Entrepreneurism. Chapters 2

Front 1

The knowledge structures that people use to make assessments, judgments, or decisions involving opportunity, evaluation, venture creation, and growth.

Back 1

Entrepreneurial Cognitions

Front 2

Maxim that states that moderate amounts of difficulty lead to optimal performance

Back 2

Yerkes-Dodson law

Front 3

The environment in which entrepreneurs find themselves. _____ includes such aspects as the economic climate, availablity of capital, support networks, and technological resources

Back 3

Context

Front 4

That aspect of conation that allows entrepre­neurs to visualize their goals and dreams so that they can act on them

Back 4

Possible Self

Front 5

The people whom an entrepreneur meets and knows and who may be able to provide value added input to the new venture

Back 5

Social Network

Front 6

A relationship that plays only one role in an entrepreneur's social network.

Back 6

Single Stranded

Front 7

A measure of people's ability to understand and use their emotions to solve life's problems

Back 7

Emotional Intelligence

Front 8

A development step in which planners identify the skills and knowledge required to learn or perform a specific task

Back 8

Task Analysis

Front 9

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.

Back 9

Backwards planning

Front 10

The connection of knowledge and affect to behavior; associated with the issue of "why."

Back 10

Conation

Front 11

The webs of contacts that help bring about success for the entrepreneur who is starting and growing a new venture.

Back 11

Social Capital

Front 12

A theory that human needs can be divided into five basic categories: physiological, safety, social, esteem, and self-actualization.

Back 12

Maslow's hierarchy of needs

Front 13

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

Back 13

Cognitive Biases

Front 14

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

Back 14

Contingency Theories of Management

Front 15

Descriptive behavioral characteristics, such as introverted, analytical, brash, and emotional

Back 15

Personality Types

Front 16

A pattern or cluster of traits.

- High Need for Acheivement
- Low need to conform
- Persistence
- High Energy Levels
- Risk-Taking Tendency

Back 16

Personal Characteristics

Front 17

Method used by entrepreneurs within their social networks to shorten their path to crucial resources

Back 17

Positioning

Front 18

A relationship that plays only one role in an entrepreneur's social network

Back 18

Single Stranded

Front 19

Relationiships within an entrepreneur's social network that play multiple roles

Back 19

Multiplex Ties

Front 20

Areas of study that are concerned with individual memory, perception, thinking, and information processing

Back 20

Cognition and cognitive psychology

Front 21

The use of will or the freedom to make choices about what to do.

Back 21

Violiition

Front 22

The term intrapreneur has been applied to the person who acts as an entrepreneur within a corporate environment. (T or F)

Back 22

True

Front 23

Growth-oriented entrepreneurs have a high need for achievement: they need to succeed, to achieve, and to accomplish challenging tasks.
(T or F)

Back 23

True

Front 24

Growth-oriented entrepreneurs listen, but they are able to ignore others' advice. (T or F)

Back 24

True

Front 25

Successful entrepreneurs have intense focus on their core business in the early stages of their ventures.
(T or F)

Back 25

True

Front 26

The important factor to entrepreneurial success is working with others to achieve goals. (T or F)

Back 26

True

Front 27

During the planning phase, entrepreneurs seek the knowledge and resources they need to launch their venture.
(T or F)

Back 27

True

Front 28

Drive is the intangible element of personality that is expressed as low energy and the ability to work long hours. (T or F)

Back 28

False

Front 29

Higher goals are set when the individual is emotionally aroused, and lower goals are set when the individual is depressed.
(T or F)

Back 29

True

Front 30

"Making choices" is not one of the aspects of the direction subcomponent of conation. (T or F)

Back 30

False

Front 31

People must consider several important issues when setting goals. First, their goals must be easy but attainable. (T or F)

Back 31

False

Front 32

Kolbe's action, or conative mode, of follow through is identified as a (ORA)

Back 32

Tendency to
- Organize
- Reform
- Adapt

Front 33

Entrepreneurs at the opportunity evaluation phase of a new venture exhibit a number of distinct cognitive biases. These tendencies include

Back 33

1)Overconfidence
2) Belief in the law of small numbers
3) The illusion of control.
4) All of the above

Front 34

The areas of cognition and cognitive psychology focus on

Back 34

Individual memory, perception, thinking,
All of the above

Front 35

Which of the following is a fundamental behavior exhibited by all successful entrepreneurs?

Back 35

Be focused

Front 36

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?

Back 36

Resilience

Front 37

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.

Back 37

High Need for Acheivement

Front 38

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

Back 38

Low need to conform

Front 39

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

Back 39

Persistence

Front 40

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.

Back 40

High Energy Level

Front 41

Four fundemental behaviors that all successful entrepeneurs exhibit.

Back 41

- Belief
- Committment
- Drive
- Focus

Front 42

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...

Back 42

- 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

Front 43

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.

Back 43

Risk-Taking Tendency

Front 44

Kolbe's action, or conative mode, of implementer is identified as (CRE)

Back 44

Tendency to
- Construct
- Renovate
- Envision

Front 45

Kathy Kolbe's four action, or conative modes are..
(FFQI)

Back 45

1) Fact Finder
2) Follow through
3) Quick Start
4) Implementer

Front 46

President and Editor of the Golden Eagle Publishing Company, Inc

Back 46

Bill Rogers

Front 47

President and founder of Visible Changes hair solon in 1979

Back 47

John McCormack