Introduction to Entrepreneurship

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  • Created by: QT
  • Created on: 11-02-14 12:04
According to Joseph Schumpeter, which process keeps the capitalist engine in motion?
Creative destruction
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What is the critical point int he product evolution process?
Iterative synthesis
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What type of entrepreneurship is predominant in developed countries?
Opportunity-based entrepreneurship
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Most entrepreneurial ventures in Germany are in the:
South
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How many start-ups are there at TUM per year?
10-12
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The best predictor of an individual's entrepreneurial action is:
Entrepreneurial intention
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What are the most important factors for entrepreneurial intentions?
Attitude towards the entrepreneurial behaviour and perceived behavioural control
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Select the answer which is NOT a negative displacement event
Attraction towards entrepreneurship
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What business did Leonard Shoen found?
U-haul
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When is a dispositional positive aspect negative for entrepreneurial intentions?
When it becomes so heightened that focus is lost
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What motives are most relevant for entrepreneurship
Achievement and autonomy
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Entrepreneurs have an increased tolerance for:
Ambiguity
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When does passion become detrimental?
When the entrepreneur feels bad while not working
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How frequently do entrepreneurs fail?
50-80% within the first 5-7 years
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Which recent event caused numerous entrepreneurial ventures to fail?
Solar cell dumping from China
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When shut a business be shut down?
Once grief can be anticipated
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Cognitive adaptability can be achieved by asking questions relating to:
Comprehension, connection, strategic , reflection
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What is bootstrapping?
Spending little money on the early stages of a venture, using the resources available
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What is a minimum viable product?
Product with fewest number of features needed to achieve a specific objective, for which users are willing to pay in some form of a scarce resource
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Fill in the gaps: evaluation of business ideas is based on ___ models and is ___
internal ... not rational
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Opportunities CANNOT be identified by
Becoming complacent
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According to Baron's opportunity identification model...
...not all patterns suggest new products or services
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The iPod is an example of a:
Incremental innovation
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Ambidexterity involves:
Exploitation and exploration
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A franchising agreement is a type of:
Licensing
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According to Sarasvathy's entrepreneurial decision making theory, entrepreneurs should calculate the...
...affordable loss
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The "Lemonade Principle" refers to:
the unexpected as a resource
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Unexpected meetings were a key to which development?
3D printing
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What are the assumptions of Barney's resource-based view of the firm?
Resource heterogeneity and resource immobility
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Resources can represent a competitive advantage if they are:
Valuable
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Vesting is an example of:
a dynamic split
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Why is entrepreneurship important for Germany?
Lack of natural resources
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Market seeking involves:
exploiting economies of scale
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Which motivation dominated during the 70s/80s?
Competitive positioning
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Which country would a firm wishing to globalise NOT enter?
A country with high subsidies for domestic producers
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According to the internationalisation theory, if a firm's production process is highly confidential it would expand into global markets by:
Setting up a subsidiary abroad
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According to eclectic theory, a country with significant ownership advantages but no internationalisation advantages should do what to sell in foreign markets?
License its products
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Which organisational archetype was used during the American expansion in the 50s/60s?
International strategy
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What is a disadvantage of the local-for-global innovation process?
Risk of duplication
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According to Greiner's model, which crisis follows growth though coordination?
Crisis of red tape
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Which strategy should a firm use that wants to enter a new market with an existing product?
Market development strategies
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What is the most common exit strategy of entrepreneurs?
Mergers and acquisitions
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What is the triple bottom line approach?
Measuring business success by economic, social and environmental goals
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Other cards in this set

Card 2

Front

What is the critical point int he product evolution process?

Back

Iterative synthesis

Card 3

Front

What type of entrepreneurship is predominant in developed countries?

Back

Preview of the front of card 3

Card 4

Front

Most entrepreneurial ventures in Germany are in the:

Back

Preview of the front of card 4

Card 5

Front

How many start-ups are there at TUM per year?

Back

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