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Business English Exercises

Entrepreneurial Behavior

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Home > Teaching Business English > Business English Lessons, Advanced Level # 280
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The term 'entrepreneur' was introduced to economics by Richard Cantillon in 1755; since then, entrepreneurship and its central ........., the entrepreneur, have been the focus of numerous studies, including the qualities of entrepreneurial behavior, and corporate entrepreneurship.

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Recently, a new stream of literature has formed ......... strategic entrepreneurship (Hitt et al. 2002a; Meyer and Heppard).

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This new area of research is different from what has been traditionally ......... as strategic management research.

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501 Business English Exercises — Printable, photocopiable.
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Instead of focusing on the ......... that can be used to sustain competitive advantage (i.e., existing market position), strategic entrepreneurship is about recognizing and taking advantage of new profit opportunities.

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A firm that manages for strategic flexibility and constant renewal is able to ......... above-average profits and thus is rewarded for its entrepreneurial behavior.

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The return to entrepreneurial behavior is entrepreneurial rent, and unlike most factor costs, entrepreneurial rents are noncontractible; this is because the entrepreneur ......... judgments to allocate resources in an uncertain environment.

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Because the judgments are framed in an uncertain environment, the judgments themselves are uncertain and are thus ex ......... noncontractible.

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Because entrepreneurship is not as ......... as other factors, the analysis of payments to entrepreneurial behavior is complex.

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The aim of Ross and Westgren's paper is to include entrepreneurship in a model of the firm while reducing this dimensionality to two categories, arbitrage and innovation; they highlight what the entrepreneur receives for these activities and what governs their ......... from the stream of profits.

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Following this model, entrepreneurial rents are then ......... calculated for a three-site hog production farm.

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Business English Practice Exercises Business English Tests — several topics are covered: office matters, job applications, computer English, money expressions, business law, operations management, retail marketing, e-commerce, accounting terms, contracts and agreements, commercial correspondence, etc.
You will be exposed to a wealth of authentic sample sentences that include a great variety of themes. This compact Business English Test Package is the only printable English test collection currently available on the Internet. It contains 501 Business English Exercises (10 questions per test plus answer keys).  Get your unique Business English Practice Exercises now!

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