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Entrepreneurship and Small Firms
Entrepreneurship and Small Firms
Entrepreneurship and Small Firms
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EntrepreneurshipandSmallFirms,3/e
DavidDeakins,PaisleyBusinessSchool,UK
MarkFreel,UniversityofAberdeen,UK
InnovationAndEntrepreneurship
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SuggestedAnswers
ResultsReporter
Outof10questions,youanswered3correctly,forafinalgradeof30%.
3correct(30%)
6incorrect(60%)
1unanswered(10%)
Selecttheradiobuttoncorrespondingtoyourchoiceofanswerforeachquestion,and
thenclickon"SubmitAnswers"tofindouthowmanyyouansweredcorrectly.
YourResults:
Thecorrectanswerforeachquestionisindicatedbya
INCORRECT
Whichoneofthefollowingactionsbyanentrepreneuris
mostlikelytocontributetocreativedestruction?
A)Developmentofanewproduct
B)Takeoverofacompetitor
C)Issuingshares
D)Reducingprices
INCORRECT
Anadvantageofthesmallfirmintheinnovationprocess?
A)AbilitytocarryoutR&D
B)Abilitytoraisefinance
C)Abilityoftheentrepreneurtocarryoutmultipletasks
D)Abilityoftheentrepreneurtoactonnewideasor
productdevelopment
INCORRECT
Externallinksmayprovideincentivesto:
A)Raisefinance
B)Introducenewworkingpractices
C)Introduceimprovementstoproducts
D)Attendbusinessexhibitions
UNANSWERED
Firmslocatedonscienceparkscomparedtothoselocatedoff
scienceparksare:
A)Moreinnovative
B)Lessinnovative
C)Nomoreorlessinnovative
D)Moregrowthorientated
INCORRECT
Innovativesmallfirmsaremorelikelyin:
A)Knowledgebasedsectors
B)Biotechnology
C)Automobilemanufacture
D)Aerospacemanufacture
Schumpeterconsideredthatinnovativeentrepreneurswould:
CORRECT
A)Thrive
B)Disappear
C)Beabsorbedwithinlargeinnovativefirms
D)Beabsorbedwithinnoninnovativefirms
INCORRECT
Innovativeentrepreneursfacespecialissuesinraising:
A)Developmentcapital
B)Structuredcapital
C)Humancapital
D)Seedcapital
INCORRECT
Innovativeentrepreneursmayhavetopayhighinsurance
premiumsduetothe:
A)Theneedtoprotectpatents
B)Greateremployeeliability
C)Greatercustomerliability
D)Greatertradingrisks
CORRECT
Networkingbyinnovativeentrepreneursmaybemost
encouragedby?
A)Scienceparks
B)Businessincubators
C)ChambersofCommerce
D)Businessassociations
10
CORRECT
Themostlikelyproblemencounteredbyinnovative
entrepreneursinraisingfinanceis:
A)LimitedsecuritysinceR&Disanintangibleasset
B)Thecostsofthepatentingsystem
C)TheexhaustionofpersonalequityinR&D
D)Inabilityofpotentialexternalfunderstounderstand
technology
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Date: SatMar1903:59:16EDT2016
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