An organization wanting to establish a more entrepreneurial firm must implement a procedure for its creation. Identify and briefly explain the first three steps of the process.
What will be an ideal response?
The first step in this process is to secure a commitment to corporate entrepreneurship in the organization by top and middle management levels. Without top management commitment, the organization will never be able to go through all the cultural changes necessary for implementation.
Second, ideas and general areas that top management is interested in supporting should be identified, along with the amount of risk money that is available to develop the concept further. It is also useful to establish overall program expectations and the target results of each corporate venture.
Third, a company needs to use technology to make itself more flexible. Small companies can compete against larger companies. Larger companies can make themselves responsive and flexible like smaller firms.
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Indicate whether the statement is true or false
Which channel and medium combination allows flexibility of multiple formats and channels but can be limited in terms of reach and capability?
A) Written, printed B) Written, digital C) Visual, printed D) Visual, digital E) Oral, digital
If a company failed to make the end-of-period adjustment to move the amount of management fees that were earned from the Unearned Management Fees account to the Management Fees Revenue account, this omission would cause:
A. An understatement of liabilities. B. An overstatement of net income. C. An overstatement of equity. D. An overstatement of assets. E. An overstatement of liabilities.
All manufacturing costs that are assigned to completed (but unsold) products should be classified as
A) materials inventory costs. B) cost of goods sold. C) work in process inventory costs. D) finished goods inventory costs.