ELE 3010 Hope Parnell Exam UPDATED
ACTUAL QUESTIONS AND CORRECT
ANSWERS
Entrepreneurial Opportunities - CORRECT ANSWER situations in which new goods, services,
raw materials, ad organizing methods can be introduced or sold at greater than their cost of production
Entrepreneurial Action - CORRECT ANSWER creation of new product or process, or entry into
new markets. Can occur in new organization or established organization
First Stage of the Mullen Shepherd Model - CORRECT ANSWER Attention Stage. Does an
opportunity exist?
Second state of the mullen shepherd model - CORRECT ANSWER Evaluation stage- does an
opportunity exist for me?
superficial similarities - CORRECT ANSWER when something is obvious to
structural similarities - CORRECT ANSWER things that people will miss, aren't obvious to
everyone ex: NASA example
Bricolage - CORRECT ANSWER When entrepreneurs apply what they have to new problems
and opportunities
Effectuation - CORRECT ANSWER start with a disarmed outcome and figure out how to get
there
effectuation process - CORRECT ANSWER start with what you have and select among
possible outcomes
Cognitive adaptability - CORRECT ANSWER extent to which entrepreneurs are mentally
flexible- how good they are at generating multiple decision frameworks
, metacognitive awareness - CORRECT ANSWER ability to understand/ control ones thinking
and learning
achieving cognitive adaptability - CORRECT ANSWER comprehension questions
connection tasks
strategic tasks
reflection tasks
self efficacy - CORRECT ANSWER how much you believe in yourself
perceived desirability - CORRECT ANSWER degree to which outcome is evaluated as
favorable
Corporate Entrepreneurship - CORRECT ANSWER capitalizes on individuals who can do
things differently and better
Step 1 of corporate entrepreneurship - CORRECT ANSWER secure commitment from top
upper and middle management levels
New entry - CORRECT ANSWER new product or service in an established or new market- an
established product in a new market- a new organization
new entry strategy - CORRECT ANSWER set of decisions actins reactions that generate exploit
new entry over time
new entry resources - CORRECT ANSWER bricolage
attractiveness of a new entry depends on - CORRECT ANSWER level of information,
willingness to make a decision based on limited info
ACTUAL QUESTIONS AND CORRECT
ANSWERS
Entrepreneurial Opportunities - CORRECT ANSWER situations in which new goods, services,
raw materials, ad organizing methods can be introduced or sold at greater than their cost of production
Entrepreneurial Action - CORRECT ANSWER creation of new product or process, or entry into
new markets. Can occur in new organization or established organization
First Stage of the Mullen Shepherd Model - CORRECT ANSWER Attention Stage. Does an
opportunity exist?
Second state of the mullen shepherd model - CORRECT ANSWER Evaluation stage- does an
opportunity exist for me?
superficial similarities - CORRECT ANSWER when something is obvious to
structural similarities - CORRECT ANSWER things that people will miss, aren't obvious to
everyone ex: NASA example
Bricolage - CORRECT ANSWER When entrepreneurs apply what they have to new problems
and opportunities
Effectuation - CORRECT ANSWER start with a disarmed outcome and figure out how to get
there
effectuation process - CORRECT ANSWER start with what you have and select among
possible outcomes
Cognitive adaptability - CORRECT ANSWER extent to which entrepreneurs are mentally
flexible- how good they are at generating multiple decision frameworks
, metacognitive awareness - CORRECT ANSWER ability to understand/ control ones thinking
and learning
achieving cognitive adaptability - CORRECT ANSWER comprehension questions
connection tasks
strategic tasks
reflection tasks
self efficacy - CORRECT ANSWER how much you believe in yourself
perceived desirability - CORRECT ANSWER degree to which outcome is evaluated as
favorable
Corporate Entrepreneurship - CORRECT ANSWER capitalizes on individuals who can do
things differently and better
Step 1 of corporate entrepreneurship - CORRECT ANSWER secure commitment from top
upper and middle management levels
New entry - CORRECT ANSWER new product or service in an established or new market- an
established product in a new market- a new organization
new entry strategy - CORRECT ANSWER set of decisions actins reactions that generate exploit
new entry over time
new entry resources - CORRECT ANSWER bricolage
attractiveness of a new entry depends on - CORRECT ANSWER level of information,
willingness to make a decision based on limited info
