Entrepreneurship
A new business having growth and high profitability as primary objectives.
What is an entrepreneurial venture?
An aspect of the organization’s internal environment created by job specialization and the division of labor.
What is differentiation?
Such an organization is simultaneously good at exploitation (using what it knows to efficiently and quickly perform as needed) and exploration (seeking and creating new ways to meet future needs)
What is an ambidextrous organization?
A type of organization in which top management ensures that there is consensus about the direction in which the business is heading.
What is a high-involvement organization?
They may be highly creative but may lack the skills to turn their ideas into a successful business.
Who are inventors?
They perform at least three major sets of duties: (1) selecting, assessing, rewarding, and perhaps replacing the CEO; (2) determining the firm’s strategic direction and reviewing financial performance; and (3) ensuring ethical, socially responsible, and legal conduct.
What do boards do?
A form of organization that seeks to maximize internal efficiency versus a an organizational form that emphasizes flexibility.
What is a mechanistic organization versus an organic organization?
A successful effort to achieve an appropriate size at which the company performs most effectively.
What is rightsizing?
An entrepreneurial alliance between an innovator who has created at least one successful store and wants to grow and a partner who manages a new store of the same type in a new location
What is franchising?
The number of subordinates who report directly to an executive or supervisor.
What is span of control?
These are the higher level, strategic activities involving adapting rapidly to, and proactively shaping, the ever-changing business environment.
What are dynamic capabilities?
These are units that deal directly with the organization’s primary goods and services.
What are line departments?
It is a 3- to 6-month intensive process designed to help budding entrepreneurs build and launch rapidly successful ventures
What is a business accelerator?
The expectation that employees will perform a job, take corrective action when necessary, and report upward on the status and quality of their performance.
What is accountability?
It is a formal relationship created with the purpose of joint pursuit of mutual goals.
What is a strategic alliance?
Temporary arrangements among partners that can be assembled and reassembled to adapt to the environment.
What are dynamic networks?
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.
What is entrepreneurial orientation?
In this structure, separate units act almost as separate businesses or profit centers, working autonomously to accomplish the goals of the entire enterprise.
What is a divisional structure?
An organization skilled at creating, acquiring, and transferring knowledge, and at modifying its behavior to reflect new knowledge and insights.
What is a learning organization?
He identified five functions and 14 principles of management.