CHAPTER 6 PART 2

Question 1

Pertains to the assessment of whether an entrepreneur has sufficient resources to
launch a proposed venture(a risky or daring journey). These should consist of both financial and non-financial resources.

Answer 1

Resource Sufficiency

Question 2

A project team designated to produce a new, innovative(original) product

An experimental laboratory or department of a company or institution, typically smaller than and independent of its main research division.

Answer 2

Skunkworks

Question 3

Informal work on projects, other than those officially assigned, of employees’ own choosing and initiative

The illegal manufacture, distribution, or sale of goods, especially alcohol or recordings.

Answer 3

Bootlegging

Question 4

The tendency of an organization to identify and capitalize successfully on opportunities to launch new ventures by entering new or established markets with new or existing goods or services

Answer 4

Entrepreneurial orientation

Question 5

The set of liquid assets of an organization, including cash, bank deposits and liquid financial investments.

Answer 5

Financial Resources

Question 6

Determined by the value of its physical traits and includes items such as real estate and factory equipment. Other examples legitimacy, networks, top management team, advisory board, partners, social capital

Answer 6

Non-financial Resources

Question 7

What are the 5 Determinants of Entrepreneurial Orientation?

Answer 7

(1) Independent action
(2) Innovativeness
(3) Risk taking
(4) Proactiveness
(5) Competitive aggressiveness

Question 8

What are some examples Financial Resources?

Answer 8

Sufficient funds

Question 9

What are some examples of non-financial resources?

Answer 9

Legitimacy, Networks, Social Capital

Question 10

When an organization pursues opportunities and new practices in order to have growth and profitability as its main goals.

Answer 10

Entrepreneurial venture