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Exam 12: Managing Innovation and Fosteringcorporate Entrepreneurship

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Question 31

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What are product champions and why are they important to corporate entrepreneurship?

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Product champions are individuals within...

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Question 32

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The term innovation refers primarily to an invention that uses the latest technologies.

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Question 33

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______________ produce fundamental changes that can transform a company or even revolutionize an industry,while ______________ enhance existing practices and often represent evolutionary applications of fundamental breakthroughs.

Real options logic is useful when corporations consider stock options as a way to finance entrepreneurial ventures.

Product champions are critical during the period after a new venture project has been defined but before it has gained momentum and achieved project impetus.

Project ______________ involves justifying whether an opportunity is attractive in the marketplace; project ______________ involves evaluating the strategic and economic impact of a new venture.

Incremental innovations _____________.

Which of the following is not part of a culture of entrepreneurship?

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

Which of the following is not a dilemma faced by corporations trying to manage the innovation process?

What are the characteristics of a disruptive innovation? In what way is a disruptive innovation similar to and different than a radical innovation? What are the strategic implications of those differences and similarities?

Which kind of risk taking requires that a company borrow heavily or commit a large portion of its resources in order to grow?

Corporate entrepreneurship is sometimes called intrapreneurship.

According to the text,which of the following is not one of the methods companies can use to enhance their competitive position via innovativeness?

Innovation efforts of the firm rarely benefit from partnering with non-business entities such as universities and government agencies.

Whereas ______________ are willing to violate procedures and operate outside normal channels,______________ gather hard data and develop a strong case for why a project should be killed.

What is meant by the terms radical innovation and incremental innovation? Describe the advantages and disadvantages of each type of innovation and provide examples.

Aereo enters the broadcasting market with a new offer that streams the local broadcast signals to customers so that they can watch content on their PCs or tablet computers in real time or save for another viewing time.This is an example of disruptive innovation.

Discuss the five dimensions of entrepreneurial orientation.What are the benefits and risks associated with using each of these?

Business incubators are designed to support fledgling entrepreneurial ventures until they can operate as stand-alone businesses.