Kafli 13 (lauslega) Flashcards
Which of the following companies is most likely to demonstrate high entrepreneurial intensity?
A.
A footwear manufacturing company that focuses on classic footwear designs rather than risking launching new styles
B.
A soda company that comes up with a few different flavours of soda every year based on its market research
C.
An apparel company that floods the market with knockoffs as soon as the major fashion houses launch new designs
D.
A home appliance store expands its product range to compete with a neighbouring store when it introduces new products
B.
A soda company that comes up with a few different flavours of soda every year based on its market research
Identify the scenario that demonstrates social entrepreneurship.
A.
A company that treats its wastewater and removes pollutants before releasing it in a natural water body
B.
A company that promotes its employees to senior positions rather than hiring senior management externally
C.
A company that holds annual sales of its premium products so that people can buy them at a lower price
D.
A company that gives a textbook to a disadvantaged child for every textbook it sells
D.
A company that gives a textbook to a disadvantaged child for every textbook it sells
Megan works for an apparel retail store. For the past eight years, she has worked hard hoping to eventually get promoted to the position of the store manager. However, the management decides to hire an external candidate for the position. Megan feels that she cannot grow further in her organisation and decides to quit the job to start her own apparel business. According to Barringer and Ireland (2016), which of the three motives is driving Megan to become an entrepreneur in the given scenario?
A.
Independence
B.
Pursuing an idea
C.
Making money
D.
Boredom
A.
Independence
According to Barringer and Ireland (2016), who among the following is most likely to start their own business?
A.
Lucy, a hotel manager, who has many years of experience in the hospitality industry and is considered to be an exceptional manager by her employees, colleagues, and the management
B.
Karim, a grocery store cashier, who is hard working and ambitious and wants to grow in the organisation
C.
Bilal, a chemical engineer at a mattress company, who is passionate about the new kind of foam he has developed for mattresses but cannot get his management interested in it
D.
Nina, a clothing enthusiast, who is dissatisfied with the level of service in the store where she shops
C.
Bilal, a chemical engineer at a mattress company, who is passionate about the new kind of foam he has developed for mattresses but cannot get his management interested in it
According to Barringer and Ireland (2016), which of the following is a motive that drives entrepreneurs but is usually a secondary motive rather than a key driver?
A.
Pursuit of an idea
B.
Making money
C.
Independence
D.
Need for achievement
B.
Making money
Amina has many years of experience in the event management business. She has created a solid network of clients and wants to start her own event management company. She has approached a prospective investor. During one of the meetings, she tells the investor about the clients who have already agreed to work with her for their corporate events. In the given scenario, which of the following catalysing strategies is Amina using to attract the investor?
A.
Casual dating
B.
Scrutinising interest
C.
Amplifying signals of progress
D.
Crafting alternatives
C.
Amplifying signals of progress
Which of the following statements is true of entrepreneurial marketing?
A.
It is methodical and systematic.
B.
It does not make an efficient use of opportunities.
C.
It relies on casual and personal networking.
D.
It usually does not lead to customer satisfaction.
C.
It relies on casual and personal networking.
According to Jones and Rowley (2011), informal marketing practices of entrepreneurial marketing can be attributed to unique contexts in which they occur. Which of the following is one of those unique contexts?
A.
Extensive informal resources
B.
Limited communication systems
C.
Influence of expert advisors
D.
Formal business practices
B.
Limited communication systems
Which of the following scenarios exemplifies creativity and innovation by a company?
A.
The R&D department of a pharmaceutical company is engaged in cancer research
B.
A chemical company selling a synthetic foam it has developed to car seat manufacturing companies
C.
The management of a pharmaceutical company has sanctioned a large budget for research on malarial parasite.
D.
The R&D department of a chemical company has created a synthetic rubber with an exceptional shock absorbent property
B.
A chemical company selling a synthetic foam it has developed to car seat manufacturing companies
Steve, the CEO of an advertising agency, wants to hire a Creative Director for the agency. He wants to hire a person who has consistently demonstrated out-of-the-box thinking in the past. The person should be able to think in innovative ways, spot an idea with potential and have the skill to convince others of the merit of the idea. In the context of the six distinct characteristics on which creativity depends, which of the following characteristics of the candidate is Steve focusing on in the given scenario?
A.
Intellectual abilities
B.
Motivation
C.
Knowledge
D.
Personality
A.
Intellectual abilities
How can the management of a company positively influence the perception of context to ensure that the staff thinks that finding creative ways to solve a problem is worth the effort?
A.
By creating time pressures
B.
By ensuring that creativity is not made an explicit part of job roles
C.
By exclusively hiring people who are experienced and knowledgeable
D.
By increasing the freedom to make decisions
D.
By increasing the freedom to make decisions
While doing research on bacteria, Alexander Fleming noticed that some of the Petri dishes containing bacteria had developed mould. He realised that the bacteria in those Petri dishes were dying. On further investigation, he found that the mould inhibited the growth of bacteria. This led to the discovery of penicillin. In the context of sources of innovation, which of the following types of innovation does this scenario exemplify?
A.
Kaizen
B.
Co-creation
C.
Open innovation
D.
Accidental innovation
D.
Accidental innovation
Why is it important for innovative companies to understand changing customer needs?
A.
To facilitate a systematic process for generation of new ideas
B.
To take advantage of open innovation
C.
To encourage co-creation
D.
To judiciously invest the limited resources
D.
To judiciously invest the limited resources
Which of the following statements is true of organisations that depend on innovation?
A.
They are driven by internal push rather than by changing customer needs.
B.
They focus solely on R&D efforts rather than marketing or sales.
C.
They develop training programs focussed on facilitating generation of ideas.
D.
They develop systematic processes to invest their resources into ideas with potential for success.
D.
They develop systematic processes to invest their resources into ideas with potential for success.
