Question 1

The causal process of thinking:

Accepted Answer

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. 
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. A

Question 2

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 3

In the McMullen-Shepherd Model first person opportunity beliefs come before third person opportunity beliefs.

Accepted Answer

A) True 
 B)False  False

Question 4

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

Accepted Answer

A) True 
 B)False

Question 5

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

Accepted Answer

A) True 
 B)False

Question 6

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

Accepted Answer

1.Superficial similarities exist when th

Question 7

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?

Accepted Answer

A moral support network is for emotional

Question 8

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

Accepted Answer

A) True 
 B)False

Question 9

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 10

In Stage Two of the McMullen-Shepherd Model:

Accepted Answer

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

Question 11

Is the example "Curry in a Hurry" is an example of the effectuation process?

Accepted Answer

A) True 
 B)False

Question 12

Entrepreneurial Opportunities are defined as:

Accepted Answer

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

Question 13

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

Accepted Answer

A) True 
 B)False

Question 14

In regards to thinking structurally,superficial similarities:

Accepted Answer

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

Question 15

Density,in regards to a social network,refers to:

Accepted Answer

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. 
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.

Question 16

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 17

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

Accepted Answer

A) True 
 B)False

Question 18

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

Accepted Answer

A) True 
 B)False

Question 19

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 20

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

Accepted Answer

A) True 
 B)False

The causal process of thinking:

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

In the McMullen-Shepherd Model first person opportunity beliefs come before third person opportunity beliefs.

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

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

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

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?

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

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.

In Stage Two of the McMullen-Shepherd Model:

Is the example "Curry in a Hurry" is an example of the effectuation process?

Entrepreneurial Opportunities are defined as:

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

In regards to thinking structurally,superficial similarities:

Density,in regards to a social network,refers to:

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

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

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

On the education background,entrepreneurs:

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

Entrepreneurial Intentions and Corporate Entrepreneurship

Entrepreneurial Strategy: Generating and Exploiting New Entries

Creativity and the Business Idea

Identifying and Analyzing Domestic and International Opportunities

Intellectual Property 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: Entrepreneurship and the Entrepreneurial Mind-Set

The causal process of thinking:

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

In the McMullen-Shepherd Model first person opportunity beliefs come before third person opportunity beliefs.

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

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

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

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?

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

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.

In Stage Two of the McMullen-Shepherd Model:

Is the example "Curry in a Hurry" is an example of the effectuation process?

Entrepreneurial Opportunities are defined as:

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

In regards to thinking structurally,superficial similarities:

Density,in regards to a social network,refers to:

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

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

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

On the education background,entrepreneurs:

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

Entrepreneurial Intentions and Corporate Entrepreneurship

Entrepreneurial Strategy: Generating and Exploiting New Entries

Creativity and the Business Idea

Identifying and Analyzing Domestic and International Opportunities

Intellectual Property 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