Exam 7: Small Business Strategies: Imitation With a Twist

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An industry life cycle stage in which customer purchases increase at a dramatic rate is the

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Which of the following is NOT one of the supra-strategies identified by Shepherd and Shanley?

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There are two types of resources: tangible and intangible.

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Which of the following,according to Vesper,is NOT an entry wedge specific to small businesses pursuing an imitation strategy?

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The key benefit of an imitation strategy comes from the

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A generic strategy aimed at mass markets in which a firm offers a combination of cost benefits that appeal to the customers is called _____ strategy.

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All of the following are classic strategies for businesses of all types EXCEPT

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In much the same way that families and societies are living things,industries can be considered living too.

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Differentiate between value and cost benefits.Provide four examples for each type of benefit.

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A type of life cycle stage following a boom in which there is a rapid decrease in the number of firms in an industry is the

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There are three classic strategies for businesses of all types: differentiation,imitation,and focus.

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At the end of a SWOT analysis,the strategic direction option,where strengths are matched against threats,is

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An organizational life cycle stage in which established firms must find new approaches to improve the business and its chances for survival is called

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A group discussion in which criticism is suspended in order to generate the maximum number of ideas is

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Changes in competitors,sales and profits in an industry over time is called

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Cost benefits include scale and scope savings.

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Which of the following refers to the particular way a firm implements customer benefits that keeps the firm ahead of other firms in the market?

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The first step of the small business strategy planning process

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An imitation business that competes locally with others in the same industry is called

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The fourth step of the small business strategy planning process

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