ELE 3010 Parnell Midterm Exam Questions and Answers Graded A+
true - Answers (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
false - Answers (T/F) a reflection task would involve thinking about what strategies should be
used to solve a problem
true - Answers (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
false - Answers (T/F) in the McMullen-Shepherd Model the first stage is the evaluation stage
the desire to grow at a slow and controlled pace - Answers entrepreneurial culture and growth
orientation consists of all the following except:
-the desire to grow at a slow and controlled pace
-encouraging employees to generate ideas
-being creative
-focusing on opportunities
a company must be willing to invest money without a guarantee of a return in the short term -
Answers which of the following is true about corporate entrepreneurship?
-top management should not be involved in the process
-teams should be segmented by department
-a company must be willing to invest money without a guarantee of a return in the short term
- equity in a new venture should not be used as a reward due to its uncertain value
false - Answers (T/F) newness of a new entry is always an advantage
false - Answers (T/F) the question "What is technology all about?" is a comprehension question
risk - Answers _______ refers to the probability, and magnitude, of a downside loss
false - Answers (T/F) customers always embrace change in products and services
there are short term horizons (wrong) - Answers All these characteristics of an entrepreneurial
environment except:
-there are short term horizons
, -new ideas are encouraged
-it uses a multidiscipline teamwork approach
-the organization operates on frontiers of technology
opens the firm up to many different "fronts" of competition (wrong) - Answers A broad-scope
strategy:
-opens the firm up to many different "fronts" of competition
-offers a way of reducing competition-related risks
-is vulnerable to the risk that market demand does not materialize as expected and/or changes
overtime
-focuses the firm on producing customized products, localized business operations, and high
levels of craftmanship
entrepreneurs rent or sporadically use resources; managers like to own resources - Answers In
regards to the differences between the entrepreneurial and administrative focuses which of the
following is correct?
-entrepreneurs tend to use a hierarchical management structure; managers use a more fluid, flat
approach
-entrepreneurs rent or sporadically use resources; managers like to own resources
-entrepreneurs focus on slow steady growth and managers focus on rapid growth
-entrepreneurs are driven by controlled resources; managers by opportunity
false (wrong) - Answers (T/F) The McMullen-Shepherd Model helps identify the common traits
of successful entrepreneurs
creating a new brand name for your company - Answers A new entry includes all of the following
except:
-offering a new product to a new market
-offering an established product to a new market
-creating a new brand name for your company
-creating a new organization
true - Answers (T/F) entrepreneurially managed firm structure is usually flat with multiple
informal networks
true - Answers (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
false - Answers (T/F) a reflection task would involve thinking about what strategies should be
used to solve a problem
true - Answers (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
false - Answers (T/F) in the McMullen-Shepherd Model the first stage is the evaluation stage
the desire to grow at a slow and controlled pace - Answers entrepreneurial culture and growth
orientation consists of all the following except:
-the desire to grow at a slow and controlled pace
-encouraging employees to generate ideas
-being creative
-focusing on opportunities
a company must be willing to invest money without a guarantee of a return in the short term -
Answers which of the following is true about corporate entrepreneurship?
-top management should not be involved in the process
-teams should be segmented by department
-a company must be willing to invest money without a guarantee of a return in the short term
- equity in a new venture should not be used as a reward due to its uncertain value
false - Answers (T/F) newness of a new entry is always an advantage
false - Answers (T/F) the question "What is technology all about?" is a comprehension question
risk - Answers _______ refers to the probability, and magnitude, of a downside loss
false - Answers (T/F) customers always embrace change in products and services
there are short term horizons (wrong) - Answers All these characteristics of an entrepreneurial
environment except:
-there are short term horizons
, -new ideas are encouraged
-it uses a multidiscipline teamwork approach
-the organization operates on frontiers of technology
opens the firm up to many different "fronts" of competition (wrong) - Answers A broad-scope
strategy:
-opens the firm up to many different "fronts" of competition
-offers a way of reducing competition-related risks
-is vulnerable to the risk that market demand does not materialize as expected and/or changes
overtime
-focuses the firm on producing customized products, localized business operations, and high
levels of craftmanship
entrepreneurs rent or sporadically use resources; managers like to own resources - Answers In
regards to the differences between the entrepreneurial and administrative focuses which of the
following is correct?
-entrepreneurs tend to use a hierarchical management structure; managers use a more fluid, flat
approach
-entrepreneurs rent or sporadically use resources; managers like to own resources
-entrepreneurs focus on slow steady growth and managers focus on rapid growth
-entrepreneurs are driven by controlled resources; managers by opportunity
false (wrong) - Answers (T/F) The McMullen-Shepherd Model helps identify the common traits
of successful entrepreneurs
creating a new brand name for your company - Answers A new entry includes all of the following
except:
-offering a new product to a new market
-offering an established product to a new market
-creating a new brand name for your company
-creating a new organization
true - Answers (T/F) entrepreneurially managed firm structure is usually flat with multiple
informal networks
