ELE 3010 QUIZ 2 STUDY GUIDE 2026 TESTED
QUESTIONS AND PRACTICE SOLUTION
GRADED A+
◉ The basic building blocks to a firm, or the inputs into the
production process, are:
Answer: resources
◉ Corporate entrepreneurship is best described as:
Answer: entrepreneurial action within an organization.
◉ Entrepreneurially run firms are driven by controlled resources
whereas traditionally managed firms are managed by perception of
opportunity. (T/F)
Answer: False
◉ Entrepreneurial opportunities are those situations in which new
goods, services, raw materials, and organizing methods can be sold
at greater than production cost. (T/F)
Answer: True
◉ Offering a small product range to a small number of customer
groups is:
, Answer: a narrow-scope strategy
◉ In regards to thinking structurally, superficial similarities:
Answer: exist when the basic (relatively easy to observe) elements
of the technology resemble the basic elements of the market.
◉ Entrepreneurial culture and growth orientation consists of all the
following except:
Answer: the desire to grow at a slow and controlled pace.
◉ The effectuation process starts with what one has and selects
among possible outcomes. (T/F)
Answer: True
◉ In encouraging a culture for corporate entrepreneurship, using
older, proven, technology is recommended in order to increase
stability in the organization. (T/F)
Answer: False
◉ _______ refers to the probability, and magnitude, of downside loss.
Answer: Risk
QUESTIONS AND PRACTICE SOLUTION
GRADED A+
◉ The basic building blocks to a firm, or the inputs into the
production process, are:
Answer: resources
◉ Corporate entrepreneurship is best described as:
Answer: entrepreneurial action within an organization.
◉ Entrepreneurially run firms are driven by controlled resources
whereas traditionally managed firms are managed by perception of
opportunity. (T/F)
Answer: False
◉ Entrepreneurial opportunities are those situations in which new
goods, services, raw materials, and organizing methods can be sold
at greater than production cost. (T/F)
Answer: True
◉ Offering a small product range to a small number of customer
groups is:
, Answer: a narrow-scope strategy
◉ In regards to thinking structurally, superficial similarities:
Answer: exist when the basic (relatively easy to observe) elements
of the technology resemble the basic elements of the market.
◉ Entrepreneurial culture and growth orientation consists of all the
following except:
Answer: the desire to grow at a slow and controlled pace.
◉ The effectuation process starts with what one has and selects
among possible outcomes. (T/F)
Answer: True
◉ In encouraging a culture for corporate entrepreneurship, using
older, proven, technology is recommended in order to increase
stability in the organization. (T/F)
Answer: False
◉ _______ refers to the probability, and magnitude, of downside loss.
Answer: Risk
