MGMT 485 EXAM 1 QUESTIONS AND CORRECT ANSWERS
100% VERIFIED
Entrepreneurial Opportunities - ANSWER situations in which new goods, services, raw
materials and organizing methods can be sold at greater than their production cost.
the entrepreneur decides whether the opportunity that exists is a match with their own
knowledge and motivation. - ANSWER In Stage One of the McMullen-Shepherd Model:
the entrepreneur decides whether or not there is an opportunity. - ANSWER In Stage
Two of the McMullen-Shepherd Model:
exist when the basic (relatively easy to observe) elements of the technology resemble
the basic elements of the market. - ANSWER In regards to thinking structurally,
superficial similarities:
starts with a desired outcome and focuses on a means to generate that outcome. -
ANSWER Causal process of thinking:
File for patent protection - ANSWER Which of the following is NOT a stage in Kolter's
procedure in bringing a product/service to market?
Comprehension questions - ANSWER Questions designed to increase an entrepreneurs'
understanding of the nature of the environment are known as:
A reflection task - ANSWER An entrepreneur considering if what they are doing makes
sense is an example of:
Reflection tasks - ANSWER __________ are designed to stimulate thought about
entrepreneurs' understanding and feelings as they progress through the
, entrepreneurial process.
Reflection tasks - ANSWER An entrepreneur asks if there is a better way to implement a
strategy. Identify the category of this question.
feasible - ANSWER Individuals have stronger intentions to act when taking action is
perceived to be _____ and desirable.
labels that indicated when the wine was cold - ANSWER Robert Mondavi came up with
all of the following process innovations except:
a capsule-free, flange-top bottle design. - ANSWER In 1994 Robert Mondavi came up
with:
entrepreneurial action within an organization. - ANSWER Corporate entrepreneurship is
best described as:
Proactiveness - ANSWER _____ includes initiative and risk taking, as well as competitive
aggressiveness and boldness.
Innovativeness - ANSWER New product development falls under which of the four major
components of corporate entrepreneurship?
Entrepreneurs rent or sporadically use resources; managers like to own resources -
ANSWER With regard to the differences between the entrepreneurial and administrative
focuses which of the following is correct?
that one focuses on accessing others' resources. - ANSWER Having an entrepreneurial
orientation towards the control of resources means:
the desire to grow at a slow and controlled pace. - ANSWER Entrepreneurial culture and
100% VERIFIED
Entrepreneurial Opportunities - ANSWER situations in which new goods, services, raw
materials and organizing methods can be sold at greater than their production cost.
the entrepreneur decides whether the opportunity that exists is a match with their own
knowledge and motivation. - ANSWER In Stage One of the McMullen-Shepherd Model:
the entrepreneur decides whether or not there is an opportunity. - ANSWER In Stage
Two of the McMullen-Shepherd Model:
exist when the basic (relatively easy to observe) elements of the technology resemble
the basic elements of the market. - ANSWER In regards to thinking structurally,
superficial similarities:
starts with a desired outcome and focuses on a means to generate that outcome. -
ANSWER Causal process of thinking:
File for patent protection - ANSWER Which of the following is NOT a stage in Kolter's
procedure in bringing a product/service to market?
Comprehension questions - ANSWER Questions designed to increase an entrepreneurs'
understanding of the nature of the environment are known as:
A reflection task - ANSWER An entrepreneur considering if what they are doing makes
sense is an example of:
Reflection tasks - ANSWER __________ are designed to stimulate thought about
entrepreneurs' understanding and feelings as they progress through the
, entrepreneurial process.
Reflection tasks - ANSWER An entrepreneur asks if there is a better way to implement a
strategy. Identify the category of this question.
feasible - ANSWER Individuals have stronger intentions to act when taking action is
perceived to be _____ and desirable.
labels that indicated when the wine was cold - ANSWER Robert Mondavi came up with
all of the following process innovations except:
a capsule-free, flange-top bottle design. - ANSWER In 1994 Robert Mondavi came up
with:
entrepreneurial action within an organization. - ANSWER Corporate entrepreneurship is
best described as:
Proactiveness - ANSWER _____ includes initiative and risk taking, as well as competitive
aggressiveness and boldness.
Innovativeness - ANSWER New product development falls under which of the four major
components of corporate entrepreneurship?
Entrepreneurs rent or sporadically use resources; managers like to own resources -
ANSWER With regard to the differences between the entrepreneurial and administrative
focuses which of the following is correct?
that one focuses on accessing others' resources. - ANSWER Having an entrepreneurial
orientation towards the control of resources means:
the desire to grow at a slow and controlled pace. - ANSWER Entrepreneurial culture and
