Corporate Entrepreneurship Overview
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Questions and Answers

How many books or their editions has Professor Hisrich authored or coauthored?

  • 50
  • 41 (correct)
  • 30
  • 25

    • Which subject does Veland Ramadani teach at South-East European University?

  • Marketing
  • Entrepreneurship (correct)
  • Finance
  • Economics

    • What is one of the research interests of Veland Ramadani?

  • Digital Marketing
  • Consumer Behavior
  • Venture Capital Investments (correct)
  • Artificial Intelligence

    • Which book was authored by Veland Ramadani?

    <p>Entrepreneurship and Management in an Islamic Context</p> Signup and view all the answers

    In what year did Dr. Ramadani receive the Award for Excellence?

    <p>2016</p> Signup and view all the answers

    Which journal does Veland Ramadani serve as an Associate Editor?

    <p>International Journal of Entrepreneurship and Small Business</p> Signup and view all the answers

    How many research articles has Veland Ramadani authored or coauthored?

    <p>Eighty</p> Signup and view all the answers

    Which of the following topics is NOT mentioned as a research interest of Veland Ramadani?

    <p>Digital Entrepreneurship</p> Signup and view all the answers

    What is corporate entrepreneurship primarily concerned with?

    <p>Pursuing opportunities independent of controlled resources</p> Signup and view all the answers

    Which companies are known for experiencing significant success in corporate entrepreneurship?

    <p>IBM, 3M, and Apple</p> Signup and view all the answers

    What is required for effective corporate entrepreneurship within an organization?

    <p>Encouragement of entrepreneurial thinking and flexibility</p> Signup and view all the answers

    What does the term 'renewal' in corporate entrepreneurship refer to?

    <p>Creating new products and processes through resource redeployment</p> Signup and view all the answers

    What can internal generation of innovation be influenced by?

    <p>Organizational culture and external competition</p> Signup and view all the answers

    What are the two major phenomena encompassed by corporate entrepreneurship?

    <p>New venture creation and strategic renewal</p> Signup and view all the answers

    How does corporate entrepreneurship aim to improve a company's situation?

    <p>By enhancing competitive position and financial performance</p> Signup and view all the answers

    What is the primary role of motivated individuals within corporate entrepreneurship?

    <p>To initiate new projects and seek innovative solutions</p> Signup and view all the answers

    What characteristic of public sector organizations can inhibit entrepreneurial behavior among employees?

    <p>Strong hierarchical structure</p> Signup and view all the answers

    How did Lee Kuan Yew approach economic development for Singapore?

    <p>Through an aggressive focus on attracting foreign direct investment</p> Signup and view all the answers

    What is a common challenge faced by both public sector organizations and large corporations?

    <p>Competing demands from stakeholder groups</p> Signup and view all the answers

    What is one reason why public sector organizations are increasingly encouraged to foster entrepreneurial thinking?

    <p>To meet the changing demands of the global environment</p> Signup and view all the answers

    What role does ‘public managerialism’ play in public sector entrepreneurship?

    <p>It encourages innovation and challenges old mindsets</p> Signup and view all the answers

    How do public sector managers typically differ from corporate managers in their focus?

    <p>They prioritize internal developments over process</p> Signup and view all the answers

    What can be a result of the bureaucratic nature of government organizations?

    <p>Reduced levels of creativity among employees</p> Signup and view all the answers

    What similarity exists between public sector entrepreneurship and corporate entrepreneurship?

    <p>Both face entrenched organizational cultures</p> Signup and view all the answers

    What type of entrepreneurship did Jaconet Brunette demonstrate by opening a beauty salon?

    <p>Private sector entrepreneurship</p> Signup and view all the answers

    What was one reason Jaconet decided to sell the Hatfield branch?

    <p>She wanted to focus on her Menlyn salon's performance.</p> Signup and view all the answers

    How many employees did Jaconet have at her Menlyn salon after three years?

    <p>Four employees</p> Signup and view all the answers

    What is the primary purpose of writing a business plan?

    <p>To obtain financing</p> Signup and view all the answers

    What challenge did Jaconet face at the Hatfield branch?

    <p>Ineffective management by her appointed employee</p> Signup and view all the answers

    What was the result of Jaconet's exhibition visit in London?

    <p>She identified products for import to benefit her franchise.</p> Signup and view all the answers

    Which of the following is NOT a purpose of a business plan?

    <p>Evaluate personal management style</p> Signup and view all the answers

    What should be carefully crafted in a business plan to increase the chances of obtaining investment?

    <p>The executive summary</p> Signup and view all the answers

    What financial issue did Jaconet face after importing products for her franchise?

    <p>She required additional financing from the bank.</p> Signup and view all the answers

    What is meant by 'enterprise capital' in the context of a business plan?

    <p>External financing required to launch a venture</p> Signup and view all the answers

    What was Jaconet’s attitude toward opening another branch after her experience with Hatfield?

    <p>She was indifferent and preferred to maintain her current business.</p> Signup and view all the answers

    Why is it important to evaluate the results of a venture according to the business plan?

    <p>To understand the venture's success or failure</p> Signup and view all the answers

    Which of the following statements accurately reflects Jaconet's experience with her second salon?

    <p>The Hatfield branch consistently struggled to attract customers.</p> Signup and view all the answers

    What aspect of resources is critical to address in a business plan?

    <p>Determining existing resources</p> Signup and view all the answers

    How does a business plan assist in the decision-making process for entrepreneurs?

    <p>Evaluates various strategic opportunities and directions</p> Signup and view all the answers

    Which of the following correctly frames a purpose regarding suppliers in a business plan?

    <p>Identifying potential suppliers and developing an approach for them</p> Signup and view all the answers

    Study Notes

    Professor Hisrich and Veland Ramadani

    • Professor Hisrich has authored or coauthored 41 books or their editions.
    • Veland Ramadani is an Associate Professor at South-East European University.
    • Ramadani has authored or coauthored around eighty research articles and fifteen books.

    Corporate Entrepreneurship

    • Also known as intrapreneurship or corporate venturing.
    • The process where individuals inside organizations pursue opportunities.
    • Involves doing new things and pursuing new opportunities.
    • Is the spirit of entrepreneurship within an existing organization.
    • Requires engendering entrepreneurial behaviors within an established organization.
    • Emphasizes new venture creation within existing organizations and the transformation of organizations through strategic renewal.
    • The ultimate aim of the renewal is to improve a company’s competitive position and financial performance.
    • Achieved through the redefinition of an organization's mission through the creative redeployment of resources.

    Public Sector Entrepreneurship

    • Public sector organizations often face somewhat guaranteed sources and levels of financing.
    • Governments are increasingly looking to foster entrepreneurial thinking and activity.
    • They are emphasizing new “public managerialism” and discontinuous reforms that challenge traditional mindsets.
    • Public sector entrepreneurship is similar to some extent to entrepreneurship in large corporations - corporate entrepreneurship.

    Entrepreneurial Business Planning

    • The most frequent reason for writing a business plan is to obtain financing.
    • A business plan can also be used to determine all the resources needed.
    • Also provides a direction for the new venture.
    • Lastly it can be used to evaluate the results of the venture.

    Case Study

    • Jaconet Brunette opened a beauty salon in Menlyn shopping center in Pretoria.
    • She opened a second salon in Hatfield, Pretoria.
    • She decided to sell the Hatfield branch after 3 years because it did not seem to grow at all.

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    Effective Entrepreneurial Management PDF

    Description

    Explore the concept of corporate entrepreneurship, also known as intrapreneurship or corporate venturing. This quiz delves into how individuals within organizations pursue new opportunities, fostering entrepreneurial spirit and driving strategic renewal to enhance competitive positioning. Test your understanding of the principles and practices that define corporate entrepreneurship.

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