Entrepreneurship Theories: Economic Theory

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Match the entrepreneurship theory with its key argument:

Economic theory = Entrepreneurs are motivated by the opportunity to make a profit. Sociological theory = Entrepreneurs are influenced by not only by economy but also their social environment.

Match the entrepreneurship theory with its description:

Economic theory = Entrepreneurs are risk-takers who are willing to invest their time and resources in order to create a new business. Sociological theory = Entrepreneurs are more likely to start a business if they have access to resources, such as capital, education, and networks.

Match the entrepreneurship theory with its impact on the economy:

Economic theory = All the changes in the economy are set off by the entrepreneur. Sociological theory = Entrepreneurship & economic growth will take place in situations where particular economic conditions are most favorable.

Match the entrepreneurship theory with its key qualities needed by an entrepreneur:

Economic theory = N/A Sociological theory = Optimistic outlook and dynamic qualities Signup and view all the answers

Match the entrepreneurship theory with its view on difficulties and challenges:

Economic theory = N/A Sociological theory = Finds difficulties challenging and stimulating; thrives on them. Signup and view all the answers

Match the following entrepreneurial theories with their key concepts:

Need for achievement theory = Strong desire for high achievement Innovation theory = Ability to create new businesses through innovation Leadership theory = Entrepreneurs as leaders who motivate and inspire others Theory of social behavior = Entrepreneurs motivated by desire to conform to social expectations Signup and view all the answers

Match the following psychological traits with their impact on entrepreneurs:

Need for high achievement = Formed during upbringing emphasizing standards of excellence Vision or foresight = Ability to innovate and create new businesses Low father dominance = Motivated by desire to escape from low-status job or social position Change-agent description = Desire to succeed and make a difference in the world Signup and view all the answers

Match the following motivational needs with their descriptions:

Need for power = Likes to order others and demand obedience Need for affiliation = Maintains friendly relations, involves employees in decision making Need for achievement = Driven by desire to succeed and make a difference in the world Innovation quality = Introduction of new product, new method of production, finding new market or source of supply Signup and view all the answers

Match the following entrepreneurial theories with their influence on social behavior:

Leadership theory = Affects the supply of entrepreneurship and attainment of entrepreneurial goals Theory of social behavior = Entrepreneurs more likely to start a business if they believe it is what is expected of them Status withdrawal theory = Motivates entrepreneurs by desire to escape from low-status job or social position Innovation theory = Directly affects the supply of entrepreneurship Signup and view all the answers

Match the following concepts with their impact on entrepreneurship:

Innovation quality = One of the most important qualities affecting entrepreneurship, e.g. introduction of new product, new method of production Need for power = Affects entrepreneurial behavior by liking to order others and demand obedience Low father dominance = Impacts the formation of psychological characteristics in entrepreneurs emphasizing standards of excellence Vision or foresight = Enables entrepreneurs to innovate and create new businesses Signup and view all the answers