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LATEST EXAM PACK QUESTIONS AND ANSWERS AND SUMMARIZED NOTES FOR EXAM PREPARATION UPDATED FOR 2024 EXAMS.
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MNE3702EXAM PACK
2024
LATEST EXAM PACK QUESTIONS AND
ANSWERS AND SUMMARIZED NOTES FOR
EXAM PREPARATION UPDATED FOR 2024
EXAMS.
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MNE3702/201/1/2020
1
2 1. INTRODUCTION
Dear Student
Well done on getting this far. We hope that you have enjoyed the Corporate
Entrepreneurship journey so far.
The purpose of this tutorial letter is to provide you with feedback on Assignments 01
and 02 as well as provide information regarding the examination.
2. FEEDBACK ON ASSIGNMENT 01
Although there will be no multiple-choice questions in the examination, the following
clarities do form a vital part of the learning process. Read these comments carefully
and compare them with the reasoning in your answers to the questions.
QUESTION 1
The correct answer is 1. Refer to page 8 in Kuratko et al (2011).
Heraclitus’ quote “nothing endures but change” is most relevant in today’s business
environment. The quest for competitive advantage requires that companies and the
managers within them continually reinvent themselves. Kuratko et al (2011:8) believe
advantage derives from five key company capabilities, namely adaptability (the
capability in question), flexibility, speed, aggressiveness, innovativeness.
QUESTION 2
The correct answer is 2. Refer to pages 17 to 18 in Kuratko et al (2011).
Statements a and d are incorrect. Delegation (not collaboration) takes the form of
creating semi-autonomous product divisions and strategic business units. Therefore
statement a is incorrect. When companies simplify structures and procedures,
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reduce head office staff, reassign staff experts, create matrix structures and
emphasise innovative projects involving cross-functional teams, growth through
collaboration takes place; it is not growth through coordination. Therefore statement
d is incorrect. Both statements b and c on start-up and early growth and growth
through direction respectively are correct, therefore the correct answer is option 2 (b
and c).
QUESTION 3
The correct answer is 3. Refer to pages 23 to 24 in Kuratko et al (2011).
Options a and d are both statements which do not indicate necessarily that any
entrepreneurial behaviour is taking place within Microsoft, therefore these two
statements are incorrect in light of this question. Whereas, statements b and c both
indicate that some form of entrepreneurial behaviour could be taking place within the
company. For instance, with a team of experts in search of new ideas (statement b)
and billions of dollars spent on research and development (statement b) an
entrepreneurial environment within the corporate is evident. Therefore option 3 (b
and c) is correct.
QUESTION 4
The correct answer is 4. Refer to pages 37 to 39 in Kuratko et al (2011).
When the layman on the street is asked about ‘entrepreneurship’, often start-up
entrepreneurship comes to mind. Many do not consider the concept corporate
entrepreneurship and its importance in innovation within a company. While corporate
entrepreneurship shares many similarities with start-up entrepreneurship, these two
types of entrepreneurship also possess very unique differences (therefore statement
b is incorrect). A summary of these differences are displayed in Table 2-2 on page 38
of the prescribed book. As a quick reference to the differences, one will learn that
rather major differences can be found with job security (b), ownership of the concept
(d) and the potential for scale and scope (e). Option c represents a similarity of the
two types of entrepreneurship where both are driven by an individual champion.
Therefore, option 4 (b, d and e) is the correct answer.
4
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QUESTION 5
The correct answer is 3. Refer to page 47 in Kuratko et al (2011).
Entrepreneurship can be manifested in many ways in an established company. The
source of the entrepreneurship could be a unit that has been set up for the explicit
purpose of innovating, or from departments which do not have the primary task of
innovation or R&D. The options 1 to 4 present four of the seven ways in which
entrepreneurship can be manifested in established companies; however the blank
that question 5 tasks you to identify is option 3 - champions and the mainstream. It is
with this means that employees from any level or department within the organisation
are able to develop innovative concepts based on an opportunity that they have
recognised, and then attempt to sell the idea(s) to senior management.
QUESTION 6
The correct answer is 4. Refer to page 62 in Kuratko et al (2011).
Innovation poses a large number of dilemmas for corporate managers, a long list of
such dilemmas can be found in Table 3-2 in the prescribed book. Question 6 asked
you which of the four statements were correct. The incorrect statement is option c
(making option 4 the correct answer), as not all entrepreneurs are innovators, and
not all innovators are entrepreneurs, but successful entrepreneurship does tend to
involve continued innovation (see point 1 of the sixteen Dilemmas of Innovation).
QUESTION 7
The correct answer is 4. Refer to pages 74 to 75 in Kuratko et al (2011).
An entrepreneurial event varies in terms of the degree of entrepreneurship (how
much innovativeness, risk-taking, and proactiveness is involved) and the frequency
of entrepreneurship (how many entrepreneurial events take place within a company
over a given period of time). To assess the overall level of entrepreneurship in a
company, the concepts of degree and frequency must be considered together, this
decides the entrepreneurial intensity (EI). To better understand the concept on of EI,
take a look at Figure 3-5 in the prescribed book.
To answer question 7, we know that M&M Manufacturers have introduced a new
product that has revolutionised the market – the key word here is revolutionised. This
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