Podcast
Questions and Answers
What is the definition of entrepreneurship?
What is the definition of entrepreneurship?
- The creation of a small business for the purpose of personal fulfillment
- The creation of a new product for the purpose of market growth
- The creation of an innovative organization for the purpose of economic gain or growth under conditions of risk or uncertainty (correct)
- The creation of a new business for personal gain
Who are the stakeholders that can influence decision making in an organization?
Who are the stakeholders that can influence decision making in an organization?
- Only customers and investors
- Only customers and regulatory agencies
- Only employees and investors
- Multiple stakeholders with power such as customers, investors, employees, unions, suppliers, regulatory agencies, competitors, and legislative bodies (correct)
What is the importance of recognizing organizational politics?
What is the importance of recognizing organizational politics?
- It only applies to large organizations
- It is a natural part of any enterprise and should be understood and navigated (correct)
- It is a bad thing and should be avoided
- It is a necessary evil that can be ignored
What is the focus of corporate-level strategy?
What is the focus of corporate-level strategy?
What is the purpose of resource allocation in an organization?
What is the purpose of resource allocation in an organization?
What is diversification strategy?
What is diversification strategy?
What is competitive advantage?
What is competitive advantage?
What are the common components of entrepreneurship?
What are the common components of entrepreneurship?
What is a common pitfall in problem definition, according to the text?
What is a common pitfall in problem definition, according to the text?
What is the main difference between the classical economist's approach and the satisficing idea?
What is the main difference between the classical economist's approach and the satisficing idea?
What is one way to raise the level of satisficing, according to the text?
What is one way to raise the level of satisficing, according to the text?
What is a consequence of inadequate problem definition?
What is a consequence of inadequate problem definition?
What is a characteristic of the satisficing approach?
What is a characteristic of the satisficing approach?
What is a pitfall of limited search for alternatives, according to the text?
What is a pitfall of limited search for alternatives, according to the text?
What is a consequence of limited information, according to the text?
What is a consequence of limited information, according to the text?
What is a characteristic of bounded rationality, according to the text?
What is a characteristic of bounded rationality, according to the text?
What is a key aspect of resource allocation in formulating plans and strategies?
What is a key aspect of resource allocation in formulating plans and strategies?
What is the primary goal of diversification strategies?
What is the primary goal of diversification strategies?
Which of the following is an example of a corporate-level strategy?
Which of the following is an example of a corporate-level strategy?
What is the primary focus of business-level strategy?
What is the primary focus of business-level strategy?
What is the role of budgets in resource allocation?
What is the role of budgets in resource allocation?
What is the primary goal of a company's strategy for growth?
What is the primary goal of a company's strategy for growth?
What is the primary focus of a company's diversification strategy?
What is the primary focus of a company's diversification strategy?
What is the key aspect of formulating plans and strategies according to Michael Porter?
What is the key aspect of formulating plans and strategies according to Michael Porter?
What is the primary purpose of a financial component in a business plan?
What is the primary purpose of a financial component in a business plan?
What is the primary goal of innovation initiatives in established firms?
What is the primary goal of innovation initiatives in established firms?
What type of risks should be considered in the potential critical-risks component of a business plan?
What type of risks should be considered in the potential critical-risks component of a business plan?
Who is a corporate entrepreneur?
Who is a corporate entrepreneur?
What is the purpose of a milestone schedule component in a business plan?
What is the purpose of a milestone schedule component in a business plan?
What is a key factor favoring a global start-up?
What is a key factor favoring a global start-up?
What is the primary focus of strategic planning?
What is the primary focus of strategic planning?
What is the purpose of contingency planning?
What is the purpose of contingency planning?
What is a key recommendation for a successful family business?
What is a key recommendation for a successful family business?
What is the primary goal of diversification strategies?
What is the primary goal of diversification strategies?
What is corporate entrepreneurship?
What is corporate entrepreneurship?
What is the key benefit of a generic competitive strategy?
What is the key benefit of a generic competitive strategy?
What is the primary purpose of a business plan?
What is the primary purpose of a business plan?
What is a key benefit of using outside advisors or directors in a family business?
What is a key benefit of using outside advisors or directors in a family business?
What is the primary task of the strategic business-level planning process?
What is the primary task of the strategic business-level planning process?
What is the purpose of allocating resources in strategic planning?
What is the purpose of allocating resources in strategic planning?
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