MGMT 485 EXAM 1 QUESTIONS & ANSWERS
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:
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
growth orientation consists of all of the following except:
there are short term horizons. - Answer -All these are characteristics of an
entrepreneurial environment except:
, A company must be willing to invest money without a guarantee of a return in the short
term - Answer -Which of the following is true about corporate entrepreneurship?
Encourages colleagues to follow hierarchy - Answer -Which is NOT a leadership
characteristic of a corporate entrepreneur according to the text?
Creating a new product development process for your company - Answer -A new entry
includes all of the following except:
entrepreneurial strategy. - Answer -The set of decisions, actions, and reactions that first
generate, and then exploit over time, a new entry is:
Market research to identify a new entry opportunity. - Answer -Which among the
following is not a key stage of the entrepreneurial strategy?
Risk reduction strategies - Answer -Which item is not part of the new entry generation
stage in the entrepreneurial strategy process?
resources. - Answer -The basic building blocks to a firm, or the inputs into the
production process, are:
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:
valuable. - Answer -To be the basis of a firm's superior performance over competitors
for an extended period of time, resources need to be:
Franchises - Answer -_________ are used to protect the owner of the technology from
people imitating the technology.
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:
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
growth orientation consists of all of the following except:
there are short term horizons. - Answer -All these are characteristics of an
entrepreneurial environment except:
, A company must be willing to invest money without a guarantee of a return in the short
term - Answer -Which of the following is true about corporate entrepreneurship?
Encourages colleagues to follow hierarchy - Answer -Which is NOT a leadership
characteristic of a corporate entrepreneur according to the text?
Creating a new product development process for your company - Answer -A new entry
includes all of the following except:
entrepreneurial strategy. - Answer -The set of decisions, actions, and reactions that first
generate, and then exploit over time, a new entry is:
Market research to identify a new entry opportunity. - Answer -Which among the
following is not a key stage of the entrepreneurial strategy?
Risk reduction strategies - Answer -Which item is not part of the new entry generation
stage in the entrepreneurial strategy process?
resources. - Answer -The basic building blocks to a firm, or the inputs into the
production process, are:
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:
valuable. - Answer -To be the basis of a firm's superior performance over competitors
for an extended period of time, resources need to be:
Franchises - Answer -_________ are used to protect the owner of the technology from
people imitating the technology.
