Chapter 1

Question 1

1.1 Existing firms with an entrepreneurial orientation are practicing _______.

corporate entrepreneurship, entrepreneurship intensity, triggering events, creative destruction, execution intelligence

Answer 1

Corporate entrepreneurship

Existing firms with an entrepreneurial orientation are practicing corporate entrepreneurship.

Question 2

1.2 What is cited most often as the reason for people to become entrepreneurs and start their own firm?

To be their own boss, to pursue their own ideas, to leave their current employer, to garner public notice and prestige, to pursue financial rewards

Answer 2

To be their own boss

Being their own boss is cited most often as the reason for people to become entrepreneurs and start their own firm.

Question 3

1.3 The number one characteristic shared by successful entrepreneurs is a(n) ______.

passion for their business, strong work ethic, ability to listen to feedback, ability to preserve when the going gets tough, ability to overcome setbacks

Answer 3

Passion for their business

A passion for their business is the number one characteristic shared by successful entrepreneurs.

Question 4

1.4 _______ is the ability to shape a solid idea into a viable business.

Execution intelligence, Corporate entrepreneurship, Triggering events, Entrepreneurial intensity, Creative destruction

Answer 4

Execution intelligence

The ability to shape a solid idea into a viable business is execution intelligence.

Question 5

1.5 Which of the following is NOT a common characteristic of entrepreneurs?

Short attention span, Networker, Energetic, Self-Starter, Tolerant of ambiguity

Answer 5

Short attention span

A short attention span is not a common characteristic of entrepreneurs. Instead, they have long attention spans.

Question 6

1.6 Facebook, Uber, and Airbnb are examples of which type of firm?

Entrepreneurial, lifestyle, salary-substitute, value, non-profit

Answer 6

Entrepreneurial

Facebook, Uber, and Airbnb are examples of entrepreneurial firms.

Question 7

1.7 Individuals born between 1997 and 2012 are members of which generation?

Gen Z, Milennials, Gen X, Baby boomers, Gen W

Answer 7

Gen Z

Individuals born between 1997 and 2012 are members of Gen Z.

Question 8

1.8 _______ is the process in which entrepreneurs develop new products and technologies that over time make current products and technologies obsolete.

Creative Destruction, job creation, execution intelligence, corporate entrepreneurship, triggering events

Answer 8

Creative destruction

The process in which entrepreneurs develop new products and technologies that over time make current products and technologies obsolete is called creative destruction.

Question 9

1.9 An individual who loses a job and then decides that it is the right time to launch an entrepreneurial venture is an example of _______.

a triggering event, corporate entrepreneurship, innovation, creative destruction, execution intelligence

Answer 9

A triggering event

An individual who loses a job and then decides that it is the right time to launch an entrepreneurial venture is an example of a triggering event.

Question 10

1.10 Which employability skill reflects the increase globally for organizations to be accountable for the effects of their actions on stakeholders?

Social responsibility, Collaboration, Data literacy, Innovation, Critical thinking

Answer 10

Social Responsibility

Social responsibility reflects the increase globally for organizations to be accountable for the effects of their actions on stakeholders.