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Exam 12: Managing Innovation and Fostering Corporate Entrepreneurship

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Question 1

Multiple Choice

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

A) It refers to making decisions and taking risks without certain knowledge of probable outcomes.
B) It refers to efforts of a firm 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) C) and D)

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Question 2

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In evaluating the effectiveness of the venturing initiatives of a corporation, marketplace acceptance of the new products or services needs to be assessed.

A) True
B) False

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Question 3

Multiple Choice

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Individuals with highly innovative DNA traits have the ability to connect seemingly unrelated questions, problems, and ideas from different fields that allows them the opportunity to creatively see opportunities others miss. This is referred to as

For innovation projects, people from inside the company may have greater social capital and know the organizational culture, but this may inhibit them from thinking creatively.

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 established price 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.

Whereas _________ often emerge as heroes, _________ run the risk of losing status by opposing popular projects.

Only about 50 percent of corporate venturing efforts reach profitability within six years of their launch.

Microsoft has difficulty increasing its innovativeness. One of the challenges has been that the conservatism of the culture of the firm has led to a focus on _____________ over innovation.

The Taco Bell Waffle Taco was the result of a team development effort. This is an example of a new venture group (NVG) identifying, evaluating, and cultivating a venture opportunity.

Fostering creativity and experimentation is the only innovativeness technique that company managers should consider when identifying and launching corporate ventures.

Real options analysis is most appropriate when

Product innovations are commonly associated with a differentiation strategy.

A strategic decision can contain embedded options, which is a _________ of investments in which at each stage of the investment there is ______ decision.

Real options analysis helps managers make investment decisions involving large irreversible commitments of financial resources.

Real options analysis (ROA) is an investment analysis tool from the field of finance. When applied to entrepreneurship, it suggests a path that companies can use to manage the _____ associated with launching ______ ventures.

Sustaining innovations are those that overturn markets by providing an altogether new approach to meeting customer needs.

Exit champions are often reluctant to gather hard data about a venture because it might kill the project.

Two common forms of a focused approach to corporate entrepreneurship include ______________ and _____________.

Radical innovations

Competitive aggressiveness is a response to threats whereas proactiveness is a response to opportunities.