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Entrepreneurship Lecture 1: Entrepreneurial Ideas and Ecosystems

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Entrepreneurship Lecture 1: Entrepreneurial Ideas and Ecosystems

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Questions and Answers

What is the entrepreneurial mindset characterized by?

Being extroverted and ambitious
Avoiding risk and uncertainty
Being wealthy and born with entrepreneurial skills
Creating value by recognizing and acting on opportunities (correct)

According to Schumpeter (1934), what does 'creative destruction' refer to?

The elimination of inefficient businesses
The collaboration between different industries
The disruption caused by innovation and entrepreneurship (correct)
The process of replacing old technologies with new ones

What does Gartner (1990) discuss when talking about entrepreneurship?

The connection between everyday entrepreneurs and wealthy individuals
The characteristics of successful entrepreneurs
The importance of corporate entrepreneurship (correct)
The role of government in fostering entrepreneurship

What is Sarasvathy's (2001) theory of effectuation centered around?

Minimizing risks and uncertainties (C) Signup and view all the answers

What is the recent debate around entrepreneurship focused on?

Different types of entrepreneurs such as 'corporate' and 'everyday' (D) Signup and view all the answers

What does the GEM study track in 115 countries?

Early stage entrepreneurial activity (B) Signup and view all the answers

What does the word 'entrepreneur' derive from?

French words entre and prendre (B) Signup and view all the answers

What is Total Early Stage Entrepreneurial Activity (TEA) composed of?

Businesses just being started and businesses in existence for less than three and a half years (C) Signup and view all the answers

What is the primary motivation for entrepreneurial activity according to the GEM study?

All of the above (D) Signup and view all the answers

What is entrepreneurship defined as in the text?

The process of turning an idea into a business. (B) Signup and view all the answers