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Exam 8: Entrepreneurial Strategy and Competitive Dynamics

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Question 31

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The evaluation phase of opportunity recognition occurs when an entrepreneur has an insight about a new business venture,often based on prior knowledge.

A) True
B) False

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Question 32

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If a start-up enters a market with a broad or aggressive strategy,it is likely to evoke little retaliation from a more powerful competitor.

A) True
B) False

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Question 33

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Angel investors are always public institutions which provide seed capital to young ventures.

Which of the following is not a common source of new business opportunities?

Colgate-Palmolive,Unilever,Proctor and Gamble,and Henkel cooperated legally when they agreed to prearranged prices at which they would sell to retailers.

Entrepreneurial firms that pursue a low-cost leadership strategy use all of the following to achieve lower costs except

Smell-O-Vision created an invention that would pump odors into movie theatres.It did not make it to market.This was an attempt to be an adaptive entry strategy.

In competitive dynamics,new entrants may be force to change their strategies or develop new ones to _______ competitive challenges by _____________.

The most threatening competitor to new entrants are close competitors,because they have similar structural features that help them adjust quickly and be flexible in decision making.

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

The Amazon approach to selling books,using the Internet and offering superior customer service,gave it a strong entry strategy.This is an example of a focus strategy.

Adaptive new entry involves offering a radical new product or highly innovative service.

Developed in 1993,WorldWideWeb,later named Nexus,was the first web browser.It radically changed how users access information on the Internet.This is an example of a pioneering new entry strategy.

Which of the following is not one of the reasons a company might launch new competitive actions?

The success of an adaptive new entrant can be limited,if the value proposition is perceived as being unique.

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

Competitors with similar offers find that a new entrant is threatening because

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?

Small businesses create the majority of new jobs in the U.S.economy.

To be successful within a market niche,the key strategic requirement is to have a good differentiation strategy.