Question 1

Describe the difference between the causal process and the effectuation process.

Accepted Answer

Effectuation is process that starts with what one has (who they are,what they know,and whom they know)and selects among possible outcomes.Basically identifying resources and THEN finding an opportunity to fit whereas the casual process starts with a desired outcome and focuses on the means (what resources are needed)to generate that outcome.

Question 2

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

Accepted Answer

A) True 
 B)False  True

Question 3

The thought experiment "Curry in a Hurry" is an example of the effectuation process.

Accepted Answer

A) True 
 B)False  True

Question 4

Entrepreneurial opportunities are those situations in which new goods,services,raw materials and organizing methods can be sold at greater than their production cost.

Accepted Answer

A) True 
 B)False

Question 5

Entrepreneurs have stronger intentions to act when taking action is perceived to be impossible and risky.

Accepted Answer

A) True 
 B)False

Question 6

All of the following statements are true of sustainable entrepreneurship except:

Accepted Answer

A)  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)  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.

Question 7

Research indicates that male entrepreneurs tend to start their first significant venture in their middle 30s,while women entrepreneurs tend to do so in their early 30s.

Accepted Answer

A) True 
 B)False

Question 8

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

Accepted Answer

A) True 
 B)False

Question 9

Role models can include family members as well as industry professionals.

Accepted Answer

A) True 
 B)False

Question 10

The effectuation process starts with what one has and selects among possible outcomes.

Accepted Answer

A) True 
 B)False

Question 11

The McMullen-Shepherd Model helps identify the common traits of successful entrepreneurs.

Accepted Answer

A) True 
 B)False

Question 12

Which group in a professional network helps keep a new venture competitive

Accepted Answer

A)  Clients or buyers 
B)  Mentors 
C)  Trade associations 
D)  Suppliers 
A)  Clients or buyers 
B)  Mentors 
C)  Trade associations 
D)  Suppliers

Question 13

For entrepreneurial actions that preserve nature to be considered sustainable entrepreneurship,they must also develop gains for the entrepreneur,others,and/or society.

Accepted Answer

A) True 
 B)False

Question 14

The casual process of thinking starts with what one has and selects among possible outcomes.

Accepted Answer

A) True 
 B)False

Question 15

Previous start-up experience is a good predictor of starting subsequent businesses.

Accepted Answer

A) True 
 B)False

Question 16

Individuals have stronger intentions to act when taking action is perceived to be ________ and desirable.

Accepted Answer

A)  elusive 
B)  feasible 
C)  flexible 
D)  risky 
A)  elusive 
B)  feasible 
C)  flexible 
D)  risky

Question 17

On the education background,entrepreneurs:

Accepted Answer

A)  are less educated than the general population. 
B)  cite an educational need in the areas of finance, strategic planning, marketing, and management. 
C)  who lack a formal education, fail to create new businesses and exploit discovered opportunities. 
D)  cite formal education to be indispensible in starting a new business. 
A)  are less educated than the general population. 
B)  cite an educational need in the areas of finance, strategic planning, marketing, and management. 
C)  who lack a formal education, fail to create new businesses and exploit discovered opportunities. 
D)  cite formal education to be indispensible in starting a new business.

Question 18

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

Accepted Answer

A) True 
 B)False

Question 19

Entrepreneurial action can be defined as those situations in which new goods,services,raw materials and organizing methods can be sold at greater than their production cost.

Accepted Answer

A) True 
 B)False

Question 20

Identify and define the four types of questions/tasks related to increasing cognitive ability.

Accepted Answer

1.Comprehension questions are designed t

Describe the difference between the causal process and the effectuation process.

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

The thought experiment "Curry in a Hurry" is an example of the effectuation process.

Entrepreneurial opportunities are those situations in which new goods,services,raw materials and organizing methods can be sold at greater than their production cost.

Entrepreneurs have stronger intentions to act when taking action is perceived to be impossible and risky.

All of the following statements are true of sustainable entrepreneurship except:

Research indicates that male entrepreneurs tend to start their first significant venture in their middle 30s,while women entrepreneurs tend to do so in their early 30s.

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

Role models can include family members as well as industry professionals.

The effectuation process starts with what one has and selects among possible outcomes.

The McMullen-Shepherd Model helps identify the common traits of successful entrepreneurs.

Which group in a professional network helps keep a new venture competitive

For entrepreneurial actions that preserve nature to be considered sustainable entrepreneurship,they must also develop gains for the entrepreneur,others,and/or society.

The casual process of thinking starts with what one has and selects among possible outcomes.

Previous start-up experience is a good predictor of starting subsequent businesses.

Individuals have stronger intentions to act when taking action is perceived to be ________ and desirable.

On the education background,entrepreneurs:

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

Entrepreneurial action can be defined as those situations in which new goods,services,raw materials and organizing methods can be sold at greater than their production cost.

Identify and define the four types of questions/tasks related to increasing cognitive ability.

Corporate Entrepreneurship

Generating and Exploiting New Entries

Creativity and the Business Idea

Identifying and Analyzing Domestic and International Opportunities

Protecting the Idea and Other Legal Issues for the Entrepreneur

The Business Plan: Creating and Starting the Venture

The Marketing Plan

The Organizational Plan

The Financial Plan

Sources of Capital

Informal Risk Capital, Venture Capital, and Going Public

Strategies for Growth and Managing the Implication of Growth

Accessing Resources for Growth From External Sources

Succession Planning and Strategies for Harvesting and Ending the Venture

Filters

Exam 1: The Entrepreneurial Mind-Set

Describe the difference between the causal process and the effectuation process.

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

The thought experiment "Curry in a Hurry" is an example of the effectuation process.

Entrepreneurial opportunities are those situations in which new goods,services,raw materials and organizing methods can be sold at greater than their production cost.

Entrepreneurs have stronger intentions to act when taking action is perceived to be impossible and risky.

All of the following statements are true of sustainable entrepreneurship except:

Research indicates that male entrepreneurs tend to start their first significant venture in their middle 30s,while women entrepreneurs tend to do so in their early 30s.

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

Role models can include family members as well as industry professionals.

The effectuation process starts with what one has and selects among possible outcomes.

The McMullen-Shepherd Model helps identify the common traits of successful entrepreneurs.

Which group in a professional network helps keep a new venture competitive

For entrepreneurial actions that preserve nature to be considered sustainable entrepreneurship,they must also develop gains for the entrepreneur,others,and/or society.

The casual process of thinking starts with what one has and selects among possible outcomes.

Previous start-up experience is a good predictor of starting subsequent businesses.

Individuals have stronger intentions to act when taking action is perceived to be ________ and desirable.

On the education background,entrepreneurs:

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

Entrepreneurial action can be defined as those situations in which new goods,services,raw materials and organizing methods can be sold at greater than their production cost.

Identify and define the four types of questions/tasks related to increasing cognitive ability.

Corporate Entrepreneurship

Generating and Exploiting New Entries

Creativity and the Business Idea

Identifying and Analyzing Domestic and International Opportunities

Protecting the Idea and Other Legal Issues for the Entrepreneur

The Business Plan: Creating and Starting the Venture

The Marketing Plan

The Organizational Plan

The Financial Plan

Sources of Capital

Informal Risk Capital, Venture Capital, and Going Public

Strategies for Growth and Managing the Implication of Growth

Accessing Resources for Growth From External Sources

Succession Planning and Strategies for Harvesting and Ending the Venture

Filters