Question 1

________ involves improving the firm's ability to execute strategies and focuses on new processes instead of new products.
A) Sustained regeneration
B) Project hosting
C) Organizational rejuvenation
D) Strategic renewal
E) Domain definition

Accepted Answer

The answer of ________ involves improving the firm's ability to...

Question 2

Which of the following is an example of corporate entrepreneurship?
A) creating new products, services, or technologies
B) editing papers and reports
C) reinvesting funds in other companies
D) contracting work to consultants
E) reducing corporate organization

Accepted Answer

Corporate entrepreneurship involves the development and introduction of new products, services, or technologies within an established organization. The other options listed (editing papers and reports, reinvesting funds in other companies, contracting work to consultants, and reducing corporate organization) do not necessarily involve the creation of new ventures within the organization.

Question 3

Beth heads the team of designers at La Belle, Inc., a well-known brand of designer bags. She is an extraordinary designer and manages her team excellently. In the past, La Belle has successfully implemented many of Beth's innovative ideas to their benefit. The company has now decided that Beth should be given the responsibility of managing their new business unit that specializes in clothes, shoes, and other accessories. What type of entrepreneurship is displayed in this scenario?
A) intrapreneurship
B) creative destruction
C) corporate social entrepreneurship
D) social entrepreneurship
E) corporate entrepreneurship

Accepted Answer

Beth is being given the responsibility of managing a new business unit within the existing company. This type of entrepreneurship, where an individual or team within a larger organization creates new business opportunities or ventures, is called corporate entrepreneurship or intrapreneurship. Therefore, option E, corporate entrepreneurship, is displayed in this scenario.

Question 4

Which of the following is true about corporate entrepreneurship?
A) Corporate entrepreneurs focus on less quantitative performance measures that are not related to money.
B) The purpose of corporate entrepreneurship is to create value for the public.
C) Corporate entrepreneurs face more difficulties attracting capital from angel investors, venture capitalists, or banks.
D) Corporate entrepreneurship results in new companies that often continue to work closely with the parent company.
E) Corporate entrepreneurs often face difficulties in the form of hiring and compensating employees.

Accepted Answer

Corporate entrepreneurship typically results in the creation of new companies that maintain a close relationship with the parent company. This can be in the form of partnerships, joint ventures, or even fully owned subsidiaries. Option A is incorrect because corporate entrepreneurs focus on quantitative performance measures related to money. Option B is incorrect because the purpose of corporate entrepreneurship is to create value for both the company and the public. Option C is incorrect because corporate entrepreneurs usually have an advantage in accessing capital due to the backing of the parent company. Option E is incorrect because corporate entrepreneurs have the resources of the parent company to attract and compensate employees.

Question 5

________ occurs when firms develop new culture, processes, or structures to support new product innovations in current markets as well as with existing products in new markets.
A) Domain definition
B) Organized rejuvenation
C) Strategic renewal
D) Sustained regeneration
E) Project hosting

Accepted Answer

The answer of ________ occurs when firms develop new culture,...

Question 6

Which of the following is the most frequently used type of corporate entrepreneurship?
A) sustained regeneration
B) organized rejuvenation
C) domain definition
D) strategic renewal
E) project hosting

Accepted Answer

The answer of Which of the following is the most...

Question 7

Strategic renewal occurs when a firm proactively seeks to create a new product market position that competitors have not recognized.

Accepted Answer

The answer of Strategic renewal occurs when a firm proactively...

Question 8

The success of corporate entrepreneurship efforts will depend on many factors. Which of the following are examples of dependent factors?
A) organization's culture, practices, tolerance level for uncertainty
B) stakeholders and investors
C) Dow and NASDAQ
D) individual profits
E) competition

Accepted Answer

The organization's culture, practices, and level of tolerance for uncertainty are all internal factors that can influence the success of corporate entrepreneurship efforts. Stakeholders and investors (B), individual profits (D), and competition (E) are external factors that are not directly under the control of the organization and are not as dependent on its internal culture and practices. Dow and NASDAQ (C) may indirectly affect the success of entrepreneurship efforts, but they are not directly dependent factors.

Question 9

________ occurs when a firm proactively seeks to create a new product market position that competitors have not recognized.
A) Sustained regeneration
B) Organized rejuvenation
C) Public hosting
D) Strategic renewal
E) Domain definition

Accepted Answer

Domain definition occurs when a firm proactively seeks to create a new product market position that competitors have not recognized, essentially defining a new domain or category within the market.

Question 10

What is corporate entrepreneurship?

Accepted Answer

The answer of What is corporate entrepreneurship?...

Question 11

________ occurs when a firm attempts to alter its own competitive strategy.
A) Public hosting
B) Sustained regeneration
C) Organized rejuvenation
D) Strategic renewal
E) Domain definition

Accepted Answer

Strategic renewal is the process of reassessing and modifying a firm's competitive strategy in order to improve its performance or adapt to changing market conditions. It involves rethinking the company's mission, goals, and objectives, as well as its products, services, and marketing strategies. This can range from minor adjustments to major overhauls of the entire business model, depending on the scope and severity of the challenges facing the company. Therefore, option D is the correct choice.

Question 12

Angel investors and venture capitalists provide ________ for entrepreneurial opportunities.
A) consulting
B) management
C) research analysis
D) financing
E) feasibility analysis

Accepted Answer

Angel investors and venture capitalists provide financing for entrepreneurial opportunities. They invest money into startups and early-stage businesses in exchange for equity or ownership in the company. This funding can be used to hire employees, develop products, expand operations, and more. Angel investors and venture capitalists also often provide strategic advice and industry connections to help the company grow and succeed.

Question 13

When do entrepreneurs require external capital? Describe the three primary sources of external capital.

Accepted Answer

The answer of When do entrepreneurs require external capital? Describe...

Question 14

________ is the process in which an individual or group of individuals in an existing corporation create a new organization or instigate renewal or innovation within that corporation.
A) Corporate social entrepreneurship
B) Intrapreneurship
C) Entrepreneurship
D) Corporate entrepreneurship
E) Social entrepreneurship

Accepted Answer

Corporate entrepreneurship is the process in which an individual or group of individuals in an existing corporation create a new organization or instigate renewal or innovation within that corporation. This can involve developing new products or services, entering new markets, or finding new ways to streamline operations and increase efficiency. It is often referred to as "intrapreneurship" because it involves applying entrepreneurial principles within an established corporate environment. Option A, C, and E are different types of entrepreneurship but are not specific to the corporate setting.

Question 15

With respect to corporate entrepreneurship, sustained regeneration occurs when firms develop new culture, processes, or structures to support new product innovations.

Accepted Answer

Sustained regeneration is essential for firms to continue to innovate and maintain their competitiveness. This can be achieved through developing new culture, processes, and structures that support continuous new product innovations.

Question 16

________ occurs when a firm tries to offer a new strategy altogether, unlike introducing a new product or service.
A) Public hosting
B) Sustained regeneration
C) Organized rejuvenation
D) Strategic renewal
E) Domain definition

Accepted Answer

Strategic renewal occurs when a firm tries to offer a new strategy altogether. This can involve changing the company's mission, vision, or objectives, or repositioning the organization in a new market or industry. It is different from introducing a new product or service, as it involves an overall change in the company's direction and focus.

Question 17

When pursuing domain definition, what should firms hope for?
A) to be moderately competitive in the market segment
B) organized rejuvenation
C) to become the first competitor in a market segment
D) strategic renewal
E) to be one of many competitors in the market segment

Accepted Answer

When pursuing domain definition, firms should aim to become the first competitor in a market segment. This will give them a competitive advantage and allow them to establish themselves as a leader in the segment.

Question 18

An example of organizational rejuvenation is when Meryl Computers Inc., a computer hardware company, changes policies and procedures within the company to support innovation.

Accepted Answer

Organizational rejuvenation refers to the process of making changes within a company to revitalize its operations and improve its performance. One example of organizational rejuvenation is when a company like Meryl Computers Inc. changes its policies and procedures to foster a culture of innovation and creativity. By doing so, the company is able to adapt to changing market conditions and stay ahead of its competitors.

Question 19

When an individual or group of individuals in an existing corporation create a new organization or create a new group within an existing organization, they are involved in ________ entrepreneurship.
A) corporate
B) social
C) commercial
D) innovative
E) strategic

Accepted Answer

Corporate entrepreneurship involves creating a new venture within an existing corporation, which can take the form of creating a new organization or a new group within the existing organization. This type of entrepreneurship is driven by the desire to innovate and create new opportunities within the established company. Social entrepreneurship focuses on creating social and environmental impact, commercial entrepreneurship involves starting a business for profit, innovative entrepreneurship focuses on developing new technologies or processes, and strategic entrepreneurship involves aligning business strategies with environmental factors. None of these fully match the scenario described in the question, making corporate entrepreneurship the best choice.

Question 20

The pursuit of entrepreneurial opportunities for the purpose of generating sales and profits is called ________.
A) commercial entrepreneurship
B) intrapreneurship
C) intrepreneurship
D) corporate entrepreneurship
E) social entrepreneurship

Accepted Answer

Commercial entrepreneurship refers to starting a business venture with the intention of earning a profit. This involves identifying profitable opportunities, creating and promoting products or services, and selling them to customers. Intrapreneurship, intrepreneurship, and corporate entrepreneurship refer to entrepreneurial activities within existing organizations, while social entrepreneurship focuses on creating social or environmental impact rather than exclusively generating profits.

Quiz 20: Management and Entrepreneurship: Handling Start-Ups and New Ventures

________ involves improving the firm's ability to execute strategies and focuses on new processes instead of new products.

Which of the following is an example of corporate entrepreneurship?

Which of the following is true about corporate entrepreneurship?

________ occurs when firms develop new culture, processes, or structures to support new product innovations in current markets as well as with existing products in new markets.

Which of the following is the most frequently used type of corporate entrepreneurship?

Strategic renewal occurs when a firm proactively seeks to create a new product market position that competitors have not recognized.

The success of corporate entrepreneurship efforts will depend on many factors. Which of the following are examples of dependent factors?

________ occurs when a firm proactively seeks to create a new product market position that competitors have not recognized.

What is corporate entrepreneurship?

________ occurs when a firm attempts to alter its own competitive strategy.

Angel investors and venture capitalists provide ________ for entrepreneurial opportunities.

When do entrepreneurs require external capital? Describe the three primary sources of external capital.

________ is the process in which an individual or group of individuals in an existing corporation create a new organization or instigate renewal or innovation within that corporation.

With respect to corporate entrepreneurship, sustained regeneration occurs when firms develop new culture, processes, or structures to support new product innovations.

________ occurs when a firm tries to offer a new strategy altogether, unlike introducing a new product or service.

When pursuing domain definition, what should firms hope for?

An example of organizational rejuvenation is when Meryl Computers Inc., a computer hardware company, changes policies and procedures within the company to support innovation.

When an individual or group of individuals in an existing corporation create a new organization or create a new group within an existing organization, they are involved in ________ entrepreneurship.

The pursuit of entrepreneurial opportunities for the purpose of generating sales and profits is called ________.