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Organizing Entrepreneurship Exam 106: Correct Solutions and Key Concepts, Exams of Entrepreneurship Development

International Business CollegeEntrepreneurship Development

A comprehensive set of answers to the organizing entrepreneurship exam 106, covering key concepts and theories related to corporate entrepreneurship, business model innovation, and ambidextrous organizations. It includes detailed explanations of various topics, such as the challenges of managing corporate entrepreneurship, the importance of dynamic capabilities, and the different models for engaging with startups. The document also explores the value drivers of business model innovation and the importance of a well-defined business model canvas.

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2024/2025

Available from 11/01/2024

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Organizing entrepreneurship exam 106
correct solutions
Organizing entrepreneurship exam 106
correct solutions
How to put a plan in action? - ANSWER-1. Strong Leadership: Needs decisive
(besluitvaardig) leader that can implement his ideas
2. Business model Search: a business model needs to be articulated well
3. Search for Employees: Important to attract the right people
Why is it difficult to engage in and manage corporate entrepreneurship? - ANSWER-
There is a dilemma between old and new
In which forms is this issue (3 things)? - There is a dilemma between old and new -
ANSWER-1. Cultural changes between the parent organization and the offspring
2. Start up may not take off as expected and be financially dependent for a long time
3. Difficult to recruit new employees
What are the things for a good balance between old and new in your cooperation? -
ANSWER-- Space, direction, support and boundaries
Which factors cause firms to search for more corporate entrepreneurship initiatives? -
ANSWER-improve: entrepreneurial mindset, creativity and adaptability to innovation
and change.
What are the 4 barriers in CE? - ANSWER-1. Economic barriers: sunk costs, Short-term
benefits
2. Cognitive (kennend) barriers: no understanding, routines
3. Social/Psychological barriers: complacency (zelfgenoegzaamheid) and fear
4. Political barriers
Creating new business is a challenge, which three - ANSWER-1. Emerging business
usually lack hard data
2. New business require innovation and fresh ideas, many leaders are trapped by
conventional thinking
3. There is often a poor fit between new business and old systems
Why traditional response fail: - ANSWER-1. Assigning it to existing divisions: It is easy
for traditional businesses to dominate new ones
2. Lodging it in special-purpose divisions of venture groups: it can be hard to merge old
business with venture group, because of new cultures, suspicion and fractious
relationships
Balancing acts: for a good corporate buisness - ANSWER-1. Narrow the playing field
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correct solutions

Organizing entrepreneurship exam 106

correct solutions

How to put a plan in action? - ANSWER-1. Strong Leadership: Needs decisive (besluitvaardig) leader that can implement his ideas

  1. Business model Search: a business model needs to be articulated well
  2. Search for Employees: Important to attract the right people Why is it difficult to engage in and manage corporate entrepreneurship? - ANSWER- There is a dilemma between old and new In which forms is this issue (3 things)? - There is a dilemma between old and new - ANSWER-1. Cultural changes between the parent organization and the offspring
  3. Start up may not take off as expected and be financially dependent for a long time
  4. Difficult to recruit new employees What are the things for a good balance between old and new in your cooperation? - ANSWER-- Space, direction, support and boundaries Which factors cause firms to search for more corporate entrepreneurship initiatives? - ANSWER-improve: entrepreneurial mindset, creativity and adaptability to innovation and change. What are the 4 barriers in CE? - ANSWER-1. Economic barriers: sunk costs, Short-term benefits
  5. Cognitive (kennend) barriers: no understanding, routines
  6. Social/Psychological barriers: complacency (zelfgenoegzaamheid) and fear
  7. Political barriers Creating new business is a challenge, which three - ANSWER-1. Emerging business usually lack hard data
  8. New business require innovation and fresh ideas, many leaders are trapped by conventional thinking
  9. There is often a poor fit between new business and old systems Why traditional response fail: - ANSWER-1. Assigning it to existing divisions: It is easy for traditional businesses to dominate new ones
  10. Lodging it in special-purpose divisions of venture groups: it can be hard to merge old business with venture group, because of new cultures, suspicion and fractious relationships Balancing acts: for a good corporate buisness - ANSWER-1. Narrow the playing field

correct solutions

  1. Learn from small sample
  2. Use prototype to test business models
  3. Track progress through nonfinancial measures
  4. Suspend judgement, but not indefinitely There are 4 different model of engaging with startups for large corporations. - ANSWER-1. Corporate Venture capital (outside-in): for a company to engage in entrepreneurial activity is to finance it
  5. Corporate incubation (inside-out): Corporate incubators have merges as a means to bring startups to market as new companies
  6. Startup program (outside-in): In this model the focus is on making interesting startup products or technologies available to the sponsoring organization by enabling multiple startups to elaborate and deliver on their ideas.
  7. Startup program (platform): goal is to get startups to build their products using corporation-supplied technology (platform) to expand the market for the corporation Three leadership characteristics - ANSWER-1. Deep expertise: experts are leading experts
  8. Immersion in details: having leaders who are experts in their areas and can go deep into detail
  9. Willingness to collaboratively debate: because no function is responsible for a product or a service on its own, cross functional collaboration is crucial. How exactly do people find new things exploit? (4 things) (nieuwe dingen ontdekken) - ANSWER-1. Based on a personal need that I can solve
  10. Observation and keeping track of media trends
  11. Talk to colleagues, friends and family
  12. No purposeful strategy really, this is all about change Large companies search for entrepreneurship at different degrees and frequencies what are the 4 things in the picture - ANSWER-1. periodic discontinous innovation( high, low)
  13. core acticity periodic incremental innovation(low, low)
  14. continous incremental innovation(low, high)
  15. dynamic innovation(high, high) What are microeconomics? - ANSWER-- Ignores the managerial challenges associated with environments characterized by deep uncertainty What are senior managers? - ANSWER-- Core managers in an organization, responsible for recognizing the need for and bringing about change in business environments What is entrepreneurial management? - ANSWER-- Managers that collect information, sense opportunities, and make informed conjectures

correct solutions

  • Lack of established disciplines
  • Once selected, many ventures fail in execution Article 2.1: O'reilly and Tushman 2011 Leading the ambidextrous organization for the following five conditions: - ANSWER-1. Compelling strategic intent
  1. Articulation of a common vision and values
  2. Senior team that explicitly owns the unit's strategy of exploration and exploitation
  3. Separate but aligned organizational architectures
  4. Ability to tolerate and resolve tensions Article 2.2: Mocker, Bielli and Haley (2015) Three steps to start a corporate start-up - ANSWER-Step 1: clarify your objectives:
  • Rejuvenation corporate culture: to create an entrepreneurial mindset among employees
  • Innovating big brands: to attract customers, partners and talent
  • Solving business problems: quicker and at lower risk
  • Expanding into future markets: by accessing new capabilities or channels Step 2: consider the programme options:
  • One-off events: attract startups that often take from of competition
  • Sharing resources: accelerators, incubators
  • Partnerships: product co-development
  • Investments: corporate venturing
  • Acquisitions: buying startups o Acqui-hiring: the practice of acquiring a company specifically in order to access its talent, as opposed to its technology or other assets Step 3: connect potential resources:
  • Cash
  • Employee time
  • Products
  • Intangible assets A business model describes the rationale of how an organization creates, delivers and captures value. It can be described through 9 building blocks: - ANSWER-Customer Segments, Value Propositions, Channels, Customer Relationships, Revenue Streams, Key Resources, Key Activities, Key Partnerships & Cost Structure. This is usually displayed on the business mode canvas. buiseness models need innovation (3types) - ANSWER-• content • structure • governance(bestuur) Business Model innovation - ANSWER-• represents source of value

correct solutions

  • Create a new market, or create and exploit new opportunities in existing markets voorbeeld:
  • Content: Retail banking ⇒ online banking
  • Structure: Change customer interaction, channels, find new partners...
  • Governance: Mergers or partnership agreements, consulting companies... An improved business model needs to answer certain questions;(6) - ANSWER-1. What customer needs?
  1. What novel activities?
  2. How can these novel activities be linked in new ways?
  3. Who should perform and govern these new activities?
  4. How is value created with this BM innovation for each stakeholder?
  5. What revenue models can be adopted to complement the BM? A good business model innovation is - ANSWER-feasible, desirable and viable Value Drivers of Business Model innovation - ANSWER-• Novelty (driven by innovation, new tech)
  • Lock-In (switching costs)
  • Complementaries (interdependencies among business)
  • Efficiency (low cost strategy) BM-Portfolio - ANSWER-gives us a quick overview what resources, capabilities and performances a specific BM has. The goal of these portfolios is to see how different Business models affect each other - ANSWER-• Find connection/complementaries between different BM and activities. ⇒ Complementarities between two business models helped companies to learn faster and to develop key business capabilities. ie. Search for strategic fit
  • Avoid conflicts between BM. ⇒ Different business models can also be in direct conflict, resulting in cannibalization.
    • Evaluate position of new BMs; ⇒ Different possible positions of a new business model in relation to an old business model BM-transformation - ANSWER-⇒ There is a current business model that is changed into another business model ⇒ This basically ensures: Firm Survival, New market entry, Need for new capabilities
  • BM-Diversification - ANSWER-⇒ The current business model stays in place, and an additional business model is created. ⇒ Mitigating risk: Business model exploration without harming existing business

correct solutions

  • Communication: How managers and employees interact and relate to each other
  • Control and rewards
  • Stories Employee Behaviour: - ANSWER-• Strength of peer pressure to do things in particular ways and conform the expected norms.
  • Job titles, slogans, gossip Often the culture present is not desirable in all aspects. An organization culture should be acceptable of innovation and be adaptable. General characteristics that are considered good are: - ANSWER-• Tolerance to failure but not for incompetence
  • Willingness to experiment/risk but higly disciplined
  • Psychological safety but brutally candid
  • Highly collaborative with induvial accountability
  • flat but strong leadership The manager also needs to preferably create an environment which is; - ANSWER-• Willing to experiment
  • feel safe and explore their creativity without fear
  • Collaborative but has individual accountability.
  • flat but strong leaders •tolerance for failure not for incompetence Changing culture is really all about: - ANSWER-propaganda. You want to alter how the people think and shape it in a way that benefits the management Types of Intellectual property rights - ANSWER-• Patent (new inventions)
  • Copyright(recht auteur om kopiën van werk te maken)
  • Trademark (naam/symbool achter naam)
  • Registered Design (beschermt uiterlijk van een prodruct) patent info - ANSWER-• hold 20 years
  • new to the world •expensive •18 maanden befor granted Why Is IP useful? - ANSWER-To signal value to investors
  • Commercialization agreements with established firms
  • License-out or buy/sell technologies to create revenue (markets for technology)
  • Attract venture capital, act as collateral for bank loans, boost a firm's IPO valuation
  • Participate in cooperative standards
  • Patent fences to avoid imitation
  • Specialized patent-holding firms, or patent trolls/sharks, engage in litigation
  • Selective revealing

correct solutions

open innovation - ANSWER-combining external and internal ideas, The open innovation model has these key features; - ANSWER-• Organizational boundary is porous

  • Equal importance given to external knowledge
  • Outbound flows: spillovers are opportunity What for problems faces open innovation? - ANSWER-- Not-Invented-Here (NIH) (liever interene technologiën gebruiken)
  • Lack of understanding
  • Hollow-out the firm(having too much connections oudside te firm)
  • give more than receive
  • Role of tacit knowledge and face-to-face interaction
  • IP leakage
  • Arrow's information or disclosure paradox(if you give people to much information of the product => they produce it self) Closed Innovation - ANSWER-Innovation from within the company The problem with closed innovation - ANSWER-Erosion Factor;
  • Increasing availability and mobility of highly-skilled workers ⇒ Knowledge spillovers to competitors and startups
  • Venture capital market which supports new entrepreneurial ventures
  • Growing opportunities to develop technologies outside the firm ⇒ E.g. universities and suppliers Tragedy of the commons - ANSWER-is the problem that when individuals can use as much scares resources they like it will be overused Freedom to operate (FTO) - ANSWER-is of importance so when making a new technological product the company does not infringe into others IPR because they are then dependent tragedy of the anticommons - ANSWER-underuse of knowledge from a social welfare point of view, called disassembly problem - ANSWER-refers to the problem of finding an explicit or implicit contractual arrangement for allocation of IPRs and licenses that allows for separating and dis-integrating a company, or IP unit in order to enable a transaction or dissolution of it. IP assembly problem. - ANSWER-the company does not infringe into others IPR because they are then dependent. We refer to this as the

correct solutions

Why teamwork can fail 4 things? - ANSWER-- Free-ride, conflict counter-productive( : a team needs to have diversity) Group-think(meepraten met groep) What is team input: - ANSWER-is de team samenstelling, teamsize, age, gender, personality What is team processes: - ANSWER-- Making strategic plans

  • Coordinating members effort
  • Managing conflicts
  • Communication Team input factors for innovation - ANSWER-Diversity, independence, orientation, cohesion and communication Why is diversity good? - ANSWER-- With diverse expertise they likely stimulate each other to deeply process different ideas or conflicting perspectives Diversity can lead to issues: they not always benefit from differences. Key is to prevent members from socially categorizing themselves and to manage diverse backgrounds and value. Task orientation: - ANSWER-- A good team shared vision and outcomes.
  • Evaluate performance critically to see if everything is as good as it could be.
  • The teams know what is going well, what is going wrong, and can adapt accordingly. This will however require a good oversight. Cohesion: - ANSWER-Commitment of members to their work team and their desire to maintain group membership. Individuals are more willing to take risks in situations in which they have reliable bonds with important others and feel they can rely on their support Different levels of management functions: - ANSWER-1. Senior management:
  1. Middle management:
  • influence and shape the operationalization of the firm's corporate entrepreneurial strategy, communicating with senior and first-level management.
  1. First-level management:
  • Experimenting, adjusting, and conforming roles What are the 5 leadership theories: - ANSWER-1. The 'great man' theories: 1840
  • Assumed great leader are born. For example a Napoleon was a Napoleon at his birth

correct solutions

  1. Trait theory: 1930- 1940
  • Looked at traits of good leaders which found leader to be taller and more intelligent than the average Joe
  • Focuses on individual attributes
  1. Behavioral theories: 1940- 1950
  • They looked at leader and placed them in two groups
  • Leaders that are Task oriented: initiating, organizing, clarifying, information gathering
  • Leader that are People oriented: encouraging, observing, listening, coaching and mentoring
  1. Contingency theory: 1960
  • Contingent leader are flexible in choosing and adapting
  • Focuses on diverse factors such as task, group and context
  1. Transformational and transactional leadership: 1970- 1980
  • Transformational: Inspiration and creates excitement in followers
  • Transactional: efficiency and occurs with incremental change Leadership theories of Kurt Lewin: - ANSWER-1. Democratic leadership:
  • Also known as participative leadership or shared leadership
  • Is a leadership style in which members of the group take a participative role in the decision-making process.
  • This type of leadership can apply to any organization, from private businesses to schools to the government.
  1. Authoritarian leadership
  • This is a clear distinct leader: duidelijke leider
  1. Laissez-faire leadership:
  • Have attitude of trust and reliance on their employees
  • Don't get too involved and don't give too much instruction and guidance
  • They let their employees use their creativity, resources and experience to help them meet their goals Traits of entrepreneurial leaders: - ANSWER-- Visionary: should give clear direction
  • Communicator/motivator: vision should be shared and motivate
  • Strategic thinker and learner: understanding how to achieve the vision
  • Emotional intelligence with strong interpersonal skills: able to listen and influence people in the right direction
  • Relationship builder: building of trust
  • Team player: share information
  • Builder of confidence: inspire others

correct solutions

Phase 2 is when infighting starts and controlling the conflict is important. Some teams never go out of this phase. Phase 3 is when the group starts to get organized; developing skills, establishing procedures and giving feedback. Phase 4 is when the group becomes mature and effective, working flexibly and closely, making the most of resources and being supportive. Transformational leadership consists of exhibition of four interdependent and mutually reinforcing attributes: - ANSWER-Charisma, creating and presenting an attractive vision of the future - Inspirational motivation, energizing followers to go beyond self-interest - Intellectual stimulation, stimulating followers to challenge assumptions and view problems from new perspectives

  • Individualized consideration, focusing on follower development by providing support, encouragement, and coaching stinctive types of diversity: - ANSWER-Variety: ... in kind or category ofinformation, knowledge, or experiences Separation: ... in the continuum of anattitude, a value, or belief (e.g., politicalopinion or opinions about task) Disparity: ... in the allocation of finitesocially valued resources (e.g., power,status, hierarchy) Corporate entrepreneurship is.. - ANSWER-the process by which teams within an established company conceive, foster, launchand manage a new business that is distinct from the parent company but leveragesthe parent's assets, market position, capabilities or other resources (Wolcott &Lippitz,2007) When should we team up? - ANSWER-Task needs: difficult, complex, innovative, and/or urgent• Organizational needs: uncertainty/changes, competitive advantage Liabilities of teams - ANSWER-Free riding and Conflict en group think( zelfde denken als groep) what should diverse teams do? - ANSWER-• If a team has members with diverse knowledge, it does not mean the teamwill certainly benefit from these differences
  • Key is to utilize diverse knowledge in team task
  • If a team has socially diverse members, it does not mean the team willcertainly suffer from these differences
  • Key is to prevent members from socially categorizing themselves and tomanage diverse backgrounds and values42 1ZSUC0 - Lecture 7 T ransformational leadership - ANSWER-Transactional leadership• Efficiency• Incremental chang

correct solutions

  1. Idealized Influence (charisma)
  2. Inspirational motivation (charisma)
  3. Intellectual stimulation
  4. Individualized consideration1ZSUC0 - Lecture 824 Neocharismatic view - ANSWER-Followers have to accept leaders as symbol of their moral unity Difference with transformational leadership:
  5. Developmental and empowering focus (individualized consideration)
  6. Rational influencing means (intellectual stimulation) intrapreneurship - ANSWER-process of promoting innovation within the structure of an existing organization Entrepreneurs innovate for themselves, intrapreneursinnovate on behalf of established organizations relation ofpersonality and intrapreneurship Big Five Personality Traits• - ANSWER-Openness to experience (O)"I have a vivid imagination"• Conscientiousness (C)"I am always prepared"• Extraversion (E)"I am the life of the party"• Agreeableness (A)"I sympathize with other's feelings"• Neuroticism (N)"I worry about things work engagement 3 ellements - ANSWER-Vigor: high levels of energy and mental resiliencewhile working, willingness to invest effort in one'swork, and persistence also in the face of difficulties. Dedication: sense of significance, enthusiasm,inspiration, pride, and challenge. Absorption: being fully concentrated and happilyengrossed in one's work; time passes quickly, and onehas difficulties with detaching oneself from work. Is intrapreneurship always good for employees? - ANSWER-• Intrapreneurial and innovative behaviorswithout adequate resources can lead toburnout or failures in establishinginnovation
  • Innovative employee behavior ≠ innovation Locus of Control - ANSWER-Internal locus of control
  • Belief that own actions determine outcomes andrewards (e.g., business outcomes)
  • Feeling of control over outcomes External locus of control
  • Belief that outcomes are controlled by others oroutside events (e.g., chance)