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Exam 1: The Entrepreneurial Mind-Set

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Question 1

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The McMullen-Shepherd Model helps identify the common traits of successful entrepreneurs. 

A) True
B) False

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Question 2

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All of the following statements are true of sustainable entrepreneurship except:

A) Entrepreneurs with a positive attitude toward the natural environment never disengage these values to exploit an opportunity.
B) It is not just the natural environment that needs sustained; communities also need to be preserved.
C) Environmental gains include reduced air pollution, improved air quality, and enhanced living conditions.
D) Social gains include improved child survival rates, longer life expectancy, and equal opportunity.

E) B) and D)
F) A) and B)

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Question 3

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

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

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

Identify and define the four types of questions/tasks related to increasing cognitive ability.

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

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.

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

The thought experiment "Curry in a Hurry" is an example of the effectuation process. 

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

On the education background,entrepreneurs:

For entrepreneurial actions that preserve nature to be considered sustainable entrepreneurship,they must also develop gains for the entrepreneur,others,and/or society. 

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

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. 

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

Role models can include family members as well as industry professionals. 

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

Bricolage is entrepreneurs making do by applying combinations of the resources at hand to new problems and opportunities. 

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