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Exam 8: Entrepreneurial Strategy and Competitive Dynamics

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Question 41

True/False

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Founders using a pioneering new entry strategy look for opportunities to capitalize on proven market successes.

A) True
B) False

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Question 42

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In 2005,Plum Organics entered the market with organic baby food and snack foods for children.It now has over 20 products and is listed at number 63 on the Inc 500 list of fastest growing private companies.It used which new entry strategy in 2005?

A) imitative
B) pioneering
C) adaptive
D) differentiated

E) All of the above
F) None of the above

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Question 43

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Once an adaptive entrant has achieved initial success,the company is safe from copycat competition.

The process of identifying,selecting,and developing new venture opportunities is known as _____________.

Running Press created a line of palm-sized mini books that were sold as point-of-sale impulse items.The company grew rapidly,even though it had a small fraction of the sales in the publishing industry.They used a pure overall cost leadership strategy to capture market share.

Compare and contrast market commonality and resource similarity.

As investors,venture capitalists rarely provide any help or services to entrepreneurial firms other than financing.

Discuss the four characteristics of an entrepreneurial opportunity.Explain why each is important for the opportunity to be viable.

Explain how differentiation strategy is used by new ventures to achieve competitive advantage.Provide an example.

What is the role of opportunity recognition in the new venture development process?

Venture capitalists and angel investors regard the management team as the most important asset of an entrepreneurial venture.

Explain the pitfalls that are associated with a pioneering new entry and the implications these have for new entrants with high technology offers.

The U.S.Small Business Administration supports small business through all of the following EXCEPT

Define the term competitive dynamics.Then,describe the cycle of actions and responses that are characteristic of a competitive dynamics process.

Market commonality refers to the extent to which competitors are vying for the same customers in the same markets.

______________ provide(s) a key avenue for growth for many young and small firms through partnering to obtain resources and/or expand into new markets.

Which of the following is not a factor that affects how a competitor will respond to a competitive attack?

All of the following are examples of strategic actions a firm might take EXCEPT _____________.

Smell-O-Vision designed an invention to pump odors into movie theatres.It flopped,in spite of its innovativeness.What kind of new entry strategy was the company using to penetrate the market?

Forbearance is a particularly aggressive type of competitive attack.