Chapter 5 Flashcards Preview

Entrepreneurship - MGT602 > Chapter 5 > Flashcards

Flashcards in Chapter 5 Deck (14)
Loading flashcards...
1
Q

What are the differences between entrepreneurial and managerial styles for Strategic Orientation

A

The entrepreneur’s strategic orientation depends on his or her perception of the opportunity. Whereas the administrative domain is operand

2
Q

What are the differences between entrepreneurial and managerial styles for opportunity

A

The entrepreneurial domain is pressured by the need for action and has a short time span in terms of opportunity commitment. The administrative domain (the ways mangers make decisions) is not only slow to act on an opportunity, but the commit­ment is usually for a longer time span.

3
Q

What are the differences between entrepreneurial and managerial styles for commitment of resources

A

An entrepreneur is used to having resources committed at periodic intervals, often based on certain tasks. In the administrative domain, the commitment of resources is for the total amount needed.

4
Q

What are the differences between entrepreneurial and managerial styles for control of Resources

A

The administrator is rewarded by effective resource administration and has a drive to own or accumulate as many resources as possible. The entrepreneur, under pressure of limited resources, strives to rent resources on an as-needed basis.

5
Q

What are the differences between entrepreneurial and managerial styles for managerial structure

A

In the administrative domain, the organizational structure is formalized and hierarchical in nature.
The entrepreneur employs a flat organizational structure with informal networks.

6
Q

What are 4 key elements for Intrapreneurship

A
  1. New business venturing refers to the creation of new business within an existing organization.
  2. Organizational innovativeness refers to product and service innovation with an emphasis on development and innovation in technology.
  3. Self-renewal reflects the transformation of organizations through the renewal of the key ideas on which they are built.
  4. Pro activeness includes initiative and risk taking, as well as competitive aggressiveness
7
Q

What is Administrative domain

A

The ways managers make decisions

8
Q

What is Business plan

A

The description of the future direction of the business

9
Q

What is Corporate culture

A

The environment of a particular organization

10
Q

What is Entrepreneurial domain

A

The ways entrepreneurs make decisions

11
Q

What is Entrepreneurial culture

A

The environment of an entrepreneurial-oriented organization

12
Q

Opportunity identification

A

The process by which an entrepreneur comes up with the opportunity for a new venture

13
Q

What is Opportunity parameters

A

Barriers to new product creation and development

14
Q

What are Traditional managers

A

Managers in a non-entrepreneurial-oriented organization