ENT 241 Mid-term
______ included initiative and risk-taking, as well as competitive aggressiveness and boldness.
proactiveness
multiple choice- Entrepreneurial opportunities are defined as...
situations in which new goods, services, raw materials, and organizing methods can be sold at greater than their production cost.
The concept that " the whole is greater than the sim of it's parts" is known as
synergy
Which is not a strategy used to elicit information about the other party in a negotiation?
take up a new negotiation at the end of the first
Having an entrepreneurial orientation toward the control of resources means...
that one focuses on accessing others' resources
Entrepreneurial culture and growth orientation consist of all of the following expect....
the desire to grow at a slow and controlled pace.
Which statement about capital requirements in franchising is not true?
the franchisee has to spend resources to establish the credibility of the business
A "me-too' strategy consists of copying products that already exist and attempting to build an advantage through minor variations.
true
A joint venture is a separate entity that involves a partnership between two or more active participants.
true
A new franchise can be expected to be required to undergo considerable training on operation the business.
true
An acquisition is the purchase of a company, or part of a company, in which the acquired company ceases to exist independently.
true
Brainwriting is a form of brainstorming
true
By understanding more about the other party, the entrepreneur has a great opportunity to achieve integration in negotiation.
true
Creativity tends to decrease with age, education, lack of use, and bureaucracy.
true
Cultural differences between international joint venture partners can create management difficulties.
true
Expierence is idiosyncratic-unique to the life of the individual.
true
Growing a venture through franchising allows the venture to expand quickly using little capital.
true
In reverse brainstorming the focus is on all the things that are right about an idea.
true
Most entrepreneurs indicate that their most significant venture was not their first one.
true
Negotiating how the benefits of the relationship will be allocated between the parties is known as the distribution task.
true
New products may be classified from the viewpoint of either the consumer or the firm.
true
One advantage of franchising is that the entrepreneur usually enters into a business that has an accepted name and product.
true
One advantage to an acquisition is that there is an established customer base.
true
T or F A new entry can be either offering a new product to a new market or creating a new organization.
true
T or F An entrepreneurial strategy has three key stages- the generation of a new entry opportunity, the exploitation of a new entry opportunity, and a feedback look back to the first stage.
true
T or F Bricolage is entrepreneurs making do by applying combinations of the resources at hand to new problems and opportunities.
true
T or F Comprehension questions are designed to stimulate entrepreneurs to think about their own understanding of the nature of the environment.
true
T or F Corporate entrepreneurship is most strongly reflected in entrepreneurial activities as well as in top management orientations in organizations.
true
T or F Developing a sprit of entrepreneurship within the existing organization, called corporate entrepreneurship, can lower resistance to flexibility, growth, and diversification.
true
T or F Entrepreneurial opportunities are those situations in which new goods, services, raw materials, and organizing methods can be sold for a financial or non-financial gain of the entrepreneur an/ or stakeholders.
true
T or F Entrepreneurially managed firm structure is usually flat with multiple informal networks.
true
T or F Entrepreneurs focus on minimizing the resources needed whereas traditional firms focus on accumulating resources.
true
T or F Knowledge is the basis of the entrepreneurial resource.
true
T or F One study found that new ventures started within a corporation preformed better than those started independently by entrepreneurs.
true
T or F Perceived desirability refers to the degree to which an individual has a favorable or unfavorable evaluation of the potential entrepreneurial outcomes.
true
T or F When developing an entrepreneurial culture, an organization needs to develop ways to become closer to its customers.
true
T or F Dissatisfaction with various aspects of one's job often motivates the launching of a new venture.
true
T or F In creating a culture for corporate entrepreneurship leadership is important.
true
T or F Traditionally managed firms typically punish failure.
true
Terminating a franchise result in more lawsuits than any other issue in franchising.
true
The bargaining zone is the rance of outcomes between the entrepreneur's reservation price and the reservation price of the other party.
true
the entrepreneur's ability to recognize a business opportunity is a result of his or her knowledge and experience.
true
The period of the time when the environment is favorable for entrepreneurs to exploit a particular new entry is the...
window of opportunity
Focus groups use which of the following methods?
a moderator leads the group in an open, in-depth discussion
Creativity declines with....
age, education, lack of use, and bureaucracy
The most common type of joint venture is :
between two or more private sector companies
Probably the most well-known and widely use technique for creative problem solving is:
brainstorming
When entrepreneurs make do by applying combinations of the resources at hand to new problems and opportunities, this is known as...
bricolage
Questions designed to increase an entrepreneur's understanding of the nature of the environment are known as...
comprehension questions
______ is not a desirable when brainstorming is in process.
criticism
First movers face...
demand uncertainty
Which of the following is not a leadership characteristic of a corporate entrepreneur according to the text?
encourages colleagues to follow a hierarchy.
With regard to the difference between the entrepreneurial and administrative to focuses which of the following is correct?
entrepreneurs rent or sporadically use resources; managers like to own resources.
Brainstorming is an unstructured process for the generation of possible ideas about a problem within a limited time frame through the spontaneous contributions of participants.
false
Customers always embrace change in products and services.
false
International joint ventures are decreasing joint venture partners can create management difficulties.
false
T or F Entrepreneurial action can be defined as times when entrepreneurs make do with resources at hand, applying those resources to new problems or opportunities.
false
T or F Entrepreneurially run firms are driven by controlled resources whereas traditionally managed firms are driven by perception of opportunity.
false
T or F To truly understand the impact of a resource, you need to consider the resource itself rather than the firm's bundle or resource's.
false
The big-dream approach is a branch of brainstorming where the group is asked to dream big with no constraints.
false
The collective notebook method involves members recording their ideas at least once a day for about a week.
false
The entrepreneur should always design and build his own webpage to maintain strategic control.
false
environmental changes are highly unlikely in emerging industries.
false
when an entrepreneur bootstraps the purchase of a company, non of the price of the acquisition is cash.
false
Individuals have stronger intentions to act when taking action is perceived to be ________ and desirable
feasible
A ________ occurs when an entrepreneur or an employee group uses borrowed funds to purchase an existing venture for cash.
franchise agreement
patents filed with the US patent office
frequently suggest other new products
A _____ strategy that copies products that already exist and attempts to build an advantage through minor variations
me-too
Acquisitions are so similar to _____ that at limes the two terms are used interchangeably.
mergers
Entrepreneurial activities that create something new of value either by redefining the company's current products or services, developing new markets, or forming more formally autonomous or semiautonomous units or firms best defines.
new business venturing
_______ knowledge refers to the entrepreneur's possession of information, technology, know-how, and skills that provide insight into the industry and customers.
market