FiltersDone

Question type

Essay

Multiple Choice

Short Answer

True False

Matching

Exam 13: Strategic Entrepreneurship

Show Answer

Share

---

All types

Filters

Study FlashcardsPractice ExamLearn

Question 61

True/False

Review LaterAdd Note

Review Later

While both incremental and radical innovations can create value,incremental innovations have the potential to contribute more significantly to a firm's efforts to earn above-average returns.

Correct Answer

verified

Show Answer

Question 62

Multiple Choice

Review LaterAdd Note

Review Later

Which of the following is true? For firms to be entrepreneurial,they require a culture with

A) an emphasis on individualism in Western nations and an emphasis on collectivism in Eastern nations.
B) an exceptionally high level of collectivism.
C) a balance of individualism and collectivism.
D) an exceptionally high level of individualism.

Correct Answer

verified

Show Answer

Question 63

Multiple Choice

Review LaterAdd Note

Blixin Concrete Products,an established firm,is seeking a technologically advanced partner for a strategic alliance. If the potential partner is a new entrepreneurial venture,the main benefit the Blixin Concrete can offer is probably

While smaller firms must use cooperative strategies as a means of producing innovations,larger firms with large R&D units such as P&G and 3M can produce most if not all innovations internally.

Describe the three strategic approaches used to produce and manage innovation: internal corporate venturing,cooperative strategies,and acquisitions.

New entrepreneurial firms are better than larger established firms at

Research suggests that______is needed to encourage entrepreneurial behavior.

Define the three types of innovative activity. Which is the most critical activity for U.S. firms?

Firms develop innovations in all the following ways EXCEPT

An entrepreneurial mind-set,cross-functional product development teams,and shared values/leadership are the three ways that firms implement internal innovations.

is(are) critical in order for a firm to gain access to resources from partners in a cooperative alliance.

Joseph Schumpeter suggested that firms engage in three types of innovative activity when managing the innovation process: imitation,invention,and innovation.

According to Peter Drucker,the primary goal of innovation is to

Case Scenario 2: Compliance, Inc. Compliance, Inc. (CI)conducts clinical human and animal trials for the pharmaceutical and biotechnology industries. Revenues are split evenly between early and late drug development services and the firm is a leader in the laboratory technologies needed for such testing. One of CI's internal quality managers, Sharon Kline, has approached the CEO with a new business proposal. She would like to see the firm take one of its in-house software programs and develop it as a leading­edge commercial product for three specific target markets-medical care providers, payers of medical care, like insurance companies, and suppliers to medical care providers, like pharmaceutical companies. The features of the software are easy to use and include electronic distribution, data harvesting, and robust reporting capabilities. With this software Sharon believes that medical care providers will be able to collect data to market to and negotiate contracts with payers or employers, profile performance of individual physicians or practice sites, identify best clinical practices, generate reports that satisfy regulatory or accreditation requirements for provider sites, and supply professional societies with data for influencing payer and government policies. Another target market, insurance companies and other medical services payers, will be able to use the software to profile performance of individual physicians or practice sites, identify best clinical practices, generate reports that satisfy regulatory or accreditation requirements, and collect data to market to and negotiate contracts with employers. Finally, the software will allow suppliers to medical care providers to assess how products perform compared to competitor products, assess outcomes in real-world compared to clinical trial settings, obtain information on provider-specific practice patterns, determine whether products are being used correctly, get "face- time" with physicians and HMOs, obtain information on product switching behavior, offer providers a value-added service, and meet FDA post-marketing surveillance requirements. CI has never launched such a product before and, even if successful, software is a very different product than the clinical trials services it provides now. The CEO must determine how to build and manage this new business for CI. -(Refer to Case Scenario 2). Where does it appear that autonomous strategic behavior ends and induced strategic behavior begins in the software situation at CI?

Autonomous strategic behavior results in internal innovations that are highly consistent with the firm's current strategy.

Why have large pharmaceutical companies been forming alliances with biotechnology companies?

A innovation developed through autonomous strategic behavior will probably take the firm into new markets not addressed by its current strategy.

Induced strategic behavior as a form of internal innovation is a(n) ______ process.

The competition for resources among those representing different organizational functions within a firm often leads to

The risks of international entrepreneurship include all the following EXCEPT