Exam Questions

Question 1

The following figure allows drawing conclusions concerning the relationship
between entry density and GDP per capita. Please choose the answer that is
NOT applicable:

Answer 1

d) All countries scoring low in the entrepreneurial activity are poor

Question 2

Entrepreneurs are often highly passionate about their ventures. What is NOT true
about entrepreneurial passion?

Answer 2

d) Passion is a generalized attitude.

Question 3

What is true about entrepreneurs’ personality traits?

Answer 3

a) They are dispositions to act or react in a certain way across various
situations.

Question 4

What is true about meta-analyses?

Answer 4

b) They facilitate the analysis of relationships across studies

Question 5

What is true about typical motives of entrepreneurs?

Answer 5

a) Because entrepreneurs have a preference for high standards, they were
found to have a high need for achievement.

Question 6

Imagine you are an entrepreneurial manager at HIPP, a German mid-sized baby
food producer. Which change(s) in the environment might NOT be an opportunity
for you?

Answer 6

c) Growing preference of parents for homemade baby food.

Question 7

Which of the following is NOT a creativity technique useful for opportunity
identification?

Answer 7

a) Affective complexity.

Question 8

What is NOT an example for analogical reasoning?

Answer 8

b) Combination of high-end car and affordable price

Question 9

Entrepreneurs often must make decisions under conditions of risk. What is true
about risk?

Answer 9

c) The probability of an outcome is possible to calculate or is knowable.

Question 10

What is true about forming partnerships?

Answer 10

a) Each stakeholder can bring new means to the venture.

Question 11

Which action is typical of an entrepreneur who starts a new shop selling
vegetables and fruits and follows the effectuation process?

Answer 11

b) Watching out for opportunities that fit own resources.

Question 12

Which of the following rules was applied in the IDEO shopping cart video?

Answer 12

d) One conversation at a time.

Question 13

What are stages of the design process?

Answer 13

c) Understand important issues, split the group and go outside, find out firsthand experience.

Question 14

What can we learn from the design process in the IDEO shopping cart video
about team work?

Answer 14

a) It’s a messy unplannable process.

Question 15

Which of the following statements regarding prototyping is INCORRECT?

Answer 15

b) Prototyping is used to generate first revenues fast.

Question 16

For idea evaluation the design thinking process suggests which criteria?

Answer 16

c) Desirability, viability and feasibility.

Question 17

What is the lower part of the Business Model Canvas about?

Answer 17

b) It helps you to understand the financials of your business idea.

Question 18

A start-up wants to create special chocolate bars and comes up with the value
proposition that customers can create their own bars from a set of ingredients
(i.e. customized chocolate bars). As an expert in the Business Model Canvas,
what piece of advice are you UNLIKELY to give?

Answer 18

c) Supermarkets would be the most appropriate distribution channel
because customers can compare the new chocolate bar to existing bars.

Question 19

Looking at the Business Model Canvas of Personio, the CDTM belongs to
Personio’s:

Answer 19

d) Key partners.

Question 20

The value proposition is at the center of the business model canvas. What could
be a value proposition?

Answer 20

c) Accessibility

Question 21

What are parts of the Business Model Canvas?

Answer 21

b) Value proposition, customer relationships, customer segments.

Question 22

Which orientation can entrepreneurs follow when splitting their equity?

Answer 22

d) Backwards and forwards orientation.

Question 23

An advantage of bootstrapping is

Answer 23

b) that the control remains with the founders for a long time.

Question 24

Two close friends that have known each other since kindergarten have just
formed an entrepreneurial team. Which challenges are they LESS likely to face in
comparison to a team consisting of mere acquaintances?

Answer 24

d) A lack of understanding of the other’s values.

Question 25

Research on entrepreneurial teams has traditionally emphasized the upper
echelons perspective. What is true about this perspective?

Answer 25

b) It focuses on exploring the relationship between team characteristics and
new venture performance.

Question 26

The most important criterion to get a VC investment is

Answer 26

the Team

Question 27

A pharmaceutical company that applies for the approval of its established pain
killers as a new medication to prevent cancer follows:

Answer 27

c) A market development strategy.

Question 28

The choice of which entry modes is explained be the Eclectic Theory?

Answer 28

b) Export, Franchising, and Subsidiary.

Question 29

Which is true about Joint Ventures regarding foreign market entry?

Answer 29

b) Joint Ventures can be the solution to local ownership restrictions as an
institutional barrier for market entry.

Question 30

In the early days of the Head Ski Company, it only produced and sold high-tech
skis in the US market. Which of the following would, according to the Anshoff
Matrix, NOT be an example of a diversification strategy for this case?

Answer 30

c) Sell skis in diverse markets, such as Europe, Argentina and Japan.

Question 31

Increasing the marketing budget to encourage existing customers to upgrade
their products is referred to as:

Answer 31

d) Penetration strategy.

Question 32

The company The Body Shop, founded by Anita Roddick, generates profits by
selling organic, ethically produced beauty products. The company also funds
many global projects that work for environmental and social change. Which type
of entrepreneurship describes The Body Shop best?

Answer 32

c) Sustainable entrepreneurship

Question 33

Which of the following ventures can be classified as an example of sustainable
entrepreneurship?

Answer 33

c) Founded in Berlin in 2017, the company Share generates profits by
selling water in fully recycled environmentally-friendly plastic bottles
(among other products). With every water bottle sold, the company funds
one day of drinking water for one person from a poor country.

Question 34

What is NOT true about sustainable entrepreneurship?

Answer 34

b) Sustainable entrepreneurs do not pay taxes

Question 35

Social entrepreneurs …

Answer 35

c) … put their focus on social as well as economic aspects.

Question 36

Jonathan, the founder of pläin, talked about the network that supports the startup team. Now consider the Business Model Canvas of pläin. What is true about
this business model?

Answer 36

a) The Hochschule Weihenstephan Triesdorf is one of pläin’s key partners.

Question 37

Wolfgang, the founder of the start-up FARMINSECT, used the design thinking
approach when they started working on their company. In our lecture, Wolfgang
explained the most important steps they went through in following this process
during the very early phase of founding the company. Which of the following was
the very first step for Wolfgang and his team?

Answer 37

b) Understanding the requirements of the insects and of the customer.