Module 2 Quiz

What are the two crucial elements in the definition of innovation?

failed market introduction & something new
failed market introduction & something existing
successful market introduction & something existing
successful market introduction & something new

What is one of the main differences between open innovation and closed innovation?

open innovation requires control whereas closed innovation requires collaboration
open innovation requires collaboration whereas closed innovation requires control
open innovation requires closed innovation
control requires collaboration

What are the four risks with innovation (start-ups and scale-ups)?

lose your goodwill; lose your invested time; lose your reputation; loose other people’s invested capital
lose your invested capital; lose your invested time; lose other people’s reputation; loose other people’s goodwill
lose your invested capital; lose your invested time; lose your reputation; loose other people’s goodwill
lose your invested capital; lose your reputation; lose other people’s invested time; loose other people’s goodwill

What are the four levels of protection of innovation?

non-legal and registered; legal and non-registered; informal; none
legal and registered; non-legal and non-registered; informal; none
legal and registered; legal and non-registered; formal; none
legal and registered; legal and non-registered; informal; none

What is an entrepreneurial ecosystem?

The whole set of connected players that are relevant for the development of entrepreneurship in a certain region.
The whole set of players or connections that are relevant for the development of entrepreneurship in a certain region.
The whole set of connected players that are relevant for the development of entrepreneurship globally.
The whole set of players or connections that are relevant for the development of entrepreneurship globally.

What are the three indicators that signal the vibrancy of an entrepreneurial ecosystem?

diversity, fluidity, connectivity
density, diversity, connectivity
density, fluidity, diversity
density, fluidity, connectivity

What kind of entrepreneurial ecosystem attribute is ‘mentors and role models’?

Social
Material
Cultural
None of these three

What is defined by facilities that provide shared resources for young businesses?

Business accelerators
Knowledge valorization by universities
Business incubators
Entrepreneurial ecosystems

What are the four stages of the life cycle of a small firm in the proper sequence?

conception – start – growth – maturity
start – maturity – growth – decline
start – growth – maturity -decline
start – growth – decline – maturity

How do small business change during their life cycle?

Only in terms of sales diversification
Only in terms of employment dispersion
In terms of both sales diversification and employment dispersion
In terms of neither sales diversification nor employment dispersion

Which three roles can the entrepreneur exercise:

professional, leader, manager
owner, leader, manager
professional, leader, owner
professional, leader, owner

One alternative approach of the life cycle of the firm consists of seed – start-up – early growth – established. What is the relationship of these four stages with the level of investment risk assumed by investors?

No relationship
Neutral relationship
Negative relationship
Positive relationship

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