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Questions and Answers
Who proposed the Innovation Theory?
J.A. Schumpeter
According to Schumpeter, an entrepreneur introduces new combinations such as a new good, a new method of production, a new market, a new source of supply, or a new ________ of any industry.
organization
An innovator is the same as an inventor according to Schumpeter.
False
What does the Need for Achievement Theory focus on?
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According to McClelland, individuals with high need achievement are motivated by which of the following?
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Who emphasized the ethical value system's impact on entrepreneurial growth?
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Weber believed that Jews failed to develop industrial capitalism due to their ethical value system.
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Weber's theory links entrepreneurial energies to the adoption of ________ beliefs.
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Study Notes
Innovation Theory
- Proposed by Joseph Schumpeter
- Entrepreneurs introduce new combinations
- New good
- New method of production
- New market
- New source of supply
- New organization of any industry
- Innovator is not the same as an inventor
Need for Achievement Theory
- Focuses on individual motivation
- Proposed by David McClelland
- Individuals with high need achievement are motivated by:
- Achievement
- Recognition
- Responsibility
Weber's Theory of Entrepreneurship
- Emphasized ethical value system's impact
- Claimed Jews failed to develop industrial capitalism due to their ethical value system
- Links entrepreneurial energies to the adoption of Protestant beliefs
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Description
Explore the key concepts of Innovation Theory as proposed by Joseph Schumpeter and the Need for Achievement Theory developed by David McClelland. This quiz delves into the roles of entrepreneurs as innovators and the internal factors that drive economic growth. Test your knowledge of these influential theories in entrepreneurship.
