Quiz 11: Global Entrepreneurship and Intrapreneurship

Entrepreneurs are the same as people who purchase a small business in terms of the methodology, new product development, and the choice of markets.

A local dry cleaner has been through four different owners and provides dry cleaning facilities to customers in a particular locality.The current owner would be considered an entrepreneur.

Employees in a mid-size company rely on innovation and speed to a much greater extent than entrepreneurs.

A newly founded company that develops a revolutionary new way to do a particular activity and seeks to expand that new method nationally and internationally would be considered entrepreneurial.

Jeffry Timmons-one of the early leaders in entrepreneurship education-considered the opinion that entrepreneurs are born and not made, a myth.

The biggest difference in moving from corporate life to entrepreneurship is that entrepreneurs do not have a buffer between a mistake and total failure.

Entrepreneurs only launch commercial ventures, which sell products or services for a profit.

Social entrepreneurs apply similar tools and skill sets as other entrepreneurs.

Opportunity identification does not form a part of the entrepreneurial process.

A disruptive technology is a technology that can make prior technologies obsolete.

The executive summary highlights how the business operates on a day-to-day basis.

Venture funding can create unreasonable demands on the entrepreneur to produce results without the proper procedures and research required for long-term success.

In order to operate effectively, businesses need to know that contracts are binding, that their property and intellectual property rights are protected, and that there is a fair system for handling disputes.

Early adopters are those consumers who generally wait for others to buy a new technology before they make use of it.

Culture plays an insignificant role in deciding whether the condition in a particular country is conducive to entrepreneurship.

A born-global firm is a business organization that seeks to derive significant competitive advantage from the use of resources and the sale of outputs in multiple countries.

A common characteristic of born-global firms is that their offerings complement the products or capabilities of other global players.

Born-global firms follow the traditional pattern of businesses that operate in the home country for many years and gradually evolve into international trade.

The distinguishing feature of born-global firms is that their origins are international, as demonstrated by management's global focus and the commitment of certain types of resources to international activities.

There are two phases of a global start-up assessment, which consists of deciding whether a firm should become a global start-up and what the firm needs to do to make that happen.

An intrapreneur acts within the confines of an existing organization.

The World Bank suggests that it's easier to start a business in Venezuela or Guinea-Bissau than in Australia or New Zealand.

Organizations allow intrapreneurial employees to participate in the rewards of what they create in order to promote intrapreneurship.

The firm treats intrapreneurial teams as a cost center rather than as a profit center.

The organization defines and supports a system of contractual agreements between internal enterprises.

_____ is defined as "the recognition of opportunities and the use or creation of resources to implement innovative ideas for new, thoughtfully planned ventures." A)Entrepreneurship B)SWOT C)Globalization D)International business E)Intrapreneurship

A(n)_____ is defined as one who organizes, owns, manages, and assumes the risks of an economic venture. A)stakeholder B)strategist C)intrapreneur D)entrepreneur E)importer

_____ had been perceived as risk takers and nonconformists who were usually unable to work in a corporate environment. A)Angel investors B)Small-business owners C)Entrepreneurs D)Venture capitalists E)Intrapreneurs

_____ typically enter established markets, providing a more traditional product or service to a local market. A)Small-business owners B)Entrepreneurs C)Intrapreneurs D)Angel investors E)Venture capitalists

The entrepreneur: A)is typically the intraorganizational revolutionary. B)has the backing of an organization. C)challenges the status quo and fights to change the system from within. D)recognizes opportunities and uses resources to implement innovative ideas for new, thoughtfully planned ventures. E)operates as the profit centre of an organization.

Which of the following statements is true about intrapreneurs? A)They are synonymous with entrepreneurs. B)They have lesser resources than most new ventures. C)They face the immediate risk of losing a paycheck. D)They are protected from feeling the immediate impact of failures and mistakes. E)They undertake projects that never lead to any kind of innovation in product or service.

_____ refers to establishing organizations, either for-profit or nonprofit, whose focus is to implement innovative solutions to societal problems. A)Entrepreneurial process B)Social entrepreneurship C)Bootstrapping D)Angel investor E)Venture capitalist

_____ consists of identifying opportunities, planning and preparing the venture, and resourcing the venture and taking action. A)Business plan B)Bias for action C)New-market disruption D)Bootstrapping E)Entrepreneurial process

Opportunity analysis, planning and preparing the enterprise, and resourcing the enterprise are the three essential parts of the: A)management process. B)organizational process. C)institutional plan. D)entrepreneurial process. E)hybrid strategy.

Disruptive technology refers to: A)the process of exploiting a new business opportunity with limited funds. B)a technology that only changes existing technologies with better value. C)a technology that can make prior technologies obsolete. D)the propensity to act or decide without customary analysis or sufficient information. E)an investment firm that makes venture investments.

_____ is a technology that appears at the low end of an industry offering and usually does not lure customers away until it improves and becomes better than the incumbent offering. A)Social entrepreneurship B)New-market disruption C)Low-end disruption D)Bootstrapping E)Countertrade

New-market disruption refers to: A)targeting noncustomers to create a new market that was previously ignored by the dominant players of the existing market. B)disruptive technology that appears at the low end of an industry offering. C)the propensity to act or decide without customary analysis or sufficient information. D)a formal statement of a set of business goals. E)establishing organizations, either for-profit or nonprofit, whose focus is to implement innovative solutions to societal problems.

JetBlue has focused on low-cost strategy and has been able to achieve the lowest cost position in the industry by eliminating many services.However, it has also targeted overpriced but underserved markets.This is an example of: A)a new-market disruption strategy. B)venture capitalism. C)an angel investment. D)social entrepreneurship. E)a hybrid-disruption strategy.

A _____ refers to a formal statement of a set of business goals. A)strategic plan B)service-level plan C)pro-forma invoice D)horizontal scope statement E)business plan

A(n)_____ is a person or investment firm that makes venture investments and brings managerial and technical expertise as well as capital to their investments. a.born-global b.social entrepreneurship c.global start-up d.intrapreneurship e.venture capitalist e Easy

The most common form of bootstrapping is: A)to delay payment. B)to minimize inventory. C)to use a personal credit card. D)subsidy finance. E)joint utilization.

The probability of the success of a business venture depends: A)solely on strong execution of the strategies. B)solely on the necessary resources and capabilities. C)solely on the right entrepreneurial team. D)solely on a good opportunity. E)on a good opportunity, the right entrepreneurial team, and the necessary resources and capabilities.

Owner financing, sweat equity, and minimization of the accounts receivable are the different types of: A)bootstrapping. B)venture capital financing. C)angel funding. D)hedge funding. E)crowd funding.

A(n)_____ is an affluent individual who provides capital for a business start-up. A)angel investor B)social entrepreneur C)venture capitalist D)intrapreneur E)small-time business owner

Bias for action refers to: A)targeting noncustomers to create a new market that was previously ignored by the dominant players of the existing market. B)a formal statement of a set of business goals. C)establishing organizations, either for-profit or nonprofit, whose focus is to implement innovative solutions to societal problems. D)the propensity to act or decide without customary analysis or sufficient information. E)exploiting a new business opportunity with limited funds.

Tom Peters and Robert Waterman, authors of "In Search of Excellence," identified _____ as a distinguishing feature of agile, entrepreneurial firms. A)new-market disruption B)bias for action C)angel investment D)venture capitalism E)low-end disruption

Time and motion indicators: A)are one of the pillars associated with factor-driven economies. B)measure how long it takes to complete a regulatory goal. C)measure the relative political and economic stability of a nation. D)ensure measures to trace early adopters. E)assess the social culture of a nation.

_____ refer(s)to the annual assessment of the national level of entrepreneurial activity across countries, started as a partnership between London Business School and Babson College. A)Doing Business Index B)Global Entrepreneurship Monitor C)Global Competitiveness Index D)Index of Economic Freedom E)The World Bank Doing Business Reports

_____ refer(s)to a system that ranks nations quantitatively according to a weighted index of 12 assessed pillars. A)Index of Economic Freedom B)Global Entrepreneurship Monitor C)Doing Business Index D)The World Bank Doing Business Reports E)Global Competitiveness Index

Which of the following is an example of an innovation-driven economy? A)Argentina B)Brazil C)India D)Iran E)The United States

Which of the following is true with regards to crowdfunding? A)there is a limited availability of crowdfunding platforms B)entrepreneurs are forced to give away considerable amounts of equity C)it is becoming a primary source of revenue for many entrepreneurs D)Kickstarter is the newest crowdfunding company to emerge in the market E)it has been used to fund a wide range of non-for-profit organizations

Factor-driven economies are economies that are typical in countries that compete on the basis of: A)cutting-edge technological know-how. B)business sophistication and innovation. C)production processes and increased product quality. D)unskilled labor and natural resources. E)advanced corporate infrastructure and business practices.

Efficiency-driven economies are economies that are typical in countries that compete on the basis of: A)production processes and increased product quality. B)advanced corporate infrastructure and business practices. C)cutting-edge technological know-how. D)unskilled labor and natural resources. E)business sophistication and innovation.

Innovation-driven economies are economies that are typical in countries that compete on the basis of: A)unskilled labor and natural resources. B)cutting-edge technological know-how. C)business sophistication and innovation. D)production processes and increased product quality. E)advanced corporate infrastructure and business practices.

Efficiency-driven economies are: A)highly sensitive to world economic cycles, commodity price trends, and exchange rate fluctuations. B)found in countries that have well-established higher education, well-organized goods and labor markets, and the capacity to harness existing technologies. C)found in countries that have mature financial markets, business laws, large domestic size, and flourishing innovation. D)associated with pillars such as institutions, infrastructure, macroeconomic stability, and health and primary education. E)not sensitive to world economic cycles and exchange rate fluctuations.

The pillars associated with _____ economies are institutions, infrastructure, macroeconomic stability, and health and primary education. A)productivity-driven B)skill-driven C)innovation-driven D)efficiency-driven E)factor-driven

The Brazilian economy competes on production and product quality.Therefore, one could term the Brazilian economy as an example of: A)a factor-driven economy. B)an efficiency-driven economy. C)venture capitalism. D)an innovation-driven economy. E)bootstrapping.

Chad's economy is dependent on oil reserves and is very sensitive to world economic cycles, commodity prices, and fluctuations in exchange rates.Hence, one could term this economy as an example of: A)an innovation-driven economy. B)a factor-driven economy. C)bootstrapping. D)venture capitalism. E)an efficiency-driven economy.

A(n)_____ refers to a business organization that seeks to derive significant competitive advantage from the use of resources and the sale of outputs in multiple countries. A)born-global firm B)spin-out firm C)early internationalizing firm D)young resource-poor firm E)restructured existing firm

The traditional firm: A)develops strategies needed to expand abroad at the time of the firm's founding. B)begins with a "borderless" view of the world. C)operates in the home country for many years and gradually evolves into international trade. D)focuses on achieving superior performance in international business from the inception of the firm. E)is defined as a business organization that, from inception, seeks to derive significant competitive advantage from the use of resources and the sale of outputs in multiple countries.

A(n)_____ is a business organization that,from inception, seeks toderive significant competitive advantage from the use of resources and the sale of outputs in multiple countries. A)born-global B)social entrepreneurship C)global start-up D)intrapreneurship E)venture capital

A(n)_____ refers to a person within an established business who takes direct responsibility for turning an idea into a profitable finished product through assertive risk taking and innovation. A)angel investor B)venture capitalist C)small-business owner D)entrepreneur E)intrapreneur

Intrapreneurship refers to a form of entrepreneurship that: A)allows the hostile takeover of one organization by another. B)leads to the establishment of a new business. C)helps in the merger of two existing businesses. D)takes place in a business that is already in existence. E)helps in the demerger of an existing business.

In their book "Re-Inventing the Corporation," John Naisbitt and Patricia Aburdene cited _____ as a way for established businesses to find new markets and new products. A)venture capitalism B)angel investment C)intrapreneurship D)small-business ownership E)bias for action

The development of the Macintosh computer within Apple is an example of: A)intrapreneurship. B)angel investment. C)venture capitalism. D)bootstrapping. E)a new-market disruption strategy.

IBM used _____ to enable broad collaboration, gain new perspectives on problems and challenges, and find important patterns and themes, all with the goal of accelerating decision making and action. A)venture capitalism B)crowdsourcing A)organizational intrapreneurship B)bootstrapping C)social entrepreneurship

A(n)_____ is one that seeks to systematically promote the spirit of intrapreneurship in targeted parts of the organization. A)intrapreneurial organization B)angel investor C)venture capitalist D)social entrepreneur E)small-business owner

The coexistence approach is one form of: A)organizational intrapreneurship. B)bootstrapping. C)social entrepreneurship. D)venture capitalism. E)a born-global firm.

In the coexistence approach: A)the firm sets up an internal new-venture division. B)new venture activities are conducted within an existing business or business unit. C)investment firms make venture investments and bring managerial and technical expertise as well as capital to the investments. D)firms exploit a new business opportunity with limited funds. E)firms create a new market that was previously ignored by the existing market's dominant players.

In the structural-separation approach of organizational intrapreneurship: A)the firm sets up an internal new-venture division. B)new-venture activities are conducted within an existing business or business unit. C)an investment firm makes venture investments and brings managerial and technical expertise as well as capital to the investments. D)firms exploit a new business opportunity with limited funds. E)firms create a new market that was previously ignored by the dominant players of the existing market.

What factors should you consider before deciding to be an entrepreneur?

How does a stint in corporate life help an entrepreneur?

What are the levers that lead to the identification of opportunities?

What are the three categories into which new venture opportunities tend to fall?

What are the factors that affect the ease with which business could be done in a country?

What is the Global Competitiveness Index (GCI)?

Define a "born-global" firm.

What distinguishing feature separates a born-global firm from a traditional business organization?

What methods are used by organizations to foster intrapreneurship?

What are the major obstacles faced by organizations in setting up new venture activities as a part of the coexistence approach of organizational intrapreneurship?

According to the late Jeffry Timmons, one of the early leaders in entrepreneurship education, what are the five most prevalent myths about entrepreneurship?

Explain the constituents of a typical business plan.

What are the categories into which the World Economic Forum divides the economies of the world? Explain with examples.

What are the prerequisites for ensuring the success of a global start-up?

What concerns do organizations have to take care of in order to ensure the success of corporate new ventures?

How do entrepreneurs identify opportunities for new business ventures?

_____ had been perceived as risk takers and nonconformists who were usually unable to work in a corporate environment.

_____ typically enter established markets, providing a more traditional product or service to a local market.

Many large companies attempt to create the spirit of entrepreneurship inside their organizations.These internal groups of individuals are known as _____.

The computer would be considered a _____ technology for the typewriter.

A(n)_____ disruption targets noncustomers rather than low-end customers.

A combination of new-market and low-end disruption strategies is termed as _____.

_____ means exploiting a new business opportunity with limited funds.

_____ indicators measure how long it takes to complete a regulatory goal.

_____ are those consumers who buy technologies ahead of the curve.

The starting point for new ventures is _____, while the strategy for existing firms usually begins with some assessment of the firm's underlying resources and capabilities.

A new source of capital for start-ups is _____, a worldwide fundraising phenomenon, where proof of concept is supported by the general masses instead of a few with deep pockets.

Logitech, the computer peripherals company, is one of the best early examples of a successful _____ firm.

In order to secure start-up financing and launch the new product, many entrepreneurs draw up a formal _____ that brings all the elements of the new venture together for a specific purpose.

The _____ approach is one form of organizational intrapreneurship wherein the new venture activities are conducted within an existing business or business unit.

The _____ approach is one form of organizational intrapreneurship in which the firm sets up an internal new-venture division.