Chapter 2 (the entrepreneur)

Question 1

What is entrepreneurial mindset

Answer 1

-opportunity to present something new
-expanding or starting a business based on a gap in the market

Question 2

What are the 3 subsections of thinking structurally? explain each of them

Answer 2

1) mental leap: using existing market knowledge to help satisfy new market
2) superficial similarities: basis elements of technology match basic elements of the market
3) structural similarities: underlying mechanisms of technology match underlying mechanisms of the market

Question 3

What is effectuation thoery

Answer 3

Have resources on hand and see what can be made with it

Question 4

What is causation theory

Answer 4

Have a goal in mind and find the resources to get to that goal

Question 5

What is bricholage

Answer 5

Instead of manipulating the end product, you manipulate the resources

Question 6

What is boostrapping

Answer 6

Instead of buying resources, you rent them to get over resources scarcity

Question 7

What is cognitive adaptability

Answer 7

-think of adapt mentally
-Ability to act appropriately, reflect upon, understand and control one’s thinking and learning

Question 8

What are the 4 steps to cognitive adaptability

Answer 8

1) comprehension
2) connection
3) strategy
4) reflection

Question 9

What are the 3 characteristics

Answer 9

1) the need for achievement
2) the need for power
3) the need for affiliation

Question 10

What is the acronym for the 7 themes of desirable entrepreneur

Answer 10

C
C
L
O
T
C
M

Question 11

What are the 7 themes of desirable and acquirable attitudes and behaviours

Answer 11

1) commitment and determination
2) courage
3) leadership
4) opportunity obsession
5) tolerance of risk, ambiguity and uncertainty
6) creativity, self-reliance and adaptability
7) motivation to excel