Technology Entrepreneurship Lecture 2: Venture Teams & Effectuation
64 Questions
2 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What is the focus of Lecture 2 in the Introduction to Technology Entrepreneurship?

  • Effectuation Theory
  • Venture Teams (correct)
  • Role of Enterprising Individuals
  • Opportunity Activation

    • According to Shane & Venkataraman, what do entrepreneurs do?

  • Discover, evaluate, and exploit opportunities (correct)
  • Analyze market trends
  • Implement marketing strategies
  • Establish businesses

    • What type of founding teams are more likely to identify varied market opportunities according to Gruber, MacMillan, and Thompson?

  • Teams with diverse industry experience and external knowledge sourcing relationships (correct)
  • Teams with a narrow focus on one industry
  • Teams with limited external networking
  • Teams with high financial resources

    • What is the date of the briefing workshop on effectuation mentioned in the text?

    <p>November 14, 2023</p> Signup and view all the answers

    In terms of opportunity discovery, what is the role of founding teams with a more diverse background according to the text?

    <p>They identify more varied (distant) market opportunities</p> Signup and view all the answers

    What area of research does the promise of entrepreneurship refer to according to Shane & Venkataraman?

    <p>The promise of entrepreneurship as a field of research</p> Signup and view all the answers

    What does the concept of flow, as described in the text, involve?

    <p>Complete involvement and satisfaction in an activity</p> Signup and view all the answers

    According to the text, where are new opportunities found?

    <p>External changes in the environment</p> Signup and view all the answers

    What is the main focus of the human-centered design process mentioned in the text?

    <p>Understanding people's needs and desires</p> Signup and view all the answers

    In the context of venture teams and effectuation, how are new opportunities created?

    <p>From stakeholders' resources and goals</p> Signup and view all the answers

    What is the significance of diversity in a team, as mentioned in the text?

    <p>It helps in identifying more diverse market opportunities</p> Signup and view all the answers

    What does the concept of 'flow' involve, as described in the text?

    <p>Intrinsic motivation and clear proximal goals</p> Signup and view all the answers

    How are new opportunities identified before market entry for technology start-ups?

    <p>Through external search and joint action possibilities</p> Signup and view all the answers

    What shapes the number and variety of market opportunities identified before market entry for technology start-ups?

    <p>Team diversity and joint action possibilities</p> Signup and view all the answers

    In the context of venture teams and effectuation, how are new opportunities created?

    <p>From stakeholders' resources and goals</p> Signup and view all the answers

    What is the focus of the human-centered design process mentioned in the text?

    <p>Understanding people's needs and desires</p> Signup and view all the answers

    What does diversity in a team help with, as mentioned in the text?

    <p>It helps in identifying more diverse market opportunities</p> Signup and view all the answers

    Where are new opportunities found, according to the text?

    <p>External changes in the environment</p> Signup and view all the answers

    What is the focus of clan culture according to the Competing Values Framework?

    <p>Mentoring, nurturing, and 'doing things together'</p> Signup and view all the answers

    What is the definition of a new venture team?

    <p>A group of individuals with a common goal that can only be achieved by appropriate combinations of individual entrepreneurial actions</p> Signup and view all the answers

    Which culture is most often employed by new venture teams in tech startups, according to the provided information?

    <p>Adhocracy culture</p> Signup and view all the answers

    What is the 3H Model referred to in the text?

    <p>Hacker, Hipster, Hustler</p> Signup and view all the answers

    According to Sarah Sarasvathy's study of entrepreneurial expertise, what percentage of the respondents used effectual logic most of the time when solving problems?

    <p>75%</p> Signup and view all the answers

    According to the text, what is considered one of the most important success factors in a venture by Dutch venture capitalists?

    <p>The team</p> Signup and view all the answers

    What kind of distribution requires estimation techniques, as per Sarah Sarasvathy?

    <p>Unknown distribution</p> Signup and view all the answers

    What does the 8 Characteristics of the Perfect Startup Team emphasize as an important characteristic?

    <p>Working hours</p> Signup and view all the answers

    What is the inverse of 'causal' reasoning, as mentioned in the text?

    <p>'Effectual' reasoning</p> Signup and view all the answers

    What is the purpose of the Competing Values Framework according to the text?

    <p>To guide behaviors in an organization</p> Signup and view all the answers

    According to Sarasvathy, what categories of means do all entrepreneurs begin with?

    <p>'Who they are', 'What they know', and 'Whom they know'</p> Signup and view all the answers

    What is the Industry-Specific characteristic mentioned in the text?

    <p>Technical focus for certain industries</p> Signup and view all the answers

    In which scenario is causal reasoning exemplified, according to the text?

    <p>A chef given a specific menu in advance and cooking the meal in their own well-equipped kitchen</p> Signup and view all the answers

    'The inverted causal triangle at the top' captures which process, as per Sarasvathy?

    <p>'Causal' marketing process</p> Signup and view all the answers

    What are considered the 3 most important characteristics in the 3H Model according to the text?

    <p>Hacker, Hipster, Hustler</p> Signup and view all the answers

    Which characteristic is NOT emphasized as important in the 8 Characteristics of the Perfect Startup Team?

    <p>Number of social media followers</p> Signup and view all the answers

    According to Sarasvathy, what does effectuation focus on in an unpredictable future?

    <p>Controllable aspects</p> Signup and view all the answers

    What does the term 'solo-founder' refer to according to the text?

    <p>The founder who works alone without any team members</p> Signup and view all the answers

    What is the primary focus of adhocracy culture, based on the Competing Values Framework?

    <p>'Doing things first'</p> Signup and view all the answers

    What does a group need to be considered a team according to the text?

    <p>Close connection and standing up for one another among members</p> Signup and view all the answers

    'Clan culture is structured and controlled' - True or False?

    <p>False</p> Signup and view all the answers

    What is a human capital perspective on entrepreneurial teams focused on according to the text?

    <p>Industry-specific skills and experiences of group members</p> Signup and view all the answers

    In which scenario does effectual reasoning apply?

    <p>A chef exploring unspecified ingredients and cooking a meal in a strange kitchen without a menu</p> Signup and view all the answers

    What is a new venture team defined by according to the text?

    <p>A group with a common goal that can only be achieved by appropriate combinations of individual entrepreneurial actions</p> Signup and view all the answers

    What is the main characteristic of team flow?

    <p>Sense of joint progress</p> Signup and view all the answers

    According to the text, what is essential for experiencing task flow in a team?

    <p>Clear proximal goals</p> Signup and view all the answers

    Which of the following is a prerequisite for experiencing team flow?

    <p>Mutual trust</p> Signup and view all the answers

    What is characteristic of an 'optimized' team dynamic, as per the text?

    <p>Aligned personal goals</p> Signup and view all the answers

    What is an element of team flow that can be more readily influenced and needs to be created?

    <p>Open communication</p> Signup and view all the answers

    What makes the most exciting ventures, according to expert entrepreneurs?

    <p>A space in which the future is unknown and unknowable</p> Signup and view all the answers

    What characterizes experiences of team flow?

    <p>A sense of unity</p> Signup and view all the answers

    'Safe climate' is a prerequisite for experiencing which type of flow?

    <p>'Team' flow</p> Signup and view all the answers

    'Open communication' is an element contributing to which type of flow?

    <p>'Team' flow</p> Signup and view all the answers

    What is essential for achieving 'mutual trust' within a team dynamic?

    <p>Clear proximal goals</p> Signup and view all the answers

    What contributes to creating an 'optimized' team dynamic?

    <p>Collective ambition</p> Signup and view all the answers

    According to the text, what characterizes the 'shared experience' in team flow?

    <p>Sense of unity</p> Signup and view all the answers

    What do effectuation processes focus on?

    <p>Selecting between possible effects with a given set of means</p> Signup and view all the answers

    How do expert entrepreneurs view the future?

    <p>Creative</p> Signup and view all the answers

    What is the predisposition toward risk and resources in effectual logic?

    <p>Affordable loss</p> Signup and view all the answers

    What does the term 'effectuator' imply about an entrepreneur's stance toward the world?

    <p>The world is open and still in the making</p> Signup and view all the answers

    What is the basis for taking action in causal logic?

    <p>Goal-oriented</p> Signup and view all the answers

    What do effectuators seek to make happen?

    <p>Success</p> Signup and view all the answers

    What do expert entrepreneurs minimize the use of?

    <p>Prediction</p> Signup and view all the answers

    How do effectuators view opportunities according to the text?

    <p>Open and still in the making</p> Signup and view all the answers

    According to the text, what do effectuators recognize as an integral part of venturing?

    <p>Failure as well as success</p> Signup and view all the answers

    According to the text, what is indicative of elements of team flow that are hard to create or promote?

    <p>Challenging skill balance</p> Signup and view all the answers

    More Like This

    Use Quizgecko on...
    Browser
    Open
    Browser
    Browser