Entrepreneurship Final Chapter 13
Entrepreneurial strategy matrix measures
Risk and innovation
A "SWOT" analysis refers to
Strength, weaknesses, opportunities, threats
Pst is the best predictor of the future, according to which mind-set
Managerial mind-set
Strategy matrix model, innovation is defined as
Something new and different
Analysis of a firm's external and internal environments provides the firms with the info to develop
Strategic intent and strategic mission
Formation of long-range plans for effective management in light of a venture's strengths and weaknesses is referred to as
Strategic planning
Management principles does NOT emanate from Steve Jobs
Strive to reach practical milestones
Characteristic of administrative cultures except
Need to reduce risk
Considered fatal mistakes in strategic planning, according to researcher Michael E. Porter
No real competitive advantage and compromising strategy for growth
Reason many small business managers lack expertise is that they are
Generalists
Characteristic of entrepreneurial cultures
Hierarchy
3 types of leadership of consequences to new ventures
Visionary, strategic, and managerial
Entrepreneurial strategy matrix, the probability of a major financial loss is categorized as
A risk
Unique managerial concerns of growing ventures encompass all of the following except
Agency problems
Entrepreneurial strategy matrix, the creation of something new and different is categorized as
An innovation
Is NOT perceived as a difficulty in long-range planning
Arranging vacation time
Small business owners are often guarded about their businesses, which leads to
Distrust of others when formulating a strategic plan
One-person-band syndrome
Failure to delegate
New ventures are important to the economy in terms of
Innovation and Employment
NOT a distinct form of tolerance for failure
Innovation failure
Reason new venture managers lack knowledge in the strategic planning process is because
They have minimal exposure to the planning process
Emerging ventures that are rapidly expanding with constantly increasing personnel size and market operations will need
To formalize planning because there is a great deal of complexity
Is NOT a reason for the lack of planning in new ventures
Lack of dominance
A reason for lack of strategic planning has been found to be
Lack of expertise
Factors would NOT be considered a key dimension that shapes the strategic management activities of a growing firm
Lack of knowledge
In many new small ventures planning is often
Lacking
When it comes to strategic planning, most small firms
Really do not engage in true strategic planning
