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Practice Questions - 1ZM20 Technology Entrepreneurship
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41 self-made practice exam derived from the video lectures
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Example questions course1. Guus Frericks, the founding father of HighTechXL once mentioned a short
anecdote. At one point in time, all his financial resources where stuck in his
entrepreneurial projects, leaving no money for his wife to go to the supermarket.
What effectuation principle could have helped him to ensure such a situation
would NOT occur?
a. The bird-in-hand principle.
b. The pilot in the plane principle.
c. The crazy quilt principle.
d. The affordable loss principle.
2. In 2007, Zott and Amit published a study that examined the relationship
between business model innovation and performance. Their study confirmed:
a. A positive effect of novelty-centered business model design on the
performance of the entrepreneurial firm.
b. A positive effect of efficiency-centered business model design on the
performance of the entrepreneurial firm.
c. A positive effect of the interaction between novelty-centered and
efficiency-centered business model designs on the performance of the
entrepreneurial firm.
d. A negative effect of the interaction between novelty-centered and
efficiency-centered business model designs on the performance of the
entrepreneurial firm.
3.The phase of creativity in Greiner’s growth model ends with the crisis of _____.
a. Leadership
b. Red Tape
c. Autonomy
d. Control
,4. Michael runs a B-2-G (business to government) consulting firm. As a result, his
business depends a lot upon the outcome of the elections, making it very difficult
for Michael to predict how the political environment will be affecting his
company. What type of uncertainty do Michael and his business suffer from?
a. Effect uncertainty.
b. Demand uncertainty.
c. Response uncertainty.
d. State uncertainty.
Correct answer: B
Answers Course
1. D
2. A this research paper is discussed in the web lectures of week 2, watching
the web lecture is sufficient to be able to answer this question).
3. A
4. B
, Example questions ChatGPT
1. Which principle states that entrepreneurs should start with their
means at hand and not wait for the perfect opportunity?
a. The bird-in-hand principle.
b. The pilot in the plane principle.
c. The crazy quilt principle.
d. The affordable loss principle.
2. The term 'Lemonade' in the context of effectuation refers to:
a. The idea of turning surprises into opportunities.
b. A sour business venture that fails to profit.
c. A standardized business model.
d. The process of setting clear business goals.
3. Which principle focuses on partnerships and strategic alliances?
a. The bird-in-hand principle.
b. The pilot in the plane principle.
c. The crazy quilt principle.
d. The affordable loss principle.
4. The 'Pilot in the plane' principle emphasizes:
a. The entrepreneur's ability to predict the future.
b. The entrepreneur's control over actions rather than predictions.
c. The importance of financial investment in a startup.
d. The ability to adapt to market demands.
5. In effectuation, the concept of 'Affordable loss' refers to:
a. Minimizing all possible losses in a business.
b. The amount an entrepreneur is willing to risk.
c. The total investment made by an entrepreneur.
d. The loss incurred due to uncontrollable factors.
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