Question 1

Experts in corporate sustainability help a firm lower its energy consumption and minimize its negative impact on the environment.

Accepted Answer

A) True 
 B)False  True

Question 2

Write a short note on entrepreneurs.

Accepted Answer

The role of entrepreneurs is critical not only to the prosperity of the global economy but also, increasingly, for the creation of needed innovations. Some people have the mistaken perception that entrepreneurs are confined to niches in domestic economies, with the real economic impact coming from large multinational companies that produce a majority of the world's wealth and products. The reality is much more complicated in that multinational enterprises produce a little more than half of the world's output. That leaves room for family business and entrepreneurial firms to generate substantial economic value. Moreover, evidence suggests that entrepreneurial firms excel at creating new jobs. Entrepreneurs have demonstrated their importance creating important new goods and services that have aided in the global economy's development. Interestingly, though, most classical economics does not concern itself with entrepreneurs. Many economists see entrepreneurs as a nonessential issue to business. In this view, entrepreneurs and entrepreneurial firms will develop if the economy and its institutions are strong enough; entrepreneurship happens naturally as a result of institutions and is not an economic factor to focus on. Some economists now state that entrepreneurs are observable and valuable, and can be encouraged by society's institutions. Entrepreneurship is more broadly conceptualized by management scholars as value-creation activities and the seizing of economic opportunities and efficiencies. As opposed to the occupational definition of entrepreneurship that refers to business owners only, this is called the behavioral notion of entrepreneurship. Entrepreneurs in this behavioral sense do not necessarily need to be business owners-they can create significant value within a large organization, including government agencies and nonprofits. A new focus has arisen at the crossroads of behavioral entrepreneurship and the dynamic perspective of occupational entrepreneurship, one that considers venture creation and innovation to be the hallmark of entrepreneurship. The entrepreneur, therefore, is someone who specializes in making judgmental decisions about the coordination and deployment of scarce resources. The term emphasizes that the entrepreneur is an individual and that entrepreneurial decisions are not simply a routine application of standard rules and production functions. Entrepreneurship's importance to the growth of firms and economies is well expressed in recent work on this topic.

Question 3

Which of the following is an example of a tangible asset?

Accepted Answer

A)   Patent
B)   Equipment
C)   Copyright
D)   License B

Question 4

Which of the following statements about the second stage of development entrepreneurship is true?

Accepted Answer

A)   The economy remains focused on small-scale household production.
B)   In this stage, entrepreneurial activity does not decline.
C)   This stage is marked by decreasing rates of entrepreneurship, and self-employment actually declines.
D)   Sole proprietorships probably account for most farms and small manufacturing and service firms in this stage.

Question 5

What are the goals set by the United Nations for eliminating extreme poverty?

Accepted Answer

The answer of What are the goals set by the...

Question 6

Businesses that are not diversified will only have to make choices about a functional-level strategy because they are in only one business.

Accepted Answer

A) True 
 B)False

Question 7

All of the following are observations made by Joseph Schumpeter EXCEPT:

Accepted Answer

A)   entrepreneurs happens naturally as a result of institutions.
B)   entrepreneurs are the bearers (not creators)  of economic change and growth.
C)   entrepreneurs help to bring new inventions and innovations to the market.
D)   entrepreneurs are often not the prime movers behind many innovations.

Question 8

What is the occupational definition of entrepreneurship?

Accepted Answer

A)   The seizing of economic opportunities and efficiencies.
B)   Happening naturally as a result of institutions.
C)   Owning a business.
D)   Value-creation activities only.

Question 9

Typically, an entrepreneurial firm that is international from its beginning will pursue a focus-differentiation business strategy.

Accepted Answer

A) True 
 B)False

Question 10

Benchmarking involves comparing a firm's activities against the best in the industry.

Accepted Answer

A) True 
 B)False

Question 11

Research and development, basic science, and university-company partnerships are all part of:

Accepted Answer

A)   turnkey innovation.
B)   upstream innovation.
C)   downstream innovation.
D)   lateral innovation.

Question 12

Which of the following statements about the behavioral notion of entrepreneurship is true?

Accepted Answer

A)   Entrepreneurs in the behavioral sense necessarily need to be business owners.
B)   Entrepreneurs can create significant value within a large organization, including government agencies and nonprofits.
C)   Entrepreneurs are often not the prime movers behind many innovations, at least not in any systematic way.
D)   Entrepreneurial decisions are a routine application of standard rules and production functions.

Question 13

Corporate entrepreneurship is a concept that has not been widely supported.

Accepted Answer

A) True 
 B)False

Question 14

For potential entrepreneurs, the decision about starting a business is influenced by additional characteristics within the existing business environment. These are referred to as:

Accepted Answer

A)   necessity entrepreneurship facets.
B)   entrepreneurial framework conditions.
C)   behavioral notions of entrepreneurship.
D)   dynamic perspectives of occupational entrepreneurship.

Question 15

The United States has experienced a largely uninterrupted economic expansion from the 1960s until recently.

Accepted Answer

A) True 
 B)False

Question 16

For potential entrepreneurs, the decision about starting a business is influenced by additional characteristics within the existing business environment, which are referred to as entrepreneurial framework conditions.

Accepted Answer

A) True 
 B)False

Question 17

According to the text, entrepreneurial firms that are started as international firms are:

Accepted Answer

A)   born globals.
B)   innate exporters.
C)   high technology start-ups.
D)   leapfrogging.

Question 18

Entrepreneurs are confined to niches in domestic economies, with the real economic impact coming from large multinational companies that produce a majority of the world's wealth and products.

Accepted Answer

A) True 
 B)False

Question 19

The bottom of the pyramid is characterized by low margins, low unit sales, and low inventory turnover.

Accepted Answer

A) True 
 B)False

Question 20

Firms that are innovative in packaging products, building brands, and developing new markets are generating downstream innovation.

Accepted Answer

A) True 
 B)False

Exam 14: The Future of International Management

Experts in corporate sustainability help a firm lower its energy consumption and minimize its negative impact on the environment.

Write a short note on entrepreneurs.

Which of the following is an example of a tangible asset?

Which of the following statements about the second stage of development entrepreneurship is true?

What are the goals set by the United Nations for eliminating extreme poverty?

Businesses that are not diversified will only have to make choices about a functional-level strategy because they are in only one business.

All of the following are observations made by Joseph Schumpeter EXCEPT:

What is the occupational definition of entrepreneurship?

Typically, an entrepreneurial firm that is international from its beginning will pursue a focus-differentiation business strategy.

Benchmarking involves comparing a firm's activities against the best in the industry.

Research and development, basic science, and university-company partnerships are all part of:

Which of the following statements about the behavioral notion of entrepreneurship is true?

Corporate entrepreneurship is a concept that has not been widely supported.

For potential entrepreneurs, the decision about starting a business is influenced by additional characteristics within the existing business environment. These are referred to as:

The United States has experienced a largely uninterrupted economic expansion from the 1960s until recently.

For potential entrepreneurs, the decision about starting a business is influenced by additional characteristics within the existing business environment, which are referred to as entrepreneurial framework conditions.

According to the text, entrepreneurial firms that are started as international firms are:

Entrepreneurs are confined to niches in domestic economies, with the real economic impact coming from large multinational companies that produce a majority of the world's wealth and products.

The bottom of the pyramid is characterized by low margins, low unit sales, and low inventory turnover.

Firms that are innovative in packaging products, building brands, and developing new markets are generating downstream innovation.