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Exam 12: Managing Innovation and Fostering Corporate Entrepreneurship

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Question 1

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According to researchers from Drexel University and Rutgers University as presented in the Journal of Management, in industries that rely heavily on intellectual capital, such as technology, life sciences, or the arts, the loss of talented employees may have an unexpected benefit for the organization. While turnover of star scientists did disrupt innovation related to existing lines of research in the companies, it also increased the rate of innovation in previously unexplored areas. Companies adapt to the loss of talent by exploring products, brands, and methods they may not have otherwise considered. Which of the following statements is not a key takeaway from this research?

A) The loss of talented employees disrupts innovation related to established products.
B) The loss of talented employees allows fresh perspectives and ideas to emerge.
C) Companies adapt to star turnover by innovating in formerly unexplored areas.
D) Employee turnover broadly hurts an organization.

E) A) and B)
F) All of the above

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Question 2

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According to the text, ________, which support fledgling startups are often used to pursue specific entrepreneurial ventures developed by ________.

A) collaboration partners; strategic partners
B) business incubators; new venture groups
C) product champions; corporate venture capitalists
D) lower-level managers; upper-level managers

E) A) and B)
F) A) and C)

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Question 3

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What are new venture groups? What purpose do they serve? Are they more than a typical R&D department? Explain.

First movers in an industry often capture above-average profits but usually find it difficult to maintain early market share gains.

In corporations with a strong entrepreneurial culture, the willingness and ability to change

Which of the following is not an advantage of collaborating with strategic partners in order to innovate?

Michael Lazaridis got the idea for a wireless email device that led him to found Research in Motion, now called BlackBerry, from a conference he attended. At the conference, a speakerwasdiscussing a wireless system Coca-Cola was using that allowed vending machines to send a signal when they needed refilling. Lazaridis saw the opportunity to use the same concept with email communications, and the idea for the smartphone was hatched. This is an example of which innovator DNA trait?

________ refers to efforts to create designs and applications of technology to develop new products, while ________ refers to efforts to improve the efficiency of organizational systems such as manufacturing and operations.

One of the following is not a question that should be answered when evaluating the performance of corporate venturing efforts. Which is it?

One of the pitfalls of real options analysis is that managers may have an incentive and know-how to game the system and back-solve a formula to get a proposal approved. This can give riseto

Define the five dimensions of an entrepreneurial orientation and why are they important?

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

One of the following statements about innovativeness is false. Which is it?

Product champions

From watching his wife struggle to keep track of the family finances, Intuit founder Scott Cook identified the need for easy-to-use financial software that provided a single place formanaging bills, bank accounts, and investments. This is an example of which innovator DNA trait?

Which of the following do corporate business incubators typically not provide?

Some of the most common applications of real options are with property and insurance. A real estate option grants the holder the right to buy or sell a piece of property at an establishedprice sometime in the future. If the price of the property goes ________, the owner of the option is likely to buy it. If the market value of the property ________ the strike price, the option holder is unlikely to execute the purchase.

Product innovations are commonly associated with a differentiation strategy.

Pierre Omidyar saw the opportunity that led to eBay when he linked three items: (1) a personal fascination with creating more efficient markets, (2) the desire of his fiancée to locatehard-to-find collectible Pez dispensers, and (3) the ineffectiveness of local classified ads in locating such items. This is an example of which innovator DNA trait?

After 15 teams created 128 different phones, Chris Galvin, former CEO of Motorola, eliminated the autonomous teams being used to develop new wireless phones. This was necessary becausesuch teams