Entrepreneurship and Innovation Review
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Course Introduction
This course explores the fundamental concepts of entrepreneurship and innovation, focusing on the process of identifying, evaluating, and developing new business opportunities. Students will examine the characteristics and mindset of successful entrepreneurs, strategies for ideation and market analysis, and the role of innovation in creating competitive advantage. Emphasis is placed on practical tools for business model development, resource acquisition, team building, and overcoming challenges faced by startups. Through case studies, real-world projects, and interactive discussions, students will gain foundational knowledge and skills to launch and manage successful entrepreneurial ventures in a dynamic business environment.
Recommended Textbook
Strategic Management and Business Policy Globalization Innovation and Sustainablility 14th Edition
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12 Chapters 1254 Verified Questions
1254 Flashcards
Source URL: https://quizplus.com/study-set/2122 Page 2
Chapter 1: Basic Concepts in Strategic Management
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106 Verified Questions
106 Flashcards
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Sample Questions
Q1) Members of the European Union (EU)include all of the following EXCEPT
A) Ireland.
B) Malaysia.
C) Belgium.
D) France.
E) Slovakia.
Answer: B
Q2) Which one of the following is included in the firm's societal environment?
A) competitors
B) economic forces
C) resources
D) governments
E) special interest groups
Answer: B
Q3) As more industries become global, strategic management is becoming less important in positioning a company for long-term competitive advantage.
A)True
B)False
Answer: False
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Page 3
Chapter 2: Corporate Governance
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97 Verified Questions
97 Flashcards
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Sample Questions
Q1) The theory which states that problems arise in corporations because top management no longer is willing to bear the brunt of their decisions unless they own a substantial amount of stock in the corporation is called
A) codetermination.
B) agency theory.
C) interlocking management theory.
D) strategic leadership theory.
E) ownership theory.
Answer: B
Q2) Explain the difference between a direct and indirect interlocking directorate. Answer: A direct interlocking directorate occurs when two firms share a director or when an executive of one firm sits on the board of a second firm.An indirect interlock occurs when two corporations have directors who also serve on the board of a third firm.
Q3) Transformational leaders transform their organizations from market leaders in one industry to market leadership in another.
A)True
B)False
Answer: False
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4
Chapter 3: Ethics and Social Responsibility in Strategic Management
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97 Verified Questions
97 Flashcards
Source URL: https://quizplus.com/quiz/42290
Sample Questions
Q1) As societal values evolve, it is likely that the ________ responsibilities of today may become the ________ responsibilities to tomorrow.
A) economic; ethical
B) legal; ethical
C) discretionary; ethical
D) discretionary; economic
E) legal; discretionary
Answer: C
Q2) "When in Rome, do as the Romans do" reflects which type of moral relativism?
A) naive relativism
B) role relativism
C) principled relativism
D) cultural relativism
E) social group relativism
Answer: D
Q3) The broader concept of sustainability is closely aligned with Carroll's view of social responsibility.
A)True
B)False
Answer: True
Page 5
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Chapter 4: Environmental Scanning and Industry Analysis
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116 Verified Questions
116 Flashcards
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Sample Questions
Q1) Other software companies could not compete with Microsoft based on the hesitation of consumers to try a new software.Which of Porter's forces does this reflect?
A) exit barriers
B) bargaining power of buyers
C) threat of substitutes
D) bargaining power of suppliers
E) rivalry among existing firms
Q2) In dynamic environments, the CEO's focus is on forces in the societal environment.
A)True
B)False
Q3) Which of the following is NOT one of the general strategic types according to Miles and Snow?
A) initiators
B) reactors
C) analyzers
D) prospectors
E) defenders
Q4) Distinguish between a fragmented and consolidated industry.
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Page 6
Chapter 5: Internal Scanning and Organizational Analysis
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109 Verified Questions
109 Flashcards
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Sample Questions
Q1) Which of the following terms best describes a system in which items are normally processed sequentially, but the work and sequence of the process vary?
A) continuous system
B) debt capacity
C) chronological processing
D) operating leverage
E) intermittent system
Q2) What are the two distinct attributes of corporate culture?
A) differentiation and integration
B) durability and imitability
C) concern for people and concern for task
D) intensity and integration
E) amount of complexity and tolerance of change
Q3) Which of the following is NOT a support activity of the value chain?
A) procurement
B) technology development
C) human resource management
D) marketing and sales
E) strategic planning
Q4) Describe Barney's VRIO framework.
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Chapter 6: Strategy Formulation: Situation Analysis and Business Strategy
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104 Verified Questions
104 Flashcards
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Sample Questions
Q1) In a TOWS Matrix, WT Strategies
A) are generated by thinking of ways in which a company or business unit could use its strengths to take advantage of opportunities.
B) attempt to take advantage of opportunities by overcoming weaknesses.
C) are basically defensive and primarily act to minimize weaknesses and avoid threats.
D) consider a company's or unit's strengths as a way to avoid threats.
E) are ways to get strategists to think "out of the box."
Q2) Rollups are not synonymous with traditional mergers and acquisitions. A)True B)False
Q3) In a TOWS Matrix, SO Strategies
A) are generated by thinking of ways in which a company or business unit could use its strengths to take advantage of opportunities.
B) attempt to take advantage of opportunities by overcoming weaknesses.
C) are basically defensive and primarily act to minimize weaknesses and avoid threats.
D) consider a company's or unit's strengths as a way to avoid threats.
E) are ways to get strategists to think "out of the box."
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Page 8
Chapter 7: Strategy Formulation: Corporate Strategy
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103 Verified Questions
103 Flashcards
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Sample Questions
Q1) Which kind of corporate strategy deals with the manner in which the firm coordinates activities and builds corporate synergies through resource sharing and development?
A) portfolio strategy
B) directional strategy
C) parenting strategy
D) cooperative strategy
E) functional strategy
Q2) An example of forward quasi-integration would be a large pharmaceutical firm that acquires part interest in a drugstore chain in order to guarantee that its drugs have access to the distribution channel.
A)True
B)False
Q3) According to the BCG Growth Share Matrix, the key to success with this model is A) effective management.
B) competitive positioning.
C) innovative initiative.
D) industry leadership.
E) market share.
Q4) What are the more popular options for international entry?
Page 9
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Chapter 8: Strategy Formulation: Functional Strategy and Strategic Choice
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105 Verified Questions
105 Flashcards
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Sample Questions
Q1) What is a corporate scenario? What are the three steps in their construction?
Q2) Equity financing is preferred for unrelated diversification while debt financing is preferred for related diversification.
A)True
B)False
Q3) Logistics strategy deals with the flow of products into and out of the manufacturing process.
A)True
B)False
Q4) The purchasing strategy used by an automobile manufacturer when it orders seats for a specific car model from several vendors is
A) sole sourcing.
B) multiple sourcing.
C) just-in-time sourcing.
D) backup sourcing.
E) parallel sourcing.
Q5) What are the strategies to avoid proposed by the authors?
Q6) Distinguish between a market development and a product development strategy.
Q7) What is a functional strategy?
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Chapter 9: Strategy Implementation: Organizing for Action
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108 Verified Questions
108 Flashcards
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Sample Questions
Q1) Which of the following is NOT an offensive tactic?
A) frontal assault
B) flanking maneuver
C) guerilla warfare
D) raising structural barriers
E) encirclement
Q2) Which structure is described as a "non-structure" by its virtual elimination of inhouse business functions?
A) strategic business units
B) functional structure
C) network structure
D) divisional structure
E) matrix structure
Q3) Who typically implements strategy in large, multi-industry corporations?
A) the board of directors
B) top management
C) middle management
D) first level management
E) everyone in the organization
Q4) What are the four stages of corporate development?
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Chapter 10: Strategy Implementation: Staffing and Directing
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107 Verified Questions
107 Flashcards
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Sample Questions
Q1) Successful defender firms tend to be headed by CEOs with backgrounds in the areas of
A) research/engineering and general management.
B) accounting/finance, manufacturing/production, and general management.
C) marketing/sales.
D) human resources and strategy.
E) purchasing and logistics.
Q2) What is executive succession? Discuss the hiring of insiders versus outsiders.
Q3) According to Hofstede, which cultural dimension describes the extent to which society is oriented toward money and things or towards people?
A) uncertainty avoidance
B) masculinity-femininity
C) individualism-collectivism
D) power distance
E) long-term orientation
Q4) An essential ingredient of MBO is that an employee must be just as concerned with pleasing the internal customer as the external customer.
A)True
B)False
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Chapter 11: Evaluation and Control
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105 Verified Questions
105 Flashcards
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Sample Questions
Q1) Which method of matching rewards to the accomplishment of strategic objectives encourages executives to look at developmental expenses as being different from those expenses required for current operations?
A) strategic-funds method
B) segmentation method
C) long-term evaluation method
D) individual evaluation method
E) weighted-factor method
Q2) Which type of control specifies how something is to be done through policies, rules, standard operating procedures, and orders from a superior?
A) tactical control
B) strategic control
C) output control
D) behavior control
E) functional control
Q3) The multi-domestic MNC and the global MNC should use loose controls on its foreign units.
A)True
B)False
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Page 13
Chapter 12: Suggestions for Case Analysis
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97 Verified Questions
97 Flashcards
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Sample Questions
Q1) Which financial ratio measures the utilization of all of the company's assets?
A) days of inventory
B) asset turnover
C) inventory turnover
D) fixed asset turnover
E) average collection period
Q2) Which financial indicator is calculated by the ratio of market price per share to earnings per share?
A) return on investment
B) price/earnings ratio
C) return on equity
D) dividend yield on common stock
E) dividend payout ratio
Q3) The public interest rate is the rate of interest banks charge on their lowest risk loans.
A)True
B)False
Q4) What ratios are recommended for financial ratio analysis?
Q5) In performing a basic financial analysis, what five steps should be taken?
Q6) What is the Z-value?
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