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MAN 4802 - EXAM 1 ALL REVISION QUESTIONS AND CORRECT ANSWERS (GRADED 100%) (2024 UPDATE)
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MAN 4802 - EXAM 1 ALL REVISION QUESTIONS AND CORRECT ANSWERS (GRADED 100%) (2024 UPDATE)
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MAN 4802 - EXAM 1 ALL REVISION QUESTIONS ANDCORRECT ANSWERS (GRADED 100%) (2024 UPDATE)
Myth - ANSWER an unfounded or false notion
Entrepreneurship - ANSWER activity of organizing, managing and assuming the risks of a
business or enterprise.
Entrepreneurial Process - ANSWER Innovation
Triggering Event
Implementation
Growth
Triggering Events - ANSWER getting fired
personal problems or "pains"
Reasons for Starting a Business - ANSWER personal income
be own boss
Higher Locus of Control - ANSWER like to be in control of their own fate
Industry Experience - ANSWER 80% of Inc. 500 started in same or similar industry as
founder's experience
Environmental Factors - ANSWER role models
clusters
, family responsibilities
Team Success Factors - ANSWER a team
higher education
prior entrepreneurial experience
relevant industry experience
broad social and professional network
Resources - ANSWER Bootstrap: build business out of nothing with minimal outside
capital
start up capital
profit potential
cash
Idea - ANSWER A thought, an impression, or a notion
Opportunity - ANSWER an idea that is commercially viable and generates adequate returns
on investment
Idea Multiplication - IDEO Technique - ANSWER Gather stimuli
Multiply stimuli
Create customer concepts
Optimize practicality
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