Leadership, Entrepreneurship, and Strategy

What is the definition of leadership according to the text?

• The act of influencing others toward a goal

• The ability to manage resources effectively

• The process of creating new business opportunities

• The strategy of competing in the market.

Leadership should be defined as the social and informal sources of influence that you use to inspire action taken by others. It means mobilizing others to want to struggle toward a common goal. Great leaders help build an organization’s human capital, then motivate individuals to take _______ action.

• passive

• concerted

• individual

• random

Which company is known for its unique corporate culture and emphasis on team achievements?

• P&G

• Google

• Microsoft

• Apple

Google's founders built a company around the idea that work should be _______ and the challenge should be fun.

• easy

• challenging

• boring

• repetitive

Who said, 'You cannot manage men into battle. You manage things; you lead people.'?

• Harry S. Truman

• Grace Hopper

• Chester Bernard

• Warren Bennis

Entrepreneurship is defined as the recognition of opportunities and the use or creation of resources to implement innovative ideas for new, ________ planned ventures.

• carelessly

• thoughtfully

• hastily

• randomly

What is the role of entrepreneurs in value creation?

• They identify and create new markets

• They maintain existing markets

• They avoid changes in existing ones

• They focus only on small solutions.

When an organization has a long-term purpose and clear goals, it is said to have a ______.

• Strategy

• Plan

• Vision

• Mission

Which of the following is NOT a principle of management discussed in the text?

• A) Leadership

• B) Entrepreneurship

• C) Strategy

• D) Marketing

In terms of principles of management, leadership, entrepreneurship, and strategic management answer questions about 'who,' 'what,' and '____.'

• A) Why

• B) When

• C) How

• D) Where