Entrepreneurship

Q: Why does restoration-orientation have adverse effects on an individual's health? A.Since it involves suppression by mental effort. B.Since it prescribes physical diversions like a hobby. C.Since it involves regular physical exertion via exercise. D.Since it involves mental catharsis to bring out the grief.

Q: Why is loss-orientation physically and mentally exhausting? A.Since it involves psychological counseling. B.Since it involves confrontation. C.Since it advocates change of lifestyle. D.Since it takes a long time to recover from grief.

Q: In the loss-orientation process of grief recovery, when are painful memories likely to dominate most? A.In the early phase of grief. B.In the medial stage of grief. C.In the later stage of grief. D.Each time a related negative thought comes to mind.

Q: When would an entrepreneur be pronounced to have recovered from the grief of a lost business? A.On the availability of equally challenging entrepreneurial opportunities. B.Upon a simultaneous engagement in an analysis of the failed business. C.On having evaluated and absorbed the lessons learnt from the failed business. D.Thoughts about the events surrounding, and leading up to the loss of the business, no longer generate a negative emotional response.

Q: Which of the following is true? A.Independent, venture-capital-based start-ups by entrepreneurs tend to outperform corporate start-ups significantly. B.New ventures started within a corporation performed better than those started independently by entrepreneurs. C.Independent entrepreneurs find difficulty in maintaining a long-term commitment. D.Corporate ventures become profitable twice as fast as independent ventures.

Q: When establishing corporate entrepreneurship in an organization rewards should: A.be tied to the department in which the idea originated B.be tied to the parent company's stock performance C.be tied to the performance of the entrepreneurial unit created from the idea D.not be changed from whatever current system is being used so that risk is encouraged

Q: Which of the following would NOT occur in the second stage of establishing corporate entrepreneurship in an organization? A.Ideas that top management is interested in supporting are identified. B.Identify an evaluation system for involved employees. C.The amount of risk money available is specified. D.Overall program expectations and target results of each corporate venture are established.

Q: A sufficient time for top management to be committed to corporate entrepreneurship is: A.at least one year. B.at least two years. C.at least three years. D.at least ten years.

Q: The first step in establishing corporate entrepreneurship in an organization is: A.finding mid level managers to champion ideas B.developing ways to get closer to customers C.learn to be more productive with fewer resources D.securing commitment from top management

Q: Which is NOT a leadership characteristic of a corporate entrepreneur according to the text? A.Flexibility and vision B.Persistence C.Encourages teamwork D.Encourages colleagues to follow hierarchy

Q: Which of the following is true about corporate entrepreneurship? A.Equity in a new venture should not be used as a reward due to its uncertain value B.A company must be willing to invest money without a guarantee of a return in the short term C.Teams should be segmented by department D.Top management should not be involved in the process

Q: All these are characteristics of an entrepreneurial environment except: A.there are short term horizons. B.new ideas are encouraged. C.the organization operates on frontiers of technology. D.it uses a multidiscipline teamwork approach.

Q: Entrepreneurial culture and growth orientation consists of all of the following except: A.encouraging employees to generate ideas. B.focusing on opportunities. C.the desire to grow at a slow and controlled pace. D.being creative.

Q: Having an entrepreneurial orientation towards the control of resources means: A.that one focuses on accessing others' resources. B.that one focuses on purchasing resources. C.that one has a belief that resources are unlimited and therefore easy to obtain. D.that one focuses on using a hierarchy management structure in allocating resources.

Q: In regards to the differences between the entrepreneurial and administrative focuses which of the following is correct? A.Entrepreneurs focus on slow steady growth and managers focus on rapid growth B.Entrepreneurs rent or sporadically use resources; managers like to own resources C.Entrepreneurs are driven by controlled resources; managers by opportunity D.Entrepreneurs tend to use a hierarchical management structure; managers use a more fluid, flat approach

Q: New product development falls under which of the four major components of corporate entrepreneurship? A.New business venturing B.Self-renewal C.Innovativeness D.Proactiveness

Q: _____ includes initiative and risk taking, as well as competitive aggressiveness and boldness. A.New business venturing B.Self-renewal C.Innovativeness D.Proactiveness

Q: Corporate entrepreneurship is best described as: A.the hiring of former Entrepreneurs. B.entrepreneurial action within an organization. C.the process of buying acquiring entrepreneurial firms. D.the process of hiring consultants to teach a firm how to be more creative.

Q: In 1994 Robert Mondavi came up with: A.a capsule-free, flange-top bottle design. B.a new flavor of wine cooler that revolutionized the industry. C.a new brand of liquor with a unique marketing campaign. D.a way to vacuum cork bottles.

Q: Robert Mondavi came up with all of the following process innovations except: A.steel fermentation tanks B.vacuum corking of bottles C.labels that indicated when the wine was cold D.aging wines in new French oak barrels

Q: An entrepreneur's recovery from grief is detrimental to society.

Q: An entrepreneur with loss-orientation would talk about the business-failure with a close friend or relative.

Q: Firms that are more entrepreneurial are likely to have fewer failures than those firms that are more traditionally managed.

Q: Generally, independent, venture-capital-based start-ups by entrepreneurs tend to outperform corporate start-ups significantly.

Q: One study found that new ventures started within a corporation performed better than those started independently by entrepreneurs.

Q: Corporate ventures are totally independent units, hence the equity portion of the compensation is particularly difficult to handle.

Q: Entrepreneurial activities tend to immediately affect the bottom line, and hence are seldom overlooked and receive extensive funding and support.

Q: An organization that wants to become more entrepreneurial must learn to be more productive with fewer resources.

Q: For an organization with a traditional environment, it is best to facilitate an external process to establish an entrepreneurial environment.

Q: The corporate entrepreneur to have the ability to encourage teamwork and use a multidisciplined approach, which violates organizational practices and structures taught in most business schools.

Q: It is important for an entrepreneur to understand all aspects of the environment. Part of this ability is reflected in the individual's level of creativity, which generally increases with age and education in most individuals.

Q: In corporate entrepreneurship, trial and error are encouraged.

Q: In an encouraging climate for corporate entrepreneurship, rewards should be based on the attainment of established performance goals.

Q: Most managers in a corporation are capable of being successful corporate entrepreneurs with the correct training.

Q: In creating a culture for corporate entrepreneurship leadership is important.

Q: In encouraging a culture for corporate entrepreneurship, using older, proven, technology is recommended in order to increase stability in the organization.

Q: The typical corporate culture has a climate and a reward system that favors activist decision making.

Q: Traditionally managed firms typically punish failure.

Q: Entrepreneurs focus on how to minimize resources needed whereas traditional firms focus on accumulating resources.

Q: Entrepreneurially run firms are driven by controlled resources whereas traditionally managed firms are driven by perception of opportunity.

Q: Entrepreneurially managed firm structure is usually flat with multiple informal networks.

Q: Traditionally managed firms commitment to opportunity is revolutionary with a long duration.

Q: Corporate venturing consists of creating something new of value either by redefining the company's current products or services, developing new markets, or forming more formally autonomous or semiautonomous units or firms.

Q: Self-renewal includes the re-definition of the business concept, reorganization, and the introduction of systemwide changes to increase innovation.

Q: Corporate entrepreneurship is most strongly reflected in entrepreneurial activities as well as in top management orientations in organizations.

Q: Entrepreneurial endeavors consist of new business venturing, innovativeness, self-renewal, and reactiveness.

Q: Robert Mondavi Winery was the first Californian to produce and market premium wines that were expected to compete with European wines.

Q: Describe the difference between a moral and professional support network and give examples of who might fit into each network. Who do entrepreneurs typically cite as their biggest supporters?

Q: Identify and define the 4 types of questions/tasks related to increasing cognitive ability.

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

Q: Define superficial similarities and structural similarities. Which was noted as the more challenging for entrepreneurs?

Q: Explain the McMullen-Shepherd Model.

Q: Which group in a professional network helps keep a new venture competitive? A.Clients or buyers B.Mentors C.Trade associations D.Suppliers

Q: Within the moral-support network, most entrepreneurs indicate that their _____ are their biggest supporters. A.mentors B.friends C.parents D.spouses

Q: The moral support network is different from the professional support network in that: A.a professional support network includes finding a mentor. B.moral support is less important than professional support. C.only the "cheering squad" provides moral support. D.a moral support network comprises only of personal contacts.

Q: Density, in regards to a social network, refers to: A.the extensiveness of ties between two individuals. B.the total number of individuals in the network. C.the distance of connection between the entrepreneur and contact. D.the fact that most networks are informal and not well organized.

Q: Motivation to launch a new venture can arise from all of the following except: A.lack of prior experience. B.boredom. C.a lack of challenge. D.frustration.

Q: On the education background, entrepreneurs: 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.

Q: Which among the following aspects affects an entrepreneur's perception of feasibility? A.Locus of control B.Learning style C.Perceived desirability D.Self-efficacy

Q: Individuals have stronger intentions to act when taking action is perceived to be _____ and desirable. A.elusive B.feasible C.flexible D.risky

Q: __________ are designed to stimulate thought about entrepreneurs' understanding and feelings as they progress through the entrepreneurial process. A.Strategic questions B.Connection tasks C.Reflection tasks D.Comprehension questions

Q: An entrepreneur considering if what they are doing makes sense is an example of: A.A strategic question B.A connection task C.A reflection task D.A comprehension question

Q: Questions designed to increase an entrepreneurs' understanding of the nature of the environment are known as: A.Strategic questions B.Connection tasks C.Reflection tasks D.Comprehension questions

Q: Which of the following is NOT a stage in Kolter's procedure in bringing a product/service to market? A.Select target market segments B.Analyze long run opportunities in the market C.Design market strategies D.File for patent protection

Q: The causal process of thinking: A.starts with a desired outcome and focuses on the possible means to generate that outcome. B.starts with what one has and selects among possible outcomes. C.involves bricolage. D.starts with brainstorming by meeting with industry professionals.

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