Solutions and explanations for Previous Exam_2024_Winter Term.pdf are AI-generated based on notes. Official solutions are available in the document.
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b — Effectuation starts with setting goals from your means, then interacting with people to gain stakeholder commitments, while environmental changes and the potential dead end appear only later in the cycle Effectuation: Revealing Opportunities.
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b — In the startup phase, founders work in broad, overlapping roles that mainly focus on internal activities like resource acquisition and product development [[Market Entry & Growth#|#Role of Founders]].
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b — Multi-sided models create value for users but earn revenue from other paying customer segments, such as advertisers or platform partners Multi-Sided Business Models.
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a — Meta-analyses pool results from many studies to analyze relationships (e.g., traits and entrepreneurship) across studies and samples Meta-Analytic Findings: Big Five & Entrepreneurship.
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a — Team conflict is a team process mediator that is influenced by team inputs (like prior experience and personality) and affects venture outcomes Input-Mediator-Outcome Framework.
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b — BATNA (“Best Alternative to a Negotiated Agreement”) is a core concept in negotiations, guiding entrepreneurs’ bargaining position BATNA — Best Alternative to a Negotiated Agreement.
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a — Revenue Streams belong to the customer-facing side (front end) of the business model, describing how value from customers turns into income Revenue Streams.
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c — Segmented markets mean addressing different customer groups with distinct needs and problems (e.g., concurrent B2B and B2C) Customer Segments.
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a — In effectuation, each committed stakeholder brings new means (resources, skills, networks) that expand the entrepreneur’s opportunity space 3. Crazy Quilt: Form Partnerships.
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a — The classic effectuation principles are starting with your resources, focusing on affordable loss, forming partnerships, and leveraging surprises; “iterate and adapt” is not one of the named principles How to Develop Opportunities.
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a — Opportunity identification is strongly shaped by prior knowledge and experience, such as a surgeon using 3D printing to create bone replacement materials Knowledge & Creativity.
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c — Confidence, enthusiasm, and personal stories are typical cues of the peripheral route of persuasion, used when the audience has low motivation or ability to process detailed information Persuasion Techniques.
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a — Coca-Cola’s fridges and displays are physical assets required to deliver the value proposition, so they belong in Key Resources Key Resources.
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d — Backward orientation considers past contributions like idea premium, capital contribution, and opportunity costs, whereas titles are part of a forward-looking split Temporal Orientation.
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not relevant for Winter 2025
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a — Upcycling exemplifies starting from available resources (waste materials) to create new opportunities, aligning with the Bird-in-Hand principle 1. Bird-in-Hand: Start With Resources.
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a — Strong ties like sisters usually already share values and vision, so they are less likely to face a lack of understanding of each other’s values compared to weak-tie teams Prior Ties.
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c — Vesting is a structured schedule where equity is earned gradually over time or milestones, protecting the venture if someone leaves early Static & Dynamic Split.
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b — First movers can shape customer perceptions and preferences by being early in the market and building expertise through participation First-Mover vs. Last-Mover.
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not relevant for Winter 2025
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b — BATNA stands for “Best Alternative to a Negotiated Agreement,” describing what you will do if no deal is reached BATNA — Best Alternative to a Negotiated Agreement.
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c — The door-in-the-face technique (a large request followed by a concession) relies on reciprocity, making the smaller request more likely to be accepted Reciprocity.
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b — Ecuador and Chile have unusually high entrepreneurial activity compared with other countries at similar GDP per capita levels.
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not relevant for Winter 2025
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a — Zebra startups emphasize sustainable growth, social impact, and relationships, building mutualistic communities rather than chasing hyper-scaling Growth Ambitions.
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not relevant for Winter 2025
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b — Individuals’ prior knowledge and experiences are key inputs that shape whether they can recognize opportunities in new information or technologies Knowledge & Creativity.
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b — Copying how geckos climb walls is analogical reasoning, applying knowledge from biology to inspire technological solutions Analogical Reasoning.
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not relevant for Winter 2025
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not relevant for Winter 2025
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not relevant for Winter 2025
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d — Meta-analytic evidence shows entrepreneurs score higher than managers on conscientiousness, while differences for other traits are smaller or in the opposite direction Meta-Analytic Findings: Big Five & Entrepreneurship.
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not relevant for Winter 2025
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not relevant for Winter 2025
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not relevant for Winter 2025