Entrepreneurial Resource Management
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Questions and Answers

What is a key aspect of controlling risk for an entrepreneur?

  • Avoiding collaboration
  • Competing with others
  • Properly calculating every step (correct)
  • Ignoring affordable loss

What is essential for entrepreneurship?

  • Isolation and secrecy
  • Avoiding sharing resources
  • Collaboration and co-creation (correct)
  • Hoarding ideas

Why should entrepreneurs share their ideas according to the text?

  • To keep ideas private
  • To decrease resources
  • To increase resources and expand possibilities (correct)
  • To limit possibilities

What is the importance of evaluating performance for an entrepreneur?

<p>To improve one's idea (C)</p> Signup and view all the answers

When should managerial thinking be applied according to the text?

<p>During times of uncertainty (C)</p> Signup and view all the answers

What does managerial thinking primarily rely on?

<p>Transparency of problems (A)</p> Signup and view all the answers

How do big companies typically use managerial thinking?

<p>Reliable and reachable information (D)</p> Signup and view all the answers

What should entrepreneurs do when failures occur?

<p>Learn from them embracing the learnings they provide (B)</p> Signup and view all the answers

What value does sharing ideas with others bring to an entrepreneur?

<p>Increase in resources and expanding possibilities available to the entrepreneur. (D)</p> Signup and view all the answers

How does evaluating performance benefit an entrepreneur?

<p>By allowing the entrepreneur to identify strengths and weaknesses of the idea. (B)</p> Signup and view all the answers

What sets serial entrepreneurs apart from classic entrepreneurs?

<p>They constantly come up with fresh ideas and start new businesses (B)</p> Signup and view all the answers

In social entrepreneurship, what is the primary focus when pursuing innovative applications?

<p>Solving community-based problems (A)</p> Signup and view all the answers

How do family businesses typically ensure their survival according to the text?

<p>By encouraging each generation to be innovative (C)</p> Signup and view all the answers

What should an entrepreneur consider in order to limit disadvantage risk?

<p>Defining their affordable loss (A)</p> Signup and view all the answers

What differentiates social entrepreneurs from traditional entrepreneurs in terms of focus?

<p>Social entrepreneurs aim to solve community-based problems (D)</p> Signup and view all the answers

What distinguishes Intrapreneurship from Entrepreneurs Inside?

<p>The organizations they function in (A)</p> Signup and view all the answers

What is a distinguishing factor of buying a Franchise compared to buying a Small Business?

<p>The branding opportunity (B)</p> Signup and view all the answers

What is the main reason Google allows its employees time for innovative projects?

<p>To encourage intrapreneurship (A)</p> Signup and view all the answers

What does an Intrapreneur typically do within a big corporate organization?

<p>Develop high-risk, high-reward concepts (D)</p> Signup and view all the answers

How does buying a Small Business differ from starting a business from scratch?

<p>It involves taking over an existing establishment (B)</p> Signup and view all the answers

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