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Exam 13: Strategic Entrepreneurship

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Question 41

Multiple Choice

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Which of the following is one of the barriers to effectiveness when using cross-functional teams to integrate organizational functions?

A) Dissension within the top management team
B) Informal organizational processes within the firm
C) The firm's strategic orientation
D) Organizational politics

E) A) and D)
F) A) and C)

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Question 42

True/False

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Rosalie has become totally preoccupied with her idea for creating a business leasing horses to riders on the same principle as time-shares on condominiums.Rosalie is researching the legal, financial, and insurance aspects of her idea and is preparing a prospectus to take to banks to ask for a business loan.Rosalie's significant other is complaining that she "sleeps, eats, and drinks" this concept.Rosalie has the entrepreneurial characteristic of passion.

A) True
B) False

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Question 43

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Entrepreneurial opportunities exist because of competitive imperfections in markets and among the factors of production used to produce them or because they were independently developed by entrepreneurs.

Cross-functional work teams are best supported by vertical organizational structures.

Innovation creates a(n) :

Corporate entrepreneurship describes the opportunity seeking and exploitation of innovations in new start-up enterprises.

Acquisitions are a means of extending the company's product line and increasing revenues.The capital market values growth.Therefore, some firms make acquisitions to improve their standing in the capital markets.

The level of entrepreneurial activity in a nation is __________ the nation's level of economic productivity.

For firms to be entrepreneurial, they must stress individualism in their employees above all other characteristics.

Charles is a customer service representative for a home improvement store.He has creative ideas about how to increase customer satisfaction.Charles's talents will MOST likely be used in a firm that:

Discuss the potential benefits and disadvantages of innovation through cooperative strategies.

Discuss the benefits and risks of acquiring another firm to gain access to innovations.

The competition for resources among those representing different organizational functions within a firm often leads to:

Entrepreneurial opportunities are conditions in which new goods or services can satisfy a need in the market.

Acquisitions are a low-risk approach to producing and managing innovation.

Evidence demonstrates that large established firms with well-funded R&D operations are more effective at innovation than are smaller or younger firms.

A successful __________ innovation will be less risky but less profitable than a successful __________ innovation.

Innovations that involve significant technological breakthroughs and create new knowledge:

Blixin Concrete Products, an established firm, is seeking a technologically advanced partner for a strategic alliance.If the potential partner is a new entrepreneurial venture, the main benefit that Blixin Concrete can offer is probably:

FutureTech used an induced approach to innovation to create open innovation because it wants to be the firm whose products become the source of industry standards.