Question 1

Which of the following is not one of the three key stages of an entrepreneurial strategy

Accepted Answer

A)  The generation of a new entry opportunity 
B)  Risk reduction strategies 
C)  A feedback loop 
D)  The exploitation of a new entry opportunity 
A)  The generation of a new entry opportunity 
B)  Risk reduction strategies 
C)  A feedback loop 
D)  The exploitation of a new entry opportunity B

Question 2

A ________ strategy that copies products that already exist and attempts to build an advantage through minor variations.

Accepted Answer

A)  technological 
B)  narrow scope 
C)  me-too 
D)  broad scope 
A)  technological 
B)  narrow scope 
C)  me-too 
D)  broad scope C

Question 3

When the window of opportunity is open,the environment is unfavorable for entrepreneurs to exploit a new product or enter a new market with an existing product.

Accepted Answer

A) True 
 B)False  False

Question 4

The set of decisions,actions,and reactions that first generate,and then exploit over time,a new entry is:

Accepted Answer

A)  entrepreneurial financing. 
B)  entrepreneurial strategy. 
C)  bootstrapping. 
D)  informal organization. 
A)  entrepreneurial financing. 
B)  entrepreneurial strategy. 
C)  bootstrapping. 
D)  informal organization.

Question 5

The costs that must be borne by customers if they are to stop purchasing from the current supplier and begin purchasing from another is:

Accepted Answer

A)  customer switching costs. 
B)  lead time. 
C)  resource costs. 
D)  resource bundle errors. 
A)  customer switching costs. 
B)  lead time. 
C)  resource costs. 
D)  resource bundle errors.

Question 6

A new entry includes all of the following except:

Accepted Answer

A)  offering a new product to a new market 
B)  offering an established product to an new market 
C)  creating a new brand name for your company 
D)  creating a new organization 
A)  offering a new product to a new market 
B)  offering an established product to an new market 
C)  creating a new brand name for your company 
D)  creating a new organization

Question 7

A "me-too" strategy consists of copying products that already exist and attempting to build an advantage through minor variations.

Accepted Answer

A) True 
 B)False

Question 8

Imitation of other products increases the risk of downside loss associated with new entry.

Accepted Answer

A) True 
 B)False

Question 9

Key success factors are the requirements that any firm must meet to successfully compete in a particular industry.

Accepted Answer

A) True 
 B)False

Question 10

Franchising:

Accepted Answer

A)  is the only imitation strategy discussed in the text. 
B)  reduces risk of downside loss. 
C)  is the same as the me-too strategy. 
D)  reduces the amount of competition an entrepreneur will face. 
A)  is the only imitation strategy discussed in the text. 
B)  reduces risk of downside loss. 
C)  is the same as the me-too strategy. 
D)  reduces the amount of competition an entrepreneur will face.

Question 11

Explain the difference between errors of omission and commission.

Accepted Answer

An error of commission occurs from the d

Question 12

An error of commission occurs from the decision not to act on a new entry opportunity.

Accepted Answer

A) True 
 B)False

Question 13

Identify and describe the three major risk reduction strategies.

Accepted Answer

A.Narrow scope-A narrow-scope strategy o

Question 14

The purpose of a franchise is to protect the owner of a unique technology from people imitating that technology.

Accepted Answer

A) True 
 B)False

Question 15

Regarding entry into a new market,which of the following is true

Accepted Answer

A)  First movers gain expertise through participation. 
B)  First movers are not able to detect changes in the market. 
C)  First movers suffer a cost disadvantage. 
D)  First movers face more competitive rivalry. 
A)  First movers gain expertise through participation. 
B)  First movers are not able to detect changes in the market. 
C)  First movers suffer a cost disadvantage. 
D)  First movers face more competitive rivalry.

Question 16

Explain the three major causes of "liabilities of newness."

Accepted Answer

-New organizations face costs in learnin

Question 17

Explain what constitutes a new entry.

Accepted Answer

New entry refers to (1)offering a new pr

Question 18

The entrepreneur's market knowledge is deeper than the knowledge that could be gained through market research.

Accepted Answer

A) True 
 B)False

Question 19

In order to be the basis for a firm's superior performance,a bundle of resources must be valuable,rare,and imitable.

Accepted Answer

A) True 
 B)False

Question 20

To be the basis of a firm's superior performance over competitors for an extended period of time,valuable and rare resources need to be:

Accepted Answer

A)  inimitable. 
B)  fully utilized. 
C)  patented. 
D)  shared. 
A)  inimitable. 
B)  fully utilized. 
C)  patented. 
D)  shared.

Which of the following is not one of the three key stages of an entrepreneurial strategy

A ________ strategy that copies products that already exist and attempts to build an advantage through minor variations.

When the window of opportunity is open,the environment is unfavorable for entrepreneurs to exploit a new product or enter a new market with an existing product.

The set of decisions,actions,and reactions that first generate,and then exploit over time,a new entry is:

The costs that must be borne by customers if they are to stop purchasing from the current supplier and begin purchasing from another is:

A new entry includes all of the following except:

A "me-too" strategy consists of copying products that already exist and attempting to build an advantage through minor variations.

Imitation of other products increases the risk of downside loss associated with new entry.

Key success factors are the requirements that any firm must meet to successfully compete in a particular industry.

Franchising:

Explain the difference between errors of omission and commission.

An error of commission occurs from the decision not to act on a new entry opportunity.

Identify and describe the three major risk reduction strategies.

The purpose of a franchise is to protect the owner of a unique technology from people imitating that technology.

Regarding entry into a new market,which of the following is true

Explain the three major causes of "liabilities of newness."

Explain what constitutes a new entry.

The entrepreneur's market knowledge is deeper than the knowledge that could be gained through market research.

In order to be the basis for a firm's superior performance,a bundle of resources must be valuable,rare,and imitable.

To be the basis of a firm's superior performance over competitors for an extended period of time,valuable and rare resources need to be:

The Entrepreneurial Mind-Set

Corporate Entrepreneurship

Creativity and the Business Idea

Identifying and Analyzing Domestic and International Opportunities

Protecting the Idea and Other Legal Issues for the Entrepreneur

The Business Plan: Creating and Starting the Venture

The Marketing Plan

The Organizational Plan

The Financial Plan

Sources of Capital

Informal Risk Capital, Venture Capital, and Going Public

Strategies for Growth and Managing the Implication of Growth

Accessing Resources for Growth From External Sources

Succession Planning and Strategies for Harvesting and Ending the Venture

Filters

Exam 3: Generating and Exploiting New Entries

Which of the following is not one of the three key stages of an entrepreneurial strategy

A ________ strategy that copies products that already exist and attempts to build an advantage through minor variations.

When the window of opportunity is open,the environment is unfavorable for entrepreneurs to exploit a new product or enter a new market with an existing product.

The set of decisions,actions,and reactions that first generate,and then exploit over time,a new entry is:

The costs that must be borne by customers if they are to stop purchasing from the current supplier and begin purchasing from another is:

A new entry includes all of the following except:

A "me-too" strategy consists of copying products that already exist and attempting to build an advantage through minor variations.

Imitation of other products increases the risk of downside loss associated with new entry.

Key success factors are the requirements that any firm must meet to successfully compete in a particular industry.

Franchising:

Explain the difference between errors of omission and commission.

An error of commission occurs from the decision not to act on a new entry opportunity.

Identify and describe the three major risk reduction strategies.

The purpose of a franchise is to protect the owner of a unique technology from people imitating that technology.

Regarding entry into a new market,which of the following is true

Explain the three major causes of "liabilities of newness."

Explain what constitutes a new entry.

The entrepreneur's market knowledge is deeper than the knowledge that could be gained through market research.

In order to be the basis for a firm's superior performance,a bundle of resources must be valuable,rare,and imitable.

To be the basis of a firm's superior performance over competitors for an extended period of time,valuable and rare resources need to be:

The Entrepreneurial Mind-Set

Corporate Entrepreneurship

Creativity and the Business Idea

Identifying and Analyzing Domestic and International Opportunities

Protecting the Idea and Other Legal Issues for the Entrepreneur

The Business Plan: Creating and Starting the Venture

The Marketing Plan

The Organizational Plan

The Financial Plan

Sources of Capital

Informal Risk Capital, Venture Capital, and Going Public

Strategies for Growth and Managing the Implication of Growth

Accessing Resources for Growth From External Sources

Succession Planning and Strategies for Harvesting and Ending the Venture

Filters