chapter 5

Question 1

____ is activities associated with seeking opportunities that generate new value, with an array of unknown forces

Answer 1

entrepreneurship

Question 2

____ ____ are the capacities, activities, and strengths that enable individuals to manage successfully in high-risk business environments

Answer 2

entrepreneurial skills

Question 3

____-____ are newly formed organizations with limited or no operational history

Answer 3

start-ups

Question 4

____ ____ are innovations that create new markets through the discovery of new categories of customers

Answer 4

disruptive innovations

Question 5

____ ____ is the process of creating new products, ventures, processes, or renewal within large corporations

Answer 5

corporate entrepreneurship

Question 6

____ ____ are people who think and act entrepreneurially within different types of organizations

Answer 6

entrepreneurs inside

Question 7

A ____ ___ is a business owned and managed by multiple family members typically for more than one generation

Answer 7

family enterprise

Question 8

____ ____ are people who start several businesses, whether simultaneously or one after another

Answer 8

serial entrepreneurs

Question 9

____ ____ are the activities and processes that increase the worth of a product or service

Answer 9

value creation

Question 10

A ____ is when small failures allow entrepreneurs to react quickly and change direction where necessary

Answer 10

pivot

Question 11

____ is the quality that enables people to work hard and sustain interest in their long-term goals

Answer 11

grit