Question 1

____ is(are) critical in order for a firm to gain access to resources from partners in a cooperative alliance.

Accepted Answer

A)  Complementary strategic goals 
B)  Shared values 
C)  An entrepreneurial mind-set 
D)  Compatible organizational cultures 
A)  Complementary strategic goals 
B)  Shared values 
C)  An entrepreneurial mind-set 
D)  Compatible organizational cultures

Question 2

Discuss the benefits and risks of acquiring another firm to gain access to innovations.

Accepted Answer

Through acquisition an organization can

Question 3

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.

Question 4

Which of the following is one of the barriers to effectiveness when using cross-functional teams to integrate organizational functions?

Accepted Answer

A)  dissension within the top management team 
B)  informal organizational processes within the firm 
C)  the firm's strategic orientation 
D)  organizational politics 
A)  dissension within the top management team 
B)  informal organizational processes within the firm 
C)  the firm's strategic orientation 
D)  organizational politics

Question 5

Why have large pharmaceutical companies been forming alliances with biotechnology companies?

Accepted Answer

A)  To evade legislative restrictions on drug research in the United States 
B)  To develop new products and bring them to market 
C)  Because both firms had declining profitability and needed cash infusions from other firms 
D)  In order to gain absorptive capacity 
A)  To evade legislative restrictions on drug research in the United States 
B)  To develop new products and bring them to market 
C)  Because both firms had declining profitability and needed cash infusions from other firms 
D)  In order to gain absorptive capacity

Question 6

An organization engaging in strategic entrepreneurship focuses on identifying opportunities that it can exploit through innovations.

Accepted Answer

A) True 
 B)False

Question 7

Successfully creating innovations through internal means requires:

Accepted Answer

A)  a highly individualistic culture. 
B)  significant spending on R&D. 
C)  acquisitions of innovative firms. 
D)  venture capital. 
A)  a highly individualistic culture. 
B)  significant spending on R&D. 
C)  acquisitions of innovative firms. 
D)  venture capital.

Question 8

Rosalie has become totally preoccupied by her idea for creating a business leasing horses to riders on the same principle as time-shares on condominiums. Rosalie is researching the legal, financial, and insurance aspects of her idea and is preparing a prospectus to take to banks to ask for a business loan. Rosalie's significant other is complaining that she "sleeps, eats, and drinks" this concept. Rosalie has the entrepreneurial characteristic of passion.

Accepted Answer

A) True 
 B)False

Question 9

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 10

Entrepreneurship is the economic engine driving national economic growth in many nations.

Accepted Answer

A) True 
 B)False

Question 11

Products developed through ______ are often offered at lower prices without as many features as products developed through ______.

Accepted Answer

A)  innovation; imitation 
B)  imitation; invention 
C)  imitation; innovation 
D)  innovation; invention 
A)  innovation; imitation 
B)  imitation; invention 
C)  imitation; innovation 
D)  innovation; invention

Question 12

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

Accepted Answer

A) True 
 B)False

Question 13

The risks of international entrepreneurship include all the following EXCEPT:

Accepted Answer

A)  unstable foreign currencies. 
B)  problems with market efficiencies. 
C)  limitations on market size. 
D)  strong "buy-domestic" programs. 
A)  unstable foreign currencies. 
B)  problems with market efficiencies. 
C)  limitations on market size. 
D)  strong "buy-domestic" programs.

Question 14

Charles is a customer service representative for a home improvement store. He has creative ideas about how to increase customer satisfaction. Charles's talents will be most likely to be used in a firm that:

Accepted Answer

A)  uses the induced strategic behavior form of internal corporate venturing. 
B)  uses the autonomous strategic behavior form of internal corporate venturing. 
C)  makes significant investment in research and development. 
D)  focuses on an acquisition strategy for gaining innovative ideas. 
A)  uses the induced strategic behavior form of internal corporate venturing. 
B)  uses the autonomous strategic behavior form of internal corporate venturing. 
C)  makes significant investment in research and development. 
D)  focuses on an acquisition strategy for gaining innovative ideas.

Question 15

New entrepreneurial firms are better than larger established firms at:

Accepted Answer

A)  implementing innovations. 
B)  gaining competitive advantage. 
C)  making alliances. 
D)  identifying entrepreneurial opportunities. 
A)  implementing innovations. 
B)  gaining competitive advantage. 
C)  making alliances. 
D)  identifying entrepreneurial opportunities.

Question 16

The number of patents held by an organization is a rough guide to the:

Accepted Answer

A)  effective use of organizational politics. 
B)  future success of an initial public offering. 
C)  amount of venture capital a firm will be able to attract. 
D)  level of innovation in a firm. 
A)  effective use of organizational politics. 
B)  future success of an initial public offering. 
C)  amount of venture capital a firm will be able to attract. 
D)  level of innovation in a firm.

Question 17

Describe the three strategic approaches used to produce and manage innovation: internal corporate venturing, cooperative strategies, and acquisitions.

Accepted Answer

Internal corporate venturing is the set

Question 18

An innovation developed through autonomous strategic behavior will probably take the firm into new markets not addressed by its current strategy.

Accepted Answer

A) True 
 B)False

Question 19

A society's cultural characteristics influence a nation's rate of entrepreneurship and its related practices.

Accepted Answer

A) True 
 B)False

Question 20

Because it replaces existing products and methods of production, entrepreneurship is a process of:

Accepted Answer

A)  harnessing the human potential. 
B)  creative destruction. 
C)  creation of opportunity. 
D)  exploitation of innovation. 
A)  harnessing the human potential. 
B)  creative destruction. 
C)  creation of opportunity. 
D)  exploitation of innovation.

____ is(are) critical in order for a firm to gain access to resources from partners in a cooperative alliance.

Discuss the benefits and risks of acquiring another firm to gain access to innovations.

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:

Which of the following is one of the barriers to effectiveness when using cross-functional teams to integrate organizational functions?

Why have large pharmaceutical companies been forming alliances with biotechnology companies?

An organization engaging in strategic entrepreneurship focuses on identifying opportunities that it can exploit through innovations.

Successfully creating innovations through internal means requires:

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

Entrepreneurship is the economic engine driving national economic growth in many nations.

Products developed through are often offered at lower prices without as many features as products developed through .

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

The risks of international entrepreneurship include all the following EXCEPT:

Charles is a customer service representative for a home improvement store. He has creative ideas about how to increase customer satisfaction. Charles's talents will be most likely to be used in a firm that:

New entrepreneurial firms are better than larger established firms at:

The number of patents held by an organization is a rough guide to the:

Describe the three strategic approaches used to produce and manage innovation: internal corporate venturing, cooperative strategies, and acquisitions.

An innovation developed through autonomous strategic behavior will probably take the firm into new markets not addressed by its current strategy.

A society's cultural characteristics influence a nation's rate of entrepreneurship and its related practices.

Because it replaces existing products and methods of production, entrepreneurship is a process of:

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

____ is(are) critical in order for a firm to gain access to resources from partners in a cooperative alliance.

Discuss the benefits and risks of acquiring another firm to gain access to innovations.

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:

Which of the following is one of the barriers to effectiveness when using cross-functional teams to integrate organizational functions?

Why have large pharmaceutical companies been forming alliances with biotechnology companies?

An organization engaging in strategic entrepreneurship focuses on identifying opportunities that it can exploit through innovations.

Successfully creating innovations through internal means requires:

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

Entrepreneurship is the economic engine driving national economic growth in many nations.

Products developed through ______ are often offered at lower prices without as many features as products developed through ______.

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

The risks of international entrepreneurship include all the following EXCEPT:

Charles is a customer service representative for a home improvement store. He has creative ideas about how to increase customer satisfaction. Charles's talents will be most likely to be used in a firm that:

New entrepreneurial firms are better than larger established firms at:

The number of patents held by an organization is a rough guide to the:

Describe the three strategic approaches used to produce and manage innovation: internal corporate venturing, cooperative strategies, and acquisitions.

An innovation developed through autonomous strategic behavior will probably take the firm into new markets not addressed by its current strategy.

A society's cultural characteristics influence a nation's rate of entrepreneurship and its related practices.

Because it replaces existing products and methods of production, entrepreneurship is a process of:

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

Products developed through are often offered at lower prices without as many features as products developed through .