Fill in the Blanks ENTREP MIDTERMSOnline version HAHAA yko n by Marguerite Ranielle Ramos 1 goods services onvert buyers support flow transform supplier merchandise source movement consumers A supply chain describes the of and from its to the end - users ( ) and involve the processes that raw materials into final products or services . 2 decides aspects influences affects necessities requirements determines features The supply chain the different of a business and the that will successfully sustain the flo w 3 art successfully effectively efficiently skill discipline science competently management is the and of performing and different functions and processes . 4 growth synthesis stability entire growth maintains stability all sustains combination Strategic management is the effective of functional areas that the and of an enterpris e 5 Financial Operations The Four Core Functional Areas of Management H - Human Resources Management M - Marketing Management F - Management O - Managemen t 6 Organizing Controllin Planning Leading Functions / Processes of Management P - O - L - C - 7 established reexamine recognized reassess worldwide changing global evolving The Thrust for Corporate Entrepreneurship The economy is profoundly compelling large enterprises to their purpos e 8 mutually exclusive contradictory incompatible Earlier research concluded that entrepreneurship and bureaucracies were . 9 power dedication Innovation authority concepts creativity commitment Ideas come from people . is the capability of many . That capability is utilized when people give to the missions and life of the enterprise and are given the to do something about their capabilities . 10 changes image independent brightest innovations large improvements obsolete status Venture The need for corporate entrepreneurship and innovation has arisen as a result of : 1 . In contrast to previous decades , and , and are now very common in the marketplace . Thus , corporations must either innovate or become . 2 . Losing the people to entrepreneurship . This is due to the following developments : a . The and of being an independent entrepreneur , appealing to both young and seasoned employees . b . capital has grown into a industry , along with healthy capita ; funding markets , enabling more entrepreneurs to launch their ideas . 11 ample joint superfluous joint internal intrinsici unnecessary discretionary Example programs that support innovation and venture development . 1 . Reduce bureaucracy , and encourage communication across departments and functions 2 . Use " venture capital " and special project budgets ( " intracapital " ) . Allow time for projects . 3 . Encourage projects and ventures among divisions , department and companies . Allow and encourage employees to discuss and brainstorm new ideas . 12 group product service people of sell purpose produce provide A working together towards an agreed , utilizing different resources ( financial , physical , suppliers , etc . ) to , and then or either a or a for the local ( or global ) population to consume . 13 conducive best competitive workforce achievers high maintain expand grow products new services climate development - Advantages of Fostering a Corporate Entrepreneurship Philosophy within an Organization - 1 . It leads to the of and that will help the organization to and . 2 . It creates a that helps the enterprise its posture 3 . It promotes a to which helps the enterprise motivate and keep its peopl e 14 new needs value change value Capitalism combining is a process of creating by resources in ways intended primarily to explore and exploit opportunities to create social by stimulating social or meeting social .
