Exam 9: Growing and Internationalizing the Entrepreneurial Firm

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

SMEs are the exclusive domain of entrepreneurship.

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.

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

Microfinance provides micro loans used to:

Cultural values and norms are examples of informal institutions.

Family background and educational attainment correlate with entrepreneurship.

In a service industry,_____ refers to firm A's agreement to give Firm B the rights to use A's proprietary assets for a royalty fee paid to A by B.

Model of internationalization that portrays the slow step-by step process an SME must go through to internationalize its business is referred to as the:

Entrepreneurs need to cultivate strong informal norms granting legitimacy to entrepreneurs.

Domestic transaction costs are qualitatively higher than international transaction costs.

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

The term for a global movement to help eradicate poverty by lending small sums used to start small businesses is referred to as _____.

_____ is defined as the identification and exploitation of previously unexplored opportunities.

____ is at the fundamental component required for an entrepreneurial mindset.

In entrepreneurial firms,an innovation strategy allows a potentially more sustainable basis for competitive advantage.

Which of the following nations has the lowest level of VC investment,as a percentage of GDP,in the world?

Firms with fewer than 500 employees in the United States are considered small- and medium-sized enterprises.

____ perform an important "middleman" function by linking sellers and buyers overseas.

Which of the following types of entrepreneurs are best described as people who start,grow,and sell several businesses throughout their career?