Question 1

Why do entrepreneurial ventures tend to produce more radical innovations than larger, more established firms do?

Accepted Answer

A)  They have fewer resources. 
B)  They have more strategic flexibility. 
C)  Thy have more slack. 
D)  They have less slack. 
A)  They have fewer resources. 
B)  They have more strategic flexibility. 
C)  Thy have more slack. 
D)  They have less slack. B

Question 2

The use or application of entrepreneurship within an established firm is called:

Accepted Answer

A)  corporate emergence. 
B)  transformational leadership. 
C)  exceptional R&D. 
D)  corporate entrepreneurship. 
A)  corporate emergence. 
B)  transformational leadership. 
C)  exceptional R&D. 
D)  corporate entrepreneurship. D

Question 3

If the company's workers have scant existing knowledge, their "absorptive capacity" to learn new knowledge will be limited.

Accepted Answer

A) True 
 B)False  True

Question 4

The entrepreneurial mind-set is found primarily among managerial and scientific employees.

Accepted Answer

A) True 
 B)False

Question 5

Most innovations are incremental, not novel.

Accepted Answer

A) True 
 B)False

Question 6

Entrepreneurs tend to have all the following characteristics EXCEPT:

Accepted Answer

A)  a willingness to take responsibility for projects. 
B)  passion. 
C)  a preference for certainly about projects. 
D)  optimism. 
A)  a willingness to take responsibility for projects. 
B)  passion. 
C)  a preference for certainly about projects. 
D)  optimism.

Question 7

Autonomous strategic behavior results in internal innovations that are highly consistent with the firm's current strategy.

Accepted Answer

A) True 
 B)False

Question 8

Through the work of cross-functional teams, product development stages are grouped into __________ processes.

Accepted Answer

A)  short- and long-term 
B)  parallel 
C)  serially ordered 
D)  complementary 
A)  short- and long-term 
B)  parallel 
C)  serially ordered 
D)  complementary

Question 9

What is the importance of international entrepreneurship?

Accepted Answer

Engaging in international entrepreneursh

Question 10

Research suggests that __________ is needed to encourage entrepreneurial behavior.Two surveys were conducted in 2017 to identify the world's 10 most entrepreneurial or innovative countries.Why weren't all of the same countries on both lists?

Accepted Answer

A)  Entrepreneurship and innovation have two very different definitions. 
B)  Knowing the criteria to use in this identification is difficult. 
C)  The researchers conducting the studies were biased. 
D)  The studies were conducted throughout the year, and conditions changed. 
A)  Entrepreneurship and innovation have two very different definitions. 
B)  Knowing the criteria to use in this identification is difficult. 
C)  The researchers conducting the studies were biased. 
D)  The studies were conducted throughout the year, and conditions changed.

Question 11

Induced strategic behavior is a process that fosters product innovations that:

Accepted Answer

A)  are likely to change a firm's strategic intent and mission. 
B)  will lead to greater financial returns. 
C)  are closely associated with current strategy and structure. 
D)  will come to market in a short period of time. 
A)  are likely to change a firm's strategic intent and mission. 
B)  will lead to greater financial returns. 
C)  are closely associated with current strategy and structure. 
D)  will come to market in a short period of time.

Question 12

BerEdel Group (BEG) is an international diversified firm.Marchers operates in the same industry and is also diversified, but only domestically.Which of the following would you expect?

Accepted Answer

A)  BEG is less profitable than Marchers. 
B)  BEG is more innovative than Marchers. 
C)  BEG is less technologically advanced than Marchers. 
D)  BEG is more likely to have an individualistic culture than Marchers. 
A)  BEG is less profitable than Marchers. 
B)  BEG is more innovative than Marchers. 
C)  BEG is less technologically advanced than Marchers. 
D)  BEG is more likely to have an individualistic culture than Marchers.

Question 13

GreenBox, a company that recycles paper products to make cardboard cartons, has introduced a new product that resists damage by moisture.GreenBox can expect that:

Accepted Answer

A)  this innovation will resist competitors' attempts to imitate it. 
B)  its investors will react positively to the introduction of the new product because of the potential for higher returns. 
C)  its investors will react negatively because of the risk and cost entailed in introducing a new product. 
D)  this will be recognized in the industry as a radical innovation. 
A)  this innovation will resist competitors' attempts to imitate it. 
B)  its investors will react positively to the introduction of the new product because of the potential for higher returns. 
C)  its investors will react negatively because of the risk and cost entailed in introducing a new product. 
D)  this will be recognized in the industry as a radical innovation.

Question 14

The firm's culture promotes unity of purpose for cross-functional work teams through:

Accepted Answer

A)  a collectivist structure. 
B)  an entrepreneurial mind-set. 
C)  shared values. 
D)  resource allocation. 
A)  a collectivist structure. 
B)  an entrepreneurial mind-set. 
C)  shared values. 
D)  resource allocation.

Question 15

Isidore Security Services is a national provider of guard and security services for businesses.It has been in business for over 90 years, having been founded by one of Teddy Roosevelt's Rough Riders (Isidore O'Malley).Lately, it has been losing clients to more aggressive and innovative firms offering remote security monitoring systems instead of a guard-based approach.The board of directors of Isidore Security Services is concerned that this downward trend may threaten the existence of this venerable firm and the jobs of its employees.Which of the following statements is true?

Accepted Answer

A)  This is an example of an established firm neglecting the opportunity-seeking aspect of strategic entrepreneurship. 
B)  This example shows the dysfunctional aspects of unrestricted entrepreneurialism. 
C)  This is an example of the lack of human capital hampering internal innovation. 
D)  Isidore Security Services is suffering from the "novelty effect" wherein new firms are more attractive to clients/customers merely because they are new and not because they add value. 
A)  This is an example of an established firm neglecting the opportunity-seeking aspect of strategic entrepreneurship. 
B)  This example shows the dysfunctional aspects of unrestricted entrepreneurialism. 
C)  This is an example of the lack of human capital hampering internal innovation. 
D)  Isidore Security Services is suffering from the "novelty effect" wherein new firms are more attractive to clients/customers merely because they are new and not because they add value.

Question 16

Most large, complex firms innovate through cooperative strategies or strategic alliances, but not through internal activities.

Accepted Answer

A) True 
 B)False

Question 17

Explain how a firm can create value from internal innovation and deal with the competitive rivalry it engenders.

Accepted Answer

Firms try to create value through intern

Question 18

A key risk of acquisitions is that a firm may substitute an ability to buy innovations for an ability to produce innovations internally.

Accepted Answer

A) True 
 B)False

Question 19

Entrepreneurial ventures often produce more breakthrough innovations than do larger, more established organizations.

Accepted Answer

A) True 
 B)False

Question 20

QuadroVax is investing heavily in research and development on new methods of vaccine development that would speed up the creation of vaccines for newly emerging viruses and to get these vaccines to the market rapidly.QuadroVax's shareholders can expect:

Accepted Answer

A)  immediate wealth creation. 
B)  a long wait for an uncertain payoff. 
C)  a long wait for a high probability payoff. 
D)  a large payoff in the short term with rapidly decreasing wealth generation in the longer run. 
A)  immediate wealth creation. 
B)  a long wait for an uncertain payoff. 
C)  a long wait for a high probability payoff. 
D)  a large payoff in the short term with rapidly decreasing wealth generation in the longer run.

Why do entrepreneurial ventures tend to produce more radical innovations than larger, more established firms do?

The use or application of entrepreneurship within an established firm is called:

If the company's workers have scant existing knowledge, their "absorptive capacity" to learn new knowledge will be limited.

The entrepreneurial mind-set is found primarily among managerial and scientific employees.

Most innovations are incremental, not novel.

Entrepreneurs tend to have all the following characteristics EXCEPT:

Autonomous strategic behavior results in internal innovations that are highly consistent with the firm's current strategy.

Through the work of cross-functional teams, product development stages are grouped into __________ processes.

What is the importance of international entrepreneurship?

Research suggests that __________ is needed to encourage entrepreneurial behavior.Two surveys were conducted in 2017 to identify the world's 10 most entrepreneurial or innovative countries.Why weren't all of the same countries on both lists?

Induced strategic behavior is a process that fosters product innovations that:

BerEdel Group (BEG) is an international diversified firm.Marchers operates in the same industry and is also diversified, but only domestically.Which of the following would you expect?

GreenBox, a company that recycles paper products to make cardboard cartons, has introduced a new product that resists damage by moisture.GreenBox can expect that:

The firm's culture promotes unity of purpose for cross-functional work teams through:

Most large, complex firms innovate through cooperative strategies or strategic alliances, but not through internal activities.

Explain how a firm can create value from internal innovation and deal with the competitive rivalry it engenders.

A key risk of acquisitions is that a firm may substitute an ability to buy innovations for an ability to produce innovations internally.

Entrepreneurial ventures often produce more breakthrough innovations than do larger, more established organizations.

QuadroVax is investing heavily in research and development on new methods of vaccine development that would speed up the creation of vaccines for newly emerging viruses and to get these vaccines to the market rapidly.QuadroVax's shareholders can expect:

Strategic Management and Strategic Competitiveness

The External Environment: Opportunities, Threats, Industry Competition, and Competitor Analysis

The Internal Organization: Resources, Capabilities, Core Competencies, and Competitive Advantages

Business-Level Strategy

Competitive Rivalry and Competitive Dynamics

Corporate-Level Strategy

Merger and Acquisition Strategies

International Strategy

Cooperative Strategy

Corporate Governance

Organizational Structure and Controls

Strategic Leadership

Filters

Exam 13: Strategic Entrepreneurship

Why do entrepreneurial ventures tend to produce more radical innovations than larger, more established firms do?

The use or application of entrepreneurship within an established firm is called:

If the company's workers have scant existing knowledge, their "absorptive capacity" to learn new knowledge will be limited.

The entrepreneurial mind-set is found primarily among managerial and scientific employees.

Most innovations are incremental, not novel.

Entrepreneurs tend to have all the following characteristics EXCEPT:

Autonomous strategic behavior results in internal innovations that are highly consistent with the firm's current strategy.

Through the work of cross-functional teams, product development stages are grouped into __________ processes.

What is the importance of international entrepreneurship?

Research suggests that __________ is needed to encourage entrepreneurial behavior.Two surveys were conducted in 2017 to identify the world's 10 most entrepreneurial or innovative countries.Why weren't all of the same countries on both lists?

Induced strategic behavior is a process that fosters product innovations that:

BerEdel Group (BEG) is an international diversified firm.Marchers operates in the same industry and is also diversified, but only domestically.Which of the following would you expect?

GreenBox, a company that recycles paper products to make cardboard cartons, has introduced a new product that resists damage by moisture.GreenBox can expect that:

The firm's culture promotes unity of purpose for cross-functional work teams through:

Most large, complex firms innovate through cooperative strategies or strategic alliances, but not through internal activities.

Explain how a firm can create value from internal innovation and deal with the competitive rivalry it engenders.

A key risk of acquisitions is that a firm may substitute an ability to buy innovations for an ability to produce innovations internally.

Entrepreneurial ventures often produce more breakthrough innovations than do larger, more established organizations.

QuadroVax is investing heavily in research and development on new methods of vaccine development that would speed up the creation of vaccines for newly emerging viruses and to get these vaccines to the market rapidly.QuadroVax's shareholders can expect:

Strategic Management and Strategic Competitiveness

The External Environment: Opportunities, Threats, Industry Competition, and Competitor Analysis

The Internal Organization: Resources, Capabilities, Core Competencies, and Competitive Advantages

Business-Level Strategy

Competitive Rivalry and Competitive Dynamics

Corporate-Level Strategy

Merger and Acquisition Strategies

International Strategy

Cooperative Strategy

Corporate Governance

Organizational Structure and Controls

Strategic Leadership

Filters