Module 1 Flashcards
Entrepreneurs would sign contracts with a money person to source good globally.
a. Early periods
b. Middle Ages
c. 17th Century
d. Today
a.
Entrepreneurs were actors and people who managed large production projects.
a. Early periods
b. Middle Ages
c. 17th Century
d. Today
b.
Entrepreneurs entered into contractual arrangements with the government.
a. Early periods
b. Middle Ages
c. 17th Century
d. Today
c.
Secular trends of globalization pushing international entrepreneurs.
a. Early periods
b. Middle Ages
c. 17th Century
d. Today
d.
What are the fundamental impulse that sets and keeps the capitalist engine in motion?
a. New consumers’ goods
b. New methods of production or transportation
c. Capitalism
d. New markets
e. New forms of industrial organization
f. All of those
a.b.d.e.
What is the process of “creative destruction”?
The opening of new markets and the organizational development illustrate the same process of industrial mutation that incessantly revolutionizes the economic structure from within, incessantly destroying the old one, incessantly creating a new one
True or false. Entrepreneurship is the process of creating something new and assuming the risks and rewards from and during this process.
True
Name the 3 different types of opportunity.
Recognition, evaluation, exploitation
Privately held; usually achieves only modest growth.
a. Lifestyle firm
b. Fooundation company
c. High-potentional venture
a.
Created from research and development/technology push-based. Lays the foundation for a new business era.
a. Lifestyle firm
b. Foundation company
c. High-potentional venture
b.
Receives the greatest investment interest and publicity. Starts out like a foundation company but attains rapid growth. Strong combination of market pull and technology push.
a. Lifestyle firm
b. Fooundation company
c. High-potentional venture
c.
Is sustainability a key aspect of global ventures?
Yes
How does the economic system of Earth affects development?
The world economy does not stand up to the test of sustainable development because Earth is largely a closed system with limits to growth.
How does the MacKelvey Box (reserves and (non-renewable) resource efficency) work?
Reserve of a raw material can increase if its (world market) price increases and if additional new drills or pits/mine shafts are created, but not if equal or even better substitutes enter the market. To compare reserves with consumption is no safe method to measure resource scarcity.
