Entrepreneurship is the term used to describe those people that introduce innovative new products or services.
True
False
Which of the following is not considered to be a ‘key feature’ of entrepreneurship?
Organisation of tasks
Managing efficiently
Resource recombination
Creative potential
Innovation is generally taken to mean the successful exploitation of new ideas.
True
False
Which of the following best describes the difference between creativity and the entrepreneurial opportunity?
Creativity is concerned with doing old things in a new way, whereas the entrepreneurial opportunity is about doing new things in a new way.
Creativity is carried out by individuals, whereas entrepreneurial opportunities are undertaken by groups.
Creativity involves the potential to make new and valuable discoveries, whereas the entrepreneurial opportunity depends upon those involved recognizing these discoveries.
Creativity is largely carried out by creatives, whereas entrepreneurial opportunities are developed by managers.
The ‘entrepreneurial project’ involves having a clear view as to what needs to happen in order to produce an innovative product/service, and how this will be accomplished.
True
False
Entrepreneurship is best described as the emergent process of:
recognizing and communicating creativity such that the resulting cultural value can be appropriated by those involved.
recognizing and communicating creativity such that the resulting economic value can be appropriated by those involved.
recognizing and communicating creativity such that the resulting economic value is appropriated by society in general, regardless of those involved.
recognizing and communicating a discovery such that the resulting economic value is appropriated by society in general, regardless of those involved.
Under the cognitive approach to entrepreneurship it is accepted that the less experience people have in a given field, the more likely it is that they are able to identify opportunities in it.
True
False
Which of the following entrepreneurship theorists is particularly noted for highlighting the importance of being ‘alert to opportunity’?
Schumpeter
Shane
Kirzner
Knight
Within theories of artistic creativity, the ‘finder’ artist is noted for his conceptual innovation, motivated by the desire to communicate specific ideas or emotions.
True
False
The ‘qualification’ process involves the stabilization of the product so that it is ready for sale, and the prospective consumer’s detachment from existing products, allowing an attachment to be made to the new one.