ELE QUIZ 1 terms

13. In regards to thinking structurally, superficial similarities

Exist when the basic (relatively easy to observe) elements of the technology resemble the basic elements of the market

15. ____________ are designed to stimulate thought about entrepreneurs' understanding and feelings as they progress through the entrepreneurial process.

Reflection tasks

3. DEMAND Uncertainty refers to

difficulty in estimating the potential size, growth, and key dimensions along with a market will grow.

8. List three characteristics of an entrepreneurial environment:

????

12. An example of a connection task

Asking, "how is this problem similar to problems I've already solved?"

11. Lead characteristics of corporate entrepreneurship

Flexibility and vision, Persistence, Encourages teamwork

5. Franchising and 'me-too' strategies are two types of

Imitation strategies.

9. As the venture becomes established and starts growing

Managerial experience becomes increasingly important

24. An organization that wants to become more entrepreneurial must learn to be ______ productive with ______ resources

More: Fewer

16. Characteristics of an entrepreneurial environment:

New ideas are encouraged, The organization operates on frontiers of technology, It uses a multidiscipline teamwork approach

4. A broad-scope strategy:

Offers a range of products across different market segments

18. List five (of the seven) leadership characteristics of a corporate entrepreneur:

Persistent, organized, driven, intellectual, ........need more

10. The first step in establishing corporate entrepreneurship in an organization is:

Securing commitment from top management.

20. Discuss the difference between superficial similarities and structural similarities. Which was noted as the more challenging for entrepreneurs?

Superficial similarities: when basic elements of the technology resemble basic market elements. Structural similarities: When the underlying mechanisms of the technology resemble the underlying mechanisms of the market. Structural similarities are harder to overcome.

7. Having an entrepreneurial orientation towards the control of resources means:

That one focuses on accessing others resources

14. Describe the concept of BRICOLAGE:

Using a variety of different resources in an effort to come together and form an entrepreneurial endeavor

19. When referring to generation of a new entry opportunity, market knowledge refers to the ___________ that provide insight into a market and its customers (circle all that apply):

a. Information b. Technology c. Know-How d. Skills

2. When deciding on when to enter a market, first mover Disadvantages include

environmental instability, customer uncertainty, and short lead time.

25. Generally, independent, venture-capital-based start-ups by entrepreneurs tend to __________ corporate start-ups significantly

outperform

21.Entrepreneurially managed firm structure is

usually flat with multiple informal networks.