Biotechnology Entrepreneurship Fundamentals

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What is the fundamental concept of entrepreneurship in biotechnology?

Innovation in product development

Maximizing profits through marketing strategies

Effective management of existing businesses

Creation of new enterprise (correct)

What is a key characteristic of a bioentrepreneur in the biotechnology industry?

Transformation from scientist to entrepreneur (correct)

Minimal reliance on intellectual property management

Limited knowledge about market trends

Exclusive focus on personal research projects

How does competitive advantage in the biotechnology industry relate to good science?

It is unrelated to scientific knowledge or research

It depends on effective management of intellectual property from good science (correct)

It is based on exclusive access to venture capital

It is achieved through aggressive marketing tactics

What is entrepreneurship considered as?

A process of continuous growth and change (C) Signup and view all the answers

What are the two major forces influencing the development of industries in the biotechnology context?

Market forces and intellectual property (C) Signup and view all the answers

How do the market forces approach and the scientific and technical forces approach differ?

The market forces approach originates influences on development from the market, while the scientific and technical forces approach focuses on intellectual property and intellectual capital. (C) Signup and view all the answers

Why are the market forces and the desire to commercialize ideas considered major influencers in biotechnology industries?

They contribute to the revenue stream and return to investors. (D) Signup and view all the answers

What best describes the relationship between the two major forces influencing industry development in high technology industries?

They are competing explanations for industry growth. (C) Signup and view all the answers

What is the fundamental concept of entrepreneurship in biotechnology?

Creating new enterprises in a science-based industry (C) Signup and view all the answers

What best describes the bioentrepreneur in the biotechnology industry?

A scientist/researcher turned entrepreneur seeking to commercialize research successes (B) Signup and view all the answers

What observation about entrepreneurship is appropriate for the bioentrepreneur?

It is a process of becoming rather than a state of being (D) Signup and view all the answers

In the context of biotechnology, what is the main source of competitive advantage?

Effective management of intellectual property from good science (C) Signup and view all the answers

What is the primary influence of market forces on the development of biotechnology industries?

Commercializing ideas and research (D) Signup and view all the answers

How are the market forces and the scientific and technical forces typically treated?

As competing forces in industry development (A) Signup and view all the answers

What do the market forces approach and the scientific and technical forces approach provide in explaining industry development in high technology industries?

Analogy or parallax view of industry development (C) Signup and view all the answers

What is a key characteristic of bioentrepreneurship in the biotechnology industry?

Dependence on intellectual property and intellectual capital (B) Signup and view all the answers

Biotechnology Entrepreneurship Fundamentals

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Questions and Answers

What is the fundamental concept of entrepreneurship in biotechnology?

What is a key characteristic of a bioentrepreneur in the biotechnology industry?

How does competitive advantage in the biotechnology industry relate to good science?

What is entrepreneurship considered as?

What are the two major forces influencing the development of industries in the biotechnology context?

How do the market forces approach and the scientific and technical forces approach differ?

Why are the market forces and the desire to commercialize ideas considered major influencers in biotechnology industries?

What best describes the relationship between the two major forces influencing industry development in high technology industries?

What is the fundamental concept of entrepreneurship in biotechnology?

What best describes the bioentrepreneur in the biotechnology industry?

What observation about entrepreneurship is appropriate for the bioentrepreneur?

In the context of biotechnology, what is the main source of competitive advantage?

What is the primary influence of market forces on the development of biotechnology industries?

How are the market forces and the scientific and technical forces typically treated?

What do the market forces approach and the scientific and technical forces approach provide in explaining industry development in high technology industries?

What is a key characteristic of bioentrepreneurship in the biotechnology industry?

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