Question 1

Which of the following terms is used to refer to opportunities that are practical and physically possible?

Accepted Answer

A)   durable
B)   valuable
C)   achievable
D)   sustainableE) A) and C)
F) All of the above

Question 2

When launching a new venture,finding a way to begin doing business must ______________ generate cash flow,build credibility,attract good employees,and overcome the liability of newness.

Accepted Answer

A)   slowly
B)   quickly
C)   steadily
D)   painlesslyE) B) and C)
F) B) and D)

Question 3

Which of the following refers to a situation where a company has a high concentration of its business in a particular industry market?

Accepted Answer

A)   competitor resources
B)   market dependence
C)   resource similarity
D)   actor's reputationE) A) and D)
F) A) and C)

Question 4

Pandora entered the radio business in 2000 using the Music Genome Project system that analyzes music for its underlying traits as a means to distinguish itself.It was using ______________ entry strategy.

Accepted Answer

A)   a pioneering
B)   an imitative
C)   an adaptive
D)   a creativeE) A) and B)
F) C) and D)

Question 5

Generally speaking,the opportunity recognition process consists of two phases of activity.They are ______________ and _____________.

Accepted Answer

A)   global search; recycling profits
B)   value creation; affordability
C)   discovery; evaluation
D)   global search; valuationE) A) and D)
F) All of the above

Question 6

Which of the following is NOT a common new entry strategy according to the text?

Accepted Answer

A)   imitative new entry
B)   adaptive new entry
C)   proactive new entry
D)   pioneering new entryE) B) and C)
F) A) and C)

Question 7

In the context of competitive dynamics,what factors determine the likelihood of a competitive response?

Accepted Answer

In the context of competitive dynamics, ...

Question 8

Opportunity recognition is the process of identifying,selecting,and developing entrepreneurial opportunities.

Accepted Answer

A) True 
 B)False

Question 9

Private individuals who provide seed capital to young ventures are known as _____________.

Accepted Answer

A)   angels
B)   gazelles
C)   cash cows
D)   rising starsE) A) and C)
F) None of the above

Question 10

One of the ways entrepreneurs achieve success is by using resources more efficiently.This is an example of how entrepreneurs use ______________ strategy.

Accepted Answer

A)   an imitative
B)   a low-cost leader
C)   a differentiation
D)   a combinationE) B) and D)
F) A) and C)

Question 11

The Wall Street Journal and the New York Times have seen the intensity of their rivalry increase.One factor driving this is that the Wall Street Journal has moved from financial news reporting to general national and global news reporting and finally,to adding local New York news.The rivalry of these two news providers has increased due to _____________.

Accepted Answer

A)   increased dynamic capabilities
B)   increased market commonality
C)   erosion of first mover advantages
D)   the choice of tactical over strategic actionsE) All of the above
F) A) and B)

Question 12

Warby Parker makes eyeglasses.It keeps costs low through several means and has a social mission.This is an example of a firm that uses a combination strategy.

Accepted Answer

A) True 
 B)False

Question 13

Co-opetition,where competitors work together behind the scenes,is a form of illegal tacit collusion.

Accepted Answer

A) True 
 B)False

Question 14

Angel investors are private individuals who provide equity investments for seed capital during the later stages of a new venture.

Accepted Answer

A) True 
 B)False

Question 15

Square provides a means for small businesses to process credit and debit card sales without signing up for a traditional credit card arrangement of monthly fees and minimum charges.It used which new entry strategy to enter the market initially?

Accepted Answer

A)   imitative
B)   pioneering
C)   adaptive
D)   differentiatedE) A) and B)
F) A) and C)

Question 16

Spandex,founded in 2000,created footless pantyhose and other undergarments for women.This is an example of an imitative new entry strategy.

Accepted Answer

A) True 
 B)False

Question 17

When any two firms have both a high degree of market commonality and highly similar resources,a ______________ threat is present.

Accepted Answer

A)   weaker competitive
B)   stronger competitive
C)   successful marketing
D)   stronger marketingE) B) and D)
F) None of the above

Question 18

Which of the following is not a factor that makes it more difficult for new ventures to be successful as differentiators?

Accepted Answer

A)   The strategy is thought to be expensive to put into action.
B)   Establishing a brand, important to a differentiation strategy, is thought to be expensive.
C)   Superior innovation is often very costly.
D)   Customer service is often costly, but it does not affect a differentiation strategy.E) A) and B)
F) A) and C)

Question 19

Based on statistics reported in the text,which of the following statements is not true?

Accepted Answer

A)   Firms that obtain venture-capital funding receive an average of over $1 million each.
B)   Total investment in start-up firms averages about $80,000 in the first year of the activity of the firm.
C)   Among the 100 fastest-growing new businesses identified by Entrepreneur magazine, 61 percent obtained start-up funding from personal savings.
D)   Ninety percent of the companies financed with venture capital funds fail.E) A) and B)
F) All of the above

Question 20

Which of the below best describes the competitive tendencies of small firms?

Accepted Answer

A)   Small firms tend to signal their competitive actions long before they launch those actions, because they lack legitimacy in the marketplace
B)   Small firms typically have more resources available as they undertake competitive attacks than do large firms.
C)   Small firms are more nimble and can respond quickly to competitive attacks.
D)   Small firms are more nimble and cannot respond quickly to competitive attacks.E) A) and B)
F) A) and C)

Exam 8: Entrepreneurial Strategy and Competitive Dynamics

Which of the following terms is used to refer to opportunities that are practical and physically possible?

Correct Answer
verified

Correct Answer
verified

Angel investors are private individuals who provide equity investments for seed capital during the later stages of a new venture.

Correct Answer
verified

Co-opetition,where competitors work together behind the scenes,is a form of illegal tacit collusion.

Correct Answer
verified

Generally speaking,the opportunity recognition process consists of two phases of activity.They are __ and _.

Correct Answer
verified

Which of the following refers to a situation where a company has a high concentration of its business in a particular industry market?

Correct Answer
verified

Which of the following is NOT a common new entry strategy according to the text?

Correct Answer
verified

Which of the below best describes the competitive tendencies of small firms?

Correct Answer
verified

Opportunity recognition is the process of identifying,selecting,and developing entrepreneurial opportunities.

Correct Answer
verified

Which of the following is not a factor that makes it more difficult for new ventures to be successful as differentiators?

Correct Answer
verified

When launching a new venture,finding a way to begin doing business must ______________ generate cash flow,build credibility,attract good employees,and overcome the liability of newness.

Correct Answer
verified

Based on statistics reported in the text,which of the following statements is not true?

Correct Answer
verified

When any two firms have both a high degree of market commonality and highly similar resources,a ______________ threat is present.

Correct Answer
verified

Private individuals who provide seed capital to young ventures are known as _____________.

Correct Answer
verified

Warby Parker makes eyeglasses.It keeps costs low through several means and has a social mission.This is an example of a firm that uses a combination strategy.

Correct Answer
verified

Pandora entered the radio business in 2000 using the Music Genome Project system that analyzes music for its underlying traits as a means to distinguish itself.It was using ______________ entry strategy.

Correct Answer
verified

In the context of competitive dynamics,what factors determine the likelihood of a competitive response?

Correct Answer
Answered by ExamLex AI
In the context of competitive dynamics, ...
View Answer

One of the ways entrepreneurs achieve success is by using resources more efficiently.This is an example of how entrepreneurs use ______________ strategy.

Correct Answer
verified

Spandex,founded in 2000,created footless pantyhose and other undergarments for women.This is an example of an imitative new entry strategy.

Correct Answer
verified

Square provides a means for small businesses to process credit and debit card sales without signing up for a traditional credit card arrangement of monthly fees and minimum charges.It used which new entry strategy to enter the market initially?

Correct Answer
verified

Exam 8: Entrepreneurial Strategy and Competitive Dynamics

Which of the following terms is used to refer to opportunities that are practical and physically possible?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Angel investors are private individuals who provide equity investments for seed capital during the later stages of a new venture.

Correct AnswerverifiedShow Answer

Co-opetition,where competitors work together behind the scenes,is a form of illegal tacit collusion.

Correct AnswerverifiedShow Answer

Generally speaking,the opportunity recognition process consists of two phases of activity.They are ______________ and _____________.

Correct AnswerverifiedShow Answer

Which of the following refers to a situation where a company has a high concentration of its business in a particular industry market?

Correct AnswerverifiedShow Answer

Which of the following is NOT a common new entry strategy according to the text?

Correct AnswerverifiedShow Answer

Which of the below best describes the competitive tendencies of small firms?

Correct AnswerverifiedShow Answer

Opportunity recognition is the process of identifying,selecting,and developing entrepreneurial opportunities.

Correct AnswerverifiedShow Answer

Which of the following is not a factor that makes it more difficult for new ventures to be successful as differentiators?

Correct AnswerverifiedShow Answer

When launching a new venture,finding a way to begin doing business must ______________ generate cash flow,build credibility,attract good employees,and overcome the liability of newness.

Correct AnswerverifiedShow Answer

Based on statistics reported in the text,which of the following statements is not true?

Correct AnswerverifiedShow Answer

When any two firms have both a high degree of market commonality and highly similar resources,a ______________ threat is present.

Correct AnswerverifiedShow Answer

Private individuals who provide seed capital to young ventures are known as _____________.

Correct AnswerverifiedShow Answer

Warby Parker makes eyeglasses.It keeps costs low through several means and has a social mission.This is an example of a firm that uses a combination strategy.

Correct AnswerverifiedShow Answer

Pandora entered the radio business in 2000 using the Music Genome Project system that analyzes music for its underlying traits as a means to distinguish itself.It was using ______________ entry strategy.

Correct AnswerverifiedShow Answer

In the context of competitive dynamics,what factors determine the likelihood of a competitive response?

Correct AnswerAnswered by ExamLex AIIn the context of competitive dynamics, ...View AnswerShow Answer

One of the ways entrepreneurs achieve success is by using resources more efficiently.This is an example of how entrepreneurs use ______________ strategy.

Correct AnswerverifiedShow Answer

Spandex,founded in 2000,created footless pantyhose and other undergarments for women.This is an example of an imitative new entry strategy.

Correct AnswerverifiedShow Answer

Square provides a means for small businesses to process credit and debit card sales without signing up for a traditional credit card arrangement of monthly fees and minimum charges.It used which new entry strategy to enter the market initially?

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Generally speaking,the opportunity recognition process consists of two phases of activity.They are __ and _.

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
Answered by ExamLex AI
In the context of competitive dynamics, ...
View Answer

Correct Answer
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Correct Answer
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Correct Answer
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