Entrepreneurship And Innovation (Org207)

Offering a new product to an established market.

Offering a new product to a new market.

Offering an established product in an established market.

Offering an established product in a new market.

All except a.

All except c.

Both innovation and entrepreneurship are two different labels describing the same thing launching new businesses.

Entrepreneurs use innovation processes for gaining strategic advantage in markets, by creating and exploiting change situations as opportunities for value creation.

Innovation is necessarily the way by which entrepreneurs create new organizations.

Entrepreneurs drive innovation in an attempt to change conditions in markets, as part of endless cycles of creative destruction.

Only b and d, but not a and c.

None of the above.

Low management skills but high levels of creativity and innovation

Low levels of creativity and innovation, and high management skills.

High levels of both management skills and creativity and innovation.

Low levels of both management skills and creativity and innovation.

Depends, in some situations - a, and in some situations - d.

None of the above.

Emphasis on product innovation is constant throughout the innovation life cycle.

Emphasis on process innovation is high in the fluid stage and low at the transitional stage of the innovation life cycle.

Emphasis on both product and process innovation is equally high in the early fluid stage of the innovation life cycle.

Emphasis on process innovation increases throughout the innovation life cycle.

All of the above.

None of the above.

Offering samples and free trials.

Educating customers through demonstrations and documentation.

Launching an informational advertising campaign.

Highlighting product benefits over substitutes.

All of the above.

None of the above.

Introduction of a completely new product into the market.

Introduction of an existing product into a new market.

Introduction of a new production process for a popular products? production line.

Introduction of a significantly improved version of an existing product.

Only a and d, but not b and c.

Only b and d, but not a and c.

There are many competitors producing more or less same standard product, when demand for it is greater than supply.

Emergence of new business models, when firms sell same products but with different revenue sources and pricing mechanism.

Dramatic changes in consumer preferences and behavioral patterns.

Emergence of new technologies, which require other firms to adapt to a new superior industry standard.

When governments stop subsidizing local firms and allow foreign firms to compete with local firms on equal terms.

All of the above.

Products are often specially customized to specific customers.

Product types frequently change and to a significant extent.

Product range includes at least one stable or dominant design and/or format.

Products are produced inefficiently under a mode of constant exploration.

Competitive emphasis is on per unit cost reduction.

Products are produced in a highly efficient manner, often characterized by rigid procedures.

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.

The difference between small improvements in what we are already doing and doing something we have never done before, or doing something we have done before only completely differently.

The difference between the perceived changes to a product by customers and the perceived changes to a product by a company.

All of the above.

None of the above

Invention of a new product or service.

Imitation of an existing product or service.

Creative replication of existing concept.

Combination of existing concepts in a new way.

Only a and d.

Only c and d.

Inability to estimate demand volumes and growth potential for a new technological solution currently unavailable in the market.

Inability to launch perfect products from early on and needing to introduce improvements all the time.

Inability to assess whether new technology will actually work.

Inability to build entry barriers for competitors prior to product launch

Inability to form strong relations with key industry channels and players.

Inability to get customers to try new products.

Attitude, social norms, and self-efficacy.

Innovativeness, pro-activity and risk-taking proclivity.

Opportunity exploration, opportunity recognition, and opportunity exploitation.

Money, market, and management.

Financial risk-taking, social risk-taking, and career risk-taking.

None of the above.

When one thing seems worthless to one person, is viewed and turned into a source of value creation for another person (example ? bring mobile phone to poor countries).

When one technology is outdated by the availability of better technology in the market (example ? sell Blu-Ray films instead of regular DVDs).

When one business is able to make profit by inflicting loss to another (example ? market share of company 1 is grown at the expense of market share of company 2).

When the value of a product for one segment is partially attributed to the inability of other segments to get/own/afford it (example ? luxury products, sports cars, massive yachts, etc.).

None of the above.

All of the above.

Being my own boss, managing my own time and enjoying the benefits of my own labor.

In my country, successful entrepreneurs enjoy high social status, respect and appreciation of others.

Wishing to have a safe and stable career, while not worrying about my income each month/year.

Inventing a new technology and seeking to perfect its technical development.

Only a and b.

Only c and d.

Mature firm which took time to develop internationally, in recent years doing sales in multiple foreign markets, using sub-suppliers from multiple foreign markets, while selling a product on offer by various international players.

Young firm only doing sales in Norway, using sub-suppliers from multiple foreign markets, while selling a product on offer by various international players.

Young firm doing sales in multiple foreign markets, using sub-suppliers from multiple foreign markets, while selling a product on offer by various international players.

Young firm only doing sales in Norway, using Norwegian sub-suppliers, while selling a product so unique it is not available anywhere else in the world except Norway.

Both a and d.

Both b and c.

The extent to which one has a creative way of thinking, as well as unique and original ideas.

The extent to which the social environment views entrepreneurial career choices favorably.

The extent to which an individual perceives himself/herself able and competent to be an entrepreneur.

The extent to which an individual favorably views entrepreneurship in general and entrepreneurial careers in particular.

A, c, and d, but not b.

C, b, and d, but not a.

Bricolage

Structural thinking.

Cognitive adaptation.

Effectuation.

Irrational thinking,

All of the above.

Need for achievement.

Desire for autonomy/ independence.

Risk taking orientation.

Creativity

All of the above.

None of the above.

In E we are flexible to adapt to changing conditions, and in C we are completely inflexible.

In E we start with what we have and select a possible outcome, and in C we select a chosen outcome and look for the means to achieve it.

In E we start with a required outcome and look for the means to achieve it, and in C we start with the means we have and select a possible outcome.

In E the thinking process is more emotional and irrational, while in C the thinking process is less emotional and more rational.

In E, when trying to solve problems, we first use information we gained in our education, while in C we first use information we gained through connections and relations.

None of the above.

Firms are managed informally.

The character and preoccupations of the owner have significant influence on decisions.

Offering a limited product range.

Firms have a relatively small number of employees.

All of the above.

None of the above.

Start up.

Survival.

Growth.

Expansion.

Maturity.

None of the above.

Diversification through forward integration.

Diversification through backward integration.

Diversification through horizontal integration.

Diversification through network integration.

All of the above.

None of the above.

Market penetration strategy.

Market skimming strategy.

Market development strategy.

Diversification strategy.

International strategy.

All of the above.

Exporting via agents and distributors.

Exporting as part of a piggy-backing arrangement with a key industry player.

Establishing a joint venture with a local company in the foreign market.

Acquiring a local firm in the foreign market.

Establishing own new company in the foreign market.

All of the above.

A firm that operates internationally from early on in the firm?s life.

A firm managed by individuals with a global mind-set.

A firm only engaged in high technology products and services.

A firm owned by foreign investors from the time it is established.

Only a and b, but not c and d.

Only c and d, but not a and b.