Question 1

The strategic direction option,at the end of a SWOT analysis,where opportunities match strength is

Accepted Answer

A) flaunt. 
B) fight. 
C) flee. 
D) fix. 
A) flaunt. 
B) fight. 
C) flee. 
D) fix.

Question 2

Funds left over after deducting the cost of goods sold is called net profit.

Accepted Answer

A) True 
 B)False

Question 3

What represents the amount of money the owners take out of the firm annually and on which they pay taxes?

Accepted Answer

A) Profit before taxes 
B) Gross profit 
C) Net profit 
D) Rate of profit 
A) Profit before taxes 
B) Gross profit 
C) Net profit 
D) Rate of profit

Question 4

Value benefits can include all of the following EXCEPT

Accepted Answer

A) quality. 
B) style. 
C) delivery. 
D) learning. 
A) quality. 
B) style. 
C) delivery. 
D) learning.

Question 5

Typically with a new product or service,you also have a unique setting.

Accepted Answer

A) True 
 B)False

Question 6

Which of the following refers to funds left over after deducting the cost of goods sold?

Accepted Answer

A) Profit before taxes 
B) Gross profit 
C) Net profit 
D) Rate of profit 
A) Profit before taxes 
B) Gross profit 
C) Net profit 
D) Rate of profit

Question 7

Customization,super-support,and single-mindedness are three cost-driven strategies offered by Porter for small businesses.

Accepted Answer

A) True 
 B)False

Question 8

Which of the following represent the five stages of industry life cycle?

Accepted Answer

A) Introduction,growth,maturity,decline,and death. 
B) Introduction,pioneers,early adopters,decline,and death. 
C) Pioneers,growth,early adopters,decline,and death. 
D) Pioneers,early adaptors,late adopters,early majority,and death. 
A) Introduction,growth,maturity,decline,and death. 
B) Introduction,pioneers,early adopters,decline,and death. 
C) Pioneers,growth,early adopters,decline,and death. 
D) Pioneers,early adaptors,late adopters,early majority,and death.

Question 9

Explain the process of industry analysis.How can it help an individual in the strategy process?

Accepted Answer

Industry analysis (IA)is a research proc

Question 10

A _____ is a narrowly defined segment of the population that is likely to share interests or concerns.

Accepted Answer

A) niche market 
B) mass market 
C) degree of similarity 
D) parallel competition 
A) niche market 
B) mass market 
C) degree of similarity 
D) parallel competition

Question 11

A customer group that involves large portions of the population is called a

Accepted Answer

A) niche market. 
B) scope of market. 
C) parallel competition. 
D) mass market. 
A) niche market. 
B) scope of market. 
C) parallel competition. 
D) mass market.

Question 12

Demand shortage and second sourcing are two of the seven entry wedges suggested by Karl Vesper for small businesses pursuing an imitation strategy.

Accepted Answer

A) True 
 B)False

Question 13

A _____ type of life cycle growth stage is marked by a very rapid increase in sales in a relatively short time.

Accepted Answer

A) decline stage 
B) growth stage 
C) boom 
D) shake-out 
A) decline stage 
B) growth stage 
C) boom 
D) shake-out

Question 14

Imitation minus one degree of similarity would be the business equivalent of incremental innovation.

Accepted Answer

A) True 
 B)False

Question 15

_____ occurs because government agencies,government-sponsored commercial contracts,and many big businesses have policies that provide for quotas for purchases from small businesses.

Accepted Answer

A) Second sourcing 
B) Favored purchasing 
C) Market relinquishment 
D) Customer contracting 
A) Second sourcing 
B) Favored purchasing 
C) Market relinquishment 
D) Customer contracting

Question 16

Transformational competencies come from combining tangible and intangible resources in ways superior to the competition.

Accepted Answer

A) True 
 B)False

Question 17

What are the four key decisions you need to make to build the strategy for your firm?

Accepted Answer

Strategy builds on four key decisions yo

Question 18

_____ strategies target a portion of the market called a segment.

Accepted Answer

A) Differentiation 
B) Integration 
C) Cost 
D) Focus 
A) Differentiation 
B) Integration 
C) Cost 
D) Focus

Question 19

Identify and briefly explain any five of the entry wedges specific to small businesses pursing an imitation strategy.

Accepted Answer

The entry wedges that are particularly l

Question 20

Discuss transformational competencies and combinational competencies with an example of each.

Accepted Answer

Transformational competencies happen whe

The strategic direction option,at the end of a SWOT analysis,where opportunities match strength is

Funds left over after deducting the cost of goods sold is called net profit.

What represents the amount of money the owners take out of the firm annually and on which they pay taxes?

Value benefits can include all of the following EXCEPT

Typically with a new product or service,you also have a unique setting.

Which of the following refers to funds left over after deducting the cost of goods sold?

Customization,super-support,and single-mindedness are three cost-driven strategies offered by Porter for small businesses.

Which of the following represent the five stages of industry life cycle?

Explain the process of industry analysis.How can it help an individual in the strategy process?

A _____ is a narrowly defined segment of the population that is likely to share interests or concerns.

A customer group that involves large portions of the population is called a

Demand shortage and second sourcing are two of the seven entry wedges suggested by Karl Vesper for small businesses pursuing an imitation strategy.

A _____ type of life cycle growth stage is marked by a very rapid increase in sales in a relatively short time.

Imitation minus one degree of similarity would be the business equivalent of incremental innovation.

_____ occurs because government agencies,government-sponsored commercial contracts,and many big businesses have policies that provide for quotas for purchases from small businesses.

Transformational competencies come from combining tangible and intangible resources in ways superior to the competition.

What are the four key decisions you need to make to build the strategy for your firm?

_____ strategies target a portion of the market called a segment.

Identify and briefly explain any five of the entry wedges specific to small businesses pursing an imitation strategy.

Discuss transformational competencies and combinational competencies with an example of each.

Small Business: Its Opportunities and Rewards

Small Business Environment: Managing External Relations

Small Business Entrepreneurs: Characteristics and Competencies

Small Business Ideas: Creativity, opportunity, and Feasibility

Small Business Entry: Paths to Part-Time Entrepreneurship

Small Business Entry: Paths to Full-Time Entrepreneurship

Business Plans: Seeing Audiences and Your Business Clearly

Small Business Marketing: Product and Pricing Strategies

Small Business Promotion: Capturing the Eyes of Your Market

Small Business Distribution and Location

Marketing Plans: Saying How Youll Get Sales

Small Business Accounting: Projecting and Evaluating Performance

Cash: Lifeblood of the Business

Small Business Finance: Using Equity,debt,and Gifts

Assets: Inventory and Operations Management

Small Business Protection: Risk Management and Insurance

Legal Issues: Recognizing Your Small Business Needs

Human Resource Management: Small Business Considerations

Achieving Success in the Small Business

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Exam 7: Small Business Strategies: Imitation With a Twist

The strategic direction option,at the end of a SWOT analysis,where opportunities match strength is

Funds left over after deducting the cost of goods sold is called net profit.

What represents the amount of money the owners take out of the firm annually and on which they pay taxes?

Value benefits can include all of the following EXCEPT

Typically with a new product or service,you also have a unique setting.

Which of the following refers to funds left over after deducting the cost of goods sold?

Customization,super-support,and single-mindedness are three cost-driven strategies offered by Porter for small businesses.

Which of the following represent the five stages of industry life cycle?

Explain the process of industry analysis.How can it help an individual in the strategy process?

A _____ is a narrowly defined segment of the population that is likely to share interests or concerns.

A customer group that involves large portions of the population is called a

Demand shortage and second sourcing are two of the seven entry wedges suggested by Karl Vesper for small businesses pursuing an imitation strategy.

A _____ type of life cycle growth stage is marked by a very rapid increase in sales in a relatively short time.

Imitation minus one degree of similarity would be the business equivalent of incremental innovation.

_____ occurs because government agencies,government-sponsored commercial contracts,and many big businesses have policies that provide for quotas for purchases from small businesses.

Transformational competencies come from combining tangible and intangible resources in ways superior to the competition.

What are the four key decisions you need to make to build the strategy for your firm?

_____ strategies target a portion of the market called a segment.

Identify and briefly explain any five of the entry wedges specific to small businesses pursing an imitation strategy.

Discuss transformational competencies and combinational competencies with an example of each.

Small Business: Its Opportunities and Rewards

Small Business Environment: Managing External Relations

Small Business Entrepreneurs: Characteristics and Competencies

Small Business Ideas: Creativity, opportunity, and Feasibility

Small Business Entry: Paths to Part-Time Entrepreneurship

Small Business Entry: Paths to Full-Time Entrepreneurship

Business Plans: Seeing Audiences and Your Business Clearly

Small Business Marketing: Product and Pricing Strategies

Small Business Promotion: Capturing the Eyes of Your Market

Small Business Distribution and Location

Marketing Plans: Saying How Youll Get Sales

Small Business Accounting: Projecting and Evaluating Performance

Cash: Lifeblood of the Business

Small Business Finance: Using Equity,debt,and Gifts

Assets: Inventory and Operations Management

Small Business Protection: Risk Management and Insurance

Legal Issues: Recognizing Your Small Business Needs

Human Resource Management: Small Business Considerations

Achieving Success in the Small Business

Filters