Entrepreneurship CH2

An approach to negative emotions that involves working through, and processing, some aspect of the loss experience and, as a result of this process, breaking emotional bonds to the object lost is the approach of

Blank 1: loss Blank 2: orientation

involves distracting oneself from thinking about the failure and focusing one's energy on addressing other problems that have arisen as a result of the failure.

Blank 1: restoration Blank 2: orientation

True or false: In order to ensure that corporate entrepreneurial ventures are a success, the parent organization should not allow corporate entrepreneurs to have total authority over expenditures and access to sufficient funds.

False

True or false: Recognize that employees at entrepreneurial firms typically do not have the wholehearted support of the top management.

False

True or false: The process of loss orientation is not a part of the dual process model of coping with negative emotions.

False

What is the first step in the process of corporate entrepreneurship?

Gaining the commitment of top management

An accurate statement about successful corporate entrepreneurship is that _____

leaders must be able to inspire employees to work well in teams and utilize a multidisciplined approach

Firms that are said to have high entrepreneurial environments are most likely to _____

make easily accessible resources for experimentation

A high entrepreneurial environment is most likely to _____

permit employees to make mistakes in order to assist learning

Traditionally managed firms are more likely than entrepreneurially managed firms to _____

place a great deal of emphasis on acquiring information / desire to grow at a pace that is stable and manageable

While establishing a corporate entrepreneurial venture, entrepreneurs should _____

recognize ideas that top management is likely to be interested in

A study found that new ventures started within a corporation performed worse than those started independently by entrepreneurs. What were the reasons cited?

- A lack of freedom to make autonomous decisions - A constrained environment

What are the characteristics of high corporate entrepreneurial environments? (Check all that apply.)

- Firms must have a patient approach to the investment of money in the environment. - Creativity, risk taking, boldness, and even failure is appropriately rewarded.

Which of the following statements are true about corporate entrepreneurship? (Check all that apply.)

- Independent, venture-capital-based start-ups by entrepreneurs tend to outperform corporate startups significantly. - Implementing corporate entrepreneurship can lead to the development of an entirely new corporate environment and culture.

Identify the steps involved in the process of establishing corporate entrepreneurship in an organization. (Check all that apply.)

- Setting a long time horizon to evaluate the success of the overall process - Utilizing the latest technology to make the organization more flexible than before

Which of the following statements are true about the dual process of learning from the failure of an entrepreneurial initiative? (Check all that apply.)

- There are psychological and physiological outcomes caused by the feelings of loss. - There is a process of recovery from failure to learn, which comforts the entrepreneur that his or her current feelings will eventually reduce.

Which of the following are true of the characteristics of successful corporate entrepreneurs? (Check all that apply.)

- They must possess a visionary outlook. - They should be able to adapt to different situations and develop management options.

Peter, a young entrepreneur, is depressed because his startup venture is in loss. However, he realizes that his feelings are normal and they are experienced by anyone in his position. Which of the following concepts is most likely exemplified in this scenario?

A dual process model of coping with negative emotions

Managers in an organization strongly supporting corporate entrepreneurship is referred to as

Blank 1: Top Blank 2: Management Blank 3: Commitment

Traditionally managed firms are most likely to _____

be designed in a manner that favors the internal efficiencies of allocating controlled resources

Which of the following is true of the establishment of a corporate entrepreneurship?

Leaders must take care to develop a set of expectations and target results for the venture.

Identify a characteristic of a high entrepreneurial environment.

The latest technology is utilized to help develop a firm's ideas and products.

Which of the following is true of traditionally managed firms?

They are more likely to pursue a given opportunity with a much larger initial investment than entrepreneurially managed firms.

Identify an accurate statement about entrepreneurial firms.

They develop and foster the spirit of teamwork between multidisciplinary teams.

Which of the following is true of entrepreneurially managed firms?

They gain and communicate more information from the external environment than do traditionally managed firms.

Identify a characteristic of traditionally managed firms.

They have frameworks that are typically focused on efficiency rather than on responding to changes in the external environment.

Identify a true statement about the ways in which traditionally managed firms commit resources to a business opportunity.

They initially commit a great deal of required resources on a large scale.

A true statement about the process of establishing corporate entrepreneurship is that _____

a robust support structure must be developed for the venture

A true statement about corporate entrepreneurship is that _____

companies should not force the spirit of corporate entrepreneurship on people

Entrepreneurial firms are most likely to _____

develop and match sponsors and product champions

A difference between entrepreneurially managed firms and traditionally managed firms is that _____

entrepreneurially managed firms are able to change direction rapidly as new information about an opportunity or an environment is revealed

While pursuing a potential opportunity, entrepreneurially managed firms are most likely to ___

focus on how they can minimize the resources they require to pursue the opportunity

Jessica is a mid-level manager at a multinational corporation based in the state of New York. The company permits Jessica to set up an entrepreneurial venture of her own and assures her that she will be given all the tools she requires for success. To ensure that the venture is a success, Jessica should _____

foster the spirit of teamwork among her subordinates

A successful corporate entrepreneur is most likely to _____

have a comprehensive understanding of the work environment

An attribute of restoration orientation is that _____

it allows an individual to decrease the short-term level of negative feelings

When an organization seeks to establish corporate entrepreneurship, it should ensure that _____

it has a group of interested managers who will train employees and share their experiences

A feature of a firm that has an entrepreneurial orientation toward growth is that _____

the firm is likely to want to grow at a rapid pace

An accurate statement about traditionally managed firms is that _____

they are not able to easily reverse the investment of resources in a potential opportunity