BM2313 Entrepreneurial Thinking

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Questions and Answers

What is the primary role of curiosity in entrepreneurial thinking?

To seek out new ideas and experiences (correct)

To maintain the status quo

To conform to societal expectations

To accept established norms

Which dimension of Egon Zehnder’s model is considered the most important?

Insight

Curiosity (correct)

Determination

Engagement

How does curiosity impact job performance according to the research?

It has no significant impact

It only affects personal satisfaction

It influences performance and innovative behaviors (correct)

It consistently hinders performance

What is a key characteristic of those who are highly curious?

An openness to feedback and learning Signup and view all the answers

What does the dimension of engagement in the model refer to?

Ability to connect with others and communicate a vision Signup and view all the answers

According to Egon Zehnder’s research, how does curiosity interact with determination?

High curiosity is likely to enhance determination Signup and view all the answers

What impact does challenging assumptions have on curiosity?

It provokes curiosity and potential for change Signup and view all the answers

What are the four dimensions of Egon Zehnder's model?

Curiosity, Insight, Engagement, Determination Signup and view all the answers

What is a key characteristic of curious individuals according to Kathy Taberner?

They are supportive and focused on exploring options. Signup and view all the answers

How do curious individuals approach outcomes in discussions?

They sit in ambiguity and are open without attachment to the outcome. Signup and view all the answers

What effect does curiosity have on collaboration?

It promotes exploration of options leading to solutions. Signup and view all the answers

Which of the following describes the mindset of curious people?

Open and exploratory. Signup and view all the answers

What approach do curious individuals take when faced with challenges?

They collaboratively explore various solutions. Signup and view all the answers

What is the suggested follow-up question to ask the client regarding payment?

What steps must you go through to issue a payment? Signup and view all the answers

What is the potential benefit of suggesting credit card payment to the client?

It can speed up the payment process. Signup and view all the answers

What percentage of time are Google employees encouraged to spend on new ideas according to the 20% rule?

20% Signup and view all the answers

Which of the following is one of the management practices associated with Eric Schmidt's philosophy?

70/20/10 management model Signup and view all the answers

How much of Google's new product launches are estimated to stem from innovation time?

50% Signup and view all the answers

What is a key characteristic of curious people according to the content?

They listen without judgment. Signup and view all the answers

In education, what is believed to contribute 70% of learning according to a similar philosophy mentioned?

On-the-job experience Signup and view all the answers

What is the name of the co-founder of Google associated with the implementation of the 20% rule?

Larry Page Signup and view all the answers

What was the primary trait of the internal candidate evaluated for the CEO position?

Curiosity Signup and view all the answers

What does Egon Zehnder suggest as essential for entrepreneurial and leadership success?

Curiosity, insight, engagement, and determination Signup and view all the answers

Which aspect of questioning is emphasized as necessary for enhancing entrepreneurial curiosity?

Formulating questions that elicit detailed responses Signup and view all the answers

How did Egon Zehnder view the internal candidate's potential for overcoming weaknesses?

Possible with mentoring and support Signup and view all the answers

What is cited as an example of a poor question?

Shall I send you an invoice? Signup and view all the answers

What role did curiosity play in the internal candidate's performance as CEO?

It provided a foundation for growth and adaptation Signup and view all the answers

What can be inferred about the relationship between curiosity and leadership according to the example provided?

Curiosity enhances a leader's ability to adapt Signup and view all the answers

What factor contributed significantly to the candidate's success after taking the helm?

Support and mentoring from the board Signup and view all the answers

Study Notes

Entrepreneurial Curiosity

Curiosity drives innovation by encouraging individuals to challenge the status quo and seek new perspectives.
It serves as a vital tool against conformity, fostering creativity and long-term success.
Egon Zehnder identified four dimensions essential for adapting to volatile environments:
- Curiosity: Desire for new knowledge and experiences.
- Insight: Synthesis of information suggesting new possibilities.
- Engagement: Connecting with others and communicating a vision.
- Determination: Persistence in overcoming obstacles.
High curiosity correlates with better job performance and innovation capabilities.
Curiosity prompts responses to challenging assumptions, unlocking potential for change.

Enhancing Entrepreneurial Curiosity

Effective questioning is crucial in fostering curiosity; good questions lead to substantive answers whereas poor ones do not.
Example: A poor question like “Shall I send you an invoice?” lacks depth compared to “What steps must you go through to issue a payment?” which invites detailed responses.
Google encourages a 20% innovation time policy, allowing employees to focus on personal interest projects, leading to successful products like Gmail and Google News.
The 70/20/10 management model promotes spending 70% on core tasks, 20% on related projects, and 10% on unrelated projects to cultivate innovation.
Listening without judgment is key; curious individuals seek to understand others’ perspectives without a hidden agenda, fostering supportive collaboration.
Kathy Taberner emphasizes that curious people avoid blame and shame, focusing on exploring options collaboratively to find innovative solutions.

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Description

This quiz explores the theme of entrepreneurial curiosity, emphasizing the importance of seeking new ideas and experiences in fostering innovation. It discusses how curiosity challenges conformity and fuels creativity, making it a vital asset in entrepreneurship. Test your understanding of these concepts to enhance your entrepreneurial mindset.