 Show Entrepreneurship MCQS Guide Section 1 1. Which one of the following actions by an entrepreneur is most likely to contribute to creative destruction? A) Development of a new product B) Take-over of a competitor C) Issuing shares D) Reducing prices 2. An advantage of the small firm in the innovation process? A) Ability to carry out R&D B) Ability to raise finance C) Ability of the entrepreneur to carry out multiple tasks D) Ability of the entrepreneur to act on new ideas or product development 3.External links may provide incentives to: A) Raise finance B) Introduce new working practices C) Introduce improvements to products D) Attend business exhibitions 4. Firms located on science parks compared to those located off science parks are: A) More innovative B) Less innovative C) No more or less innovative D) More growth orientated 5. Innovative small firms are more likely in: A) Knowledge-based sectors B) Biotechnology C) Automobile manufacture D) Aerospace manufacture 6. Schumpeter considered that innovative entrepreneurs would: A) Thrive B) Disappear C) Be absorbed within large innovative firms D) Be absorbed within non-innovative firms 7. Innovative entrepreneurs face special issues in raising: A) Development capital B) Structured capital C) Human capital D) Seed capital 8. Innovative entrepreneurs may have to pay high insurance premiums due to the: A) The need to protect patents B) Greater employee liability C) Greater customer liability D) Greater trading risks 9. Networking by innovative entrepreneurs may be most encouraged by? A) Science parks B) Business incubators 8.Innovative entrepreneurs may have to pay high insurance premiums due to the: Get answer to your question and much more 9.Networking by innovative entrepreneurs may be most encouraged by? Get answer to your question and much more 10.The most likely problem encountered by innovative entrepreneurs in raising finance is:A)Limited security since R&D is an intangible assetB)The costs of the patenting systemC)The exhaustion of personal equity in R&DD)Inability of potential external funders to understand technology 1.Which of the following is NOT recognized as a misconception about entrepreneurship? Get answer to your question and much more 2.All of the following are characteristics of small businesses EXCEPT: Get answer to your question and much more 3.Which of the following is NOT on of the three areas in which the importance ofentrepreneurship can be shown? Get answer to your question and much more About Us McqMate.com is an educational platform, Which is developed BY STUDENTS, FOR STUDENTS, The only objective of our platform is to assist fellow students in preparing for exams and in their Studies throughout their Academic career. what we offer ?» We provide you study material i.e. PDF's for offline use. What is the advantage of a small firm in the innovation process?Smaller firms can react more quickly to input from customers or challenges from competitors, and evolve their busi- ness models more rapidly. In many cases they can learn faster than larger firms and they are faster in decision-making so they potentially have a competitive advantage in fast changing markets.
Why open innovation is important for small and medium enterprises SMEs?Open innovation can be considered "an important mechanism for SMEs to gain access to knowledge and technology otherwise not available within their own organisational boundaries, resulting in improved innovation performance" [4].
What is the importance of process innovation?Process innovation strategies allow employees to gain more outcomes through the reduced time and improve a firm's efficiency and effectiveness, and processes. It has a significant influence on employees since it increases productivity by increasing shorter learning curves.
What are the 3 phases of innovation?The Three Stages of Disruptive Innovation: Idea Generation, Incubation, and Scaling | Stanford Graduate School of Business.
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Which one of the following is an advantage of the small firm in the innovation process
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