ELE 3010 Midterm Exam Hope Parnell
Clemson University
T/F: In the McMullen-Shepherd Model the first stage is the evaluation stage -
✔️✔️False
Which of the following is true about corporate entrepreneurship? - ✔️✔️A
company must be willing to invest money without a guarantee of a return
T/F: Entrepreneurial opportunities are those situations in which new goods,
services, raw materials and organizing methods can be sold at greater than their
production cost. - ✔️✔️True
______ refers to the probability, and magnitude, of downside loss. - ✔️✔️Risk
A new entry includes all of the following except: - ✔️✔️Creating a new product
development process for your company
T/F: The question "What is this technology all about?" is a comprehension
question. - ✔️✔️True
The basic building blocks to a firm, or the inputs into the production process , are:
- ✔️✔️resources
T/F: Entrepreneurially run firms are driven by controlled resources whereas
traditionally managed firms are driven by perception of opportunity - ✔️✔️False
Corporate entrepreneurship is best described as: - ✔️✔️entrepreneurial action
within an organization
T/F: In order to be the basis for a firm's superior performance, a bundle of
resources must be valuable, rare, and imitable. - ✔️✔️False
In regards to thinking structurally, superficial similarities: - ✔️✔️exist when the
basic (relatively easy to observe) elements of the technology resemble the basic
elements of the market
T/F: Newness of a new entry is always an advantage - ✔️✔️False
, T/F: In encouraging a culture for corporate entrepreneurship, using older, proven,
technology is recommended in order to increase stability in the organization -
✔️✔️False
T/F: A reflection task would involve thinking about what strategies should be
used to solve a problem - ✔️✔️False
Offering a small product range to a small number of customer groups is: - ✔️✔️a
narrow-scope strategy
Which is NOT a leadership characteristic of a corporate entrepreneur according
to the text? - ✔️✔️Encourages colleagues to follow hierarchy
T/F: Generally, independent, venture-capital based start-ups by entrepreneurs
tend to outperform corporate start-ups significantly - ✔️✔️True
The first step in establishing corporate entrepreneurship in an organization is: -
✔️✔️securing commitment from top management
T/F: Customers always embrace change in products and services. - ✔️✔️False
By delaying entry, late movers: - ✔️✔️can learn from the action of first movers
without incurring the same costs
T/F: Entrepreneurially managed firm structure is usually flat with multiple informal
networks - ✔️✔️True
In regards to the differences between the entrepreneurial and administrative
focuses which of the following is correct? - ✔️✔️Entrepreneurs rent or
sporadically use resources; managers like to own resources
________ includes initiative and risk taking, as well as competitive
aggressiveness and boldness - ✔️✔️Proactiveness
All these are characteristics of an entrepreneurial environment except: -
✔️✔️there are short term horizons
T/F: The period of time when the environment is favorable for entrepreneurs to
exploit a particular new entry is called the window of opportunity - ✔️✔️True
T/F: The effectuation process starts with what one has and selects among
possible outcomes - ✔️✔️True
Clemson University
T/F: In the McMullen-Shepherd Model the first stage is the evaluation stage -
✔️✔️False
Which of the following is true about corporate entrepreneurship? - ✔️✔️A
company must be willing to invest money without a guarantee of a return
T/F: Entrepreneurial opportunities are those situations in which new goods,
services, raw materials and organizing methods can be sold at greater than their
production cost. - ✔️✔️True
______ refers to the probability, and magnitude, of downside loss. - ✔️✔️Risk
A new entry includes all of the following except: - ✔️✔️Creating a new product
development process for your company
T/F: The question "What is this technology all about?" is a comprehension
question. - ✔️✔️True
The basic building blocks to a firm, or the inputs into the production process , are:
- ✔️✔️resources
T/F: Entrepreneurially run firms are driven by controlled resources whereas
traditionally managed firms are driven by perception of opportunity - ✔️✔️False
Corporate entrepreneurship is best described as: - ✔️✔️entrepreneurial action
within an organization
T/F: In order to be the basis for a firm's superior performance, a bundle of
resources must be valuable, rare, and imitable. - ✔️✔️False
In regards to thinking structurally, superficial similarities: - ✔️✔️exist when the
basic (relatively easy to observe) elements of the technology resemble the basic
elements of the market
T/F: Newness of a new entry is always an advantage - ✔️✔️False
, T/F: In encouraging a culture for corporate entrepreneurship, using older, proven,
technology is recommended in order to increase stability in the organization -
✔️✔️False
T/F: A reflection task would involve thinking about what strategies should be
used to solve a problem - ✔️✔️False
Offering a small product range to a small number of customer groups is: - ✔️✔️a
narrow-scope strategy
Which is NOT a leadership characteristic of a corporate entrepreneur according
to the text? - ✔️✔️Encourages colleagues to follow hierarchy
T/F: Generally, independent, venture-capital based start-ups by entrepreneurs
tend to outperform corporate start-ups significantly - ✔️✔️True
The first step in establishing corporate entrepreneurship in an organization is: -
✔️✔️securing commitment from top management
T/F: Customers always embrace change in products and services. - ✔️✔️False
By delaying entry, late movers: - ✔️✔️can learn from the action of first movers
without incurring the same costs
T/F: Entrepreneurially managed firm structure is usually flat with multiple informal
networks - ✔️✔️True
In regards to the differences between the entrepreneurial and administrative
focuses which of the following is correct? - ✔️✔️Entrepreneurs rent or
sporadically use resources; managers like to own resources
________ includes initiative and risk taking, as well as competitive
aggressiveness and boldness - ✔️✔️Proactiveness
All these are characteristics of an entrepreneurial environment except: -
✔️✔️there are short term horizons
T/F: The period of time when the environment is favorable for entrepreneurs to
exploit a particular new entry is called the window of opportunity - ✔️✔️True
T/F: The effectuation process starts with what one has and selects among
possible outcomes - ✔️✔️True
