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Question
When conducting research on a new entry:A.the more information the entrepreneur has, the more difficult it is to focus on the consumer.
B.the entrepreneur must rely upon surveys more that market knowledge.
C.extensive research is expensive in terms of time and money.
D.lesser prior knowledge is advantageous since it minimizes the risk of entrepreneurial bias.
Answer
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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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_____ refers to the probability, and magnitude, of downside loss.
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A.customer switching costs.
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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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