Question 1

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.

Accepted Answer

This statement accurately describes the concept of corporate venturing.

Question 2

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

Accepted Answer

The typical corporate culture has a climate and a reward system that favor conservative decision making.

Question 3

An entrepreneur's recovery from grief is detrimental to society.

Accepted Answer

The recovery from grief is a personal process and does not necessarily have any direct impact on society. In fact, an entrepreneur who has successfully overcome grief may be better equipped to make positive contributions to society through their business ventures.

Question 4

Robert Mondavi Winery was the first Californian to produce and market premium wines that were expected to compete with European wines.

Accepted Answer

Robert Mondavi Winery was established in 1966 and was the first winery in California to produce and market premium wines that could compete with European wines.

Question 5

The corporate entrepreneur to have the ability to encourage teamwork and use a multidisciplined approach,which violates organizational practices and structures taught in most business schools.

Accepted Answer

Corporate entrepreneurship often requires breaking down traditional silos and encouraging collaboration across departments, which goes against traditional organizational structures taught in many business schools. Therefore, the ability to promote teamwork and take a multidisciplinary approach is an important trait for a successful corporate entrepreneur.

Question 6

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

Accepted Answer

Being entrepreneurial often involves taking risks and making the most out of limited resources. This requires a focus on efficiency and productivity in order to achieve more with fewer resources.

Question 7

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

Accepted Answer

Encouraging a culture of corporate entrepreneurship typically involves promoting innovation and experimentation, which often involves using new and emerging technologies. While stability is important, relying solely on older technology may inhibit growth and hinder the organization's ability to adapt to changes in the market.

Question 8

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

Accepted Answer

The answer of Most managers in a corporation are capable...

Question 9

One study found that new ventures started within a corporation performed better than those started independently by entrepreneurs.

Accepted Answer

The answer of One study found that new ventures started...

Question 10

It is important for an entrepreneur to understand all aspects of the environment.Part of this ability is reflected in the individual's level of creativity,which generally increases with age and education in most individuals.

Accepted Answer

The statement is not entirely true. While age and education can contribute to an individual's level of creativity, it is not always the case. Additionally, understanding the environment involves more than just creativity, it also involves knowledge and awareness of various factors such as market trends, competition, and regulations.

Question 11

Entrepreneurially run firms are driven by controlled resources whereas traditionally managed firms are driven by perception of opportunity.

Accepted Answer

Entrepreneurially run firms are characterized by a perception of opportunity and a willingness to take risks, while traditionally managed firms are typically more focused on controlling resources and minimizing risks.

Question 12

Entrepreneurially managed firm structure is usually flat with multiple informal networks.

Accepted Answer

Entrepreneurially managed firms prioritize flexibility and agility, which often leads to a flatter organizational structure and reliance on informal networks for communication and coordination.

Question 13

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

Accepted Answer

This statement correctly contrasts the mindset and approach of entrepreneurs and traditional firms. Entrepreneurs often seek to be resourceful and find ways to achieve their objectives with as little investment as possible, while traditional firms often aim to amass resources and have the capacity for growth and development.

Question 14

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

Accepted Answer

Independent, venture-capital-based start-ups usually have more flexibility and agility compared to corporate start-ups, which are usually restricted by corporate bureaucracy and hierarchy. Therefore, independent start-ups are more likely to succeed and outperform corporate start-ups.

Question 15

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

Accepted Answer

The answer of For an organization with a traditional environment,it...

Question 16

In an encouraging climate for corporate entrepreneurship,rewards should be based on the attainment of established performance goals.

Accepted Answer

In an encouraging climate for corporate entrepreneurship, rewards should be based on the attainment of established performance goals to incentivize and motivate employees to achieve specific objectives.

Question 17

Corporate ventures are totally independent units,hence the equity portion of the compensation is particularly difficult to handle.

Accepted Answer

Corporate ventures are typically not totally independent units; they are connected to the parent company, which can make handling the equity portion of the compensation more straightforward through structured agreements and predefined equity sharing mechanisms.

Question 18

Entrepreneurial activities tend to immediately affect the bottom line,and hence are seldom overlooked and receive extensive funding and support.

Accepted Answer

Entrepreneurial activities often involve risk and may not immediately affect the bottom line positively. They can be overlooked due to their uncertain outcomes and might struggle to receive extensive funding and support, especially in risk-averse environments.

Question 19

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

Accepted Answer

Traditionally managed firms prioritize stability and consistency over opportunity and innovation, and their commitment to change and adaptability is not necessarily revolutionary or long-lasting.

Question 20

Robert Mondavi came up with all of the following process innovations except:

Accepted Answer

Robert Mondavi did not introduce labels that indicated when the wine was cold. He did introduce steel fermentation tanks, vacuum corking of bottles, and aging wines in new French oak barrels as process innovations.

Quiz 2: Entrepreneurial Intentions and Corporate Entrepreneurship