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Probeklausur 2016, Fragen und Antworten - (WS 2015/16), winter
Introduction to Entrepreneurship (WI000801/WI0001058) (0000000117)
Technische Universität München
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Introduction to Entrepreuneurship WS Autoren Julian Pleyl, Richard Wittig, Annkathrin Swanson, Paula Riedel, Elise Nonnenmann, Nadja Reim, Sonia Neumann, Carina Reuter, Joana Morais, Christian Zusammengestellt von Tufan Turgut Es handelt sich um keine offizielle Klausur. 147 Fragen inklusive Session 2 There are four people. Who brings hypothetically the best requirements for being an entrepreneur? a) The conventional, hardy type b) The skeptical, dependable, one c) The creative, curious, quiet one d) The organized, compassionate What does the trait not imply directly? a) The belief that one can organize and effectively execute actions to produce certain outcomes b) c) A strong positive impact on entrepreneurial action and success d) The tendency to perceive uncertain situations in a neutral and open way Which of these methods do not belong to the techniques of creativity we learned in the lecture? a) Conceptual Combination b) Attribute Analysis c) Checklist Method d) WIBNI What is, in general, the approach to creative ideas when you use analogical Reasoning? a) Applying the knowledge of one domain, as a kind of model to help in developing new ideas in another domain b) Generating new ideas mentally combining different, previously unrelated concepts c) Applying the knowledge of nature, as a kind of model to help in developing new ideas in another domain d) Foster convergent and divergent thinking, that also includes intuition as well as irrationality Which of these statements about personality is not true? a) P. is influenced genetics and environmental factors, mainly experiences in childhood b) Some traits may determine the level of entrepreneurial activity of managers c) P. is relatively stable and does not change during the different periods of life d) Personality traits relate for example to attitudes or temperament Harmonious passion is not consistent a) Strong Persistence b) Setting of challenging goals c) Feeling unhappy when you work d) Creative Problem Solving What effects does entrepreneurial passion not have on others? a) pretty soon everybody around will catch the passion from you like a b) Employees show less commitment to a venture if the passion is not compatible with their goals values c) More passion often means more Investors who are interested in venture d) If the entrepreneurs passion is high, employees feel generally less committed to a venture Session 3 What is not part of the Entrepreneurial process? a) Opportunity development b) Idea generation c) Growth d) Analysing competitors What is true about a business idea a) Only entrepreneurs with years of experience can develop a good business idea b) Its success depends on countless factors c) Building a business out of an idea always follows the same known steps d) Having a business idea is the hardest step in founding a firm What is not important to explain when presenting your idea to investors? a) Who is the customer b) What makes your product better than comparable alternatives c) How you came up with the idea d) What is the size of the market potential What is not true about business opportunities? a) a chance to address market needs b) It can be turned into a product or service that creates or adds value for its customers c) They can only be found in the growing technology sector d) Entrepreneurs discover, evaluate and exploit opportunities What factor does not contribute to opportunities identification? a) Networks b) Creativity c) Knowledge d) Intelligence What is not true about knowledge and creativity? a) prior knowledge can determine their opportunity recognition b) The more knowledge you gain the more creativity you have c) Knowledge can be restricting in developing opportunities d) Creativity is needed to overcome restrictions What role do social networks not play in finding a business opportunity? a) They encourage you to go on b) They provide information c) They promise support d) They provide you with the business idea Which environmental change does not lead to a potential business opportunity? a) Technological inventions b) Law changes c) Demographic changes d) Extinction of animals What is true about explaining your idea to other people? a) Verbally expressed ideas are easy to imagine b) People imaging your idea the same way as you c) Ideas are hard to explain and therefore often wrong received d) Good ideas are easier to explain Session 3 end 1D, 2B, 3C, 4C, 5D, 6B, 7D, 8D, 9C Session 4 What is not true about brainstorming? a) Try to find as many ideas as wild a s possible b) Judge as soon as possible about the ideas c) Everybody gets the chance to tell their ideas d) Try to build new ideas on those ideas which are already there What is true about creativity and brainstorming? a) It is harder to evaluate ideas than to find them b) Time pressure influences creativity in a positive way c) Working in a team fosters creativity d) Teamwork only works with people you already know Which factors could you stimulate to improve the recognition of opportunitites according to Baron ? a) Risk tolerance b) Knowledge and watchfulness to changes in Search for opportunities c) Ready for Prior education in management d) Network of education in Search for opportunities What is wrong about persuasion? a) It is a form of social influence b) Persuasion works via money c) Psychology and social influence tactics is important for persuasion d) Communication styles and elements can guide people to a certain idea, attitude or action What is important for preparing to persuade s.? a) You need to know what everybody wants. Never think about a compromise b) You need to know what everybody wants to achieve, what a good compromise could look like and what everybodys BATNA is c) Only think about what you exactly want and what could be the best compromise for you d) Try to find out what the other party exactly wants and what their compromise could look like What should you do during a discussion? a) Never ask questions b) Do not try to achieve a compromise c) Give central and peripheral cues to persuade d) Try not to use bargaining tactics What does BATNA mean? a) Best alternative to a negative agreement b) Best alternative to a negotiated arrangement c) Best alternative to a negotiated agreement d) Best alteration to a negotiated agreement Which techniques are for reciprocity? a) Door in the face and low balling b) Door in the face and foot in the door c) Door in the face and not all folks d) That s not all folks and foot in the door What is wrong about what happens after the failure? a) can learn from the failure b) The loss of a business is likely to generate a negative emotional response c) Grief can interfere with motivation to try again d) grief is not part of the failure What is not a symptom of grief? a) Disappointment b) Bewilderment c) Anger d) Happiness What is true about the grief recovery process? a) and are not descriptions of the process of recovering from grief b) no longer positive emotional responses to the business c) thoughts about the events surrounding no longer generate a negative emotional response d) normally grief will never go away What is wrong about a) Involves working through some aspect of the loss experience b) Emotional bonds to the obect lost are breaking c) Involves confrontation (physically and mentally exhausting) d) Reduces the sense of relief that the events surrounding the loss are finally over Session 4 end 1B, 2C, 3B, 4B, 5B, 6C, 7C, 8B, 9C, 10B, 11C, 12B, 13A, 14A, 15C, 16D, 17D, 18C, 19D Session 5 Which effect is NOT a reason, why Germany needs entrepreneurs? a) they can create jobs b) Germany as a country will stay competetive c) they will reduce taxes d) they can increase the wealth Which of the following statements is right? a) Most of the German DAX companies were founded between 1950 and b) Most of the German DAX companies were founded between 1850 an 1950 c) SAP has been founded before World War II d) Siemens has been founded after World War II Stefan Vilsmeier founded in 1989 as a student a software company, which is called... a) Voxeljet b) Brain Corporation c) Bionade d) Brainlab Voxeljet is a company in the field of ... a) 3D Printing b) the beverage Industry c) the space technology d) the motor industry Peter Kowalskys beverage is innovative, because... a) it is blue b) you can brew it at home in a little vat c) it is organic and brewed like beer d) it contains artificial sugar Who represent the of TUM? a) Nicolaus August Otto b) Carl von Linde c) Rudolf Diesel d) Claude Dornier Which machine did Carl von Linde invent? a) engine b) refrigerator c) diesel engine d) microwave Which is not a main aim for the UnternehmerTUM? a) more talents b) more startups c) more cooperation d) more PhD students Which aspect is not a main aspect of the UnternehmerTUM? a) developing concepts b) realizing business c) creating jobs d) identifying opportunities How many Startups are in the active network of UnternehmerTUM? a) over 400 b) over 500 c) over 600 d) over 700 The entrepreneurial team at UnternehmerTUM mainly got a track record as: a) accountants b) entrepreneurs c) corporate innovators d) venture capitalists Which is NOT a Startup at the UnternehmerTUM? a) fos4X GmbH b) Orpheus GmbH c) Roding Automobile GmbH d) 3S DentCare GmbH A woman who designed a bra that should keep the breasts of woman beautiful ended with successfully selling a product which keeps men from snoring. Which of these statements is wrong? a) you never know who is your customer. a. she should have kept the concept of the beauty bra. b) if she had ask for more feedback probably had the idea sooner. c) there is no possibility that there is another new way to use the beauty bra. What do SMART goals stand for? a) to think smart about achieving goals b) smart, motivated, attainable, risky, topical c) specific, measurable, achievable, relevant, d) specific, motivated, achievable, risky, terminal Does the following goal follow the rules of SMART goals? at least one business opportunity within 3 months which at least 5 different persons from 3 different groups seriously consider to be viable and a) No, because it b) No, because only a small subgoal c) No, the opinions of others are not relevant for a business idea d) Yes, it does For a business idea, an entrepreneur should take advantage of: a) his own creativity b) his own working experience c) technical skills of persons around him d) a, b and c If someone uses the causation process to develop a new business idea, one definitely NOT a) analyses which product has a big market b) searches for a product with a big profit c) first has a look on the resources that are available and after that creates an idea only with this resources d) pays many employees to design the product If you look in your fridge and decide what to cook with the ingredients you have this process is called: a) execution process b) causation process c) effectuation process d) reason process After an entrepreneur recognized, people on the autism spectrum have very special talents he founded a firm, which employs only these persons as a) The founder only wanted to found an b) He surely hoped to earn lots of money c) He was d) He will never be successful with this idea Which one is NOT an advantage of being a) guaranteed that gain a lot of money in a short period of time. b) You are not chasing investors. c) You can start lean with only view resources. d) You are increasing the likelihood of finding or creating opportunities that fit for you. John Osher invented an electric lolli pop. After he sold this firm, he thought about something else to do. He wrote down everything he did wrong with his first venture and then he went to the supermarket and recognized the big margin gap of electric tooth brushes. So he used his logistic contacts with Chinese firms and founded a Spin Brush company. Which of these factors help him to found the company? a) knowledge of the technique b) prior knowledge how to create a business c) knowledge of a possible market d) knowledge of the function of tooth brushes When you start your business it is always a good idea to a) keep the losses affordable b) sign long term contracts c) buy expensive machines to produce more d) invest in large storages of material Which one is a causation principle to cope with uncertainity? a) base your decision on you you and you b) build your future together with customers, suppliers and even competitors c) Calculate downside potential and risk no more than you can afford to lose d) Avoid surprises Which one is an effectuation principle to cope with uncertainity? a) Calculate upside potential and pursue the (risk adjusted) best opportunity b) Build your future together with customers, suppliers and even competitors c) Have given goals based on predictions d) Avoid surprises One can compare a partnership with a quilt. Which aspect of this metaphor is wrong? a) Quilter has a wider latitude than puzzle solver in putting together pieces and can choose the arrangement b) Especially for small companies the risk of going down in a quilt is very high and they should therefore rather not cooperate with others. c) A quilt not only has to be meaningful and pleasing, but also useful and valuable for keeping the body warm d) Good quilters in large projects work with others. You want to set up a truck rental company: moving equipment Nationwide (in a large country e. Canada, US) (rent in one city, give back in another city) What is the best way to do so (following the effectuation process)? a) buy many new trucks b) find partners like gas station and split the profit c) the project is not psychologically viable otherwise someone else would have done it already d) do expensive advertising to become as many customers as possible Which an advantage of forming partnerships? a) Each stakeholder brings new means to the venture b) Each stakeholder only strives to invest what they can afford to lose c) A partnership environment contains unexpected contingencies which can be leveraged d) A stakeholder is only good for new money What is unimportant for entrepreneurial teams? a) coming to agreements about their vision b) building up structures c) preventing change of task conflicts into relationship conflicts d) to resign responsibilities and roles What is not true about entrepreneurial managers as leaders? a) you need no resources for making your business come true b) your goal is winning other people to support your business c) influencing other people is a key point d) leadership can be or In 1963 Martin Luther King was getting famous with his speech have a He convinced many people of his dream mainly because of... a) touching the heart b) talking a long time in an unattractive way c) his nice clothing d) his aversion for what he believes in What is not characteristic of traditional (transactional) leadership? a) rational exchange b) hortative wages c) courage to perform badly d) contingent reward and punishment From the Four from entrepreneurial leadership behavior is built of a) Individualized Consideration Idealized Influence b) Inspirational Motivation Individualized Consideration c) Intellectual Stimulation Idealized Influence d) Inspirational Motivation Idealized Influence Individual growth encouraged mentoring is part of a) Idealized Influence b) Inspirational Motivation c) Individualized Consideration d) Intellectual Stimulation What is no characteristic point of Intellectual Stimulation: Stimulating innovative and creative solutions ? a) asking questions b) reframing problems c) public criticism of mistakes d) encouraging to express ideas Ethical standards and values are part of a) Idealized Influence b) Inspirational Motivation c) Individualized Consideration d) Intellectual Stimulation No characteristic point of Idealized Influence is a) capabilities b) values c) d) emotional appeal Transactional leadership is advantageous if a) the solution of problems is unknown b) creative actions are needed c) followers need to overcome for the sake of the group d) the leader has clear power Transactional leadership is not advantageous if a) environment is uncertain and dynamic b) standard procedures and simple solutions exist c) goals have to be met d) motivation of the followers can be ensured rewards What is a wrong definition of a vision? a) positive, general and emotionally idea related to values b) clear and unique image of the future c) projected mental image d) clear, specific, ideal and unique image of the past In coming up with a vision you need to know a) your offering and specials b) the benefits of your product c) how to perform in a humbly way d) your goals with this product Session 7 end 1B, 2C, 3A, 4D, 5B, 6B, 7D, 8A, 9A, 10C, 12D, 13C, 14C, 15A, 16D, 17D, 18A, 19D, 20C Session 8 Entrepreneurs are often in situations in a) Transformational leadership is advantageous b) Transactional leadership is needed First mover strategy means a) more competitive rivalry, secure important supplier, cost disadvantages b) Market uncertainty, a chance to satisfy customers, technological uncertainty c) Informational advertising , creating a frame of reference, educating customers Prominent examples for imitation strategy are a) Coca Cola and Netscape b) Ebay and home 24 c) Glossybox and Clickbus The imitation strategy offers a) Franchising and reducing customer uncertainty b) Higher costs through copying products because of the organizational legitimacy c) Less competitive rivalry and an advantage to satisfy customers The Ansoff matrix consists of a) strategy, strategy, market development strategy, first mover strategy b) Penetration strategies, diversification strategies, market development strategies, product development strategies c) Market development strategies, first mover strategy, growth strategy, diversification strategy If you have Ownership advantages and no internalization advantages it ist a) Licensing b) Subsidiary c) Export Exporting involves a) Sale and shipment of products from one to another country b) Sale and shipment of products within the country Joint Venture describes a) Two or more firms form a new enterprise and share the equity b) More than one firm, that take still existing enterprises and share the equity Licensing is due to a) Giving a local manufacture the right to produce and sell a product b) Giving a foreign licensee the right to produce and sell a product a licensor in return for a payment Subsidiary is defined as a) Separate legal entities controlled a separate higher entity b) Separate distinct legal entities controlled themselves Session 8 end 1A, 2C, 3C, 4A, 5B, 6B, 7A, 8C, 9A, 10B, 11A, 12B, 13B, 14A, 15C, 16A, 17A, 18A, 19B, 20A Session 9 What is one of the most greatest motivations for a business to go global? a) demand from foreign customers b) First mover advantages c) Limitedpotentialofhomemarket d) Need to keep up with competitors What is an example of a market based barrier? a) local ownership restrictions (joint ventures) b) import tariffs c) problems in finding skilled personnel d) local content clauses for foreign direct investments Which one is not a mode? a) export b) licensing c) franchising d) joint ventures Which description describes the process of licensing? a) Entrepreneur sells the rights of his company to another company b) A new enterprise is formed in which the equity is shared between two or more firms c) An entrepreneur sells the right to use the business model to a foreign company in return for the payment of a fee d) An entrepreneur gives a foreign manufacturer the right to produce and sell a product in return for the payment of a royalty A disadvantage of choosing joint ventures as an entry mode is... a) lack of control over licensee and licensed property b) conflicts with franchisee c) no autonomous decision making d) control of franchisee network potentially complex An example of barriers is... a) problems in finding skilled personnel b) import tariffs or quota c) local ownership restrictions (joint ventures) d) local content clauses for foreign direct investments Which factor influences both pricing and distribution decisions in international markets? a) disposable income of customers b) image factors c) infrastructure d) competition Fast is an advantage of the entry mode... a) licensing b) franchising c) joint ventures d) subsidiaries What does the eclectic theory J. Dunning explain? a) the choice of foreign market entry mode b) the process of autonomous decision making and strategic planning c) the choice of which foreign market to cater to (foreign market selection) d) the process of expanding businesses into foreign markets Which one is not an example of an emerging motivation to go global? a) to markets b) to use global operations to others c) to access emerging trends d) to exploit economies of scale and scope Which one of the following is a contractual entry mode alternative? a) joint venture b) franchise c) subsidiary d) direct export High investment costs may arise when... a) using a foreign export management firm in the local market b) starting a franchise c) acquiring a subsidiary d) several partners form a new enterprise in which they share the equity What explanation describes the location theory best? a) FDI driven search for, or defense of, competitive advantage b) FDI driven internal transaction efficiency c) FDI driven management of the global product life cycle d) FDI driven internal transaction Further questions Transactional leadership is the better option of leadership, if... a) Creative actions are needed b) Short term goals have to be met c) The environment is mainly uncertain d) Unconventional actions are needed the followers What is NOT an advantage oft he first mover strategy: a) A better position to satisfy customers b) Less competitive rivalry c) No opportunity to gain expertise through participation d) Cost advantages Which oft he following is NOT a SMART goal to motivate and enhance performance: a) Specific b) Measurable c) Achievable d) Reducable There are many reasons to generate ideas to fill market gaps. What is an advantage of a idea: a) You are waiting for the perfect opportunity b) You are forcing yourself to be creative with few resources c) Working on your strengths is not really important d) You are chasing investors Which of the following statements is not correct? a) Entrepreneurs contribute to the wealth of our country b) Entrepreneurship forces many businesses to shut down, putting the jobs of many people at stake. c) Entrepreneurs contribute to the comfort of our lives d) In world entrepreneurship is not a needed characteristic of all managers, for not all managers need to handle in an entrepreneurial manner Which of the following is a typical entrepreneurial type of managing? a) Thinking about my business concept in a general manner and see how I can improve it through buying similar business concepts b) Setting the goal of stealing of market share from the adversaries over the next two years c) Thinking about my business concept in a general manner and see how I can improve it adding ideas from other business concepts d) Acquiring as many supermarkets around Munich as possible to get a monopoly of supermarkets in Munich Which of the following people has the least predisposition to start a new business in a new industry? a) Someone married to an entrepreneur and highly antagonistic b) Someone agreeable, extraverted and open to experience c) Someone with a propensity to taking risks and a generalized d) Someone open to experience, with parents who are What is the best way to handle a new market idea? a) Keep it away from prying eyes as long as possible, so that no one can steal it b) Getting feedback from random people, so as to be able to improve the product before it reaches the markets and get a general idea where it can fit in the market c) Getting investors as soon as possible, so that it can be in the market as soon as possible, so that you can start doing some upgrades with the feedback that comes from users d) Make as many studies and market researches as possible, so that you can be certain to whom you have to sell you product to and concentrate of your efforts on that customer What should someone do when pitching a product? a) Try to reach his goals no matter what and walk away in case they get fulfilled b) Embellish the results it has been getting to heighten the chances of it being picked c) Know what the other party wants and trying to negotiate something that can achieve the goals of both parties, even though it does not fully fulfils the set goals d) Try to manipulate the other party to take a deal, so as to fully reach the goals set before the meeting End 1b, 2c, 3d, 4b, 5d, 6c, 7a, 8b, 9c
Probeklausur 2016, Fragen und Antworten - (WS 2015/16), winter
Kurs: Introduction to Entrepreneurship (WI000801/WI0001058) (0000000117)
Universität: Technische Universität München
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