Exam 9: Growing and Internationalizing the Entrepreneurial Firm

Founders and/or owners of new businesses or managers of existing firms who identify and exploit new opportunities are called _____.

Whether entrepreneurship is facilitated or retarded significantly depends on formal institutions governing how entrepreneurs start up new firms.

Both formal and informal institutional constraints,as rules of the game,affect entrepreneurship.

In the European Union,small and medium-sized enterprises (SMEs) are defined as firms with less than _____.

International new ventures are also referred to as _____.

Indirect export is one of the strategies used by entrepreneurial SMEs to internationalize without leaving their home country.

Which of the following is a part of the VRIO framework? 

Which of the following supports the notion that most new ventures in China are financed by friends and family? 

Which of the following is one of the methods by which entrepreneurial firms internationalize by staying in domestic markets? 

Which of the following is a popular way to enter into international service markets? 

In the United States,small- and medium-sized enterprises (SMEs) are defined as firms with less than _____.

Microfinance emerged in response to the lack of financing for entrepreneurial opportunities in many developing countries.

Franchising enables SMEs to enter foreign markets.

According to the resource-based view,the entrepreneurial resources must have inimitable resources to be successful.

A ____ is a financial contract that states that the importer's bank will pay a specific sum of money to the exporter upon delivery of the merchandise.

Explain the institution-based views in light of their effect on entrepreneurial success.

Domestic transaction costs are qualitatively higher than international transaction costs.

SMEs are the exclusive domain of entrepreneurship.

Compared to large firms,innovators at SMEs have limited ability to personally profit from their innovations because property rights usually belong to the corporation.

____ is the sale of products made by entrepreneurial firms in their home country to customers in other countries.