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Question
Entrepreneurial Opportunities are defined as:A.new market entry through entrepreneur action.
B.the entrepreneur's mental processes in deciding whether or not to act on a potential opportunity.
C.a feasibility assessment.
D.situations in which new goods, services, raw materials and organizing methods can be sold at greater than their production cost.
Answer
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In 1994 Robert Mondavi came up with:
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Generally, independent, venture-capital-based start-ups by entrepreneurs tend to outperform corporate start-ups significantly.
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Entrepreneurial activities tend to immediately affect the bottom line, and hence are seldom overlooked and receive extensive funding and support.
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To be the basis of a firm's superior performance over competitors for an extended period of time, valuable and rare resources need to be:
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A narrow scope strategy reduces the risks associated with competition.
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A narrow scope strategy is better than a broad scope strategy in an environment high in uncertainty.
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A narrow scope strategy offers a small product range to a small number of customer groups.
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Adaptations necessary to meet changes in market demand are difficult because an organization resists change.
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First movers suffer a cost disadvantage as they are not able to move down the experience curve.
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The knowledge needed to generate innovation cannot be easily learned from a textbook.
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In the ________ method a new idea is developed through a list of related issues or suggestions.
A.Gordon
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Identify the main disadvantages of being a first-mover.
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Which of the following is a liability of newness?
A.Costs associated with learning new tasks are high.
B.Lack of established routines and processes give the venture a new slate.
C.Communication in informal systems is increased.
D.Market for potential consumers is limited.
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Imitation strategies:
A.require expensive and extensive research.
B.are rare and inimitable.
C.does not provide organizational legitimacy.
D.can enhance a firm's performance.
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_____ refers to the probability, and magnitude, of downside loss.
A.Reward
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C.Liability of newness
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Frequent flier miles would be an example of which barrier to entry?
A.Building customer loyalties
B.Securing access to supply of key resources
C.Creating product uniqueness
D.Building in switching costs
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The costs that must be borne by customers if they are to stop purchasing from the current supplier and begin purchasing from another is(are):
A.customer switching costs.
B.lead time.
C.resource costs.
D.resource bundle errors.
Q:
The U.S. Chamber of Commerce and Small Business Development Centers are good places to get information and assistance in starting a new business.
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Which of the following problem-solving techniques begins with group members not knowing the exact nature of the problem?
A.Parameter analysis
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C.The Gordon method
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Q:
Reverse brainstorming is much like brainstorming except that:
A.criticism is not allowed.
B.the technique is based on finding solutions.
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_____ is not desirable when brainstorming is in process.
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The largest source of new product ideas is:
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B.the entrepreneur's research and development.
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D.the federal government.
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Patents filed with the U.S. Patent Office:
A.are not disclosed to the public.
B.are the property of the U.S. Government.
C.frequently suggest other new products.
D.are only accessible to public limited companies.
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The entrepreneur should always design and build his own webpage to maintain strategic control.
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Only the test marketing phase of product planning provides actual sales results to judge the product's customer appeal.
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In the test market stage of product planning, the refined product idea is tested to determine customer acceptance.
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In the concept stage, the refined idea is tested to determine consumer acceptance.
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Creative synthesis is closely connected to the technique of parameter analysis.