ENTR 3310 TEST 1 With Correct Ans
Entrepreneurship cmethods: c- cCORRECT cANS✔✔-Thinking.
-Acting.
-Identifying copportunities.
-Approaching cproblems.
Entrepreneurship: c- cCORRECT cANS✔✔•Vehicle cfor cdeveloping ca cset cof cskills; cA cway cof cthink
Media cImages cof cEntrepreneurs c- cCORRECT cANS✔✔•The cmedia cexaggerates c"overnight cglob
-These cpeople care cinspirational cbut cnot cidentifiable.
-There cis cno csuch cthing cas can covernight csuccess.
Debunking cthe cMyths cof cEntrepreneurship c- cCORRECT cANS✔✔•Truth c#1: cEntrepreneurship cis
•Truth c#2: cEntrepreneurs cdo cnot chave ca cspecial cset cof cpersonality ctraits.
•Truth c#3: cEntrepreneurship ccan cbe ctaught.
-It's ca cmethod cthat crequires cpractice.
•Truth c#4: cEntrepreneurs care cnot cextreme crisk-takers.
•Truth c#5: cEntrepreneurs ccollaborate cmore cthan cthey ccompete.
•Truth c#6: cEntrepreneurs cact cmore cthan cthey cplan.
•Truth c#7: cEntrepreneurship cis ca clife cskill.
Corporate cEntrepreneurship c- cCORRECT cANS✔✔•Process cof ccreating cnew cproducts, cventures
•Corporate centrepreneurs csee copportunities cand ccreate csomething cof cvalue.
-To cenhance ccompetitive ccompetition.
Entrepreneurship cInside c- cCORRECT cANS✔✔•Consist cof cemployees cwho cthink cand cact centre
-They cneed cto cgain csupport cfrom csenior cmanagers.
-Inside centrepreneurs cand cother centrepreneurs cboth cwish cto ccreate csomething cof cvalue.
Franchising c- cCORRECT cANS✔✔•It cis ca clicense cpurchased cby can centrepreneur cfrom can cexis
-Allowing cthe centrepreneur cto ctrade cunder cthe cname cof cthat cbusiness.
-A cfranchise cis cbeneficial cfor centrepreneurs cto claunch ctheir cown cbusinesses
Buying ca cSmall cBusiness c- cCORRECT cANS✔✔•Buying cout cthe cexisting cowner cand ctaking cov
-Example: cChris cCranston cof cFlowDog.
, The cEntrepreneurship cProcess: c- cCORRECT cANS✔✔•An cOutdated cView.
-Emphasizes cplanning cand cprediction.
-10-step cprocess: cIneffective cin cnew cventures.
-Entrepreneurship: cNon-linear cprocess.
-Majority cof cstartups cfail cafter cthe cfirst c5 cyears.
Method: c- cCORRECT cANS✔✔•Systematic cway cof capproaching ctask.
Managerial cVersus cEntrepreneurial cThinking c- cCORRECT cANS✔✔•Managers clead ccorporations
cstartups.
•A cstartup cenvironment chas cto cface cmany cmore crisks cthan ca ccorporate corganization.
Entrepreneurial cand cManagerial cThinking cin cAction c- cCORRECT cANS✔✔•Experiment: cCurry cin
-Making ca cstart cin cthe crestaurant cbusiness: cThis capproach cis cbased con ctwo cbig cassumptions.
•Eight cComponents cof cthe cPractice cof cEntrepreneurship c- cCORRECT cANS✔✔-Identify cyour cde
-Start cwith cmeans cat chand.
-Describe cthe cidea ctoday.
-Calculate caffordable closs.
-Take csmall caction.
-Network cand cenroll cothers cin cyour cjourney.
-Build con cwhat cyou clearn.
-Reflect cand cbe chonest cwith cyourself.
What cis cDesign cThinking? c- cCORRECT cANS✔✔•A ctoolkit cto csolve cproblems.
•Has ca chuman-centered capproach.
•It cis ca ctool cand cnot centrepreneurship citself.
•Seven cSkills cof cDesigners cthat cEntrepreneurs cShould cHave c- cCORRECT cANS✔✔-Observatio
-Listening.
-Desire cchange.
-Context cand cintegration.
-Solutions-driven.
-Consideration.
-Unbound.
A cdesign-thinking capproach: c- cCORRECT cANS✔✔•What cdo cpeople cneed?
•An cidea cis csuccessful cif cit cstrikes ca cbalance camong cthree cmain ccriteria: cFeasibility, cviability, c
-The cstarting cpoint cis cdesirability.
-Understanding cemotional cand ccultural crealities.
Empathy: c- cCORRECT cANS✔✔•An cessential cskill cfor cdesign cthinkers.
•Developing cempathic cability callows cus cto cunderstand: cHow cpeople cdo cthings cand cwhy.
•It clooks cat cthe cemotional cas cwell cas cthe cfunctional cside cof cproblems.
•The cIDEO capproach cconsists cof cthree cmain cphases: c- cCORRECT cANS✔✔-Inspiration.
-Ideation.
-Implementation.
Inspiration c- cCORRECT cANS✔✔•Involves cdefining cthe cdesign cchallenge cand clearning cabout cu
-Have cfreedom cto cimagine cwhile chaving cboundaries.
-Ask cquestions cto cenhance, ccreate, cimprove.
Ideation c- cCORRECT cANS✔✔•Involves cgenerating cand cdeveloping cnew cideas.
Entrepreneurship cmethods: c- cCORRECT cANS✔✔-Thinking.
-Acting.
-Identifying copportunities.
-Approaching cproblems.
Entrepreneurship: c- cCORRECT cANS✔✔•Vehicle cfor cdeveloping ca cset cof cskills; cA cway cof cthink
Media cImages cof cEntrepreneurs c- cCORRECT cANS✔✔•The cmedia cexaggerates c"overnight cglob
-These cpeople care cinspirational cbut cnot cidentifiable.
-There cis cno csuch cthing cas can covernight csuccess.
Debunking cthe cMyths cof cEntrepreneurship c- cCORRECT cANS✔✔•Truth c#1: cEntrepreneurship cis
•Truth c#2: cEntrepreneurs cdo cnot chave ca cspecial cset cof cpersonality ctraits.
•Truth c#3: cEntrepreneurship ccan cbe ctaught.
-It's ca cmethod cthat crequires cpractice.
•Truth c#4: cEntrepreneurs care cnot cextreme crisk-takers.
•Truth c#5: cEntrepreneurs ccollaborate cmore cthan cthey ccompete.
•Truth c#6: cEntrepreneurs cact cmore cthan cthey cplan.
•Truth c#7: cEntrepreneurship cis ca clife cskill.
Corporate cEntrepreneurship c- cCORRECT cANS✔✔•Process cof ccreating cnew cproducts, cventures
•Corporate centrepreneurs csee copportunities cand ccreate csomething cof cvalue.
-To cenhance ccompetitive ccompetition.
Entrepreneurship cInside c- cCORRECT cANS✔✔•Consist cof cemployees cwho cthink cand cact centre
-They cneed cto cgain csupport cfrom csenior cmanagers.
-Inside centrepreneurs cand cother centrepreneurs cboth cwish cto ccreate csomething cof cvalue.
Franchising c- cCORRECT cANS✔✔•It cis ca clicense cpurchased cby can centrepreneur cfrom can cexis
-Allowing cthe centrepreneur cto ctrade cunder cthe cname cof cthat cbusiness.
-A cfranchise cis cbeneficial cfor centrepreneurs cto claunch ctheir cown cbusinesses
Buying ca cSmall cBusiness c- cCORRECT cANS✔✔•Buying cout cthe cexisting cowner cand ctaking cov
-Example: cChris cCranston cof cFlowDog.
, The cEntrepreneurship cProcess: c- cCORRECT cANS✔✔•An cOutdated cView.
-Emphasizes cplanning cand cprediction.
-10-step cprocess: cIneffective cin cnew cventures.
-Entrepreneurship: cNon-linear cprocess.
-Majority cof cstartups cfail cafter cthe cfirst c5 cyears.
Method: c- cCORRECT cANS✔✔•Systematic cway cof capproaching ctask.
Managerial cVersus cEntrepreneurial cThinking c- cCORRECT cANS✔✔•Managers clead ccorporations
cstartups.
•A cstartup cenvironment chas cto cface cmany cmore crisks cthan ca ccorporate corganization.
Entrepreneurial cand cManagerial cThinking cin cAction c- cCORRECT cANS✔✔•Experiment: cCurry cin
-Making ca cstart cin cthe crestaurant cbusiness: cThis capproach cis cbased con ctwo cbig cassumptions.
•Eight cComponents cof cthe cPractice cof cEntrepreneurship c- cCORRECT cANS✔✔-Identify cyour cde
-Start cwith cmeans cat chand.
-Describe cthe cidea ctoday.
-Calculate caffordable closs.
-Take csmall caction.
-Network cand cenroll cothers cin cyour cjourney.
-Build con cwhat cyou clearn.
-Reflect cand cbe chonest cwith cyourself.
What cis cDesign cThinking? c- cCORRECT cANS✔✔•A ctoolkit cto csolve cproblems.
•Has ca chuman-centered capproach.
•It cis ca ctool cand cnot centrepreneurship citself.
•Seven cSkills cof cDesigners cthat cEntrepreneurs cShould cHave c- cCORRECT cANS✔✔-Observatio
-Listening.
-Desire cchange.
-Context cand cintegration.
-Solutions-driven.
-Consideration.
-Unbound.
A cdesign-thinking capproach: c- cCORRECT cANS✔✔•What cdo cpeople cneed?
•An cidea cis csuccessful cif cit cstrikes ca cbalance camong cthree cmain ccriteria: cFeasibility, cviability, c
-The cstarting cpoint cis cdesirability.
-Understanding cemotional cand ccultural crealities.
Empathy: c- cCORRECT cANS✔✔•An cessential cskill cfor cdesign cthinkers.
•Developing cempathic cability callows cus cto cunderstand: cHow cpeople cdo cthings cand cwhy.
•It clooks cat cthe cemotional cas cwell cas cthe cfunctional cside cof cproblems.
•The cIDEO capproach cconsists cof cthree cmain cphases: c- cCORRECT cANS✔✔-Inspiration.
-Ideation.
-Implementation.
Inspiration c- cCORRECT cANS✔✔•Involves cdefining cthe cdesign cchallenge cand clearning cabout cu
-Have cfreedom cto cimagine cwhile chaving cboundaries.
-Ask cquestions cto cenhance, ccreate, cimprove.
Ideation c- cCORRECT cANS✔✔•Involves cgenerating cand cdeveloping cnew cideas.
