Question 1

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 create a culture of accountability and motivation towards achieving innovation and growth targets.

Question 2

In creating a culture for corporate entrepreneurship leadership is important.

Accepted Answer

Leadership plays a crucial role in creating a culture for corporate entrepreneurship. Leaders need to set the tone and lead by example in terms of encouraging innovation, taking risks, and supporting entrepreneurial initiatives within the organization. They need to provide resources, remove obstacles, and create an environment that supports entrepreneurial thinking and action. Without strong leadership, it is difficult to foster a culture of entrepreneurship within an organization.

Question 3

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

Accepted Answer

Traditionally managed firms are known for their focus on stability and predictability, rather than taking risks and pursuing new opportunities. Therefore, their commitment to opportunity is not revolutionary and does not have a long duration.

Question 4

Traditionally managed firms typically punish failure.

Accepted Answer

Traditionally managed firms have been known to punish failure as it is viewed as a lack of competence or skill. This can create a fear of failure in employees and discourage risk-taking and innovation. However, this approach is changing in modern management practices where failure is accepted as a necessary part of the learning and growth process.

Question 5

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 6

In corporate entrepreneurship,trial and error are encouraged.

Accepted Answer

In corporate entrepreneurship, trial and error are often encouraged as it allows for experimentation and innovation without fear of failure. This approach can lead to new opportunities and growth for the company.

Question 7

Developing a spirit of entrepreneurship within the existing organization,called corporate entrepreneurship,can lower resistance to flexibility,growth,and diversification.

Accepted Answer

Corporate entrepreneurship encourages innovation and risk-taking within an organization, which can lead to increased flexibility, growth, and diversification. It helps to break down resistance to change and promotes a culture of innovation and agility.

Question 8

Self-renewal includes the redefinition of the business concept,reorganization,and the introduction of system-wide changes to increase innovation.

Accepted Answer

Self-renewal refers to the strategic process of redefining the business concept, reorganizing the company, and implementing system-wide changes in order to stay competitive and innovative.

Question 9

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 10

Organizations that require a rapid return on investment and a high sales volume usually encourage and support new ideas.

Accepted Answer

Organizations requiring rapid ROI and high sales volume tend to prioritize proven, low-risk strategies over new, untested ideas due to the uncertainty and potential delay in seeing returns on investment.

Question 11

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 for corporate entrepreneurship involves taking risks and exploring new innovative technologies, approaches, and ideas. Using older, proven technology may increase stability in the short term but can stifle creativity and limit the potential for growth and development in the long term. It is important to strike a balance between stability and innovation to ensure sustainable growth and success.

Question 12

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

Accepted Answer

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

Question 13

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

Accepted Answer

This statement is true. Corporate entrepreneurship involves the development and implementation of entrepreneurial activities within established organizations, which is reflected in both the actions of individuals within the organization and the attitudes and orientations of top managers.

Question 14

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

Accepted Answer

Entrepreneurs are typically more focused on being resourceful and finding ways to do more with less, while traditional firms may prioritize accumulating resources and investing in infrastructure.

Question 15

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 16

The corporate entrepreneur encourages teamwork and uses a multidisciplined approach,which violates organizational practices and structures taught in most business schools.

Accepted Answer

The statement correctly describes that the corporate entrepreneur encourages a multidisciplined approach and teamwork, which may not align with traditional organizational practices and structures taught in most business schools.

Question 17

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

Accepted Answer

An external process can bring in new ideas and perspectives, which can help to create an entrepreneurial environment.

Question 18

Internal 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

Internal corporate venturing involves creating something new of value through various means such as redefining current products or services, developing new markets, or forming autonomous or semiautonomous units or firms.

Question 19

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

Accepted Answer

Entrepreneurially managed firms tend to have a less hierarchical and more flexible organizational structure, with a focus on fostering a culture of innovation and creativity. This often translates into a flatter structure with multiple informal networks and a collaborative approach to decision-making.

Question 20

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

Accepted Answer

Becoming more entrepreneurial often involves pursuing growth and innovation opportunities with limited resources, so maximizing productivity and efficiency becomes crucial.

Quiz 2: Corporate Entrepreneurship