EEE 370 MIDTERM EXAM NEWEST
2026/ COMPLETE QUESTIONS AND
CORRECT ANSWERS( VERIFIED
ANSWERS)| ALREADY GRADED A+
Disruptive Business Models --Correct Answers-- Business models that are rare and do
not fit the profile of a standard business model, but are impactful enough that they
disrupt of change the way business is conducted in an industry
Fixed Costs --Correct Answers-- The costs that a company incurs in operating an
business whether it sells or not
Business Model --Correct Answers-- A company's plan for how it competes, uses its
resources, structures its relationships, etc.
Business Plan --Correct Answers-- A written document describing all the aspects of a
business venture, usually to raise money and attract business partners
Corporate Entrepreneurship --Correct Answers-- Behavior orientation exhibited
(established firms with an entrepreneurial emphasis that is proactive, innovative and
risk taking
s
Creative Destruction --Correct Answers-- Process by which new products and
technologies making current ones obsolete
Entrepreneurial Firms --Correct Answers-- Companies that bring new products and
services to market by seizing opportunity.
Entrepreneurial Intensity --Correct Answers-- The position of a firm on a conceptual
continuum that ranges from highly conservative to highly entrepreneurial.
Entrepreneurship --Correct Answers-- The process by which individuals purse
opportunities without regard to resources they control.
Execution Intelligence --Correct Answers-- The ability to fashion a solid business idea
into a viable business
Innovation --Correct Answers-- The process of creating something new
, Lifestyle Firms --Correct Answers-- Businesses that provide their owners the
opportunity to pursue a particular lifestyle and earn a living while doing so (e.g. ski
instructors, golf pros)
Product/Customer Focus --Correct Answers-- Emphasizes producing good products
with the capability to satisfy customers
Salary-substitute firms --Correct Answers-- Small firms that yield a level of income for
their owner or owners that is similar to what they would earn when working for an
employer (i.e. dry cleaners, restaurants)
Triggering Event --Correct Answers-- The event that prompts an individual to become
and entrepreneur (e.g. losing a job, inheritance)
Value --Correct Answers-- Relative worth, importance, or utility
Brainstorming --Correct Answers-- A technique used to quickly generate a large
number of ideas and solutions to problems; conducted to generate business
opportunites
Entrepreneurial Alertness --Correct Answers-- The ability to notice things without
engaging in deliberate search
Network Entrepreneurs --Correct Answers-- Entrepreneurs who identified their idea
through social contacts
Opportunity --Correct Answers-- A favorable set of circumstances that creates a need
for a new product, service or business
Opportunity Gap --Correct Answers-- An entrepreneur recognizes a problem and
creates a business to fill it
Opportunity Recognition --Correct Answers-- The process of perceiving the possibility
of a profitable new business or a new product or service
Solo Entrepreneurs --Correct Answers-- Entrepreneurs who identified their business
idea on their own
Window of Opportunity --Correct Answers-- The time period in which a firm or an
entrepreneur can realistically enter a new market
Concept Statement --Correct Answers-- A preliminary description of a business that
includes descriptions of the product or service being offered, the intended target market,
the benefits of the product, the position in the market, and how the product will be sold
2026/ COMPLETE QUESTIONS AND
CORRECT ANSWERS( VERIFIED
ANSWERS)| ALREADY GRADED A+
Disruptive Business Models --Correct Answers-- Business models that are rare and do
not fit the profile of a standard business model, but are impactful enough that they
disrupt of change the way business is conducted in an industry
Fixed Costs --Correct Answers-- The costs that a company incurs in operating an
business whether it sells or not
Business Model --Correct Answers-- A company's plan for how it competes, uses its
resources, structures its relationships, etc.
Business Plan --Correct Answers-- A written document describing all the aspects of a
business venture, usually to raise money and attract business partners
Corporate Entrepreneurship --Correct Answers-- Behavior orientation exhibited
(established firms with an entrepreneurial emphasis that is proactive, innovative and
risk taking
s
Creative Destruction --Correct Answers-- Process by which new products and
technologies making current ones obsolete
Entrepreneurial Firms --Correct Answers-- Companies that bring new products and
services to market by seizing opportunity.
Entrepreneurial Intensity --Correct Answers-- The position of a firm on a conceptual
continuum that ranges from highly conservative to highly entrepreneurial.
Entrepreneurship --Correct Answers-- The process by which individuals purse
opportunities without regard to resources they control.
Execution Intelligence --Correct Answers-- The ability to fashion a solid business idea
into a viable business
Innovation --Correct Answers-- The process of creating something new
, Lifestyle Firms --Correct Answers-- Businesses that provide their owners the
opportunity to pursue a particular lifestyle and earn a living while doing so (e.g. ski
instructors, golf pros)
Product/Customer Focus --Correct Answers-- Emphasizes producing good products
with the capability to satisfy customers
Salary-substitute firms --Correct Answers-- Small firms that yield a level of income for
their owner or owners that is similar to what they would earn when working for an
employer (i.e. dry cleaners, restaurants)
Triggering Event --Correct Answers-- The event that prompts an individual to become
and entrepreneur (e.g. losing a job, inheritance)
Value --Correct Answers-- Relative worth, importance, or utility
Brainstorming --Correct Answers-- A technique used to quickly generate a large
number of ideas and solutions to problems; conducted to generate business
opportunites
Entrepreneurial Alertness --Correct Answers-- The ability to notice things without
engaging in deliberate search
Network Entrepreneurs --Correct Answers-- Entrepreneurs who identified their idea
through social contacts
Opportunity --Correct Answers-- A favorable set of circumstances that creates a need
for a new product, service or business
Opportunity Gap --Correct Answers-- An entrepreneur recognizes a problem and
creates a business to fill it
Opportunity Recognition --Correct Answers-- The process of perceiving the possibility
of a profitable new business or a new product or service
Solo Entrepreneurs --Correct Answers-- Entrepreneurs who identified their business
idea on their own
Window of Opportunity --Correct Answers-- The time period in which a firm or an
entrepreneur can realistically enter a new market
Concept Statement --Correct Answers-- A preliminary description of a business that
includes descriptions of the product or service being offered, the intended target market,
the benefits of the product, the position in the market, and how the product will be sold
