20 Questions
What is the entrepreneurial mindset characterized by?
Creating value, recognizing opportunities, making decisions with limited information, and being adaptable and resilient
What is the focus of more recent debates on entrepreneurship according to the text?
Corporate entrepreneurs and everyday entrepreneurs
Who among the following scholars proposed the 'effectuation' theories?
Sarasvathy
What are some common myths around entrepreneurship that are a bit outdated?
Only extroverts, only born and cannot be learned, risk takers, ambitious, wealthy
What is the primary motivator for entrepreneurs, according to the text?
Financial rewards
Which type of start-up firm focuses on creating and disseminating value to customers, and seizes opportunities for innovation?
Entrepreneurial Firms
What does execution intelligence involve for successful entrepreneurs, as per the text?
Formulating business models
According to the Global Entrepreneurship Monitor (GEM) study, what does Total Early Stage Entrepreneurial Activity (TEA) consist of?
Businesses that are just being started and businesses that have been in existence for less than three and a half years
What is the reality concerning the myth that entrepreneurs are primarily motivated by money?
Entrepreneurs prioritize having a broader purpose over money
What is the primary motivation for entrepreneurial activity according to the GEM study?
Making a difference in the world
What is the process of entrepreneurship defined as?
The process by which individuals pursue opportunities without regard to resources they currently control for the purpose of exploiting future goods and services
What is one of the most persuasive indications of entrepreneurship’s importance to an individual or a firm?
The degree of effort undertaken to behave entrepreneurially
What is the term used to describe individuals who start businesses at a younger age and launch more companies?
Millennipreneurs
According to Joseph Schumpeter's concept of creative destruction, what do entrepreneurs do?
Make existing products and technologies obsolete
What is the primary impact of small innovative firms on industries like smart grids, solar energy, batteries, and fuel cells?
Leading in patent activity
What does the 'SEARCH' method stand for in the context of evaluating innovative ideas for venture creation?
Scan, Expand, Adapt, Revise, Create, Harvest
Which step of the Creative Problem Solving Model (CPS) involves identifying the actual causes of a problem?
Fact-finding
In the ALUO method, what does 'L' represent?
Limitations
In the 'Give Me 5' method, what does the second question ask for?
Anticipated developments in the branch of industry
What is the purpose of the 'Give Me 5' method?
To encourage brainstorming and creativity in venture creation
Test your understanding of the importance of perseverance and persistence in entrepreneurship. Learn how to handle feedback and challenges while staying motivated.
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