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?

    <p>Minimizing risks and uncertainties</p> Signup and view all the answers

    What is the recent debate around entrepreneurship focused on?

    <p>Different types of entrepreneurs such as 'corporate' and 'everyday'</p> Signup and view all the answers

    What does the GEM study track in 115 countries?

    <p>Early stage entrepreneurial activity</p> Signup and view all the answers

    What does the word 'entrepreneur' derive from?

    <p>French words entre and prendre</p> Signup and view all the answers

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

    <p>Businesses just being started and businesses in existence for less than three and a half years</p> Signup and view all the answers

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

    <p>All of the above</p> Signup and view all the answers

    What is entrepreneurship defined as in the text?

    <p>The process of turning an idea into a business.</p> Signup and view all the answers

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