ENT241 Midterm Ball State University
Which of the following is true about corporate entrepreneurship
A company must be willing to invest money without a guarantee of a return in the short term.
Focus groups use which of the following methods?
A moderator leads the group in an open, in-depth discussion.
Creative synthesis is an important aspect of the _______ method of creative problem solving
parameter analysis
In this method, instead of generating new ideas themselves, consumers are provided with a list of problems in a general product category.
problem inventory analysis
In which stage of the product planning and development process would it be appropriate to give product samples to a panel of potential customers?
product development stage
The ________ is defined as the stages each product goes through from introduction to decline.
product life cycle
Which of the following is a practical implication of using the dual process of learning from failure?
recovery from loss offers an opportunity to increase one's knowledge of entrepreneurship.
are designed to stimulate thought about entrepreneurs' understanding and feelings as they progress through the entrepreneurial process.
reflection tasks
The first step in establishing corporate entrepreneurship in an organization is
securing commitment from top management
Which among the following aspects most affects an entrepreneur's perception of feasibility?
self-efficacy
__________ includes a redefinition of the business concept, reorganization, and the introduction of system-wide changes to increase innovation.
self-renewal
Which of the following was not discussed in the text as a breakthrough innovation?
spanx
the casual process of thinking
starts with a desired outcome and focuses on the possible means to generate that outcome
In the idea stage of the product planning and development process
systematic market evaluation is used
Entrepreneurial culture and growth orientation consists of all of the following except
the desire to grow at a slow and controlled pace
The largest source of new product ideas is
the entrepreneur's research and development.
Density, in regards to a social network, refers to
the extensiveness of ties between two individuals.
In addition to generating new ideas, __________ is an excellent method for initially screening ideas and concepts.
the focus group
All these are characteristics of an entrepreneurial environment except
there are short term horizons
Which group in a professional network helps keep a new venture competitive?
trade associations
With regard to the differences between the entrepreneurial and administrative focuses which of the following is correct?
Entrepreneurs rent or sporadically use resources; managers like to own resources
A reflection task would involve thinking about what strategies should be used to solve a problem.
False
An entrepreneur is rarely able to start a new business without some form of formal education
False
Entrepreneurial action can be defined as times when entrepreneurs make do with resources at hand, applying those resources to new problems or opportunities.
False
Role models are individuals who give psychological support to the entrepreneur especially during the start-up phase.
False
Strategic orientation refers to the transformation of an organization through the rejuvenation of the key ideas on which it is built
False
Strategic tasks stimulate the entrepreneur to compare the current situation with previous similar situations
False
The casual process of thinking starts with what one has and selects among possible outcomes
False
The entrepreneurial challenge often lies in making creative mental leaps based on superficial similarities
False
Which of the following statements is NOT true of the restoration orientation approach to negative emotions?
The restoration orientation approach requires oscillating between two alternate approaches to loss
Asking: How is this problem similar to problems I've already solved?" is an example of a connection task
True
Bricolage is entrepreneurs making do by applying combinations of the resources at hand to new problems and opportunities
True
Comprehension questions are designed to stimulate entrepreneurs to think about their own understanding of the nature of the environment
True
Corporate entrepreneurship is most strongly reflected in entrepreneurial activities as well as in top management orientations in organizations
True
Developing a spirit of entrepreneurship within the existing organization, called corporate entrepreneurship, can lower resistance to flexibility, growth, and diversification.
True
Dissatisfaction with various aspects of one's job often motivates the launching of a new venture
True
Entrepreneurial Thinking is partly a Mental Process of Recognizing a signal and then deciding if the signal represents an opportunity for someone
True
Entrepreneurial opportunities are those situations in which new goods, services, raw materials, an organizing methods can be sold for financial or non-financial gain of the entrepreneur and/or other stakeholders
True
Entrepreneurial thinking partly is about reducing doubt as to whether an opportunity for someone is also an opportunity for them specifically, and/or processing feedback from action steps taken.
True
Entrepreneurs' intentions are based on their perception of feasibility rather than someone else's impression of whether it is feasible
True
For entrepreneurial actions that preserve nature to be considered sustainable entrepreneurship, they must also develop gains for the entrepreneur, others, and/or society
True
In a social network there are 2 major properties: density and centrality
True
Augmented reality is an example of the _______ trend.
wearable
Most entrepreneurs indicate that their most significant venture was not their first one
True
Perceived desirability refers to the degree to which an individual has a favorable or unfavorable evaluation of the potential entrepreneurial outcomes
True
Previous start-up experience is a good predictor of starting subsequent businesses.
True
Role models can include family members as well as industry professionals
True
Self-renewal includes the redefinition of the business concept, reorganization, and the introduction of system-wide changes to increase innovation. T/F?
True
The effectuation process starts with what one has and selects among possible outcomes
True
internal corporate venturing consists of creating 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
True
An entrepreneur hired others to handle front end activities, while the entrepreneur handled all back end activities. This is an example of
a hybrid approach
The moral support network is different from the professional support network in that
a professional support network includes finding a mentor
An entrepreneur considering if what they are doing makes sense is an example of
a reflection task
Creativity declines with
age, education, lack of use, and bureaucracy.
A young manager recognizes inflexibility in both staffing and production, slowing growth and loss of competitive advantage. This manger should encourage upper management to begin developing ________ within the company.
an entrepreneurial orientation
In the _______ method a new idea is developed through a list of related issues or suggestions.
checklist
On the education background, entrepreneurs:
cite an educational need in the areas of finance, strategic planning, marketing, and management.
Which of the following creative methods involves having participants write down their ideas several times a day?
collective notebook method
________ Is not desirable when brainstorming is in process
criticism
Which of the following is defined as having some disruptive influence on established consumption patterns
dynamically continuous innovations
Which of the following is NOT a leadership characteristic of a corporate entrepreneur according to the text?
encourages colleagues to follow hierarchy
all of the following statements are true of sustainable entrepreneurship EXCEPT
entrepreneurs with a positive attitude toward the natural environment never disengage these values to exploit an opportunity.
with regard to thinking structurally, superficial similarities
exist when the basic (relatively easy to observe) elements of the technology resemble the basic elements of the market.
How many stages are in the product planning and development process?
five
In the _________ method, a word is written down, then another, creating a chain of ideas.
free association
Patents filed with the U.S. Patent Office:
frequently suggest other new products
A sufficient time for top management to be committed to corporate entrepreneurship is:
at least three years
This problem-solving method requires the entrepreneur to list the properties of an item or problem and then look at each from a variety of viewpoints.
attribute listing
when establishing corporate entrepreneurship in an organization rewards should
be tied to the performance of the entrepreneurial unit created from the idea
This problem-solving method involves developing new ideas by thinking without constraints.
big-dream approach
Probably the most well-known and widely used technique for creative problem solving is
brainstorming
Structural Similarities exist when the underlying mechanisms of the technology resemble, or match, the underlying mechanisms of the market
True
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
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.
While there are many components in a professional-support network, _______ are particularly good with insight on both trends and competitors.
suppliers
the stage in the product planning and development process in which actual sales results are available is the
test marketing stage
Having an entrepreneurial orientation toward the control of resources means
that one focuses on accessing others' resources
Reverse brainstorming is much like brainstorming except that
the process usually involves identification of everything wrong with an idea.
Sustainable entrepreneurship provides only environmental gains for others
False
Traditionally managed firms commitment to opportunity is revolutionary with a long duration
False
When entrepreneurs make do by applying combinations of the resources at hand to new problems and opportunities, this is known as
bricolage
Individuals have stronger intentions to act when taking action is perceived to be ______ and desirable.
feasible
The opportunity recognition process contains all of the following except
reformation
Brainstorming groups should
try to generate as many ideas as possible
Which of the following is true?
Independent, venture-capital based start-ups by entrepreneurs tend to outperform corporate start-ups significantly.
which of the following answer options is not an example of a front end activity?
IT infrastructure
Which of the following statements is true?
Potential entrepreneurs should establish a formal method for monitoring and evaluating competitive products and services on the market.
_________ includes initiative and risk taking, as well as competitive aggressiveness and boldness.
Proactiveness
Questions designed to increase an entrepreneurs' understanding of the nature of the environment are known as
comprehension questions
In what stage would it be most beneficial to use conversational interviews?
concept stage
Parameter analysis consists of two main aspects that are
creative synthesis and parameter identification
What type of innovation is illustrated by the ideas of the airplane and penicillin?
Breakthrough innovation
The Occupational Safety and Health Act (OSHA) mandated that first-aid kits be available in business establishments employing rnore than three people. A newly formed company was successful in developing first-aid kits that allowed companies to comply with the standards of the act. This is an example of
government regulations as a source for new product ideas
Continuous innovations are described as
having the least disruptive influence on established consumption patterns
In what stage would you use the systematic market evaluation checklist
idea stage
New product development falls under which of the four major components of corporate entrepreneurship?
innovativeness
Which of the following is not one of the reasons cited for the failure of new ventures started within a corporation?
lack of resources
Which of the following statements is not true of the loss orientation approach to negative emotions?
loss orientation is based on both avoidance and proactiveness
Packlane, a custom packaging company, allows organizations to design their own shipping boxes with custom branding. This is an example of the _______ trend
maker