21 Questions
What is the born-global approach?
An approach that calls for a startup to address the needs of a global market from inception
What is the minimum viable product or service according to the text?
A product or service that generates revenue for the company and motivates customers to provide feedback
What does the text suggest about entrepreneurs and globalization?
Only those who take up the opportunities in globalization can be seen as having an entrepreneurial mindset
What is emphasized in the context of global business according to the text?
The need for a global network of relationships that can be leveraged to find customers, champions, and partners
What does the born-global approach provide according to the text?
An alternative to addressing the needs of a global market from inception
What is suggested about leveraging the assets of established firms with global operations according to the text?
It can be used by startups to gain access to foreign customers and networks
What is an essential characteristic for someone to be seen as having an entrepreneurial mindset?
Taking up opportunities in the global market
In the context of internationalization, how does the born-global approach differ from the conventional staged approach?
It starts by addressing the needs of a global market from inception
What is a key requirement for pursuing global opportunities as mentioned in the text?
Assessing and creating global networks
What does a minimum viable product or service need to do according to the text?
Generate revenue and motivate customers to provide feedback
What is emphasized as essential for global business according to the text?
Gaining access to foreign customers and networks
What is suggested about leveraging the assets of established firms with global operations?
It helps gain access to foreign customers and networks
What is the main focus of the born-global approach?
To build a company that is born with a global reach
According to Gartner (1989), what did he emphasize about entrepreneurs?
Once an entrepreneur, always an entrepreneur
Which of the following traits is associated with having an entrepreneurial mindset?
Obsessing over cash flow and loving challenge
According to Fayolle (2003), what did he emphasize about the characteristics of entrepreneurship?
The characteristics of entrepreneurship can be attained through knowledge and skills
What is one of the signs of having an entrepreneurial mindset according to entrepreneur.com?
Being resourceful and recovering quickly
What do truly empowered people work in based on the text?
Careers they love
What does embracing imperfect moments cultivate according to the text?
Cultivate empowerment during times of challenge and refinement
What did McGrath & MacMillan emphasize about habitual entrepreneurs compared to ordinary business managers?
Habitual entrepreneurs are passionate in seeking new opportunities while avoiding unfruitful options
What is one of the steps to personal empowerment according to entrepreneur.com?
Run your own race
Test your knowledge about the impact of globalization on trade, opportunities, challenges, and the entrepreneurial mindset required to thrive in the global market. Explore the born-global approach for startups addressing global market needs.
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