Chapter 5

Question 1

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

Answer 1

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

Question 2

What are the differences between entrepreneurial and managerial styles for opportunity

Answer 2

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.

Question 3

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

Answer 3

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.

Question 4

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

Answer 4

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.

Question 5

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

Answer 5

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

Question 6

What are 4 key elements for Intrapreneurship

Answer 6

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

Question 7

What is Administrative domain

Answer 7

The ways managers make decisions

Question 8

What is Business plan

Answer 8

The description of the future direction of the business

Question 9

What is Corporate culture

Answer 9

The environment of a particular organization

Question 10

What is Entrepreneurial domain

Answer 10

The ways entrepreneurs make decisions

Question 11

What is Entrepreneurial culture

Answer 11

The environment of an entrepreneurial-oriented organization

Question 12

Opportunity identification

Answer 12

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

Question 13

What is Opportunity parameters

Answer 13

Barriers to new product creation and development

Question 14

What are Traditional managers

Answer 14

Managers in a non-entrepreneurial-oriented organization