International Business Opportunities and Challenges Study Set 1

Business

Quiz 11 :

Global Entrepreneurship and Intrapreneurship

Quiz 11 :

Global Entrepreneurship and Intrapreneurship

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

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

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

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Venture funding can create unreasonable demands on the entrepreneur to produce results without the proper procedures and research required for long-term success.
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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.
True False
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A disruptive technology is a technology that can make prior technologies obsolete.
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Culture plays an insignificant role in deciding whether the condition in a particular country is conducive to entrepreneurship.
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Early adopters are those consumers who generally wait for others to buy a new technology before they make use of it.
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The executive summary highlights how the business operates on a day-to-day basis.
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Social entrepreneurs apply similar tools and skill sets as other entrepreneurs.
True False
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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.
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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.
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Entrepreneurs are the same as people who purchase a small business in terms of the methodology, new product development, and the choice of markets.
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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.
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A common characteristic of born-global firms is that their offerings complement the products or capabilities of other global players.
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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.
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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.
True False
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Born-global firms follow the traditional pattern of businesses that operate in the home country for many years and gradually evolve into international trade.
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Employees in a mid-size company rely on innovation and speed to a much greater extent than entrepreneurs.
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Opportunity identification does not form a part of the entrepreneurial process.
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