Individuals have stronger intentions to act when taking action is perceived to be

We’ve updated our privacy policy so that we are compliant with changing global privacy regulations and to provide you with insight into the limited ways in which we use your data.

You can read the details below. By accepting, you agree to the updated privacy policy.

Thank you!

View updated privacy policy

We've encountered a problem, please try again.

Chapter 01 - Entrepreneurship and the Entrepreneurial Mind-SetCh 1 practice test1.Entrepreneurs have stronger intentions to act when taking action is perceived to be impossible and risky. False2.Individuals have stronger intentions to act when taking action is perceived to be _____ and desirable. elusivefeasibleflexiblerisky3. Asking "How is this problem similar to problems I've already solved"? is an example of a connection task. True4.Which among the following aspects affects an entrepreneur's perception of feasibility? 5. The McMullen-Shepherd Model helps identify the common traits of successful entrepreneurs. False6.Dissatisfaction with various aspects of one's job often motivates the launching of a new venture. True7.Which of the following is NOT a stage in Kolter's procedure in bringing a product/service to market?8. Within the moral-support network, most entrepreneurs indicate that their _____ are their biggest supporters. 9. Comprehension questions are designed to stimulate entrepreneurs to think about their own understanding. FALSE10.Entrepreneurial Opportunities are defined as:

Chapter 01 - Entrepreneurship and the Entrepreneurial Mind-Set11. Previous start-up experience is a good predictor of starting subsequent businesses. TRUE12. Density, in regards to a social network, refers to:13. Structural similarities exist when the underlying mechanisms of the technology resemble, ormatch, the underlying mechanisms of the market. TRUE14. A reflection task would involve thinking about what strategies should be used to solve a problem. FALSE15.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. FALSE

• Flashcards

• Learn

• Test

• Match

• Flashcards

• Learn

• Test

• Match

Terms in this set (46)

True/False
Ewing Kauffman took a risk when he started his company Marion Labs in 1950.

True

True/False
How Ewing Kauffman ran his business illustrates corporate entrepreneurship.

True

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

True

True/False
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.

False

True/False
The McMullen-Shepherd Model helps identify the common traits of successful entreprenuers.

False

True/False
The McMullen-Shepherd Model explains how knowledge and motivation influence two stages of entrepreneurial action.

True

True/False
Superficial similarities exist when the underlying mechanisms of the technology resemble, or match, the underlying mechanisms of the market.

False

True/False
Structural similarities exist when the underlying mechanisms of the technology resemble, or match, the underlying mechanisms of the market.

True

True/False
Bricolage is entreprenuers making do by applying combinations of the resources at hand to new problems and opportunities.

True

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

True

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

False

True/False
Demographics, ethnic origin, and marital status are examples of segmentation variables.

True

True/False
Principles of effectuation help entrepreneurs develop their cognitive adaptability.

False

True/False
The question "What is this technology all about?" is a comprehension question.

True

True/False
Comprehension questions are designed to stimulate entrepreneurs to think about their own understanding.

False

True/False
Asking "How is this problem similar to problems I've already solved" is an example of a connection task.

True

True/False
A reflection task would involve thinking about what strategies should be used to solve a problem.

False

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

False

True/False
Perceived desirability refers to the degree to which an individual has a favorable or unfavorable evaluation of the potential entrepreneurial outcomes.

True

True/False
An entrepreneur is rarely able to start a new business without some form of formal education.

False

True/False
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.

False

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

True

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

True

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

True

True/False
Role models are individuals who give psychological support to the entrepreneur especially during the start-up phase.

False

True/False
Role models can include family members as well as industry professionals.

True

True/False
In a social network there are two major properties, density and centrality.

True

Entrepreneurial Opportunities are defined as:

A. situations in which new goods, services, raw materials and organizing methods can be sold at greater than their production cost.
B. new market entry through entrepreneur action.
C. the entrepreneur's mental processes in deciding whether or not to act on a potential opportunity.
D.a feasibility assessment.

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

In Stage One of the McMullen-Shepherd Model:

A. the entrepreneur decides whether or not there is an opportunity.
B. the entrepreneur consults experts in the market area of interest.
C. the entrepreneur decides whether the opportunity that exists is a match with their own knowledge and motivation.
D. the entrepreneur engages in bricolage.

C. the entrepreneur decides whether the opportunity that exists is a match with their own knowledge and motivation.

In Stage Two of the McMullen-Shepherd Model:

A. the entrepreneur deals with the business failure through counseling.
B. the entrepreneur decides whether or not there is an opportunity.
C. the entrepreneur goes through the causal process of thinking structurally.
D. the entrepreneur consults colleagues from previous jobs.

B. the entrepreneur decides whether or not there is an opportunity.

In regards to thinking structurally, superficial similarities:

A. exist when the underlying mechanisms of the technology resemble (or match) the underlying mechanisms of the market.
B. exist when supply is less than demand.
C. exist when entreprenuers engage in bricolage.
D. exist when the basic (relatively easy to observe) elements of the technology resemble the basic elements of the market.

D. exist when the basic (relatively easy to observe) elements of the technology resemble the basic elements of the market.

The causal process of thinking:

A. starts with a desired outcome and focuses on a 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.

A. starts with a desired outcome and focuses on a means to generate that outcome.

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

D. File for patent protection

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

D. Comprehension questions

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

C. A reflection task

__________ 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

C. Reflection tasks

An entrepreneur asks if there is a better way to implement a strategy. Identify the category of this question.

A. Reflection tasks
B. Connection tasks
C. Strategic questions
D. Comprehension questions

A. Reflection tasks

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

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

B. feasible

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

D. Self-efficacy

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.

B. cite an educational need in the areas of finance, strategic planning, marketing, and management.

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.

A. lack of prior experience.

As the venture becomes established and starts growing, which of the following types of experience becomes increasingly important?

A. Technical
B. Financing
C. Managerial
D. Marketing

C. Managerial

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.

A. the extensiveness of ties between two individuals.

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.

A. a professional support network includes finding a mentor.

Within the moral-support network, most entrepreneurs indicate that their _____ are their biggest supporters.

A. mentors
B. friends
C. parents
D. spouses

D. spouses

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

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

C. Trade associations

Students also viewed

Ch. 1

76 terms

amielamie

Entrepreneurship Midterm Exam (Ch.2)

30 terms

blairboat

Chapter 2 Corporate Entreprenuership

21 terms

leah52899

Exam 1

65 terms

jazmtour

Sets found in the same folder

ICS Chapter 2

44 terms

mckinney_georgia

Chapter 3

35 terms

Lisa_Grigaliunas

Ch. 14

98 terms

amielamie

MGMT 4252 Exam 2

127 terms

rachelleoblock

Other sets by this creator

GMAT

56 terms

mckinney_georgia

Spanish 101

90 terms

mckinney_georgia

ICS Chapter 6

50 terms

mckinney_georgia

ICS Chapter 4

68 terms

mckinney_georgia

Recommended textbook solutions

Operations Management: Sustainability and Supply Chain Management

12th EditionBarry Render, Chuck Munson, Jay Heizer

1,698 solutions

Operations Management: Sustainability and Supply Chain Management

12th EditionBarry Render, Chuck Munson, Jay Heizer

1,698 solutions

Service Management: Operations, Strategy, and Information Technology

7th EditionJames Fitzsimmons, Mona Fitzsimmons

103 solutions

Information Technology Project Management: Providing Measurable Organizational Value

5th EditionJack T. Marchewka

346 solutions

Other Quizlet sets

Z350 Final Exam

158 terms

Caleb_Naughton

MACROECONOMICS

42 terms

scottypquiz

Entrepreneurship Final Exam

193 terms

davoj37

MACRO // FINAL EXAM

39 terms

tal1029

Is stronger when action is perceived to be feasible and desirable?

Which among the following aspects affects an entrepreneur's perception of feasibility?

What is it which involves the ability to rapidly sense Act and mobilize even under uncertain conditions?

Why is mindset important in the recognition of opportunity?