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Question 1

What is the role of entrepreneurship according OECD?

Answer 1

• key to economic performance, in particular w.r.t. innovative change, playing a structural and dynamic role in all economies

Question 2

How does Joseph Schumpeter define Eship?

Answer 2

new factor combinations leading to new products, production methods or new markets -> creative destruction

Question 3

What are the key activities of entrepreneur according to Dorf & Byers?

Answer 3

• identify opportunities
• mobilize resources
• execute on their vision
• manage risks

Question 4

Give a definition of Eship according Dorf&Byers

Answer 4

creating new business enterprise that generates benefits by creating unique, new arrangements of resources (incl. tech) to meet the needs of customers and the society

Question 5

Definition of ‘technology entrepreneurship’ according Dorf&Byers

Answer 5

creation of a new business enterprise that generates benefits by creating unique new arrangements of ressources, including tech to meet the needs of customers and the society

Question 6

What are 3 character traits of entrepreneurs according to William B. Gartner?

Answer 6

Will to Perform
Internal Locus of Control
Risk Tolerance

Question 7

8 skills of entrepreneurship

Answer 7

1. initiate & operate a purposeful enterprise
2. operate within the context
3. identify timely opportunities
4. manage knowledge & tech
5. mobilize resources
6. assess & mitigate risks
7. be innovative
8. enable & encourage a collective team

Question 8

components of the system model

Answer 8

Labor/customer/financial/supplier market
value creation (supplier) -> value delivery (customer)

Question 9

definition of ‘business opportunity’

Answer 9

situations, where products can be introduced and sold at a higher price as their production costs. It’s a favorable juncture of circumstances providing a good chance for a successful venture

Question 10

describe phases of the opportunity process

Answer 10

1. opportunity: detect economic imbalance or information asymmetry
2. recognize: think, create a vision
3. evaluate: challenge and validate the vision
4. exploit: market solution, organization

Question 11

Jean Baptiste Say to the entrepreneur

Answer 11

shifts economic resources out of an area of lower and into an area of higher productivity

Question 12

motivations for entrepreneurs

Answer 12

Autonomy, Money, self-realization, innovation, role

Question 13

What is Kairos?

Answer 13

the right moment, moment of indeterminate time in which something special happens

Question 14

What are the seven sources for innovative opportunity?

Answer 14

1. the unexpected
2. incongruites (sth. far from optimum)
3. process need
4. industry and market structures
5. demographics
6. changes in perception
7. new knowledge