ELE 3010 EXAM 2 QUESTIONS AND
CORRECT ANSWERS!!
All these are characteristics of an entrepreneurial environment except:
there are short term horizons
By delaying entry, late movers:
can learn from the actions of first movers without incurring the same costs.
A reflection task would involve thinking about what strategies should be used to solve a
problem. (T/F)
False
A new entry includes all of the following except:
Creating a new brand name for your company.
The period of time when the environment is favorable for entrepreneurs to exploit a
particular new entry is called the window of opportunity. (T/F)
True
Newness of a new entry is always an advantage. (T/F)
False
In the McMullen-Shepherd Model the first stage is the evaluation stage.
False
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.
Generally, independent, venture-capital based start-ups by entrepreneurs tend to
outperform corporate start-ups significantly. (T/F)
True
, The McMullen-Shepherd Model helps to identify the common traits of successful
entrepreneurs. (T/F)
False
Which is NOT a leadership characteristic of corporate entrepreneur according to the text?
Encourages colleagues to follow hierarchy.
_________ includes initiative and risk taking, as well as competitive aggressiveness and
boldness.
Proactiveness
The basic building blocks to a firm, or the inputs into the production process, are:
resources
Corporate entrepreneurship is best described as:
entrepreneurial action within an organization.
Entrepreneurially run firms are driven by controlled resources whereas traditionally
managed firms are managed by perception of opportunity. (T/F)
False
Entrepreneurial opportunities are those situations in which new goods, services, raw
materials, and organizing methods can be sold at greater than production cost. (T/F)
True
Offering a small product range to a small number of customer groups is:
a narrow-scope strategy
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.
Entrepreneurial culture and growth orientation consists of all the following except:
CORRECT ANSWERS!!
All these are characteristics of an entrepreneurial environment except:
there are short term horizons
By delaying entry, late movers:
can learn from the actions of first movers without incurring the same costs.
A reflection task would involve thinking about what strategies should be used to solve a
problem. (T/F)
False
A new entry includes all of the following except:
Creating a new brand name for your company.
The period of time when the environment is favorable for entrepreneurs to exploit a
particular new entry is called the window of opportunity. (T/F)
True
Newness of a new entry is always an advantage. (T/F)
False
In the McMullen-Shepherd Model the first stage is the evaluation stage.
False
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.
Generally, independent, venture-capital based start-ups by entrepreneurs tend to
outperform corporate start-ups significantly. (T/F)
True
, The McMullen-Shepherd Model helps to identify the common traits of successful
entrepreneurs. (T/F)
False
Which is NOT a leadership characteristic of corporate entrepreneur according to the text?
Encourages colleagues to follow hierarchy.
_________ includes initiative and risk taking, as well as competitive aggressiveness and
boldness.
Proactiveness
The basic building blocks to a firm, or the inputs into the production process, are:
resources
Corporate entrepreneurship is best described as:
entrepreneurial action within an organization.
Entrepreneurially run firms are driven by controlled resources whereas traditionally
managed firms are managed by perception of opportunity. (T/F)
False
Entrepreneurial opportunities are those situations in which new goods, services, raw
materials, and organizing methods can be sold at greater than production cost. (T/F)
True
Offering a small product range to a small number of customer groups is:
a narrow-scope strategy
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.
Entrepreneurial culture and growth orientation consists of all the following except:
