Chapter 15: Entrepreneurial Leadership

Test Bank

Multiple Choice

1. ______ comprises a unique set of concepts, mindsets, and activities used by leaders to identify opportunities, deepen understanding, and initiate and develop innovation.

A. Appreciative inquiry

B. Entrepreneurial leadership

C. Human capital management

D. Leadership capacity

Learning Objective: 15.1: Describe the broad domain of entrepreneurship.

Cognitive Domain: Knowledge

Answer Location: Introduction

Difficulty Level: Easy

2. Leaders who spot value, translate that value, develop it, and then put the ideas into action to realize greater value for their organization and beyond are practicing ______.

A. intrinsic motivation

B. systems thinking

C. situational leadership

D. entrepreneurial leadership

Learning Objective: 15.1: Describe the broad domain of entrepreneurship.

Cognitive Domain: Knowledge

Answer Location: Introduction

Difficulty Level: Easy

3. ______ is the process of pursuing opportunity through the conception, validation, and launch of new ideas into the marketplace.

A. Entrepreneurship

B. Incubation

C. Management

D. Effectuation

Learning Objective: 15.1: Describe the broad domain of entrepreneurship.

Cognitive Domain: Knowledge

Answer Location: Defining Entrepreneurship

Difficulty Level: Easy

4. ______ occurs when entrepreneurs become aware of a problem, dissatisfaction, or gap in current offerings that they find interesting and believe themselves capable of solving.

A. Collaboration

B. Impact modeling

C. Opportunity recognition

D. Incubation

Learning Objective: 15.1: Describe the broad domain of entrepreneurship.

Cognitive Domain: Knowledge

Answer Location: Entrepreneurship Involves Pursuing Opportunity

Difficulty Level: Easy

5. ______ pursuit occurs when an entrepreneur decides to take action.

A. Character

B. Dispositional

C. Emotional

D. Opportunity

Learning Objective: 15.1: Describe the broad domain of entrepreneurship.

Cognitive Domain: Knowledge

Answer Location: Entrepreneurship Involves Pursuing Opportunity

Difficulty Level: Easy

6. The conception, validation, and launch of new ideas require a broad and diverse skill set as well as a strong leadership ______.

A. CORE

B. model

C. mission statement

D. digital competence

Learning Objective: 15.1: Describe the broad domain of entrepreneurship.

Cognitive Domain: Comprehension

Answer Location: Conception, Validation, and Launch of New Ideas

Difficulty Level: Medium

7. ______ originates from the French verb entreprendre, which means to undertake or do something.

A. Intrepid

B. Entrepreneurship

C. Expedience

D. Endeavor

Learning Objective: 15.1: Describe the broad domain of entrepreneurship.

Cognitive Domain: Knowledge

Answer Location: Defining Entrepreneurship

Difficulty Level: Easy

8. ______ is the creation of a new method, device, or process.

A. Influence

B. Invention

C. Ideation

D. Iteration

Learning Objective: 15.1: Describe the broad domain of entrepreneurship.

Cognitive Domain: Knowledge

Answer Location: Into the Marketplace

Difficulty Level: Easy

9. An ______ is a new method, device, or process that is useful to people and is developed and delivered into the marketplace through the process of entrepreneurship.

A. innovation

B. artifact

C. essence

D. effectuation

Learning Objective: 15.1: Describe the broad domain of entrepreneurship.

Cognitive Domain: Knowledge

Answer Location: Into the Marketplace

Difficulty Level: Easy

10. Mere ______ is not sufficient enough for entrepreneurship. Rather the new creation must provide value to a customer or beneficiary by helping them solve a problem or address an unmet need.

A. confidence

B. care

C. effectuation

D. invention

Learning Objective: 15.1: Describe the broad domain of entrepreneurship.

Cognitive Domain: Comprehension

Answer Location: Into the Marketplace

Difficulty Level: Medium

11. ______ is the process of utilizing the marketplace to solve social problems (generally wicked social problems) in a novel manner.

A. Design thinking

B. Social entrepreneurship

C. Mindfulness

D. Process mapping

Learning Objective: 15.1: Describe the broad domain of entrepreneurship.

Cognitive Domain: Knowledge

Answer Location: The Broad Domain of Entrepreneurship

Difficulty Level: Easy

12. ______ comprises entrepreneurial behaviors within an existing organization, such as risk-taking and generating ideas for new products and services to be developed as companies seeking to remain competitive or grow revenues and profitability.

A. Community engagement

B. Ecocycle framework

C. Intrinsic motivation

D. Intrapreneurship

Learning Objective: 15.1: Describe the broad domain of entrepreneurship.

Cognitive Domain: Knowledge

Answer Location: The Broad Domain of Entrepreneurship

Difficulty Level: Easy

13. Encompassing new ideas for social ventures to address chronic societal problems such as environmental degradation, poverty and access to health care, education, and clean water is an aspect of ______.

A. social entrepreneurship

B. service learning

C. shared leadership

D. spiritual capital

Learning Objective: 15.1: Describe the broad domain of entrepreneurship.

Cognitive Domain: Comprehension

Answer Location: The Broad Domain of Entrepreneurship

Difficulty Level: Medium

14. ______ is an organizational disorder characterized by overreliance on charisma, involvement and decisions of one or more founding members in place of mindful, collaborative, and strategic management and leadership.

A. Wicked problem

B. Convergent thinking

C. Founder’s syndrome

D. Heuristic problem

Learning Objective: 15.2: Transform your mindset to see leadership as entrepreneurial.

Cognitive Domain: Knowledge

Answer Location: Entrepreneurship and Leadership

Difficulty Level: Easy

15. The moment any endeavor begins to develop an idea, other individuals become involved. At that point you are trying to facilitate a process of influencing others toward a common ______.

A. motivation

B. business model

C. mental model

D. vision

Learning Objective: 15.2: Transform your mindset to see leadership as entrepreneurial.

Cognitive Domain: Comprehension

Answer Location: Entrepreneurship and Leadership

Difficulty Level: Medium

16. ______ leaders are individuals who, through an understanding of themselves and the contexts in which they work, act on and shape opportunities that create value for their organizations, their stakeholders, and the wider society.

A. Servant

B. Entrepreneurial

C. Situational

D. Transactional

Learning Objective: 15.2: Transform your mindset to see leadership as entrepreneurial.

Cognitive Domain: Comprehension

Answer Location: Entrepreneurship and Leadership

Difficulty Level: Medium

17. A ______ is a state of mind wherein you see your abilities and capacity as a change agent as set traits--they are what they are.

A. growth mindset

B. fixed mindset

C. double-bind

D. crucible (of leadership)

Learning Objective: 15.3: Interpret the entrepreneurial mindset.

Cognitive Domain: Knowledge

Answer Location: The Entrepreneurial Mindset

Difficulty Level: Easy

18. A ______ is a state of mind wherein you believe that you can acquire and develop new abilities, and that your capacity is only limited by your effort.

A. fixed mindset

B. decision-action gap

C. mental model

D. growth mindset

Learning Objective: 15.3: Interpret the entrepreneurial mindset.

Cognitive Domain: Knowledge

Answer Location: The Entrepreneurial Mindset

Difficulty Level: Easy

19. Which of the following is an example of a fixed mindset as opposed to a growth mindset?

A. I never seem to be able to keep my notes organized.

B. In past arguments, I’ve felt like you didn’t listen to me.

C. Well, it’s not a priority for me to learn right now.

D. I feel really dissatisfied with all of the art I’ve tried to produce.

Learning Objective: 15.3: Interpret the entrepreneurial mindset.

Cognitive Domain: Application

Answer Location: The Entrepreneurial Mindset

Difficulty Level: Medium

20. Which of the following is an example of a growth mindset as opposed to a fixed mindset?

A. He can be really obnoxious sometimes.

B. I’m usually off in my own headspace.

C. Math has been challenging for me.

D. This subject makes me really anxious.

Learning Objective: 15.3: Interpret the entrepreneurial mindset.

Cognitive Domain: Application

Answer Location: The Entrepreneurial Mindset

Difficulty Level: Medium

21. The ______ is a series of dispositions or mental habits that drive the process of pursuing opportunity through the conception, validation, and launch of new ideas into the marketplace.

A. mental model

B. lateral organizational model

C. reflective dimension

D. entrepreneurial mindset

Learning Objective: 15.3: Interpret the entrepreneurial mindset.

Cognitive Domain: Knowledge

Answer Location: The Entrepreneurial Mindset

Difficulty Level: Easy

22. As an ______ leader, you need to seek out and maximize moments of awareness and raise that awareness to opportunities.

A. entrepreneurial

B. authentic

C. intrinsic

D. emotional

Learning Objective: 15.3: Interpret the entrepreneurial mindset.

Cognitive Domain: Comprehension

Answer Location: See More Opportunity: Mindful, Observant, and Open to New Ideas

Difficulty Level: Medium

23. A chef receives peppers instead of cucumbers in his food order, which was needed for a special salad. Which of the following examples is a way in which that problem is reframed as an opportunity?

A. The chef decides to take the special salad off of his menu.

B. The chef creates a new special salad involving peppers.

C. The chef calls and complains about the shipment of peppers and does not work with that delivery service again.

D. The chef quits in exasperation that things do not go his way.

Learning Objective: 15.3: Interpret the entrepreneurial mindset.

Cognitive Domain: Application

Answer Location: See Differently: Reframing Problems as Opportunities

Difficulty Level: Medium

24. ______ love to encounter people who have problems because they know that their complaints, frustrations, and pains represent opportunities to make a positive impact.

A. Authority figures

B. Heroes

C. Freelance workers

D. Entrepreneurs

Learning Objective: 15.3: Interpret the entrepreneurial mindset.

Cognitive Domain: Comprehension

Answer Location: See Differently: Reframing Problems as Opportunities

Difficulty Level: Easy

25. ______ is the mental process of forming ideas.

A. Ideation

B. Inference

C. Effectuation

D. Metacognition

Learning Objective: 15.3: Interpret the entrepreneurial mindset.

Cognitive Domain: Knowledge

Answer Location: See More Answers: Ideation, Effectuation, and Resourcefulness

Difficulty Level: Easy

26. ______ is a type of reasoning characterized by first setting a goal and then considering the means through which the goal can be accomplished.

A. Effectuation

B. Causal reasoning

C. Deductive reasoning

D. Ideation

Learning Objective: 15.3: Interpret the entrepreneurial mindset.

Cognitive Domain: Knowledge

Answer Location: See More Answers: Ideation, Effectuation, and Resourcefulness

Difficulty Level: Easy

27. ______ is a type of reasoning that starts with one’s given resources that subsequently forge goals as the resources are applied.

A. Causal reasoning

B. Inductive reasoning

C. Ideation

D. Effectuation

Learning Objective: 15.3: Interpret the entrepreneurial mindset.

Cognitive Domain: Knowledge

Answer Location: See More Answers: Ideation, Effectuation, and Resourcefulness

Difficulty Level: Easy

28. The single most valuable resource for an entrepreneur is ______. Having a mental bias toward action and reflection enables them to efficiently allocate this resource while executing a continuous series of dream, do, learn, and repeat loops.

A. time

B. money

C. collaborators

D. sponsors

Learning Objective: 15.3: Interpret the entrepreneurial mindset.

Cognitive Domain: Comprehension

Answer Location: See it Started: Predilection for Action . . . and Reflection

Difficulty Level: Medium

29. Having a strong and clear ______, will keep yourself on track and bring people together around a shared vision as well as keeping your team on track while you execute the entrepreneurial process.

A. career path

B. purpose

C. skill

D. system

Learning Objective: 15.3: Interpret the entrepreneurial mindset.

Cognitive Domain: Comprehension

Answer Location: See it Through: Remembering Your Purpose

Difficulty Level: Medium

30. ______ are cycles that are natural to the evolution of living systems that occur at all levels of scale.

A. Biomimicry

B. Agricultural cycles

C. Founder’s syndrome

D. Adaptive cycles

Learning Objective: 15.3: Interpret the entrepreneurial mindset.

Cognitive Domain: Knowledge

Answer Location: Thinking in Adaptive Cycles

Difficulty Level: Easy

31. ______ are the deep patterns that occur in transformational cycles all human and natural systems go through.

A. Panarchy

B. Adhocracy

C. Clan

D. Hierarchy

Learning Objective: 15.3: Interpret the entrepreneurial mindset.

Cognitive Domain: Knowledge

Answer Location: Thinking in Adaptive Cycles

Difficulty Level: Easy

32. The ______ cycle of the adaptive cycle looks like an infinity loop and includes the phases of exploitation, conservation, release, and reorganization.

A. adhocracy

B. market

C. panarchy

D. clan

Learning Objective: 15.3: Interpret the entrepreneurial mindset.

Cognitive Domain: Knowledge

Answer Location: Thinking in Adaptive Cycles

Difficulty Level: Easy

33. ______ explains the movements and cycles in organizational systems, often used in planning and leading and comprising four main phases (birth, maturity, creative destruction, and renewal) cycling in an infinite loop.

A. Change fatigue

B. Ecocycle framework

C. Biomimicry

D. Design process

Learning Objective: 15.3: Interpret the entrepreneurial mindset.

Cognitive Domain: Knowledge

Answer Location: Thinking in Adaptive Cycles

Difficulty Level: Easy

34. ______ means that decisions are researched and made based on collected data, rather than relying on your experience and expertise, personal observations, advice, hopes, or hunches.

A. Evidence-based decision-making

B. Causal reasoning

C. Appreciative inquiry

D. Customer discovery interviewing

Learning Objective: 15.4: Distinguish the entrepreneurial process.

Cognitive Domain: Comprehension

Answer Location: Leading the Entrepreneurial Process

Difficulty Level: Medium

35. One of your managers is resistant to using recognition for her workers because “everyone can’t get a trophy” and she does not want to “coddle” her workers. You find some research that points to the value of recognition not just in increasing worker satisfaction, but in increasing productivity as well. This research helps your manager to see the benefit to her and the team by improving her recognition skills and practices. What was this an example of?

A. causal reasoning

B. customer discovery interviewing

C. change fatigue

D. evidence-based decision-making

Learning Objective: 15.4: Distinguish the entrepreneurial process.

Cognitive Domain: Application

Answer Location: Leading the Entrepreneurial Process

Difficulty Level: Medium

36. ______ is changing an aspect of your idea, solution, or approach (or starting over) to reduce risk based on evidence and testing assumptions.

A. Divergent

B. Causal reasoning

C. Pivot

D. Storming

Learning Objective: 15.4: Distinguish the entrepreneurial process.

Cognitive Domain: Knowledge

Answer Location: Leading the Entrepreneurial Process

Difficulty Level: Easy

37. ______ is a general term for describing the decomposition of a new idea into constituent elements that are relevant to its viability.

A. Calculated risk-taking

B. Wicked problem

C. Impact modeling

D. Change fatigue

Learning Objective: 15.4: Distinguish the entrepreneurial process.

Cognitive Domain: Knowledge

Answer Location: Impact Modeling

Difficulty Level: Easy

38. A ______ represents a company’s rationale for how it creates value for customers, delivers its products to them, and captures value to make a profit.

A. code of ethics

B. business model

C. large-scale change

D. social impact model

Learning Objective: 15.4: Distinguish the entrepreneurial process.

Cognitive Domain: Knowledge

Answer Location: Impact Modeling

Difficulty Level: Easy

39. A ______ is a tool that illustrates the nine key business components: (1) key partners, (2) key activities, (3) key resources, (4) value proposition, (5) customer relationships, (6) channels, (7) customer segments, (8) cost structure, and (9) revenue.

A. social impact model

B. vertical operational model

C. code of ethics

D. business model canvas

Learning Objective: 15.4: Distinguish the entrepreneurial process.

Cognitive Domain: Knowledge

Answer Location: Impact Modeling

Difficulty Level: Easy

40. A ______ represents the rationale for how a policy, program, project, or social venture creates value for beneficiaries, delivers the value to beneficiaries, and sustains its impact over time.

A. business model

B. vertical operational model

C. social impact model

D. lateral organizational model

Learning Objective: 15.4: Distinguish the entrepreneurial process.

Cognitive Domain: Comprehension

Answer Location: Impact Modeling

Difficulty Level: Medium

41. Some components that are unique to the ______ canvas include type of intervention, key points of resistance, intended societal impact, and potential unintended consequences.

A. vertical operational model

B. lateral organizational

C. business model

D. social impact model

Learning Objective: 15.4: Distinguish the entrepreneurial process.

Cognitive Domain: Comprehension

Answer Location: Impact Modeling

Difficulty Level: Medium

42. ______ refers to an approach to organizational development that engages flexible, rapid methods to test and revise products and services before heavily investing.

A. Lean

B. Pivot

C. Satisficing

D. Ideation

Learning Objective: 15.4: Distinguish the entrepreneurial process.

Cognitive Domain: Knowledge

Answer Location: Lean Startup Methods

Difficulty Level: Easy

43. Customer discovery interviewing and prototyping minimum viable products are two examples of what?

A. rational persuasion

B. lean startup method

C. minimum viable product

D. incremental change

Learning Objective: 15.4: Distinguish the entrepreneurial process.

Cognitive Domain: Comprehension

Answer Location: Lean Startup Methods

Difficulty Level: Medium

44. The ______ involves using a structured interview script to qualify an interviewee as a member of your assumed target segment and elicit beliefs and experiences relevant to the problem you are trying to solve and the solution you are working to develop.

A. appreciative inquiry

B. constructive dimension

C. customer discovery interview

D. mental model

Learning Objective: 15.4: Distinguish the entrepreneurial process.

Cognitive Domain: Knowledge

Answer Location: Customer Discovery Interviewing

Difficulty Level: Easy

45. A ______ is the smallest, simplest thing you can build that conveys the product’s value proposition to customers (and potentially captures value back).

A. pivot

B. service

C. benchmark

D. minimum value product

Learning Objective: 15.4: Distinguish the entrepreneurial process.

Cognitive Domain: Knowledge

Answer Location: Prototyping Minimum Viable Products

Difficulty Level: Easy

46. Different variations of ______ provide evidence from customers that allow you to iterate based on evidence before spending the time and money needed to actually develop a marketable version of your product or service.

A. minimum viable products

B. artifacts

C. habits

D. human capital management

Learning Objective: 15.4: Distinguish the entrepreneurial process.

Cognitive Domain: Comprehension

Answer Location: Prototyping Minimum Viable Products

Difficulty Level: Medium

47. The ______’s role as an entrepreneurial leader involves seeing opportunity and utilizing creativity to conceive of a new idea that has the potential to disrupt the status quo.

A. innovator

B. chief executive

C. founder

D. team builder

Learning Objective: 15.5: Design your future as an entrepreneurial leader.

Cognitive Domain: Comprehension

Answer Location: The Founder

Difficulty Level: Medium

48. An important part of the founder’s role involves developing and communicating a compelling ______ for the unique value that will be provided by the new idea. It needs to articulate who will benefit, how they will benefit, why it matters, and why the benefits should be expected to greatly outweigh any potential risks.

A. mission statement

B. vision

C. motivation

D. innovation

Learning Objective: 15.5: Design your future as an entrepreneurial leader.

Cognitive Domain: Comprehension

Answer Location: The Founder

Difficulty Level: Easy

49. The ______’s role as an entrepreneurial leader is to translate the vision into a series of testable impact model assumptions, prioritize and conduct tests, and iterate as needed until a viable model is identified or the project is terminated.

A. innovator

B. team builder

C. chief executive

D. founder

Learning Objective: 15.5: Design your future as an entrepreneurial leader.

Cognitive Domain: Comprehension

Answer Location: The Innovator

Difficulty Level: Easy

50. The ______ must maintain flexibility and persistence in response to a roller coaster of excitement, rejection, and uncertainty as well as possess the passion and optimism needed to persist through difficult times and the capacity to continuously reprioritize and rapidly adapt based on learning.

A. founder

B. chief executive

C. innovator

D. team builder

Learning Objective: 15.5: Design your future as an entrepreneurial leader.

Cognitive Domain: Comprehension

Answer Location: The Innovator

Difficulty Level: Easy

51. The ______’s role as an entrepreneurial leader focuses most heavily on effective leadership activities as well as recruiting new personnel, and communicating a purpose that will align everyone’s activities, and make all team members feel as if they are part of something important and larger than themselves.

A. team builder

B. innovator

C. founder

D. chief executive

Learning Objective: 15.5: Design your future as an entrepreneurial leader.

Cognitive Domain: Comprehension

Answer Location: The Team Builder

Difficulty Level: Easy

52. Being growth oriented, willing to make personal sacrifices to advance a shared purpose, and capable of influencing others are essential characteristics for ______.

A. followers

B. innovators

C. chief executives

D. team builders

Learning Objective: 15.5: Design your future as an entrepreneurial leader.

Cognitive Domain: Comprehension

Answer Location: The Team Builder

Difficulty Level: Medium

53. The ______’s role as an entrepreneurial leader becomes responsible for setting strategic direction and accountable for the overall performance/impact of the business, social enterprise, project, or program.

A. team builder

B. innovator

C. founder

D. chief executive

Learning Objective: 15.5: Design your future as an entrepreneurial leader.

Cognitive Domain: Comprehension

Answer Location: The Chief Executive

Difficulty Level: Easy

54. The ______ must guide the development of rigid policies and processes to extract inefficiencies from existing products as well as encourage ongoing experimentation to explore and pursue new opportunities.

A. innovator

B. chief executive

C. founder

D. team builder

Learning Objective: 15.5: Design your future as an entrepreneurial leader.

Cognitive Domain: Comprehension

Answer Location: The Chief Executive

Difficulty Level: Medium

55. Characteristics pertaining to mental agility, efficiency, and management are essential for ______.

A. chief executives

B. team builders

C. innovators

D. founders

Learning Objective: 15.5: Design your future as an entrepreneurial leader.

Cognitive Domain: Comprehension

Answer Location: The Chief Executive

Difficulty Level: Medium

Essay

1. What are the four important distinguishing features that have been added to the concept of entrepreneurship?

Learning Objective: 15.1: Describe the broad domain of entrepreneurship.

Cognitive Domain: Knowledge

Answer Location: Defining Entrepreneurship

Difficulty Level: Medium

2. Seth Goldman, cofounder of Honest Tea noticed a gap in the market for iced tea that was not heavily sweetened and decided to develop a new lightly sweetened formulation to pursue this opportunity. What is this pursuit an example of involving entrepreneurship?

Learning Objective: 15.2: Transform your mindset to see leadership as entrepreneurial.

Cognitive Domain: Application

Answer Location: Entrepreneurship Involves Pursuing Opportunity

Difficulty Level: Medium

3. The pursuit of opportunity involves three major collections of activities corresponding to the conception, validation, and launch of new ideas. Conception-related activities include . . . what? Name two of the four.

Learning Objective: 15.2: Transform your mindset to see leadership as entrepreneurial.

Cognitive Domain: Knowledge

Answer Location: Conception, Validation, and Launch of New Ideas

Difficulty Level: Easy

4. The pursuit of opportunity involves three major collections of activities corresponding to the conception, validation, and launch of new ideas. Validation-related activities include . . . what? Name two of the three.

Learning Objective: 15.2: Transform your mindset to see leadership as entrepreneurial.

Cognitive Domain: Knowledge

Answer Location: Conception, Validation, and Launch of New Ideas

Difficulty Level: Easy

5. The pursuit of opportunity involves three major collections of activities corresponding to the conception, validation, and launch of new ideas. Launch-related activities include . . . what? Name two of the three.

Learning Objective: 15.2: Transform your mindset to see leadership as entrepreneurial.

Cognitive Domain: Knowledge

Answer Location: Conception, Validation, and Launch of New Ideas

Difficulty Level: Easy

6. What is the difference between a fixed mindset and a growth mindset?

Learning Objective: 15.3: Interpret the entrepreneurial mindset.

Cognitive Domain: Analysis

Answer Location: The Entrepreneurial Mindset

Difficulty Level: Medium

7. In regard to the entrepreneurial mindset, the ______ will lead you to new skills, new knowledge, and new areas of expertise, while the ______ will leave you about where you started--with little skill in the task at hand and little confidence in your abilities.

Learning Objective: 15.3: Interpret the entrepreneurial mindset.

Cognitive Domain: Analysis

Answer Location: The Entrepreneurial Mindset

Difficulty Level: Medium

8. With regard to the entrepreneurial mindset, someone who sees more opportunity is . . .? (List the three dispositions or mental habits.)

Learning Objective: 15.3: Interpret the entrepreneurial mindset.

Cognitive Domain: Comprehension

Answer Location: The Entrepreneurial Mindset

Difficulty Level: Medium

9. With regard to the entrepreneurial mindset, someone who employs the “sees differently” disposition will do what when encountering problems.

Learning Objective: 15.3: Interpret the entrepreneurial mindset.

Cognitive Domain: Comprehension

Answer Location: The Entrepreneurial Mindset

Difficulty Level: Medium

10. With regard to the entrepreneurial mindset, someone who sees more answers has . . .? (List the three dispositions or mental habits.)

Learning Objective: 15.3: Interpret the entrepreneurial mindset.

Cognitive Domain: Comprehension

Answer Location: The Entrepreneurial Mindset

Difficulty Level: Medium

11. With regard to the entrepreneurial mindset, someone who employs the “sees it started” disposition will do what when encountering problems?

Learning Objective: 15.3: Interpret the entrepreneurial mindset.

Cognitive Domain: Comprehension

Answer Location: The Entrepreneurial Mindset

Difficulty Level: Medium

12. With regard to the entrepreneurial mindset, someone who employs the “sees it through” disposition will do what when encountering problems?

Learning Objective: 15.3: Interpret the entrepreneurial mindset.

Cognitive Domain: Comprehension

Answer Location: The Entrepreneurial Mindset

Difficulty Level: Medium

13. What are three of the six general approaches to explore opportunities?

Learning Objective: 15.3: Interpret the entrepreneurial mindset.

Cognitive Domain: Knowledge

Answer Location: See More Opportunity: Mindful, Observant, and Open to New Ideas

Difficulty Level: Medium

14. What are four of the eight user-centered data collection techniques that can guide your exploration of opportunities?

Learning Objective: 15.3: Interpret the entrepreneurial mindset.

Cognitive Domain: Knowledge

Answer Location: See More Opportunity: Mindful, Observant, and Open to New Ideas

Difficulty Level: Medium

15. Entrepreneurs see more opportunities, and they see more ways to take advantage of those opportunities using two mental habits. What are those two mental habits?

Learning Objective: 15.3: Interpret the entrepreneurial mindset.

Cognitive Domain: Comprehension

Answer Location: See More Answers: Ideation, Effectuation, and Resourcefulness

Difficulty Level: Medium

16. A distinction between two types of reasoning can be illustrated with the example of a chef getting ready to prepare dinner. Using ______ would have the chef deciding what they wanted to eat and using a recipe to cook it, while using ______ would have them look at what ingredients they have around and then figure out how to use those ingredients to make something to eat.

Learning Objective: 15.3: Interpret the entrepreneurial mindset.

Cognitive Domain: Analysis

Answer Location: See More Answers: Ideation, Effectuation, and Resourcefulness

Difficulty Level: Medium

17. The panarchy model of an adaptive cycle includes four phases. What are those phases?

Learning Objective: 15.3: Interpret the entrepreneurial mindset.

Cognitive Domain: Knowledge

Answer Location: Thinking in Adaptive Cycles

Difficulty Level: Medium

18. What are the four phases in an ecocycle framework that cycle in an infinite loop?

Learning Objective: 15.3: Interpret the entrepreneurial mindset.

Cognitive Domain: Knowledge

Answer Location: Thinking in Adaptive Cycles

Difficulty Level: Medium

19. In the business model canvas, there are nine key business components. What are four of them?

Learning Objective: 15.4: Distinguish the entrepreneurial process.

Cognitive Domain: Knowledge

Answer Location: Impact Modeling

Difficulty Level: Easy

20. What are the four roles that entrepreneurial leaders play as they execute the entrepreneurial process by conceiving, validating, and launching new ideas into the marketplace?

Learning Objective: 15.5: Design your future as an entrepreneurial leader.

Cognitive Domain: Comprehension

Answer Location: The Evolving Role of the Entrepreneurial Leader

Difficulty Level: Medium