Describe the five tendencies that determine entrepreneurial orientation.

What will be an ideal response?


Entrepreneurial orientation is determined by five tendencies:

1.    Independent action-The organization grants individuals and teams the freedom to exercise their creativity, champion promising ideas, and carry them through to completion.
2.    Innovativeness-The firm supports new ideas, experimentation, and creative processes that can lead to new products or processes; it is willing to depart from existing practices and venture beyond the status quo.
3.    Risk taking-The organization is willing to commit significant resources and perhaps borrow heavily, to venture into the unknown. The tendency to take risks can be assessed by considering whether people are bold or cautious, whether they require high levels of certainty before taking or allowing action, and whether they tend to follow tried-and-true paths.
4.    Proactiveness-The organization acts in anticipation of future problems and opportunities. A proactive firm changes the competitive landscape; other firms merely react. Proactive firms, like proactive individuals, are forward-thinking and fast to act, and are leaders rather than followers. Proactive firms encourage and allow individuals and teams to be proactive.
5.    Competitive aggressiveness-The firm tends to challenge competitors directly and intensely to achieve entry or improve its position. In other words, it has a competitive tendency to outperform its rivals in the marketplace. This might involve striking fast to beat competitors to the punch, tackle them head-to-head, and analyze and target competitors' weaknesses.

Business

You might also like to view...

The first step in planning a presentation is to determine _____

A) who is the audience B) how to achieve my desired outcome C) where the presentation will be given D) how the message will be delivered E) the purpose of the presentation

Business

Newspapers that have been embarrassed by plagiarism include the Washington Post, Boston Globe, and the New York Times

Indicate whether the statement is true or false

Business

Isaac Co sells merchandise on credit to Sonar Co in the amount of $9,600. The invoice is dated on April 15 with terms of 1/15, net 45. If Sonar Co chooses not to take the discount, by when should the payment be made?

A) April 30 B) May 30 C) May 15 D) April 25

Business

________ is the act of giving people additional tasks at the same time to alleviate boredom.

A. Task significance B. Task identity C. Job enrichment D. Job enlargement E. Social loafing

Business