Question 1

All of the following statements about innovativeness are , except

Accepted Answer

A)   it refers to making decisions and taking risks without certain knowledge of probable outcomes.
B)   it refers to a firm's efforts to find new opportunities and novel solutions.
C)   it involves creativity and experimentation.
D)   it is aimed at developing new products, services, and processes.E) B) and D)
F) None of the above

Question 2

The term "innovations" refers primarily to inventions that use the latest technologies.

Accepted Answer

A) True 
 B)False

Question 3

All of the following are questions that should be answered when evaluating the performance of corporate venturing efforts, except:

Accepted Answer

A)   Is the venture attracting external venture funding?
B)   Is the venture considered to be a market success?
C)   Does the venture add to the worth of the firm internally?
D)   Does the value proposition offered by the venture insulate it from competitive attack?E) B) and C)
F) A) and C)

Question 4

Most new entrants use an adaptive strategy.

Accepted Answer

A) True 
 B)False

Question 5

Strategic renewal and the pursuit of new venture opportunities are the two primary aims of corporate entrepreneurship.

Accepted Answer

A) True 
 B)False

Question 6

Business risk taking refers to the risk associated with entering untested markets or committing to unproven technologies.

Accepted Answer

A) True 
 B)False

Question 7

Type of entry strategies include all of the following, except

Accepted Answer

A)   imitative.
B)   adaptive.
C)   pioneering.
D)   generic.E) B) and C)
F) A) and C)

Question 8

Which of the following refers to the independent action by an individual or team aimed at bringing forth a business concept or vision and carrying it through to completion?

Accepted Answer

A)   Proactiveness
B)   Risk taking
C)   Autonomy
D)   Competitive aggressivenessE) A) and B)
F) A) and C)

Question 9

Which of the following is not one of the characteristics of good opportunities?

Accepted Answer

A)   Attractive
B)   Achievable
C)   Value creating
D)   OpportunismE) B) and D)
F) All of the above

Question 10

Which kind of new entry strategy sometimes involves filling a market space where the need has not previously been filled adequately?

Accepted Answer

A)   Adaptive
B)   Imitative
C)   Pioneering
D)   Technological risk takingE) None of the above
F) B) and D)

Question 11

For an opportunity to be viable, it must be attractive, achievable, durable, and

Accepted Answer

A)   physically located.
B)   compelling.
C)   fun.
D)   value creating.E) C) and D)
F) B) and C)

Question 12

_____ are often associated with a low-cost leader strategy, whereas, _____ are frequently an important aspect of a differentiation strategy.

Accepted Answer

A)   Process innovations; product innovations
B)   Product innovations; service innovations
C)   Radical innovations; instrumental innovations
D)   Marketing innovations; management innovationsE) B) and C)
F) A) and C)

Question 13

The innovation dilemma known as seeds versus weeds refers to

Accepted Answer

A)   choosing to pursue radical rather than incremental innovations.
B)   choosing to pursue product rather than process innovations.
C)   promoting organizational stars onto innovation teams rather than involving all employees in innovation efforts.
D)   choosing which innovation ideas are most likely to "bear fruit."E) A) and B)
F) C) and D)

Question 14

Every idea developed by an entrepreneur represents a viable business opportunity.

Accepted Answer

A) True 
 B)False

Question 15

The term "strategic envelope" refers to the scope of a firm's innovation efforts.

Accepted Answer

A) True 
 B)False

Question 16

Incremental innovations

Accepted Answer

A)   are usually highly disruptive.
B)   usually represent technological breakthroughs.
C)   are usually small improvements in products or processes.
D)   nearly always can be patented.E) A) and C)
F) B) and C)

Question 17

The benefits gained by firms that are the first to enter new markets, establish brand identity, and/or adopt new technologies are known as

Accepted Answer

A)   competitive aggressiveness.
B)   technological capabilities.
C)   first mover advantages.
D)   breakthrough innovations.E) None of the above
F) A) and C)

Question 18

Which of the following innovation dilemmas refers to the decision that companies must make in terms of who will lead the project?

Accepted Answer

A)   Seeds versus Weeds
B)   Internal versus External Staffing
C)   Experience versus Initiative
D)   Incremental versus Pre-emptive LaunchE) A) and D)
F) B) and C)

Question 19

The discovery phase refers to the period when one becomes aware of a new business concept.

Accepted Answer

A) True 
 B)False

Question 20

Changes in the external environment spark innovative new ideas.

Accepted Answer

A) True 
 B)False

Exam 12: Managing Innovation and Fostering Entrepreneurship

Business risk taking refers to the risk associated with entering untested markets or committing to unproven technologies.

Correct AnswerverifiedShow Answer

Strategic renewal and the pursuit of new venture opportunities are the two primary aims of corporate entrepreneurship.

Correct AnswerverifiedShow Answer

Incremental innovations

Correct AnswerverifiedShow Answer

Which kind of new entry strategy sometimes involves filling a market space where the need has not previously been filled adequately?

Correct AnswerverifiedShow Answer

All of the following are questions that should be answered when evaluating the performance of corporate venturing efforts, except:

Correct AnswerverifiedShow Answer

All of the following statements about innovativeness are , except

Correct AnswerverifiedShow Answer

Which of the following innovation dilemmas refers to the decision that companies must make in terms of who will lead the project?

Correct AnswerverifiedShow Answer

The discovery phase refers to the period when one becomes aware of a new business concept.

Correct AnswerverifiedShow Answer

The term "innovations" refers primarily to inventions that use the latest technologies.

Correct AnswerverifiedShow Answer

Most new entrants use an adaptive strategy.

Correct AnswerverifiedShow Answer

Type of entry strategies include all of the following, except

Correct AnswerverifiedShow Answer

For an opportunity to be viable, it must be attractive, achievable, durable, and

Correct AnswerverifiedShow Answer

Changes in the external environment spark innovative new ideas.

Correct AnswerverifiedShow Answer

Which of the following is not one of the characteristics of good opportunities?

Correct AnswerverifiedShow Answer

Which of the following refers to the independent action by an individual or team aimed at bringing forth a business concept or vision and carrying it through to completion?

Correct AnswerverifiedShow Answer

Every idea developed by an entrepreneur represents a viable business opportunity.

Correct AnswerverifiedShow Answer

The benefits gained by firms that are the first to enter new markets, establish brand identity, and/or adopt new technologies are known as

Correct AnswerverifiedShow Answer

_____ are often associated with a low-cost leader strategy, whereas, _____ are frequently an important aspect of a differentiation strategy.

Correct AnswerverifiedShow Answer

The term "strategic envelope" refers to the scope of a firm's innovation efforts.

Correct AnswerverifiedShow Answer

The innovation dilemma known as seeds versus weeds refers to

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

_ are often associated with a low-cost leader strategy, whereas, _ are frequently an important aspect of a differentiation strategy.

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified