Exam2 Innovation Strategies

What are the three things entreprenuers do?

Identify opportunities not perceived by others

take actions to exploit the opportunities

establish a competitive advantage

Who can be an entrepreneur within a company?

can be a manager or employee within the organization

What is the relationship between entrepreneurial activity and economic development?

There is a strong positive relationship between the rate of entrepreneurial activity and economic development in a nation.

What are the two forms of internal corporate venturing?

• Autonomous strategic behavior

• Induced strategic behavior

How can organizational politics get in the way of cross-functional team effectiveness?

Organizational politics cause aggressive competition for resources among different organizational

functions.

• Organizations must achieve cross-functional integration with minimal political conflict.

What are some of the risks of acquisitions?

Key risks of acquisitions

• The firm may substitute the ability to buy innovations for an ability to

produce innovations internally.

• The firm may lose intensity in R&D efforts.

• The firm may lose its ability to produce patents.