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New Venture Development: Module 1 Quiz
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1. Which entrepreneurship model is the BEST for identifying fits and gaps between entrepreneurs, resources, and opportunities?
Timmons model
Baron model
Ardichvili and Cardozo model
Shane model
Clear selection
2. _______ is the state of active attention by high sensory awareness such as being watchful and prompt to meet danger or emergency, or being quick to perceive and act
alertness
innovation
triggering event
implementation
Clear selection
3. In Carol Moore's model of the entrepreneurial process, job loss, risk taking, and age are most closely related to the _____ stage.
innovation
triggering event
implementation
growth
Clear selection
4. Libby is an English major who loves reading and writing mysteries. She decides to open an Escape Room business in the Tuscaloosa Mall. The market for escape rooms is considered to be quite large and is currently fragmented. Which of the following attributes is most closely related to Libby's interest in this opportunity?
timeliness
attractiveness
value creation
durability
Clear selection
UA gets patent for sideline tent!
5. The University of Alabama recently received a patent for the Sideline Tent. While football teams everywhere should benefit from this innovation, which of the following attributes did this "technology" possibly fail? (Hint: think about the sophistication of the "technologies" used to create the innovation)
attractiveness
value creation
timeliness
durability
Clear selection
6. In the process view of entrepreneurs and opportunities, logistics and the marshaling of resources are important in
opportunity evaluation
opportunity exploitation
opportunity recognition
opportunity alertness
Clear selection
7. What clever activity did Debbie Gordon conduct at the beginning of the implementation stage of the Snappy Auctions idea? (within the process model of entrepreneurship)
She earned a degree from Vanderbilt
She ran a "risk-free" experiment selling shoes on eBay
She refused to lend money to her boss
She sold franchises to people in other cities
Clear selection
Window of opportunity
8. Each of the following is an attribute of the concept of "windows of opportunity" EXCEPT
opportunities appear and disappear in real time
smart entrepreneurs should consider how many other people might be seeing the same opportunity
smart entrepreneurs should always ask themselves the question "why now?"
smart entrepreneurs should wait until the target market is completely mature in order to get the highest growth
Clear selection
9. When it comes to opportunity recognition, entrepreneurs perceive changes in technology, markets, regulations, and trends through
augmented user experience
Andreessen-Horowitz filters
Zuckerberg facial recognition
cognitive frameworks
Clear selection
The Winklevoss Twins
10. The Winklevoss twins come up with an idea for a social network. Are they entrepreneurs?
No. Didn't Mark Zuckerberg do it instead?
Yes. They're rich now, right?
Not yet! They also need to form an organization to pursue the idea
Yes. They came up with an innovative diea
Clear selection
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