Entrepreneurial Management Concepts

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Questions and Answers

In which decade did the number of employees in Durable Goods Manufacturing experience a significant decrease?

  • 1950s (correct)
  • 1960s
  • 1970s
  • 1980s

Which sector, Durable Goods Manufacturing or Nondurable Goods Manufacturing, had the higher number of employees in the 2000s?

  • Durable Goods Manufacturing (correct)
  • They had equal numbers of employees
  • The text does not provide this information
  • Nondurable Goods Manufacturing

During which decade did the number of employees in Nondurable Goods Manufacturing see a consistent increase?

  • 1930s
  • 1960s (correct)
  • 1950s
  • 1940s

Why are aspiring entrepreneurs often wary of implementing traditional management practices early on in a startup?

<p>They fear it will stifle creativity. (C)</p> Signup and view all the answers

What is the main concern entrepreneurs face when trying to implement general management principles in startups?

<p>Adapting unique problems to general management principles. (B)</p> Signup and view all the answers

What is the consequence of entrepreneurs adopting a 'just do' attitude and avoiding management processes and discipline?

<p>Chaos rather than success. (C)</p> Signup and view all the answers

What key functions of an early-stage venture should a comprehensive theory of entrepreneurship address?

<p>Vision and concept, product development, marketing and sales, scaling up, partnerships and distribution, structure and organizational design (A)</p> Signup and view all the answers

What type of decision-making guidance must a theory of entrepreneurship offer to entrepreneurs?

<p>Trade-off decisions like investing in processes, infrastructure, partnerships, and scaling the business (A)</p> Signup and view all the answers

What should entrepreneurs build to hold teams accountable?

<p>Cross-functional teams held accountable to learning milestones (D)</p> Signup and view all the answers

What primary benefit must a theory of entrepreneurship provide entrepreneurs with?

<p>Allowing entrepreneurs to make testable predictions about their ventures (A)</p> Signup and view all the answers

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