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strategic exam 2-3
| Question | Answer |
|---|---|
| Firms develop innovations in all the following ways EXCEPT: a. through autonomous or induced strategic behavior. b. by acquiring other companies. c. through cooperative strategies. d. via divestiture of low-performing units. | d. via divestiture of low-performing units. |
| Pet Care Companion Connection (PCCC) is an organization that a. taking advantage of a need in the marketplace. b. creative destruction of existing services for pet boarding. c. institutionalized entrepreneurship. | a. taking advantage of a need in the marketplace. |
| Isidore Security Services is a national provide a. This is an example of an established firm neglecting the opportunity-seeking aspect of strategic entrepreneurship. b. This example shows the dysf | a. This is an example of an established firm neglecting the opportunity-seeking aspect of strategic entrepreneurship. |
| The use or application of entrepreneurship within an established firm is called: a. corporate emergence. b. transformational leadership. c. exceptional R&D. d. corporate entrepreneurship. | d. corporate entrepreneurship. |
| Entrepreneurship is the process by which individuals or groups identify and pursue ____ without being immediately constrained by the ____ they currently control. a. opportunities; resources b. opportunities; core competencies | a. opportunities; resources |
| ____ exist(s) when there is a need in the market that can be satisfied by new goods or services. a. Potentiality b. Market readiness c. Entrepreneurial opportunities d. Critical core competencies | c. Entrepreneurial opportunities |
| Because it replaces existing products and methods of production, entrepreneurship is a process of: a. harnessing the human potential. b. creative destruction. c. creation of opportunity. d. exploitation of innovation. | b. creative destruction. |
| GreenBox, a company that recycles paper products to make cardboard cartons, has introduced a new product that resists damag a. this innovation will resist competitors' attempts to imitate it. b. its investors will react positively | b. its investors will react positively to the introduction of the new product because of the potential for higher returns. |
| . Innovation creates a(n): a. opportunity for a new product or process. b. new product or process. c. commercial product. d. idea for potential exploitation. | c. commercial product. |
| According to Peter Drucker,the primary goal of innovation is to: a. promote social well-being. b. increase the number of jobs. c. create wealth. d. support national economies. | c. create wealth. |
| The three types of innovative activity include all of the following EXCEPT: a. invention. b. imitation. c. implementation. d. innovation. | c. implementation. |
| Products developed through ______ are often offered at lower prices without as many features as products developed through ______. a. innovation; imitation b. imitation; invention c. imitation; innovation d. innovation; invention | c. imitation; innovation |
| The number of patents held by an organization is a rough guide to the: b. future success of an initial public offering. c. amount of venture capital a firm will be d. level of innovation in a firm. | d. level of innovation in a firm. |
| 3M's Cubitron II, described as "an industrial abrasive that cuts faster, lasts longer, sharpens itself a. imitation of a competitor's product. b. a novel innovation. c. an incremental innovation. | c. an incremental innovation. |
| ____are individuals, acting independently or as part of an organization, who see an opportunity and then take risks to develop an innovation to exploit it. a. Leaders b. Innovators c. Entrepreneurs d. Transformative leaders | c. Entrepreneurs |
| Entrepreneurs tend to have all the following characteristics EXCEPT: a. willing to take responsibility for projects. b. passion. c. preference for certainly about projects. d. optimism. | c. preference for certainly about projects. |
| . Roland has developed and patented an inexpensive and organic way to enhance the fertility of clay soil a. the ability to identify opportunities. b. a corporate sponsor. c. financial slack. d. passion for his invention. | d. passion for his invention. |
| If the firm's current employees are well-trained in their jobs, but also have other knowledge, skills, an a. social capital. b. entrepreneurial capabilities. c. high absorptive capacity to learn. d. intellectual slack. | c. high absorptive capacity to learn. |
| Knowledge must be transferred to others in the firm to enhance the entrepreneurial competence of the firm. This requires that: a. the receiving party has adequate absorptive capacity to learn. b. the communication process be highly intensive. | a. the receiving party has adequate absorptive capacity to learn. |
| The risks of international entrepreneurship include all the following EXCEPT: a. unstable foreign currencies. b. problems with market efficiencies. c. limitations on market size. d. strong "buy-domestic" programs. | d. strong "buy-domestic" programs. |
| Research shows that internationally diversified firms tend to be ____ than domestic-only firms. a. less profitable b. more innovative c. less technologically advanced d. more likely to have an individualistic culture | b. more innovative |
| The level of entrepreneurial activity in a nation is ____ the nation's level of economic development. a. negatively related to b. independent of c. positively related to d. weakly related to | c. positively related to |
| ____ is one of the reasons for the differences in rates of entrepreneurship among different countries. a. Climate b. Competitiveness c. Culture d. Constitution | c. Culture |
| Research suggests that _________ is needed to encourage entrepreneurial behavior. a. individualism rather than collectivism b. a balance between individualism and cooperative behavior c. collectivism rather than individualism | b. a balance between individualism and cooperative behavior |
| AgroPharm is searching for a top-level executive. AgroPharm has marketed its products only to U.S. far a. be of Hispanic descent. b. have international experience. c. possess an advanced degree in animal science. ms | b. have international experience. |
| Which of the following is true? For firms to be entrepreneurial, they require a culture with: a. an emphasis on individualism in Western nations b. an exceptionally high level of collectivism. c. a balance of individualism and collectivism. | c. a balance of individualism and collectivism. |
| Successfully creating innovations through internal means requires: a. a highly individualistic culture. b. significant spending on R&D. c. acquisitions of innovative firms. | b. significant spending on R&D. |
| Panera Bread has innovated to improve the quality of its distribution system, to improve the quality of its bread dough, and to introduce new menu items. a. incremental innovation. b. invention. c. imitation. d. the use of social capital. | a. incremental innovation. |
| QuadroVax is investing heavily in research and development on new methods of vaccine development that would speed up the a. immediate wealth creation. b. a long wait for an uncertain payoff. c. a long wait for a high probability payoff. | b. a long wait for an uncertain payoff. |
| A successful ____ innovation will be less risky but less profitable than a successful ____ innovation. a. incremental; novel b. novel; incremental c. alliance-generated; acquisition-generated d. acquisition-generated; alliance-generated | a. incremental; novel |
| The development of the original personal computer (PC) was a(n) ____ innovation at the time, whereas adding a different kind of whitening agent to a soap detergent in an example of a(n) ____ innovation. a. incremental; novel b. novel; incremental | b. novel; incremental |
| Innovations that involve significant technological breakthroughs and create new knowledge: a. build incrementally on the firm's existing technologies b. are the most common type of innovation. c. involve substantial uncertainty and risk. | c. involve substantial uncertainty and risk. |
| ____ involves internally developed incremental and novel innovations that result from deliberate efforts. a. Internal corporate venturing b. Autonomous strategic behaviors c. Bottom-up strategic behaviors | a. Internal corporate venturing |
| Internal corporate venturing does NOT involve: a. autonomous strategic behavior. b. induced strategic behavior. c. strategic alliances. d. product champions. | c. strategic alliances. |
| WayWard Products has a deliberate strategy to encourage internal innovations. It has established processes to support autonomous strateg a. entrepreneurial incubation. b. creative destruction. c. internal corporate venturing. | c. internal corporate venturing. |
| One of the distinguishing differences between the two sources of internal corporate venturing (autonomous strategic behavior and induced strategic behavior) is a. is encouraged through a bottom-up b. is encouraged by a product champion | a. is encouraged through a bottom-up or top-down process. |
| Autonomous strategic behavior is a(n) ____ process in which product champions pursue new ideas. a. top-down b. horizontal c. integrated d. bottom-up | d. bottom-up |
| The idea that it is "vital to sell the ideas to others in the organization so that innovations will be commercialized" is the rationale behind the use of: a. product champions. b. joint ventures. c. strategic leadership. | a. product champions. |
| A negative effect of acquiring other firms for the purpose of innovation is: a. innovations cannot be transferred between organizations. b. the effect it can have on the firm's own ability to produce innovations. | b. the effect it can have on the firm's own ability to produce innovations. |
| Charles is a customer service representative for a home improvement store. a. uses the induced strategic behavior form of internal corporate venturing. b. uses the autonomous strategic behavior form of internal corporate venturing. | b. uses the autonomous strategic behavior form of internal corporate venturing. |
| The new abrasive, Cubitron II, was developed through cooperative relationships among 3M business units. As such, Cubitron II is an example of: a. the use of autonomous strategic behavior. b. the use of induced strategic behavior. | b. the use of induced strategic behavior. |
| To be successful, an autonomous process for developing new products relies on: a. the diffusion of tacit knowledge. b. the acquisition of innovative firms. c. strategic alliances with other firms. d. internal corporate venturing. | a. the diffusion of tacit knowledge. |
| Induced strategic behavior is a process that fosters product innovations that: a. are likely to change a firm's strategic b. will lead to greater financial returns. c. are aligned closely with current strategy and structure. | c. are aligned closely with current strategy and structure. |
| Induced strategic behavior as a form of internal innovation is a(n) ____ process. a. bottom-up b. top-down c. free-flowing d. external | b. top-down |
| Through the work of cross-functional teams, product development stages are grouped into ____ processes. a. short-term and long-term b. parallel or overlapping c. serially ordered d. complementary | b. parallel or overlapping |
| In the implementation of internal innovations, formal and informal processes are best supported through ____ organizational structures. a. vertical b. horizontal c. functionally oriented d. multidivisional | b. horizontal |
| A major barrier to the use of cross-functional teams is: a. excessive individualism of creative people. b. lack of communication skills of technical people. c. independent frames of reference of team members. | c. independent frames of reference of team members. |
| When used effectively, cross-functional teams will often bring about: a. faster product development processes. b. an increased need for additional information. | a. faster product development processes. |
| Which of the following is one of the barriers to effectiveness when using cross-functional teams to integrate organizational functions? c. the firm's strategic orientation d. organizational politics | d. organizational politics |
| A cross-functional work team is having difficulties in operating smoothly and friction has developed among some of the members. a. interpersonal orientation. b. time orientation. c. goal orientation. d. formality of structure. | d. formality of structure. |
| The dimensions on which functional departments can vary include all the following EXCEPT ____ orientation. a. time b. customer c. technological d. interpersonal | c. technological |
| The competition for resources among those representing different organizational functions within a firm often leads to: a. erosion of social capital. b. heightened communication. c. organizational politics. | c. organizational politics. |
| The firm's culture promotes unity of purpose for cross-functional work teams through: a. a collectivist structure. b. an entrepreneurial mind-set. c. shared values. d. resource allocation. | c. shared values. |
| Value creation through internal innovation originates with: a. an entrepreneurial mind-set. b. cross-product development teams. c. shared values and entrepreneurial leadership. d. innovation. | a. an entrepreneurial mind-set. |
| PracticalSolutions is a small firm providing employee assistance programs for companies with troubled employees. a. intellectual capital. b. institutional capital. c. alignment of complementary assets. | c. alignment of complementary assets. |
| Blixin Concrete Products, an established firm, is seeking a technologically advanced partner for a strategic alliance. a. investment capital. b. management expertise. c. research and development competencies. d. social networks. | a. investment capital. |
| Regarding partnering in cooperative alliances, entrepreneurial new companies may seek ____ while more established companies may need _____. c. social capital; technical capital d. investment capital; new technological knowledge | d. investment capital; new technological knowledge |
| The main risk in a strategic alliance is that: a. the alliance will not result in a successful innovation. b. critical employees will be hired away by the strategic partner. c. one partner will use the other partner's knowledge | c. one partner will use the other partner's knowledge and use it to enhance its own competitive abilities. |
| Why have large pharmaceutical companies been forming alliances with biotechnology companies? a. To evade legislative restrictions on drug research b. To develop new products and bring them to market c. Because both firms had declining | b. To develop new products and bring them to market |
| New entrepreneurial firms are better than larger established firms at: a. implementing innovations. b. gaining competitive advantage. c. making alliances. d. identifying entrepreneurial opportunities. | d. identifying entrepreneurial opportunities. |
| ____ is(are) critical in order for a firm to gain access to resources from partners in a cooperative alliance. a. Complementary strategic goals b. Shared values c. An entrepreneurial mind-set d. Compatible organizational cultures | a. Complementary strategic goals |
Created by:
anonymou