ORG207 1 Entrepreneurship and Innovation
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ORG207 1 Entrepreneurship and Innovation
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ORG207 1 Entrepreneurship and Innovation
Starttidspunkt:
Sluttidspunkt:
24.11.2015 08:45
24.11.2015 11:45
PDF opprettet
Opprettet av
Antall sider
01.02.2016 14:18
Kristina Andersen
17
2
Entrepreneurship and Innovation
1 OPPGAVE
ORG207, eng.
Course code: ORG207
Course name: Entrepreneurship and Innovation
Date: November 24th 2015
Duration: 3 hours
Resources allowed: Calculator and English dictionary
----------------------------Sometimes professors ask for exam answers that can be used for teaching purposes, but in order
for this to take place, the university needs your consent.
Do you grant the University of Agder permission to use your exam answer for teaching purposes?
Yes
No
2 OPPGAVE
Question 1
Which is true about how Schumpeter defined entrepreneurship?
Select an alternative:
Being entrepreneurial is "like being a manager, but a never ending condition".
Being entrepreneurial is "not managing a business but a long lasting profession."
Being entrepreneurial is "not a profession and as a rule not a lasting condition."
ORG207 1 Entrepreneurship and Innovation
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3 OPPGAVE
Question 2
Which of the following statements represents a product innovation?
Select an alternative:
Introduction of an existing product into a new market
Introduction of a new production process for a popular product´s production line.
Introduction of a completely new product into the market
4 OPPGAVE
Question 3
What is a market?
Select an alternative:
A market consists of buyers
A market consists of products
A market consists of sellers
5 OPPGAVE
Question 4
What is an industry?
Select an alternative:
An industry consists of sellers
An industry consists of products
An industry consists of buyers
ORG207 1 Entrepreneurship and Innovation
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6 OPPGAVE
Question 5
What is an example of secondary data?
Select an alternative:
interview with ones customers
customer online survey
government reports
7 OPPGAVE
Question 6
Schumpeter is known for explaining an entrepreneur as...
Select an alternative:
a person with a high achievement need
an individual mixing the available resources, such as markets, products, production methods et
into new combinations
very flexible and less risk averse
8 OPPGAVE
Question 7
Shane and Venkataraman (2000) explained entrepreneurship as:
Select an alternative:
All people are entrepreneurs, they just don´t know it yet.
"not a profession and as a rule not a lasting condition"
A process seeking answer to why, when and how entrepreneurial opportunities come to exist, are
discovered and exploited.
ORG207 1 Entrepreneurship and Innovation
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9 OPPGAVE
Question 8
Which of the following decribes the difference between radical and incremental innovation?
Select an alternative:
The difference between small improvements in what we are already doing and doing something
we have never done before, only completely differently.
The difference between what we imagine an innovation to be and what it is.
The difference between what we start developing in an innovation process and what our end result
of that process is.
10 OPPGAVE
Question 9
GET, mentioned in the course, stands for
Select an alternative:
Gross Economic Time
General Enterprising Tendency
Growth Entrepreneurial Talent
11 OPPGAVE
Question 10
Which of the following is not a dimension of general entrepreneurial tendency tests?
Select an alternative:
Patience
Need for achievement
Creativity
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12 OPPGAVE
Question 11
Which of the following is not a barrier to creativity
Select an alternative:
The tendency to assign blame for failure
The assumption that logic is important in creativity
The willingness to recognize the creative power of play.
13 OPPGAVE
Question 12
Which of the following represents a creative climate conducive to development of innovation
Select an alternative:
An organization where time, resources and mental support are provided for those coming up with
initiatives and new ideas.
An organization where conflicts are frequent and debates are long and inconclusive.
An organization where employees are faced with extreme challenges all the time.
14 OPPGAVE
Question 13
A business mission is defined as:
Select an alternative:
Determines what kind of personal aspiration that guides the level of achievement to be sought
Determines what kind of business to build and what kinds of markets to serve.
Determines what kind of organizational culture is most conducive to creativity.
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15 OPPGAVE
Question 14
According to Teresa Amabile from Harvard Business school, what are the three pillars of Creativity.
Select an alternative:
Artistic Capability, Flexible mindset and Curiousity
Creative Thinking Skills, Expertise and Motivation
Effectuation, Empathy and Personal Aspirations
16 OPPGAVE
Question 15
What important lesson in terms of raising money can we learn from Howard Schultz?
Select an alternative:
The initial investors invested in him, not the idea
If you are born with wealth, it can certainly helping in raising more money
Through his position with Swedish Perstorp, he sold enough designed kitchen gear to fund the first
expansion.
17 OPPGAVE
Question 16
Howard Schultz had what vision in mind when starting Il Giornale?
ORG207 1 Entrepreneurship and Innovation
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Select an alternative:
He had a dream of making the best coffee in Seattle, and was subsequently acquired by
Starbucks
He had a dream of building the largest coffee company in North America, with stores in every
major city.
He had a dream of making the best coffee in the world
18 OPPGAVE
Question 17
Which statement is true of professional venture capitalists?
Select an alternative:
They know that only five or sex out of very 10 deals in a typical venture capital portfolio will make
big money.
They know that only one or two out of very 10 deals in a typical venture capital portfolio will make
big money.
They know that only six or seven out of very 10 deals in a typical venture capital portfolio will make
big money.
19 OPPGAVE
Question 18
What is an example of an industry segmented by HOW the customers behave?
Select an alternative:
social class: jewelry, automobiles
demographic descriptors: age, income, gender, education)
geographic descriptors: insect repellent, suntan lotion, warm clothing, snow blowers
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20 OPPGAVE
Question 19
What are examples of industries segmented by WHERE the customers are?
Select an alternative:
cereal, children´s toys, clothing, cosmetics
insect repellent, suntan lotion, warm clothing
healthclubs, automobiles
21 OPPGAVE
Question 20
Which is an example of a business affected by an increased interest in well-being?
Select an alternative:
sports club membership
nursing homes
renewable energy
22 OPPGAVE
Question 21
Which of the following is not one of Porter´s five forces?
Select an alternative:
Rivalry among buyers
Threat of substitute products or services
Threat of new entrants
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23 OPPGAVE
Question 22
According to the Five Forces Framework..
Select an alternative:
High or low tech drives competition and profitability
The lifecyle of an industry drives competition and profitability
Industry structure drives competition and profitability
24 OPPGAVE
Question 23
If we take a narrow definition, which industry is De Bears operating in (the most narrow
definition)?
Select an alternative:
Luxury Goods
Jewelry
Diamonds
25 OPPGAVE
Question 24
Which statement is true regarding Porter´s "Threat of Entry"?
Select an alternative:
Industries are more attractive when the threat of entry is low
Industries are more attractive when the threat of entry is high
Industries are more attractive when the threat of substitutes is high
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26 OPPGAVE
Question 25
Which statement below is true regarding markets and industries?
Select an alternative:
If an industry is attractive, the market will be unattractive
If a market is attractive, the industry will also be
An attractive market is not equal to an attractive industry
27 OPPGAVE
Question 26
Which statement is true regarding Porter´s "Supplier Power"
Select an alternative:
Industries are more attractive when their suppliers have little power to set prices
Industries are more attractive when their suppliers have a lot of power to set prices
Industries are more attractive when their suppliers have little threat to entry
28 OPPGAVE
Question 27
Which is not an example of a sustainable competitive advantage?
Select an alternative:
First to market
An economically viable business
Proprietary elements
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29 OPPGAVE
Question 28
What is a reason for competing in a not-so-attractive industry?
Select an alternative:
The more you invest in a not-so-attractive industry, the higher the likelihood that things will
improve.
As more firms enter a not-so-attractive industry, competition may lead to profits increasing
Selling what the customer wants could offset the difficulties inherent in an unattractive industry
30 OPPGAVE
Question 29
What is economic sustainability in a business?
Select an alternative:
When the company´s business model is achieving its mission and vision
When the company´s business model is operating with a negative profit margin, but sales are
improving.
When the company´s business model is sufficiently robust so as to not run out of cash
31 OPPGAVE
Question 30
From our text book, and class discussion, what is a key reason why EMI lost out to General
Electric and other major competitors in the scanner market?
ORG207 1 Entrepreneurship and Innovation
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Select an alternative:
Because of better contribution margins to cover the fixed cost structure
Because of patent protection
Because of stronger organizational capabilities and processes
32 OPPGAVE
Question 31
What is collector bias?
Select an alternative:
Answering questions in a way which will lead the interviewer to draw false conclusions
Hearing what you want to hear
In business (also known as an emitter bias) is one of three basic investor categories which may
have negative consequences on the start-up
33 OPPGAVE
Question 32
How do one work out what the Critical Success Factors (CSFs) are in an industry?
Select an alternative:
The answer is found in a survey among customers
The answer is found in the trade press, on the internet or in strategy textbooks.
The answer is found in the experience of those who have learned - often the hard way - which
things are absolutely key
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34 OPPGAVE
Question 33
From the case on Palm Computing in the textbook, what was key to their success?
Select an alternative:
With a team of competent veterans, they were fortunate to be joined by two venture capital firms
With a team of key veterans, they responded to the new trends sweeping the industry
With a competent team, they executed on the CSFs
35 OPPGAVE
Question 34
What does it mean to have connections UP the value chain?
Select an alternative:
Connection with suppliers
Connections with customers
Connections with competitors
36 OPPGAVE
Question 35
What is ment by large market fallacy?
Select an alternative:
Large markets attract competitors, often large established ones with deep pockets
Large markets have large unattractive industries
Large markets create hubris among investors seeking to profit on serial entrepreneurs
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37 OPPGAVE
Question 36
What is ment by the better mousetrap fallacy?
Select an alternative:
Trying to capitalize on for instance technology for its own sake
The idea that large markets attract competitors, often large ones
The combination of low barriers to entry and a lack of sustainable advantage
38 OPPGAVE
Question 37
What are the three Fs in financing?
Select an alternative:
Foreign, Friendly and Favourable
Family, Friends and Fools
Financing, Forecasting and Fruitful
39 OPPGAVE
Question 38
In the quest lecture by Raj Sharma, he attributed what specific facts to successful
entrepreneurship?
Select an alternative:
Curiosity, face-to-face talks, and in-debt analysis often pays-off
Products developed in a laboratory environment often sell well
Often it is wise to pretend to be more than what you are, to gain trust and appeal from other
people
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40 OPPGAVE
Question 39
What is not a significant drawback when raising capital too early?
Select an alternative:
Raising capital early means the business will have less chance to raise money later
Raising capital demand a lot of time and energy
Raising capital early often leaves the founder with a lower ownership stake
41 OPPGAVE
Question 40
What is an example of a company using the matchmaker model?
Select an alternative:
VIA
ZARA
eBay
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