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Exam 13: Strategic Entrepreneurship

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Question 1

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In the chapter Strategic Focus, which of the following best characterizes Exxon-Mobil's approach to innovation?

A) the use of autonomous strategic behavior
B) the use of product champions
C) development of radical innovations
D) development of incremental innovations

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Question 2

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Cross-functional teams are useful in developing and commercializing new products because each team member brings his or her special competencies to the project. Each team member brings his/her point of view from his/his experience and background. On the other hand, these ____ may cause barriers to effective communication among team members.

A) independent frames of reference
B) entrepreneurial mind-sets
C) professional rivalries
D) politicized points of view

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Question 3

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Nokia and Intel have specific goals in the development of new products to support their strategies. Intel has had a strategic interest in the smartphone market, and Nokia is trying to overcome Apple's lead in this market with the iPhone. This is an example of

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

The risks of international entrepreneurship include all the following EXCEPT

The firm's culture promotes unity of purpose for cross-functional work teams through

Bill Kroganski is the owner of a moderately successful industrial services firm. His reaction to the introduction of a new process technology that could be a direct competitor to the process his firm utilizes is fear. He spends his time considering ways to isolate his firm from this new technology. Bill has characteristics consistent with the entrepreneurial mind-set.

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

Most large, complex firms innovate through cooperative strategies or strategic alliances, but not through internal activities.

The iPod likely resulted from autonomous strategic behavior at Apple, though the iPhone was more the result of induced strategic behavior.

New entrepreneurial firms are better than larger established firms at

Acquisitions are a low risk approach to producing and managing innovation.

Charles is a customer service representative for a home improvement store. He has creative ideas about how to increase customer satisfaction. Charles's talents will be most likely to be used in a firm that

According to the chapter Strategic Focus, innovation is the most critical factor in a nation's competitiveness over time.

Research has shown that internationally diversified firms are generally more innovative.

Isidore Security Services is a national provider of guard and security services for businesses. It has been in business for over 90 years, having been founded by one of Teddy Roosevelt's Rough Riders (Isidore O'Malley) . Lately it has been losing clients to more aggressive and innovative firms offering remote security monitoring systems instead of a guard-based approach. The board of directors of Isidore Security Services is concerned that this downward trend may threaten the existence of this venerable firm and the jobs of its employees.

Case Scenario: Bunnywac. Bunnywac is a global producer and seller of batteries for consumer electronics, and competes primarily by providing battery products equal in performance at a lower price. The worldwide battery industry suffers from issues of overcapacity and commoditization, brand segmentation and proliferation, the growing strength of global retailers, and the low-cost threat of new entrants from Asia. Bunnywac has grown quickly into one of the leading players in the battery industry primary through horizontal acquisitions, and is now counted among the top four companies in North and Latin America. Its presence in Europe and Latin America is negligible. A key factor in Bunnywac's rapid growth is its technology outsourcing arrangement with Mats. Mats is one of Japan's largest technology holding companies and Bunnywac's core battery technology is licensed from Mats. Bunnywac's license with Mats expires soon and it is concerned that Mats will not renew it, or will renew it only for a substantial price premium. Consequently, Bunnywac's CEO is exploring the possibility of developing its core technology in-house. -(Refer to the above Case Scenario ) Does Bunnywac's development of its core battery technology better fit the notion of autonomous or induced strategic behavior?

Through the work of cross-functional teams, product development stages are grouped into ____ processes.

Informal (often invisible) processes are best supported through ____ organizational structures.

Discuss the potential benefits and disadvantages of innovation through cooperative strategies.