ODB Chapter 1

What is entrepreneurship

• the process by which people recognize opportunities to satisfy their needs

• the process by which people recognize opportunities to gather and meet their needs

• the process by which people recognize opportunities to use resources to meet their needs

• the process by which people recognize opportunities to satisfy needs and then gather and use resources to meet those needs

What is Ikigai?

• Doing what you love

• Doing what you good at

• Doing what the world needs

• Doing what you can be paid for

In which steps of business process that we can create additional/meaningful value?

• The input steps

• The conversion (processing) steps

• The output steps

• All of these options are correct

Which concepts is explained in organizational theory?

• Organizational structure

• Organizational culture

• Organizational design

• Organizational change

Why do we need to learn about organizational theory?

• To set up organizational core competences

• To gain competitive advantage

• To set up organizational strategy

• All of these options are correct

What does "economies of scale" mean?

• Cost savings that result when goods & services are

  produced in large volume on automated production lines

• Cost savings that result when an organization is able to use underutilized resources more effectively because they can be shared across different products or tasks

• The costs associated with negotiating, monitoring, &

  governing exchanges between people

• All of these options are correct

What does "economies of scope" mean?

• Cost savings that result when goods & services are

  produced in large volume on automated production lines

• Cost savings that result when an organization is able to use underutilized resources more effectively because they can be shared across different products or tasks

• The costs associated with negotiating, monitoring, &

  governing exchanges between people

• All of these options are correct

What does "transaction costs" mean?

• Cost savings that result when goods & services are

  produced in large volume on automated production lines

• Cost savings that result when an organization is able to use underutilized resources more effectively because they can be shared across different products or tasks

• The costs associated with negotiating, monitoring, &

  governing exchanges between people

• All of these options are correct