Question 1

Most innovations are incremental, not novel.

Accepted Answer

A) True 
 B)False

Question 2

Which of the following is true? For firms to be entrepreneurial, they require a culture with:

Accepted Answer

A)  an emphasis on individualism in Western nations and an emphasis on collectivism in Eastern nations. 
B)  an exceptionally high level of collectivism. 
C)  a balance of individualism and collectivism. 
D)  an exceptionally high level of individualism. 
A)  an emphasis on individualism in Western nations and an emphasis on collectivism in Eastern nations. 
B)  an exceptionally high level of collectivism. 
C)  a balance of individualism and collectivism. 
D)  an exceptionally high level of individualism.

Question 3

Evidence demonstrates that large firms with well-funded R&D operations are more effective at innovation than are smaller firms.

Accepted Answer

A) True 
 B)False

Question 4

PracticalSolutions is a small firm providing employee assistance programs for companies with troubled employees. PracticalSolutions frequently partners with other consulting firms to provide creative solutions for companies with personnel problems. This history of partnering exemplifies:

Accepted Answer

A)  intellectual capital. 
B)  institutional capital. 
C)  alignment of complementary assets. 
D)  technological capital. 
A)  intellectual capital. 
B)  institutional capital. 
C)  alignment of complementary assets. 
D)  technological capital.

Question 5

Acquisitions are a low-risk approach to producing and managing innovation.

Accepted Answer

A) True 
 B)False

Question 6

Given the rapid rate of technological change, patents are not a useful gauge of a firm's entrepreneurial prowess.

Accepted Answer

A) True 
 B)False

Question 7

Innovation is the means by which the entrepreneur creates wealth.

Accepted Answer

A) True 
 B)False

Question 8

Toyota's Prius, the first mass-produced hybrid-electric car is an example of a novel innovation that has changed the industry by providing new functionalities for users.

Accepted Answer

A) True 
 B)False

Question 9

According to Peter Drucker,the primary goal of innovation is to:

Accepted Answer

A)  promote social well-being. 
B)  increase the number of jobs. 
C)  create wealth. 
D)  support national economies. 
A)  promote social well-being. 
B)  increase the number of jobs. 
C)  create wealth. 
D)  support national economies.

Question 10

The essence of entrepreneurship is to capture most of the existing markets from less aggressive and innovative competitors.

Accepted Answer

A) True 
 B)False

Question 11

Entrepreneurial ventures often produce more novel innovations than do their larger, more established counterparts.

Accepted Answer

A) True 
 B)False

Question 12

Innovations can only be produced by actions and activities within the firm.

Accepted Answer

A) True 
 B)False

Question 13

WayWard Products has a deliberate strategy to encourage internal innovations. It has established processes to support autonomous strategic behavior as well as induced strategic behavior. WayWard Products is involved in:

Accepted Answer

A)  entrepreneurial incubation. 
B)  creative destruction. 
C)  internal corporate venturing. 
D)  cooperative innovation strategies. 
A)  entrepreneurial incubation. 
B)  creative destruction. 
C)  internal corporate venturing. 
D)  cooperative innovation strategies.

Question 14

Regarding partnering in cooperative alliances, entrepreneurial new companies may seek ____ while more established companies may need _____.

Accepted Answer

A)  distribution channels; tacit knowledge 
B)  deep technological expertise; distribution channels 
C)  social capital; technical capital 
D)  investment capital; new technological knowledge 
A)  distribution channels; tacit knowledge 
B)  deep technological expertise; distribution channels 
C)  social capital; technical capital 
D)  investment capital; new technological knowledge

Question 15

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

Question 16

Firms that continually change their strategic context and strategies because of the continuous changes in the current competitive landscape are in danger of losing sight of their main competitive strengths.

Accepted Answer

A) True 
 B)False

Question 17

____ is one of the reasons for the differences in rates of entrepreneurship among different countries.

Accepted Answer

A)  Climate 
B)  Competitiveness 
C)  Culture 
D)  Constitution 
A)  Climate 
B)  Competitiveness 
C)  Culture 
D)  Constitution

Question 18

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

Accepted Answer

A) True 
 B)False

Question 19

Invention is defined as the adoption of a similar innovation by different firms.

Accepted Answer

A) True 
 B)False

Question 20

In the implementation of internal innovations, formal and informal processes are best supported through ____ organizational structures.

Accepted Answer

A)  vertical 
B)  horizontal 
C)  functionally oriented 
D)  multidivisional 
A)  vertical 
B)  horizontal 
C)  functionally oriented 
D)  multidivisional

Most innovations are incremental, not novel.

Which of the following is true? For firms to be entrepreneurial, they require a culture with:

Evidence demonstrates that large firms with well-funded R&D operations are more effective at innovation than are smaller firms.

PracticalSolutions is a small firm providing employee assistance programs for companies with troubled employees. PracticalSolutions frequently partners with other consulting firms to provide creative solutions for companies with personnel problems. This history of partnering exemplifies:

Acquisitions are a low-risk approach to producing and managing innovation.

Given the rapid rate of technological change, patents are not a useful gauge of a firm's entrepreneurial prowess.

Innovation is the means by which the entrepreneur creates wealth.

Toyota's Prius, the first mass-produced hybrid-electric car is an example of a novel innovation that has changed the industry by providing new functionalities for users.

According to Peter Drucker,the primary goal of innovation is to:

The essence of entrepreneurship is to capture most of the existing markets from less aggressive and innovative competitors.

Entrepreneurial ventures often produce more novel innovations than do their larger, more established counterparts.

Innovations can only be produced by actions and activities within the firm.

WayWard Products has a deliberate strategy to encourage internal innovations. It has established processes to support autonomous strategic behavior as well as induced strategic behavior. WayWard Products is involved in:

Regarding partnering in cooperative alliances, entrepreneurial new companies may seek while more established companies may need _.

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

Firms that continually change their strategic context and strategies because of the continuous changes in the current competitive landscape are in danger of losing sight of their main competitive strengths.

____ is one of the reasons for the differences in rates of entrepreneurship among different countries.

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

Invention is defined as the adoption of a similar innovation by different firms.

In the implementation of internal innovations, formal and informal processes are best supported through ____ organizational structures.

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

Most innovations are incremental, not novel.

Which of the following is true? For firms to be entrepreneurial, they require a culture with:

Evidence demonstrates that large firms with well-funded R&D operations are more effective at innovation than are smaller firms.

PracticalSolutions is a small firm providing employee assistance programs for companies with troubled employees. PracticalSolutions frequently partners with other consulting firms to provide creative solutions for companies with personnel problems. This history of partnering exemplifies:

Acquisitions are a low-risk approach to producing and managing innovation.

Given the rapid rate of technological change, patents are not a useful gauge of a firm's entrepreneurial prowess.

Innovation is the means by which the entrepreneur creates wealth.

Toyota's Prius, the first mass-produced hybrid-electric car is an example of a novel innovation that has changed the industry by providing new functionalities for users.

According to Peter Drucker,the primary goal of innovation is to:

The essence of entrepreneurship is to capture most of the existing markets from less aggressive and innovative competitors.

Entrepreneurial ventures often produce more novel innovations than do their larger, more established counterparts.

Innovations can only be produced by actions and activities within the firm.

WayWard Products has a deliberate strategy to encourage internal innovations. It has established processes to support autonomous strategic behavior as well as induced strategic behavior. WayWard Products is involved in:

Regarding partnering in cooperative alliances, entrepreneurial new companies may seek ____ while more established companies may need _____.

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

Firms that continually change their strategic context and strategies because of the continuous changes in the current competitive landscape are in danger of losing sight of their main competitive strengths.

____ is one of the reasons for the differences in rates of entrepreneurship among different countries.

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

Invention is defined as the adoption of a similar innovation by different firms.

In the implementation of internal innovations, formal and informal processes are best supported through ____ organizational structures.

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

Regarding partnering in cooperative alliances, entrepreneurial new companies may seek while more established companies may need _.