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MGMT 449 > CH 8-12 > Flashcards

CH 8-12 Flashcards

1
Q

List 5 entrepreneurial contexts

A
  1. Start up venture
  2. Major corporation
  3. Family owned business
  4. Non-profit organization
  5. Established institution
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2
Q

(T/F) An entrepreneur creates a company from scratch

A

True

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3
Q

What is needed to create a business?

A
  1. Opportunity
  2. Resources
  3. Entrepreneurs
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4
Q

Characteristics of opportunity are…

A
  1. Attractive (demand)
  2. Achievable (realistic/ practical)
  3. Durable (window of opportunity)
  4. Valuable (profitable)
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5
Q

Resources include..

A
  1. Financial capital
  2. Human capital
  3. Social capital
  4. Government
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6
Q

Where do start ups get their financial capital?

A

*Most money come from insider equity (family and friends)

Other sources of money:

  • investor
  • personal debt
  • business debt
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7
Q

List the entry strategies to entrepreneurship

A
  1. Pioneering - radically different
  2. Imitative - proven product into new market
  3. Adaptive - moderately different product or market
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8
Q

List the 5 hardball strategies

A
  1. Devastate rival’s profit sanctuaries
  2. Plagiarize with Pride
  3. deceive the competition
  4. Unleash massive and overwhelming force
  5. Raise competitor’s cost
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9
Q

Give an example of devastating rival’s profit sanctuaries

A

Walmart hurts Best Buy by offering electronic warranties

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10
Q

Give an example of plagiarize with pride

A

Samsung copies Apple

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11
Q

Give an example of deceive the competition

A

Buy small farms secretly

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12
Q

Give an example of unleash massive and overwhelming force

A

Unilever detergent 65% of market share in Vietnam with massive marketing

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13
Q

Give an example of raise competitor’s costs

A

Explain allows competitors to win bids for “no profit” customers

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14
Q

List 8 theories of Strategic Control

A
  1. Expectancy theory
  2. Need theory
  3. Motivator- Hygiene theory
  4. Equity Theory
  5. Goal- setting theory
  6. Operant conditioning theory
  7. Social learning theory
  8. Achievement, affiliation and power
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15
Q

What is the motivator for the following:

  1. Expectancy theory
  2. Need theory
  3. Motivator- Hygiene theory
  4. Equity Theory
  5. Goal- setting theory
  6. Operant conditioning theory
  7. Social learning theory
  8. Achievement, affiliation and power
A
  1. Effort creates outcomes
  2. Need is a motivator
  3. Intrinsic and extrinsic needs
  4. Fairness and justice
  5. Goal provides motivation
  6. Link behavior to outcome
  7. Learning from others and self
  8. Achieving, personal relationships, control
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16
Q

List external governance

A
  1. Market for corporate control (stockholders sell, value goes under book value)
  2. Auditors
  3. Banks
  4. Analysts
  5. Regulatory agencies
  6. Media
  7. Public activists
17
Q

Corporate governance players (the triangle)

A
  1. Shareholders
  2. Board of directors
  3. Management
18
Q

Types of traditional organizations

A
  1. Simple
  2. Functional
  3. Divisional
  4. International
19
Q

Other Structures of creating an effective organizational design

A
  1. Matrix
  2. Strategic business units
  3. Barrier free
  4. Holding company
  5. Virtual organizations
  6. Modular (outsource non-vital sections)
20
Q

Effective leadership

  • Set ______
  • ______ an organization
  • Nurture a ______
A
  1. Set Direction
  2. Design an organization
  3. Nurture a culture
21
Q

Emotional intelligence consist of

A
  1. Self awareness
  2. Self - regulation
    3: motivation
  3. Empathy
  4. Social skills
22
Q

Learning organization

A
  1. Empower employees
  2. Chars internal knowledge
  3. Integrate external information
  4. Challenges the status quo
  5. Creativity
23
Q

Ethical organization

A
  1. Individual v organizational ethics
  2. Integrity v. Compliance-based
  3. Role models
  4. Corporate credits and codes of conduct
  5. Reward and evaluation system
  6. Policies and procedures
24
Q

Types of innovation

A
  1. Product
  2. Process
  3. Radical
  4. Incremental
  5. Sustaining
  6. Disruptive
25
Q

Dilemmas of pursuing innovation

A
  1. Seeds v. Weeds
  2. Experience v. Initiative
  3. Internal v. External staffing
  4. Build capability v. Collaboration
  5. Incremental v. Preemptive
26
Q

Innovator’s DNA

A
  1. Associating
  2. Questioning
  3. Observing
  4. Experimenting
  5. Networking
27
Q

At each step of investment you should..

A
  1. Continue as planned
  2. Increase
  3. Delay
  4. Reduce
  5. Stop
28
Q

Types of business risk

A
  1. Business
  2. Financial
  3. Personal - career
29
Q

Formal criteria and back solving

A
  1. Managerial conceit
  2. Illusion of control
    3 irrational escalation of commitment

MGMT 449 (1 decks)

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