Show 1.Research indicates that male entrepreneur tend to start their first significant venture in their middle 30s, while women entrepreneurs tend to do so in their early 30s. False 2.Comprehension questions are designed to stimulate entrepreneurs to think about their own understanding of the nature environment. True 3.The question “What is this technology all about?” is a comprehension question. True 4.When we talk of new opportunities it should be totally not existing opportunities before. 5.The casual process of thinking starts with what one has and selects among possible outcomes. False 6.Entrepreneurial action can be defined as those situations in which new goods, service, raw materials and organizing methods can be sold at greater than their production cost. False 7.For entrepreneurial actions that preserve nature to be considered sustainable entrepreneurship, they must also develop gains for the entrepreneur, other and/or society. True 8.Previous start-up experience is a good predictor of starting subsequent businesses. True 9.Role model can include family members as well as industry professionals. True 10.Entrepreneurship means that an individual must be able to look for capital, labor and operating equipment. True 11.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 12.Asking “How is this problem similar to problem I’ve already solved’? is an example of connection task. True 13.An entrepreneur is rarely able to start a new business without some form of formal education. False 14.Entrepreneurial thinking partly is about reducing doubt as to whether an opportunity for someone is also an opportunity for them specifically, and/or processing feedback from action step taken. True 15.Entrepreneurial thinking is partly a mental process of recognizing a signal and then deciding if the signal represents an opportunity for someone. True 16.A business that is privately owned and operated, with a small number of employees and relatively low volume of sales. False 17. The buying and selling of products or services in order to make a profit is considered as business. 18.All opportunities are good. True 19.Being effective is when you perform your work using less money and/or resources. False 20.The effectuation process starts with what one has and selects among possible outcomes. True 21.Dissatisfaction with various aspects of one’s job often motivates the launching of a new venture. True 22.Bricolage is entrepreneurs making do by applying combinations of the resources at hand to new problems and opportunities. True 23.The word entrepreneur originates from the English word, entrepreneur, which means “to undertake”. False 24.Most entrepreneurs indicate that their most significant venture was not their first one. True 25.It is true that entrepreneurship is both a science and an art. The art lies in the proven process of planning and managing a business. The science lies in the innovative thought, implementation and growth of a business. False 26.The McMullen-Shepherd Model helps identify the common traits of successful entrepreneurs. False 27.The definition of entrepreneurship explored so far imply that is more than just about business success and sustainability. True 28. Entrepreneurs have stronger intentions to act when taking action is perceived to be impossible and risky. False Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. What is entrepreneurial perception?The perception of entrepreneurship education has been explored through various factors, such as perceived self-efficacy, perceived desirability, desire for achievement and fear of failure (Farashah, 2013; Peterman and Kennedy, 2003; Shrivastava and Acharya, 2020).
Why would an entrepreneur perform a feasibility analysis?It is the preliminary evaluation of a business idea, conducted for the purpose of determining whether the idea is worth pursuing. 3. Feasibility analysis takes the guesswork (to a certain degree) out of a business launch, and provides an entrepreneur with a more secure notion that a business idea is feasible or viable.
What are the major factors that lead to an entrepreneur understanding?Entrepreneurs work under the constraints of their environment – the political economy. Five factors will be key to entrepreneurial success: creativity, tolerance for risk, responsiveness to opportunities, leadership and the ability to take advantage of the rights afforded to you.
What is McMullen Shepherd Model How does it affects entrepreneurs?McMullen & Shepherd's model shows that a decision to act entrepreneurially is dependent upon an individual forming two sequential beliefs: (1) that a third person opportunity exists ie an opportunity exists in the market place for someone (attention stage); and (2) that a first person opportunity exists ie they ...
|