Question 1

Match these types of examples with the relevant decisions.
-Three engineering graduates establish 'EcoDry' a new venture that seizes a growing market opportunity. They have combined several existing technologies, creating a new, more environmentally-friendly technique for dry cleaning textiles.
A) Appropriating and accumulating value
B) Identifying or creating new opportunities
C) Mobilising and leveraging resources
D) Redistributing and redirecting value

Accepted Answer

The example describes the establishment of a new venture that seizes a growing market opportunity by combining existing technologies to create a more environmentally-friendly technique for dry cleaning textiles, which reflects the process of identifying or creating new opportunities.

Answer: C
 The establishment of the new venture requires the mobilisation and leveraging of resources, i.e. the engineering graduates require resources such as knowledge, skills, and funding to combine existing technologies to create a new product/service.

Question 2

Match these types of examples with the relevant decisions.
-The founders of Eco-Dry secure financial resources from a number of sources, including their own family and friends. They also decide to recruit an experienced technology entrepreneur in order to increase their credibility with potential investors and business partners.
A) Appropriating and accumulating value
B) Identifying or creating new opportunities
C) Mobilising and leveraging resources
D) Redistributing and redirecting value

Accepted Answer

The founders of Eco-Dry are mobilizing and leveraging resources by securing financial resources from multiple sources and recruiting an experienced technology entrepreneur to increase their credibility with potential investors and partners.

Question 3

Match these types of examples with the relevant decisions.
-The founders of Eco Dry decide to set up a commercial holding company on a franchise-based business model; they considered adopting a social enterprise model, but decided that this had the greatest growth potential. The founders accumulate wealth from the franchisees and from their own equity stake.
A) Appropriating and accumulating value
B) Identifying or creating new opportunities
C) Mobilising and leveraging resources
D) Redistributing and redirecting value

Accepted Answer

The founders' decision to set up a commercial holding company on a franchise-based business model and their accumulation of wealth from franchisees and their own equity stake are examples of appropriating and accumulating value. This involves capturing value from the business operations and growth.

Question 4

Match these types of examples with the relevant decisions.
-Once it is trading, 'Eco-Dry' is paying wages to employees, reimbursing suppliers, paying dividends to investors and taxes to local and national governments. The founders may also decide to re-invest their profits in new projects and making donations to environmental charities.
A) Appropriating and accumulating value
B) Identifying or creating new opportunities
C) Mobilising and leveraging resources
D) Redistributing and redirecting value

Accepted Answer

The example describes how the company is redistributing and redirecting value by paying wages to employees, reimbursing suppliers, paying dividends to investors and taxes to governments, and making donations to environmental charities.

Question 5

Encouraging entrepreneurial activity that focuses on whether we are producing young people with skills energy and ideas would be referred to as operating at what level?

Accepted Answer

The answer of Encouraging entrepreneurial activity that focuses on whether...

Question 6

Encouraging entrepreneurial activity that focuses on whether our country has supportive rules and regulations would be referred to as operating at what level?

Accepted Answer

The answer of Encouraging entrepreneurial activity that focuses on whether...

Question 7

According to the text many researchers have investigated...(fill in the blanks below).
The idea that economic activity based on ______ clusters of smaller firms could be more ______ and flexible than either conventional ______ or large ______ corporations (e.g. Piore and Sabel 1984).

Accepted Answer

The answer of According to the text many researchers have...

Question 8

Complete the following sentences by choosing the appropriate selection for each gap.
Learning by doing focuses on learning through ______ and ______. In this process, entrepreneurs identify ______ and ______ through trial and error.

Accepted Answer

The answer of Complete the following sentences by choosing the...

Quiz 1: Exploring Entrepreneurship

Match these types of examples with the relevant decisions. -Three engineering graduates establish 'EcoDry' a new venture that seizes a growing market opportunity. They have combined several existing technologies, creating a new, more environmentally-friendly technique for dry cleaning textiles.

Encouraging entrepreneurial activity that focuses on whether we are producing young people with skills energy and ideas would be referred to as operating at what level?

Encouraging entrepreneurial activity that focuses on whether our country has supportive rules and regulations would be referred to as operating at what level?

According to the text many researchers have investigated...(fill in the blanks below). The idea that economic activity based on clusters of smaller firms could be more and flexible than either conventional or large corporations (e.g. Piore and Sabel 1984).

Complete the following sentences by choosing the appropriate selection for each gap. Learning by doing focuses on learning through and . In this process, entrepreneurs identify and through trial and error.

Quiz 1: Exploring Entrepreneurship

Match these types of examples with the relevant decisions. -Three engineering graduates establish 'EcoDry' a new venture that seizes a growing market opportunity. They have combined several existing technologies, creating a new, more environmentally-friendly technique for dry cleaning textiles.

Encouraging entrepreneurial activity that focuses on whether we are producing young people with skills energy and ideas would be referred to as operating at what level?

Encouraging entrepreneurial activity that focuses on whether our country has supportive rules and regulations would be referred to as operating at what level?

According to the text many researchers have investigated...(fill in the blanks below). The idea that economic activity based on ______ clusters of smaller firms could be more ______ and flexible than either conventional ______ or large ______ corporations (e.g. Piore and Sabel 1984).

Complete the following sentences by choosing the appropriate selection for each gap. Learning by doing focuses on learning through ______ and ______. In this process, entrepreneurs identify ______ and ______ through trial and error.

According to the text many researchers have investigated...(fill in the blanks below). The idea that economic activity based on clusters of smaller firms could be more and flexible than either conventional or large corporations (e.g. Piore and Sabel 1984).

Complete the following sentences by choosing the appropriate selection for each gap. Learning by doing focuses on learning through and . In this process, entrepreneurs identify and through trial and error.