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Exam 1: Exploring Entrepreneurship

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Question 21

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Match the following stages of the Tuckman model to the typical communication patterns within the entrepreneurial team. -Forming.

A) Fairly open and multilateral exchanges as people seek an initial indication of each others' capabilities and potential roles.
B) Greater attention to feedback as team leaders confirm consent and establish roles.
C) Strong bilateral, persuasive communication as members exchange arguments.
D) Bilateral exchanges between team members engaged in delegated roles, with some multilateral communication to ensure activities are co-ordinated.

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Question 22

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Match the following terms to their definitions. -Current liabilities.

A) The difference between total assets and total liabilities
B) Sum of creditors, accrued liabilities and tax owed
C) The value of the company's worth
D) The amount a company owes to other entities

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Question 23

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Complete the statement dealing with individual perspectives on entrepreneurship ______ approaches are still widely used by practitioners, teachers and researchers. One of the most common applications is ______ designed to ______ or evaluate ______

Match these types of examples with the relevant decisions. -The founders of Eco-Dry secure financial resources from a number of sources, including their own family and friends. They also decide to recruit an experienced technology entrepreneur in order to increase their credibility with potential investors and business partners.

Match their titles to their descriptions: -Infrastructure management.

Match their titles to their descriptions: -Financial aspects.

Fill in the missing words for this discussion of a cashflow forecast. The cash flow forecast is based on a number of key ______ , which vary depending on the ______ and the ______ of the forecast.

Match the following stages of the Tuckman model to the relevant outline of activity in a new venture. -Storming.

Complete the following statements: Firstly, establishing a shared vision for the venture requires that members of the team start out with an essentially similar set of ______ about what they want to ______. Secondly, members of the team need to begin with a broadly similar set of values regarding the proposed venture. In this context, the term values refers to ______ and ______ regarding the kind of venture you want to establish and your general approach to the task. Thirdly, we need to consider the motivation of individual team members. There are two relevant aspects to motivation: the ______ of the motivation (i.e. what are the factors driving this person to take part in the venture?); and its ______ (i.e. how strongly is the person driven to contribute to the success of the venture?).

Match the following elements of a business plan with their descriptions. -The business opportunity.

Complete the quotation from Low and Macmillan. '______ and methodological problems associated with these past ______ studies, such as non-comparable samples, bias toward successful entrepreneurs, and the possibility that observed entrepreneurial traits are the ______ of entrepreneurial experience, make it difficult to interpret the results. Furthermore, at a more fundamental level, it can be argued that the ______ among entrepreneurs make any attempt to develop a standard ______ profile futile.'

Match the following profit measures to their definitions. -Net profit.

Complete the following statement. One of the key skills of successful entrepreneurs is being able to identify ______ and to recognize the ______ that they make possible.

This question should be completed after reading the Introduction to Chapter Five. Complete the following sentences by choosing the appropriate selection for each gap. Two competencies for marketing (in large organizations) are, ______ and ______. The management of entrepreneurial marketing is characterized by ______, ______, ______.

Please fill the gaps in this quote about social enterprises' success, by John Elkington. "Social enterprises' success often depends upon their ability to satisfy the three-pronged fork of ______, ______, and ______."

Match the disciplinary perspective with the insights that they have provided into entrepreneurship or the methods that they have used -A focus on archive-based research (e.g. investigating early company documents, personal diaries, trade publications etc.) .

Match the following terms to their definitions. -Owners' equity.

Match the following stages of the Tuckman model to the relevant outline of activity in a new venture. -Forming.

Complete the following sentence by choosing the appropriate phrase for each gap. The 20th century political economist, Friedrich von Hayek first used the term ______ to refer to the kind of specialised local knowledge that an entrepreneur might use from day to day in order to secure a profit. Hayek contrasted this with the ______ used in economics; an example of this would be the correlation between R&D spillovers and economic growth, which has no immediate practical implications for entrepreneurial practice.

Fill in the missing words for this discussion of what different types of financiers are looking for: But, whereas ______ will want capital ______ over an agreed term, investors will probably be looking for significant ______ on an ______ investment.