Entrepreneurship and Organizational Learning
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Questions and Answers

What can entrepreneurs learn from failure?

  • How to avoid taking risks
  • How to always succeed
  • How to succeed without trying
  • How to pick themselves back up when they stumble (correct)

    • Entrepreneurs are generally afraid of taking risks.

    False

    Why is it important for entrepreneurs to be brave?

    To stand up for themselves against bullies such as banks, government officials, rivals, and lawyers.

    Entrepreneurs must be willing to _______________ and learn from their failures.

    <p>take risks</p> Signup and view all the answers

    What is a common trait among entrepreneurs?

    <p>Unafraid to learn from failure</p> Signup and view all the answers

    Running a business is easy and requires little effort.

    <p>False</p> Signup and view all the answers

    Match the entrepreneurial traits with their descriptions:

    <p>Unafraid of failure = Able to learn from mistakes Happy to work hard = Willing to put in effort to achieve goals Brave = Able to stand up for oneself against obstacles</p> Signup and view all the answers

    Why is hard work important for entrepreneurs?

    <p>Because it allows them to achieve their goals and create the life they want to lead.</p> Signup and view all the answers

    What is the key trait that allows the author to speak to large groups about their business plans?

    <p>Competent writing skills</p> Signup and view all the answers

    Entrepreneurs are never hungry for information and always have all the answers.

    <p>False</p> Signup and view all the answers

    What is the benefit of having an inquisitive nature as an entrepreneur?

    <p>It helps resolve unknowns when starting a business by seeking information and expert advice.</p> Signup and view all the answers

    The age-old saying 'it's not what you know, it's who you ______________' applies to running a small business.

    <p>know</p> Signup and view all the answers

    What is the primary benefit of being a good networker?

    <p>Forming bonds of mutual need and friendship</p> Signup and view all the answers

    What is the key to being a natural networker?

    <p>Ability to make contacts and see how one person's problem might be another's solution.</p> Signup and view all the answers

    Having a ______________ nature is crucial for entrepreneurs.

    <p>passionate</p> Signup and view all the answers

    Match the following entrepreneurial traits with their descriptions:

    <p>Inquisitive = Always seeking information and answers Networker = Forming bonds of mutual need and friendship Passionate = Having a strong enthusiasm for business Competent writer = Able to communicate effectively through writing</p> Signup and view all the answers

    What is the characteristic of a culture with high individualism and low power distance according to Hofstede's findings?

    <p>More innovative and more entrepreneurial</p> Signup and view all the answers

    According to Johnson (2001), an entrepreneur is someone who avoids risks and difficulties.

    <p>False</p> Signup and view all the answers

    What are the two main dimensions of Trompenaars and Woolliams' (2003) model of organisational culture?

    <p>One represents how egalitarian or hierarchical a culture is, and the other represents to which extent the culture is oriented towards the person or towards the task.</p> Signup and view all the answers

    According to Hofstede's findings, societies with high individualism and low power distance tend to have a higher _______________________ and a greater tendency to innovate.

    <p>economic growth</p> Signup and view all the answers

    Match the following entrepreneurial characteristics with their definitions:

    <p>Takes agency and initiative = Is proactive in taking action Assumes responsibility and ownership for making things happen = Is responsible for making things happen Is open to and able to create novelty = Is able to create new ideas Manages risks = Has the persistence to see things through to some identified end-point</p> Signup and view all the answers

    What is the characteristic of an entrepreneur according to Johnson (2001)?

    <p>Is open to and able to create novelty</p> Signup and view all the answers

    According to Trompenaars and Woolliams' (2003) model, the incubator culture type is not conducive to entrepreneurship.

    <p>False</p> Signup and view all the answers

    What is the characteristic of a culture with low uncertainty avoidance according to Hofstede's findings?

    <p>It encourages pro-innovative culture and entrepreneurship.</p> Signup and view all the answers

    Study Notes

    Organizational Innovation and Entrepreneurship

    • Organizational innovation and learning jointly promote organizational entrepreneurship and increase competitive advantage.
    • Strengthening strategic capabilities is necessary to achieve adequate levels of organizational innovation and improvement.

    Entrepreneurial Behavior

    • 9 types of entrepreneurial behavior:
      • Unafraid of failure: learning from mistakes and persevering.
      • Happy to work hard: passionate about work and willing to put in effort.
      • Brave: standing up against adversity and taking risks.

    Hofstede's Findings

    • Societies with high individualism and low power distance have higher economic growth and innovation.
    • Weak uncertainty avoidance encourages pro-innovative culture and entrepreneurship.

    Entrepreneurship and Organizational Culture

    • Trompenaars and Woolliams' (2003) model: organizational culture is based on egalitarianism/hierarchy and person/task orientation.
    • Four culture types: incubator, guided missile, family, and Eiffel tower; incubator and guided missile have strong links to entrepreneurship.

    Defining Entrepreneurship

    • Johnson's (2001) definition: an entrepreneur takes initiative, assumes responsibility, creates novelty, manages risks, and persists despite obstacles.

    Additional Entrepreneurial Traits

    • Inquisitive: seeking knowledge and asking questions.
    • Networker: building relationships and making connections to achieve mutual benefits.
    • Passionate: driven by enthusiasm and dedication.

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    Related Documents

    Entreprenerial behaviour.pptx

    Description

    This quiz explores the relationship between organizational innovation, learning, and entrepreneurship, highlighting key traits and behaviors of entrepreneurs. It also discusses the importance of strategic capabilities in achieving competitive advantage.

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