Exam 2: Entrepreneurial Intentions and Corporate Entrepreneurship

Corporate entrepreneurship is most strongly reflected in entrepreneurial activities as well as in top management orientations in organizations.

Which of the following is true?

Identify and briefly describe the 4 major parts of corporate entrepreneurship. 1.New business venturing: These entrepreneurial activities consist 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. 2.Organizational innovativeness refers to product and service innovation.It includes new product development,product improvements,and new production methods and procedures. 3.Self-renewal is the transformation of an organization through the renewal of the key ideas on which it is built.Includes a redefinition of the business concept,reorganization,and the introduction of system wide changes to increase innovation. 4.Proactiveness includes initiative and risk taking,as well as competitive aggressiveness and boldness,which are particularly reflected in the orientations and activities of top management.A proactive organization tends to take risks by conducting experiments;it also takes initiative and is bold and aggressive in pursuing opportunities.Organizations with this proactive spirit attempt to lead rather than follow competitors in such key business areas as the introduction of new products or services,operating technologies,and administrative techniques.

In corporate entrepreneurship,trial and error are encouraged.

Which of the following is most effective in grief-recovery?

Entrepreneurial endeavors consist of new business venturing,innovativeness,self-renewal,and reactiveness.

Explain the dual process model of coping with negative emotions. Student should define process as shifting between a loss orientation and a restoration orientation.The student should also explain the two types of loss: 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. An approach to negative emotions based on both avoidance and a proactiveness toward secondary sources of stress arising from a major loss. The entrepreneur can benefit from both orientations while minimizing the costs of maintaining either for too long.

In encouraging a culture for corporate entrepreneurship,using older,proven,technology is recommended in order to increase stability in the organization.

Firms that are more entrepreneurial are likely to have fewer failures than those firms that are more traditionally managed.

When would an entrepreneur be pronounced to have recovered from the grief of a lost business?

Entrepreneurs focus on how to minimize resources needed whereas traditional firms focus on accumulating resources.

Discuss three major ways in which managerial and entrepreneurial decision making differs.

A sufficient time for top management to be committed to corporate entrepreneurship is:

The typical corporate culture has a climate and a reward system that favors activist decision making.

Traditionally managed firms commitment to opportunity is revolutionary with a long duration.

Most managers in a corporation are capable of being successful corporate entrepreneurs with the correct training.

Self-renewal includes the re-definition of the business concept,reorganization,and the introduction of systemwide changes to increase innovation.

For an organization with a traditional environment,it is best to facilitate an external process to establish an entrepreneurial environment.

Generally,independent,venture-capital-based start-ups by entrepreneurs tend to outperform corporate start-ups significantly.

An organization that wants to become more entrepreneurial must learn to be more productive with fewer resources.