EVERYTHING THAT WAS ASKED IN THE EXAM IS IN THIS PRACTICE QUESTION EXAM! All the articles are summarized and written as a question, so you can practice.
!! I also wrote all the questions that where asked in my exam (), so these are the most important things to learn!!!
By learning this, you ...
Article of shane and venkataraman (the promise of entrepreneurship as a field of
research)
1. What is the definition of entrepreneurship according to the article of shane and
venkataraman (the promise of entrepreneurship as a field of research)
- The scholarly examination of how, by whom and with what effects opportunities are discovered, evaluated and exploited
2. Name the 3 reasons why you should study entrepreneurship according to the article
of shane and venkataraman?
1. Much technical infor- mation is ultimately embodied in products and services (Arrow, 1962), and
entrepreneurship is a mechanism by which society converts technical information into these products and
services.
2. Entrepreneurship is a mechanism through which temporal and spatial inefficien- cies in an economy are
discovered and miti- gated (Kirzner, 1997).
3. Finally, of the different sources of change in a capitalist society, Schum- peter (1934) isolated
entrepreneurially driven in- novation in products and processes as the cru- cial engine driving the change
process
3. Why do some people and not others discover particular entrepreneurial opportunities
(two factors that influence the probability that particular people will discover
opportunity)
1. The possession of prior information necessary to identify an opportunity (information corridors)
2. The cognitive properties necessary to value it.
4. Why do some people and not others exploit the opportunities that they discover?
Because of:
1. The nature of the opportunity
2. Individual differences
5. What are the 2 modes of exploitation?
1. Creation of new firms (hierarchy)
2. Sale of opportunity to existing firm
DISCOVERY AND CREATION-A. ALVAREZ* and JAY B. BARNEY
1. TELEOLOGICAL THEORIES OF ENTREPRENEURIAL ACTION: What are
teleological theories?
- Explain the impact of human behavior on the ability of individuals to accomplish their purpose.
2. What 3 assumptions must teleological theories of human action make?
1. assumptions about the nature of human objectives,
2. assumptions about the nature of individuals,
3. assumptions about the nature of the decision making context within which individuals operate
3. Name 2 examples of teleological theory and name the similarities
- discovery theory and creation theory
- both discovery theory and creation theory assume that the goal of entrepreneurs is to form and exploit opportunities
- Both theories also recognize that opportunities exist when competitive imperfections exist in a market or industry.
4. Difference between discovery and creation theory? ^ASKED ON THE EXAM 2022!
-
5. Discovery theory: Name the characteristics
- competitive imperfections are assumed to arise exogenously.
- opportunities are created by exogenous shocks to an industry or market .
- opportunities are objective and thus, in principle, observable.
- Decision making context to exploit an opportunity is risky. (risky because it assumes that opportunities are objective in
nature)
, 6. Name the seven effective entrepreneurial actions and name the differences
of discovery context and creation context
-
article 3 Entrepreneurship as Method: Open Questions for an Entrepreneurial Future
Saras D. Sarasvathy Sankaran Venkataraman
1. What are the differences and similarities between entrepreneurial method and
scientific method?
2. What do entrepreneurs do?
- They undertake activities leading to the creation of organizations
3. How are markets made?
- markets exist either as obvious or latent demand and market competition acts as a discovery procedure to develop technological and other
forms of innovation to provide solutions to both
4. Who Is Not a Potential Entrepreneur?
- Everyone is a potential entrepreneur.
5. Are Social Ventures Different From For-Profit Ventures?
- One simple answer to this question is that some ventures declare themselves for-profit by explicitly incorporating
themselves as such and subjecting themselves to the discipline of markets—or price mechanisms of one sort or another
6. Why is it that we invest in Genzyme or Microsoft, but give to Red Cross or
Transparency International?
- nonprofits subsidize for-profits or that nonprofits are less efficient and more fragmented than for-profits.
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