular is because it allows corporations to tap the innovative talents of the personnel. T/F
True
The first step in planning a strategy of corporate entrepreneurship is sharing the vision of innovation that executives wish to achieve. T/F
True
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. T/F
Environmental, financial, and displacement
The macro view can be broken down into which three areas?
True
The macro view of entrepreneurship includes external processes that are sometimes beyond the control of the entrepreneur. T/F
External local of control
The macro view of entrepreneurship presents factos exhibiting a strong:
venture opportunity theory, entrepreneurial, strategic
The micro view is divided into which three theories?
False
A loss orientation toward grief recovery in dealing with failure can sometimes lesson negative emotional reactions
False
According to the Model of Entrepreneurship Motivation, the entrepreneurs expectations are not compared with the actual or perceived outcome of the firm. T/F
False
Many ways of developing corporate entrepreneurship exist. Decide if the following action would help develop corporate entrepreneurship.(discourage joint projects and venture among different departments.)
True
Many ways of developing corporate entrepreneurship exist. Decide if the following action would help develop corporate entrepreneurship.(provide feedback on performance). T/F
False
Many ways of developing corporate entrepreneurship exist. Decide if the following action would help develop corporate entrepreneurship.(set implicit goals) T/F
Encourage innovation
The major thrust of corporate entrepreneurship is to
The corridor principle
The statement, "with every new venture launched, new and unintended opportunities often arise", would be associated with:
True
A "gazelle" is a business establishment with at least 20 percent sales growth every year for five years. T/F
code of conduct
A __________ is a statement of ethical practices or guidelines to which an enterprise adheres.
are driven by intense commitment and perseverance
Entrepreneurs...
False
Ethics represents a set of principles prescribing a behavioral code that does not include moral duty and obligations. T/F
Potential; free choice
Every person has the _____and_____ to pursue a career as an entrepreneur
False
The word entrepreneur is derived from the Spanish word entreprendre, meaning "to undertake." T/F
True
There is a certain psychic risk involved with entrepreneurship. T/F
A lack of research about entrepreneurship
Throughout the years, many myths have arisen about entrepreneurship as a result of?
career, family, psychic
Areas of risk to the entrepreneur include:
global competition
Bottom-line measured of economic performance include all of the following except:
having a chronic sense of time urgency
Entrepreneurial stress can be cause by having a type A personality which can be defined as:
False
Entrepreneurs always start their business at a young age. T/F
Unemployment
Entrepreneurs and gazelles have been credited with making disproportionate contributions to all but which of the following:
True
Entrepreneurs are aggressive catalysts for change within the marketplace. T/F
False
Entrepreneurs are born not made. T/F
False
Entrepreneurs are high risk takers. T/F
support for minority-own businesses
Examples of social enterprise obligations to the environment include all of the following except
True
Firms do not need to alter management techniques to encourage corporate entrepreneurship since it tends to occur naturally. T/F
Direct foreign investment
Foreign governments sometimes grant incentives for _____ ______ ______
False
Gazelles are almost always high tech. T/F
the discrepancy between the entrepreneurs expectations and the ability to meet demands
Generally, entrepreneurial stress is due to:
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:
True
In the model of sustained corporate entrepreneurship discussed in the text, a transformational trigger can be internal or external to the company. T/F
True
Individuals may avoid corporate entrepreneurial behavior due to the impact of traditional management techniques. T/F
international alliances
Informal, formal, or joint collaborations are_____
False
International alliances rarely require the exchange of proprietary knowledge. T/F
WTO
Is the umbrella organization governing the international trading system
True
Licensing agreements can involve patents, trademarks, and technical know-how. T/F
Social obligation
One researcher established a framework that classified social action of corporations into distinct categories that included social responsiveness and _____________?
True
Purpose, accountability, and transparency are characteristics associated with socially sustainable enterprises. T/F
diaspora networks
Relationships among ethnic groups that share cultural and social norms are_______ _______
True
Researchers have identified specific factors that organizations can concrete on in helping individuals develop more entrepreneurial behavior. T/F
bootlegging
Secretly working on new ideas on company time as well as on personal time is referred to as:
False
Skunk works are project groups that work within the traditional lines of authority. T/F
True
Social entrepreneurs are known to combine resources to exploit opportunities to create social value. T/F
True
Social obligation, social responsibility, and social responsiveness are all ways firms view their interactions with society. T/F
False
Social responsibility consists of those obligations that society has to businesses. T/F
False
Successful global start-ups, or entrepreneurial businesses that are "born global," surprisingly often lack internationally experienced management. T/F
False
Systematic evolution of a product or service into newer or larger markets is referred to as radical innovation. T/F
False
The "corridor principle" states that entrepreneurs often get stuck on one idea. T/F
a social responsiveness
The most pro-active position for a corporation to take in regard to social responsibility would be termed..
Model the various factors that characterize the entrepreneurial process
The process approach to entrepreneurship seeks to:
False
The resources of the organization are irrelevant to the ability of the corporate entrepreneur to implement an idea. T/F
developing and encouraging innovation
The second step in planning a strategy of entrepreneurship for the enterprise is:
True
The three P's the triple bottom line are people, planet, and profits. T/F
False
The triple bottom line is an accounting framework that focuses on optimizing short-term financial performance. T/F
To undertake
The word entrepreneur is derived from the French entreprendre, which is translated as:
False
Today's entrepreneurs are faced with few ethical decisions because the legal system imposes greater penalties on wrongdoers. T/F
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:
social impersonator
Which of the following designations is not synonymous with social entrepreneur?
psychic risk
Which of the following may be the greatest risk to the well-being of the entrepreneur?
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.
NAFTA
________ is an international agreement among Canada, Mexico, and the United States that eliminates trade barriers
Political risk
___________ ____ includes unstable government, war, regionalism, and ideological differences
actions that further some social good beyond the interests of the firm
corporate social responsibility
conducting research
the first of five steps for entering the international marketplace is..
True
Many ways of developing corporate entrepreneurship exist. Decide if the following action would help develop corporate entrepreneurship. (encourage brainstorming). T/F
False
Many ways of developing corporate entrepreneurship exist. Decide if the following action would help develop corporate entrepreneurship. (fire those who make mistakes as a way of creating a good example for others)
False
Many ways of developing corporate entrepreneurship exist. Decide if the following action would help develop corporate entrepreneurship.(develop a well-defined hierarchical structure, and stick to it). T/F
Unethical and legal
Most entrepreneurial actions are ethical and legal. Sometimes, however, they are unethical and/or illegal. Choose which category the following action falls into: 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
Ethical and legal
Most entrepreneurial actions are ethical and legal. Sometimes, however, they are unethical and/or illegal. Choose which category the following action falls into: Manufacturing a new fuel additive that will increase gas mileage by 10 percent
Unethical and illegal
Most entrepreneurial actions are ethical and legal. Sometimes, however, they are unethical and/or illegal. Choose which category the following action falls into: Offering a member of the city council $100,000 to vote to give the entrepreneur the local cable television franchise
Ethical and legal
Most entrepreneurial actions are ethical and legal. Sometimes, however, they are unethical and/or illegal. Choose which category the following action falls into: Producing a vaccine, already approved by the Food and Drug Administration, that will retard the growth of bone cancer
Unethical and illegal
Most entrepreneurial actions are ethical and legal. Sometimes, however, they are unethical and/or illegal. choose which category the following action falls into: Obtaining inside information from another brokerage that results in the entrepreneur netting more that $2 million
