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Exam 8: Entrepreneurial Strategy and Competitive Dynamics

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Question 21

Multiple Choice

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According to the text,for an entrepreneurial start-up to be successful,three ingredients are critical.What are they?

A) good ideas, a team of investors, and a business plan
B) a viable opportunity, available resources, and a qualified and motivated founding team
C) an opportunity, a marketing plan, and office space
D) management, marketing, and money

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

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Question 22

Multiple Choice

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Tuft and Needle makes mattresses,according to Strategy Spotlight 8.5 in the textbook.Which generic strategy most closely represents theirs?

A) differentiation
B) overall cost leadership
C) focus
D) combination

E) All of the above
F) A) and B)

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Question 23

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Swedish breweries cooperate in recycling used bottles and therefore have no way to differentiate their offers in the minds of the customer.

Generally speaking,the opportunity recognition process consists of two phases of activity.They are ______________ and _____________.

Private individuals who provide seed capital to young ventures are known as

Hollywood cooperation is responsible for saving some of the Kodak film manufacturing business,because the studios agreed to cooperate on buying movie film.

Which of the following refers to a situation where a company has a high concentration of its business in a particular industry market?

Market commonality is the extent to which rivals draw from the same types of resources.

Opportunity recognition involves two phases of activity: discovery and execution.

Aircraft makers Boeing and Airbus have a high degree of ______________ because they make very similar products and have many buyers in common.

One of the most important considerations for a new entrant is the type of strategic positioning to choose that will help the business move forward.

Entrepreneurial firms are often in a strong position to use combination strategies,because they have the flexibility to approach situations uniquely.

Which of the following is NOT one of the three characteristics of entrepreneurial leadership mentioned by the text?

Southwest Airlines began its no frills,no meals strategy in the late 1960s as a direct assault on the major carriers of the day.What type of competitive action does this represent?

BCG authors Stalk and Lachenauer published a book in which they listed competitive strategy for winning against incumbent rivals.Which of the following is not one of their suggested strategies?

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?

Venture capital funding for entrepreneurial ventures is usually available only after the start-up has become a going concern and established a track record.

Which of the following statements about venture capital is not true?

Running Press launched the Miniature Editions line of books in 1993.Today it has sold over 20 million copies.Which of the following most closely represents their strategy?

Angel investors are private individuals who provide equity investments for seed capital during the later stages of a new venture.