Module 3

Question 1

Entrepreneur as risk bearer, who is seeking arbitrage.
a. Cantillon (1725).
b. Say (1803).
c. McClelland (1961).

Answer 1

a.

Question 2

Entrepreneur has specific personal characteristics and is a coordinator of production resources.
a. Cantillon (1725).
b. Say (1803).
c. McClelland (1961).

Answer 2

b.

Question 3

Entrepreneur has a strong need fo achievement, applied in the field of business and education plays an important role.
a. Cantillon (1725).
b. Say (1803).
c. McClelland (1961).

Answer 3

c.

Question 4

Entrepreneurs need to:
a. Effectuate
b. Avoid overconfidence and understand other cultures.
c. Learn from failures.
d. Speak more than one language to travel the world.
e. All of the above.

Answer 4

a.b.c.

Question 5

True or false. Entrepreneurs tend to use a causal process more often than an effectuation process.

Answer 5

False. They tend to use an effectuation process more.

Question 6

Starts with a desired outcome. Focuses on the means to generate that outcome.
a. Causal process
b. Effectuation process

Answer 6

a.

Question 7

Starts with what one has. Selects among possible outcomes.
a. Causal process
b. Effectuation process

Answer 7

b.

Question 8

Principles of effectuation: link numbers to letters
1. Bird-in-hand
2. Crazy quilt
3. Lemodade
4. Affordable loss
5. Pilot-in-the-plane

a. Prescribes committing in advance to what one is willing to lose rather than investing in calculations about expected returns to the project.
b. Prescribes leveraging surprises for benefits rather than trying to avoid them, overcome them, or adapt to them.
c. Urges relying on and working with people as the prime driver of opportunity rather tha limiting entrepreneurial efforts to exploiting factors external to the individual.
d. Means-driven action, emphasizes creation of something new with existing means rather than discovering new ways to achieve given goals.
e. Involves negotiating with any and all stakeholders who are willing to make actual commitments to the projects, without worrying about opportunity costs, or carrying out elaborate competitive analyses.

Answer 8

1d
2e
3b
4a
5c

Question 9

What is overconfidence caused by / leads to?
a. Behavioral anomalies
b. Increased risk of failure
c. Negative information
d. Positive information
e. All of the above

Answer 9

a.b.c.

Question 10

What can contribute to failure among entrepreneurial firms?

Answer 10

Uncertainty, changing conditions, insufficient experience

Question 11

True or false. Grief can interfere with the entrepreneur’s ability to learn from the failure, and can increase motivation to try again.

Answer 11

True

Question 12

Working through, and processing, some aspect of the loss experience and, as a result of this process, breaking bonds with the object loss.
a. Loss-oriented
b. Restoration-oriented

Answer 12

a.

Question 13

Based on both avoidance and a proactiveness towards secondary sources of stress arising from a major loss.
a. Loss-oriented
b. Restoration-oriented

Answer 13

b.

Question 14

True of false. Entrepreneurial intentions can be determined by motivational factors that influence individuals to pursue entrepreneurial outcomes.

Answer 14

True

Question 15

Conviction that one can successfully execute the entrepreneurial process.
a. Perceived desirability
b. Entrepreneurial self-efficacy

Answer 15

b.

Question 16

Degree to which an individual has a favorable or unfavorable evaluation of the potential entrepreneurial outcomes.
a. Perceived desirability
b. Entrepreneurial self-efficacy

Answer 16

a.

Question 17

Which one of those is not a culture dimension:
1. Long-term orientation
2. Feminity
3. Individualism
4. Power distance
5. Uncertainty avoidance
6. Indulgence

Answer 17

2.

Question 18

The degree to which the members of a culture or society orient their thinking towards the more distant future versus today.
1. Long-term orientation
2. Individualism
3. Power distance
4. Masculinity
5. Uncertainty avoidance
6. Indulgence

Answer 18

1.

Question 19

The degree of rigidity in the relations of individuals within a society.
1. Long-term orientation
2. Individualism
3. Power distance
4. Masculinity
5. Uncertainty avoidance
6. Indulgence

Answer 19

2.

Question 20

The inequality of the distribution of power.
1. Long-term orientation
2. Individualism
3. Power distance
4. Masculinity
5. Uncertainty avoidance
6. Indulgence

Answer 20

3.

Question 21

Measures the distribution of roles between genders.
1. Long-term orientation
2. Individualism
3. Power distance
4. Masculinity
5. Uncertainty avoidance
6. Indulgence

Answer 21

4.

Question 22

Measures a society’s tolerance for ambiguity and uncertainty.
1. Long-term orientation
2. Individualism
3. Power distance
4. Masculinity
5. Uncertainty avoidance
6. Indulgence

Answer 22

5.

Question 23

Measures the polarization against restraint.
1. Long-term orientation
2. Individualism
3. Power distance
4. Masculinity
5. Uncertainty avoidance
6. Indulgence

Answer 23

6.

Question 24

Classifying countries by distinguishing a secular-rational values dimension on which one extreme is
characterized by importance of religion, deference to authority, absolute standards and traditional
family values, and the opposite, secular-rational, extreme by opposing preferences.
1. World Values Survey (WVS)
2. Global Leadership and Organizational Behavior Effectiveness (GLOBE)

Answer 24

1.

Question 25

The second main dimension relates to a polarization between survival and self-expression, where
the former emphasizes economic and physical security, and the latter perceived well-being and
subjective quality of life.
1. World Values Survey (WVS)
2. Global Leadership and Organizational Behavior Effectiveness (GLOBE)

Answer 25

1.

Question 26

Approach to gauge intercultural differences based on the evaluation of the following cultural dimensions:
performance orientation, assertiveness, future orientation, humane orientation, institutional collectivism,
in-group collectivism, gender egalitarianism, power distance and uncertainty avoidance.
1. World Values Survey (WVS)
2. Global Leadership and Organizational Behavior Effectiveness (GLOBE)

Answer 26

2.

Question 27

Based on the notion that leadership in a particular country is based on the culture of that country.
1. World Values Survey (WVS)
2. Global Leadership and Organizational Behavior Effectiveness (GLOBE)

Answer 27

2.

Question 28

What makes an entrepreneur?
a. Education
b. Richness
c. Intelligence
d. Age
e. Work experience
f. All of the above

Answer 28

a.d.e.

Question 29

Improved industry and founding specific knowledge. Role it plays in helping entrepreneurs to cope with the problems they confront. Better ability to communicate clearly.
a. Education
b. Age
c. Work experience

Answer 29

a.

Question 30

Most entrepreneurs initiate their entrepreneurial careers between the ages of 22 and 45. Entrepreneurial experience is one of the best success factors. Entrepreneurial support networks are an important predictor that is partly driven by age.
a. Education
b. Age
c. Work experience

Answer 30

b.

Question 31

Dissatisfaction with aspects of one’s job often motivate the launch of a new venture. Previous technical and industry experience is important once a decision to launch is made. Previous start-up experience is a relatively good predictor of starting subsequent businesses, and related to that role models such as parents, family members, or other entrepreneurs you may know.
a. Education
b. Age
c. Work experience

Answer 31

c.

Question 32

In which areas is functional experience important?
a. Financing
b. Communication
c. Product or service development
d. Manufacturing
e. Development of distribution channels
f. Preparation of a marketing plan
g. Telecommunication
h. All of the above

Answer 32

a.c.d.e.f.