ENTR 321 Chapter 3

The second step in planning a strategy of entrepreneurship for the enterprise is: a.) developing and encouraging innovation b.) applying the exact tools of the entrepreneur c.) sharing the vision of innovation d.) identifying specific objectives

developing and encouraging innovation

Firms do not need to alter management techniques to encourage corporate entrepreneurship since it tends to occur naturally. True or False

False

Many ways of developing corporate entrepreneurship exist. Decide if the following action would help develop corporate entrepreneurship (True) or not (False). Develop a well-defined hierarchical structure, and stick to it. True or False

False

Many ways of developing corporate entrepreneurship exist. Decide if the following action would help develop corporate entrepreneurship (True) or not (False). Discourage joint projects and ventures among different departments. True or False

False

Many ways of developing corporate entrepreneurship exist. Decide if the following action would help develop corporate entrepreneurship (True) or not (False). Encourage structured activity. True or False

False

Skunk works are project groups that work within the traditional lines of authority. True or False

False

Clever bootlegging of ideas refers to secretly working on new ideas on company time as well as on personal time. True or False

True

One reason that corporate entrepreneurship has become popular is because it allows corporations to tap the innovative talents of the personnel. True or False

True

In restructuring corporate thinking, top management should: a.) identify potential entrepreneurs after an innovation program is in operation b.) promote entrepreneurship through experimentation c.) make the entrepreneur follow strict corporate guidelines d.) create diversity and order in strategic activities

promote entrepreneurship through experimentation

Which of the following terms refers the inaugural breakthroughs launched from experimentation and determined vision? a.) collective entrepreneurship b.) incremental innovation c.) radical innovation d.) strategic management

radical innovation

Which of the following are specific factors identified by researchers, that organizations can concentrate on in structuring an entrepreneurial climate. a.) skunk works, multiple approaches, and vision b.) rewards, resources, innovation, and vision c.) radical innovation, incremental innovation, and vision d.) top management support, time, resources, rewards, adn organizational boundaries

top management support, time, resources, rewards, and organizational boundaries

Systematic evolution of a product or service into newer or larger markets is referred to as radical innovation. True or False

False

Individuals may avoid corporate entrepreneurial behavior due to the impact of traditional management techniques. True or False

True

Secretly working on new ideas on company time as well as on personal time is referred to as: a.) skunk works b.) interactive learning c.) bootlegging d.) champion

bootlegging

The first step in planning a strategy of entrepreneurship for enterprise is: a.) identifying specific objectives b.) developing radical innovation c.) sharing the vision of innovation d.) applying the exact tools of the entrepreneur

sharing the vision of innovation

Which of the following would not be considered as encouraging to an entrepreneurial environment? a.) identifying potential entrepreneurs b.) promotion of entrepreneurship through experimentation c.) top management sponsorship of entrepreneurship d.) uniform compensation

uniform compensation

Many ways of developing corporate entrepreneurship exist. Decide if the following action would help develop corporate entrepreneurship (True) or not (False). Set implicit goals. True or False

False

Researchers have identified specific factors that organizations can concentrate on in helping individuals develop more entrepreneurial behavior. True or False

True

Many ways of developing corporate entrepreneurship exist. Decide if the following action would help develop corporate entrepreneurship (True) or not (False). Encourage a bias for action. True or False

True

Many ways of developing corporate entrepreneurship exist. Decide if the following action would help develop corporate entrepreneurship (True) or not (False). Encourage brainstorming. True or False

True

Many ways of developing corporate entrepreneurship exist. Decide if the following action would help develop corporate entrepreneurship (True) or not (False). Provide feedback on performance. True or False

True

All of the following are reasons for the growth of corporate entrepreneurship except: a.) a rapidly growing number of new and sophisticate competitors b.) a sense of distrust in the traditional methods or corporate management c.) an exodus of some of the best people out of corporations d.) a desire to dramatically increase profitability

a desire to dramatically increase profitability

Many ways of developing corporate entrepreneurship exist. Decide if the following action would help develop corporate entrepreneurship (True) or not (False). Fire those who make mistakes as a way of creating a good example for others. True or False

False

Many ways of developing corporate entrepreneurship exist. Decide if the following action would help develop corporate entrepreneurship (True) or not (False). Make extensive use of formal meetings. True or False

False

In the model of sustained corporate entrepreneurship discussed in the text, a transformational trigger can be internal or external to the company. True or False

True

The first step in planning a strategy of corporate entrepreneurship is sharing the vision of innovation that executive wish to achieve. True or False

True

The major thrust of corporate entrepreneurship is to: a.) raise profitability b.) encourage greater risk taking c.) encourage innovation d.) increase morale

encourage innovation

Which of the following terms refers to the systematic evolution of a product or service into newer or larger markets? a.) incremental innovation b.) strategic management c.) collective entrepreneurship d.) radical innovation

incremental innovation

Transformational triggers in a corporate entrepreneurial environment initiates the need for: a.) laying off workers b.) changing company location c.) strategically adapting to change d.) achieving higher productivity standards

strategically adapting to change

Which of the following helps account for the rise of interest in corporate entrepreneurship? a.) a general increase in the number of competitors b.) a decrease in the number of sophisticated competitors c.) an increase government regulation of small entrepreneurs d.) an increase in corporations losing some of their best people

an increase in corporations losing some of their best people

The resources of the organization are irrelevant to the ability of the corporate entrepreneur to implement an idea. True or False

False

Many ways of developing corporate entrepreneurship exist. Decide if the following action would help develop corporate entrepreneurship (True) or not (False). Allow bootlegging of ideas. True or False

True

Collective entrepreneurship, as a concept, refers to: a.) entrepreneurial thinking that is diffused throughout the company b.) the joint recognition of the CEO and CFO as champions of innovation c.) socialist enterprising d.) the collective spirit of innovation that resides in the firm's founder

entrepreneurial thinking is diffused throughout the company

Groups that function outside traditional lines of authority permitting rapid turnaround of new ideas as well as instilling a high level of group loyalty are called: a.) skunk words b.) strategic innovators c.) champions d.) multiple approaches

skunk works

Which of the following is an obstacle to corporate entrepreneurship? a.) orientation to the market b.) a system of feedback and positive reinforcement c.) rewards based upon results d.) traditional management techniques

traditional management techniques