Question 1

The 3M Corporation,one of the most highly innovative companies,uses corporate venturing activities to promote innovation.An advantage of this approach is that

Accepted Answer

A)   the ability to change is considered a core capability.
B)   new ideas are not well received.
C)   employees have to be constantly reminded to think entrepreneurially.
D)   employees are not willing to change.E) None of the above
F) A) and B)

Question 2

In general,radical innovations occur quickly and incremental innovations take a long time to develop.

Accepted Answer

A) True 
 B)False

Question 3

The term "strategic envelope" refers to the scope of a firm's innovation efforts.

Accepted Answer

A) True 
 B)False  True

Question 4

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

Accepted Answer

A)   Technological breakthroughs; product-market breakthroughs
B)   New technologies; new paradigms
C)   Incremental innovations; radical innovations
D)   Radical innovations; incremental innovationsE) A) and B)
F) A) and C)

Question 5

Which of the following is not one of the characteristics of good opportunities?

Accepted Answer

A)   Attractive
B)   Achievable
C)   Value creating
D)   OpportunismE) A) and B)
F) None of the above

Question 6

Pioneering involves creating new ways to solve old problems or meeting customers' needs in a unique new way.

Accepted Answer

A) True 
 B)False

Question 7

The term "innovations" refers primarily to inventions that use the latest technologies.

Accepted Answer

A) True 
 B)False

Question 8

Venture capital is

Accepted Answer

A)   a form of private equity
B)   available only at the start-up stage
C)   a form of human capital
D)   a form of angel investingE) All of the above
F) A) and C)

Question 9

The innovation dilemma known as seeds versus weeds refers to

Accepted Answer

A)   choosing to pursue radical rather than incremental innovations.
B)   choosing to pursue product rather than process innovations.
C)   promoting organizational stars onto innovation teams rather than involving all employees in innovation efforts.
D)   none of these are correctE) A) and B)
F) B) and C) D

Question 10

The innovation dilemma known as building capabilities versus collaborating refers to

Accepted Answer

A)   developing innovation skills internally versus partnering with qualified outsiders.
B)   building innovative products in-house versus outsourcing.
C)   building credibility by launching products ahead of potential collaboration partners.
D)   all of these are correctE) A) and B)
F) A) and C)

Question 11

Most new entrants use an adaptive strategy.

Accepted Answer

A) True 
 B)False

Question 12

Incremental innovations

Accepted Answer

A)   are usually highly disruptive.
B)   usually represent technological breakthroughs.
C)   are usually small improvements in products or processes.
D)   nearly always can be patented.E) A) and D)
F) B) and C)

Question 13

_____ refers to efforts to create designs and applications of technology to develop new products; _____ refers to efforts to improve the efficiency of organizational systems such as manufacturing and operations.

Accepted Answer

A)   Radical innovation; incremental innovation
B)   Breakthrough innovation; instrumental innovation
C)   Product innovation; process innovation
D)   Product innovation; service innovationE) A) and C)
F) A) and B)

Question 14

According to the text,in addition to financial resources,young firms often need the following resources except

Accepted Answer

A)   social capital.
B)   logistics support.
C)   human capital.
D)   government resources.E) None of the above
F) B) and C)

Question 15

One of the key factors that makes it difficult for new ventures to be successful as differentiator is

Accepted Answer

A)   strategic renewal.
B)   internal development is challenging.
C)   mergers and acquisitions are a threat.
D)   enacting HYPERLINK "" the strategy is expensive.E) None of the above
F) B) and C)

Question 16

The discovery phase refers to the period when one becomes aware of a new business concept.

Accepted Answer

A) True 
 B)False

Question 17

Which kind of new entry strategy sometimes involves filling a market space where the need has not previously been filled adequately?

Accepted Answer

A)   Adaptive
B)   Imitative
C)   Pioneering
D)   Technological risk takingE) A) and D)
F) B) and D)

Question 18

Radical innovation often involves open-ended experimentation which can be very time consuming.

Accepted Answer

A) True 
 B)False

Question 19

Rogers may be known as a company involved in cell phones and cable TV but it was once the leading manufacturer of radios in Canada and the U.S.

Accepted Answer

A) True 
 B)False  True

Question 20

Outline the five dilemmas that companies must wrestle with when pursuing innovation.

Accepted Answer

Seeds versus weeds-which ideas are worth...

Exam 12: Managing Innovation and Fostering Corporate Entrepreneurship

The 3M Corporation,one of the most highly innovative companies,uses corporate venturing activities to promote innovation.An advantage of this approach is that

Correct AnswerverifiedShow Answer

In general,radical innovations occur quickly and incremental innovations take a long time to develop.

Correct AnswerverifiedShow Answer

The term "strategic envelope" refers to the scope of a firm's innovation efforts.

Correct AnswerverifiedTrue

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

Correct AnswerverifiedShow Answer

Which of the following is not one of the characteristics of good opportunities?

Correct AnswerverifiedShow Answer

Pioneering involves creating new ways to solve old problems or meeting customers' needs in a unique new way.

Correct AnswerverifiedShow Answer

The term "innovations" refers primarily to inventions that use the latest technologies.

Correct AnswerverifiedShow Answer

Venture capital is

Correct AnswerverifiedShow Answer

The innovation dilemma known as seeds versus weeds refers to

Correct AnswerverifiedD

The innovation dilemma known as building capabilities versus collaborating refers to

Correct AnswerverifiedShow Answer

Most new entrants use an adaptive strategy.

Correct AnswerverifiedShow Answer

Incremental innovations

Correct AnswerverifiedShow Answer

_____ refers to efforts to create designs and applications of technology to develop new products; _____ refers to efforts to improve the efficiency of organizational systems such as manufacturing and operations.

Correct AnswerverifiedShow Answer

According to the text,in addition to financial resources,young firms often need the following resources except

Correct AnswerverifiedShow Answer

One of the key factors that makes it difficult for new ventures to be successful as differentiator is

Correct AnswerverifiedShow Answer

The discovery phase refers to the period when one becomes aware of a new business concept.

Correct AnswerverifiedShow Answer

Which kind of new entry strategy sometimes involves filling a market space where the need has not previously been filled adequately?

Correct AnswerverifiedShow Answer

Radical innovation often involves open-ended experimentation which can be very time consuming.

Correct AnswerverifiedShow Answer

Rogers may be known as a company involved in cell phones and cable TV but it was once the leading manufacturer of radios in Canada and the U.S.

Correct AnswerverifiedTrue

Outline the five dilemmas that companies must wrestle with when pursuing innovation.

Correct AnswerverifiedSeeds versus weeds-which ideas are worth...View AnswerShow Answer

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

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D

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_ refers to efforts to create designs and applications of technology to develop new products; _ refers to efforts to improve the efficiency of organizational systems such as manufacturing and operations.

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Seeds versus weeds-which ideas are worth...
View Answer