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47 Cards in this Set

  • Front
  • Back
The knowledge structures that people use to make assessments, judgments, or decisions involving opportunity, evaluation, venture creation, and growth.
Entrepreneurial Cognitions
Maxim that states that moderate amounts of difficulty lead to optimal performance
Yerkes-Dodson law
The environment in which entrepreneurs find themselves. _____ includes such aspects as the economic climate, availablity of capital, support networks, and technological resources
That aspect of conation that allows entrepre­neurs to visualize their goals and dreams so that they can act on them
Possible Self
The people whom an entrepreneur meets and knows and who may be able to provide value added input to the new venture
Social Network
A relationship that plays only one role in an entrepreneur's social network.
Single Stranded
A measure of people's ability to understand and use their emotions to solve life's problems
Emotional Intelligence
A development step in which planners identify the skills and knowledge required to learn or perform a specific task
Task Analysis
A development step in which planners start with their desired end result and then identify their most immediate state and the required procedures to meet the desired result.
Backwards planning
The connection of knowledge and affect to behavior; associated with the issue of "why."
The webs of contacts that help bring about success for the entrepreneur who is starting and growing a new venture.
Social Capital
A theory that human needs can be divided into five basic categories: physiological, safety, social, esteem, and self-actualization.
Maslow's hierarchy of needs
Perceptive tendencies among entrepreneurs that enable them to make complex decisions despite incomplete information. Examples include:
- Overconfidence
- Belief in Small numbers
- Planning Fallacy
- The illusion of control
- Reasoning by analogy
Cognitive Biases
Management theories that assert that different behaviors, cognitions, and attitudes are effective in different contexts.

_______ assert that different behaviors, cognitions, and attitudes are effective in different contexts
Contingency Theories of Management
Descriptive behavioral characteristics, such as introverted, analytical, brash, and emotional
Personality Types
A pattern or cluster of traits.

- High Need for Acheivement
- Low need to conform
- Persistence
- High Energy Levels
- Risk-Taking Tendency
Personal Characteristics
Method used by entrepreneurs within their social networks to shorten their path to crucial resources
A relationship that plays only one role in an entrepreneur's social network
Single Stranded
Relationiships within an entrepreneur's social network that play multiple roles
Multiplex Ties
Areas of study that are concerned with individual memory, perception, thinking, and information processing
Cognition and cognitive psychology
The use of will or the freedom to make choices about what to do.
The term intrapreneur has been applied to the person who acts as an entrepreneur within a corporate environment. (T or F)
Growth-oriented entrepreneurs have a high need for achievement: they need to succeed, to achieve, and to accomplish challenging tasks.
(T or F)
Growth-oriented entrepreneurs listen, but they are able to ignore others' advice. (T or F)
Successful entrepreneurs have intense focus on their core business in the early stages of their ventures.
(T or F)
The important factor to entrepreneurial success is working with others to achieve goals. (T or F)
During the planning phase, entrepreneurs seek the knowledge and resources they need to launch their venture.
(T or F)
Drive is the intangible element of personality that is expressed as low energy and the ability to work long hours. (T or F)
Higher goals are set when the individual is emotionally aroused, and lower goals are set when the individual is depressed.
(T or F)
"Making choices" is not one of the aspects of the direction subcomponent of conation. (T or F)
People must consider several important issues when setting goals. First, their goals must be easy but attainable. (T or F)
Kolbe's action, or conative mode, of follow through is identified as a (ORA)
Tendency to
- Organize
- Reform
- Adapt
Entrepreneurs at the opportunity evaluation phase of a new venture exhibit a number of distinct cognitive biases. These tendencies include
2) Belief in the law of small numbers
3) The illusion of control.
4) All of the above
The areas of cognition and cognitive psychology focus on
Individual memory, perception, thinking,
All of the above
Which of the following is a fundamental behavior exhibited by all successful entrepreneurs?
Be focused
Which of the following terms describes the ability of entrepreneurs to deal with failure and continue beyond it without dwelling a long time on how it happened?
Growth-oriented entrepreneurs have a high need for achievement: they need to succeed, to achieve, and to accomplish challenging tasks. The strong desire for achievement leads to a desire for independence. Such entrepreneurs need to be free to set their own course, establish their own goals, and use their own style. The need for achievement may help explain why growth-oriented entrepreneurs are not satisfied with founding or working in one firm; they need to prove themselves again and again.
High Need for Acheivement
Growth-oriented entrepreneurs listen, but they are able to ignore others' advice. Also, handling skeptics is easy for entrepreneurs. Taking the unpopular course of action, if they consider it best, is the way they do business
Low need to conform
Growth-oriented entrepreneurs are focused and persistent, doggedly doing what is best for the business to succeed. They work hard on the details and relentlessly attempt to find ways to become more profitable
The capacity for sustained effort requires a high energy level. The necessary work–planning, organizing, directing, creating strategy, and finding funds–can only be accomplished on a demanding schedule. The sixty-hour to eighty-hour workweek is common to entrepreneurs who have the drive to succeed no matter what it takes from a physical stamina perspective.
High Energy Level
Four fundemental behaviors that all successful entrepeneurs exhibit.
- Belief
- Committment
- Drive
- Focus
Research has shown that an entrepreneur's social network varies from time to time depending on the different phases of the venture's life. Phases of venture development from this perspective are...
- Phase 1: The Motivation Phase. Entrepreneurs discuss the initial idea and develop the business concept.
- Phase 2: The Planning Phase. Entrepreneurs seek the knowledge and resources needed to launch the venture
- Phase 3: The Establishment Phase. Entrepreneurs actually establish and run the venture
McClelland's findings suggest that people with a high need for achievement tend to take risks. Growth-oriented entrepreneurs believe so strongly in their ability to achieve that they do not see much possibility of failure. Thus they accept risk and find it motivating.
Risk-Taking Tendency
Kolbe's action, or conative mode, of implementer is identified as (CRE)
Tendency to
- Construct
- Renovate
- Envision
Kathy Kolbe's four action, or conative modes are..
1) Fact Finder
2) Follow through
3) Quick Start
4) Implementer
President and Editor of the Golden Eagle Publishing Company, Inc
Bill Rogers
President and founder of Visible Changes hair solon in 1979
John McCormack