Module 2 - The Entrepreneurial Culture

Question 1

• A concept which became a lifestyle and a mindset.
• it is a venture process that reflect activities of development, values and norms.
• it reflects different characteristics mirrored from a country, community, or institution.

Answer 1

Entrepreneurial culture

Question 2

5 Main Influences on Entrepreneurial Business Culture

Answer 2

(1) Industry’s innovation culture
(2) Founder’s spirit
(3) Employees’ innovative and entrepreneurial spirit
(4) Country and global cultures
(5) Local market’s culture

Question 3

• the level of technological innovation spirit
• the tolerance toward innovative process

Answer 3

Industry’s innovation culture

Question 4

• this includes the entrepreneurs’ drive to innovate, create, and take risks.

Answer 4

Founder’s spirit

Question 5

ability of the entrepreneurs to manage a team toward innovation, creativity, or opportunity identification when the team lacks entrepreneurial spirit.

Answer 5

Employee’s innovative and Entrepreneurial spirit

Question 6

play an important role for new inventions and development for offers that satisfy potential and current customers’ needs and wants.

Answer 6

Country and global cultures

Question 7

pertains to the customers’ acceptance whether they are motivated to buy and the ability and the readiness of the suppliers to comply.

Answer 7

Local market’s culture

Question 8

Four Main types of Entrepreneurial Culture

Answer 8

(1) An all inclusive entrepreneurial culture
(2) Stable and balanced entrepreneurial culture.
(3) Rational Entrepreneurship
(4) A width-wise entrepreneurial culture

Question 9

Is a way of life, the individual’s entrepreneurial characteristics are adapted and applied to all spheres of life.

Answer 9

An all inclusive entrepreneurial culture

Question 10

Address the individual entrepreneurs’ self awareness of the areas in which they are qualified, to use their entrepreneurial characteristics for their venture

Answer 10

Stable and balanced entrepreneurial culture

Question 11

Building opportunities from ideas carefully assess for innovation with the assistance of professionals and experts for market evaluation.

Answer 11

Rational Entrepreneurship

Question 12

Typified by the entrepreneur’s broader vision, and by ‘thinking big’

Answer 12

A width-wise entrepreneurial culture