Organizing strategy and entrepreneurship Study guides, Class notes & Summaries

A(n) _____ creates something new - ANSWER-an inventor Established firms with an orientation toward acting entrepreneurially practice _____ - ANSWER-corporate entrepreneurship The word "entrepreneur" was originally used to describe people who "_______" between buyers and sellers. - ANSWER-take on the risk (key element of what entrepreneurs do) An entrepreneur assembles and then integrates all the resources needed to transform an invention into a viable business. Which of the followin...

Test Bank Principles of Management by OpenStax. Isbn. 9781593998769. Principles of Management by Anastasia Cortes, Jason Lambert, David Bright. Contents:=Chapter 1  Managing and Performing Introduction 1.1 What Do Managers Do? 1.2 The Roles Managers Play 1.3 Major Characteristics of the Manager's Job Key Terms Summary of Learning Outcomes Chapter Review Questions Management Skills Application Exercises Managerial Decision Exercises Critical Thinking Case Chapter 2  Manageria...

WGU C483 Practice Test 2 1.)The planning level with the shortest time horizon is known as _____ planning. A)operational B)tactical C)managerial D)developmental E)vertical Ans: A.) Operational 2.)The planning process is similar to the _____ process in that both have a series of steps that are typically repeated in a cycle. A)strategy-mapping B)tactical alignment C)goal-setting D)decision-making E)environmental analysis Ans: D.) Decision-making 3.)In a SWOT analysis, the absence...

MNG3701_Study Notes. Strategic Management. Managers should realize they have an influence they can influence the competitive landscape. They need to start with a point of view of how the world can be, not how to improve what is available but rather how to alter it drastically. There are 4 transformations that influenced and continue to influence the business models and work of strategists: 1. Expansion of available strategic space – Companies can decide and change their business portfolios....

Delivery of products or services A value chain is the sequence of activities that begins with raw materials. What result does a value chain end with? Choose 1 answer Supply and demand Operations and logistics Outsourcing or insourcing Delivery of products or services Profit margins are increased. What happens when an effective value chain is created? Choose 1 answer Profit margins are increased. A mission statement is developed. Customized products are standardized. Total quality ma...

ISSP - SA Chapter 3 Questions with correct Answers 2024 Frameworks A mental model comprised of several interconnected​ core​ concepts that help us to understand a system. These concepts stand alone, while supporting each other, together forming a philosophical foundation for planning. Mental models This is an abstract representation of a system—of something in the real world that we want to better understand—constructed in our imaginations. Cultivating the ability to think abou...

Regarding the academic fields of psychology, leadership, entrepreneurship, and strategy, which of the following statements about leadership is true? Leadership involves using formal power as well as informal/social sources of influence to inspire action in others. __________ is sometimes defined as "the art of getting things done through the efforts of other people." Management Principles of management are often discussed or learned using the POLC framework. POLC stands for ___...

Marketing Strategy deals with pricing, selling, and producing a product. correct answers False Some strategies to avoid include the follow the leader strategy, the arms race, and do everything strategy. correct answers True Stage I of corporate development is completely centralized in the entrepreneur, who founds the company to promote an idea. correct answers True Six Sigma is an analytical method for achieving near-perfect results on a production line. correct answers True The proc...

Idealist Motivation - correct answer (INNOVATION) Small-business owners who are rewarded by the chance to work on something new and creative. Optimizer Motivation - correct answer (FULFILLMENT) Owners who get personal satisfaction from being business owners. Hard Worker Motivation - correct answer (CHALLENGE) Owners who thrive on the challenge of building a larger, more profitable business Ju...

WGU C483 Principles of Management - (Pre-Assessment) Industry and market analysis, competitor analysis, and social analysis are examples of which step in the strategic planning process? Analysis of external opportunities and threats Skilled management, positive cash flow, and well-known brands are examples of which component of the SWOT analysis? Strengths What denotes skills or expertise in an activity that constitutes the roots of competitiveness in an organization? Core competencies Ac...