4 Written Questions

1. a person who values uncertainty in the marketplace and seeks to continuously identify opportunities with the potential to lead to important innovations.
2. a process in which firms creatively discover and exploit opportunities that are outside their domestic markets in order to develop a competitive advantage.
3. are individuals, acting independently or as part of an organization, who perceive an entrepreneurial opportunity and then take risks to develop an innovation to exploit it.
4. are conditions in which new goods or services can satisfy a need in the market.

3 Multiple Choice Questions

1. is the use or application of entrepreneurship within an established firm.
   1. Strategic entrepreneurship
   2. International entrepreneurship
   3. Entrepreneurship
   4. Corporate entrepreneurship
2. is the process of creating a commercial product from an invention.
   1. Entrepreneurs
   2. Innovation
   3. Imitation
   4. Invention
3. is taking entrepreneurial actions using a strategic perspective.
   1. Corporate entrepreneurship
   2. International entrepreneurship
   3. Entrepreneurship
   4. Strategic entrepreneurship

3 True/False Questions

1. Invention → is the act of creating or developing a new product or process.

   True        False

2. Imitation → is the act of creating or developing a new product or process.

   True        False

3. Entrepreneurship → the process by which individuals, teams, or organizations identify and pursue entrepreneurial opportunities without being immediately constrained by the resources they currently control.

   True        False