Globalization and Entrepreneurial Mindset Quiz

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What is the born-global approach?

A strategy that leverages the assets of established firms with global operations to gain access to foreign customers and networks
A strategy where a startup first operates in its home market and then enters foreign markets sequentially
An export strategy involving trade restrictions and tariffs
An approach that calls for a startup to address the needs of a global market from inception (correct)

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 (correct)
A product or service targeting only foreign customers
A product or service that follows a conventional staged approach to internationalization
A product or service designed for a local market

What does the text suggest about entrepreneurs and globalization?

Entrepreneurs can only operate in their home market
Entrepreneurs should not assess their global networks
Globalization does not create any new opportunities for entrepreneurs
Only those who take up the opportunities in globalization can be seen as having an entrepreneurial mindset (correct)

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 (A) Signup and view all the answers

What does the born-global approach provide according to the text?

An alternative to addressing the needs of a global market from inception (B) Signup and view all the answers

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 (B) Signup and view all the answers

What is an essential characteristic for someone to be seen as having an entrepreneurial mindset?

Taking up opportunities in the global market (B) Signup and view all the answers

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 (C) Signup and view all the answers

What is a key requirement for pursuing global opportunities as mentioned in the text?

Assessing and creating global networks (D) Signup and view all the answers

What does a minimum viable product or service need to do according to the text?

Generate revenue and motivate customers to provide feedback (B) Signup and view all the answers

What is emphasized as essential for global business according to the text?

Gaining access to foreign customers and networks (D) Signup and view all the answers

What is suggested about leveraging the assets of established firms with global operations?

It helps gain access to foreign customers and networks (C) Signup and view all the answers

What is the main focus of the born-global approach?

To build a company that is born with a global reach (B) Signup and view all the answers

According to Gartner (1989), what did he emphasize about entrepreneurs?

Once an entrepreneur, always an entrepreneur (A) Signup and view all the answers

Which of the following traits is associated with having an entrepreneurial mindset?

Obsessing over cash flow and loving challenge (A) Signup and view all the answers

According to Fayolle (2003), what did he emphasize about the characteristics of entrepreneurship?

The characteristics of entrepreneurship can be attained through knowledge and skills (C) Signup and view all the answers

What is one of the signs of having an entrepreneurial mindset according to entrepreneur.com?

Being resourceful and recovering quickly (C) Signup and view all the answers

What do truly empowered people work in based on the text?

Careers they love (A) Signup and view all the answers

What does embracing imperfect moments cultivate according to the text?

Cultivate empowerment during times of challenge and refinement (A) Signup and view all the answers

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 (D) Signup and view all the answers

What is one of the steps to personal empowerment according to entrepreneur.com?

Run your own race (C) Signup and view all the answers