Identify and briefly describe the four key elements of corporate entrepreneurship.
What will be an ideal response?
1. New business venturing: These entrepreneurial activities consist of creating something new of value either by redefining the company's current products or services, developing new markets, or forming more formally autonomous or semiautonomous units or firms.
2. Organizational innovativeness refers to product and service innovation. It includes new product development, product improvements, and new production methods and procedures.
3. Self-renewal is the transformation of an organization through the renewal of the key ideas on which it is built. Self-renewal includes a redefinition of the business concept, reorganization, and the introduction of system wide changes to increase innovation.
4. Proactiveness includes initiative and risk taking, as well as competitive aggressiveness and boldness, which are particularly reflected in the orientations and activities of top management. A proactive organization tends to take risks by conducting experiments; it also takes initiative and is bold and aggressive in pursuing opportunities. Organizations with this proactive spirit attempt to lead rather than follow competitors in such key business areas as the introduction of new products or services, operating technologies, and administrative techniques.
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The best ways to avoid faddish management ideas are to
A. understand your own core values, and use this knowledge to create or accept the core values of your company. B. adopt management by consensus and business process reengineering. C. adopt MBO and TQM. D. emphasize employee diversity and expand the business's operations globally. E. implement a six-sigma quality system and manage by "walking around."
An example of communicating category membership by relying on the product descriptor is Ford's positioning of its Freestyle automobile, which combines the attributes of an SUV, a minivan, and a station wagon, as a "sports wagon."
Indicate whether the statement is true or false
The mission statement articulates ______.
a. the organization’s market position b. the organization’s purpose and reason for existence c. the organization’s hopes for the future d. the organization’s five-year plan
The Department of Defense communications operation includes more than 3,000 communicators in the Army
Indicate whether the statement is true or false