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Exam 8: Entrepreneurial Strategy and Competitive Dynamics

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Question 1

True/False

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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.

A) True
B) False

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Question 2

Multiple Choice

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Vision is an important element of entrepreneurial leadership because

A) a vision statement is part of the documentation used to obtain venture financing.
B) the entrepreneur has to envision realities that do not yet exist.
C) organizations cannot function without a detailed and operational vision.
D) banking institutions require it.

E) None of the above
F) B) and D)

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Question 3

Multiple Choice

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________ is the process of identifying,selecting,and developing new venture opportunities.

A firm is considering a large price cut on its leading product to gain market share.One executive strongly disagrees with the price cut.He observes that they are in the same marketplace as their rivals and do not have any competitive advantages in their cost structure.If they cut prices,their competitors will likely do the same.The result is that everyone will make less money.These arguments are an example of a

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

Square provides a means for small businesses to process credit and debit card sales without signing up for a traditional credit card arrangement of monthly fees and minimum charges.When its business grew rapidly,Apple,Google,and PayPal responded with ________ actions?

Explain what a pioneering new entry means and when it is appropriate to use it.

Tom Monahan,a business creativity coach,says that every new idea is merely a spin of an old idea.A company that enters the market by offering a product or service that is somewhat new and sufficiently different in order to create value for customers by capitalizing on current trends is using which new entry strategy?

In competitive dynamics,new entrants may be forced to change their strategies or develop new ones to ________ competitive challenges by ________.

The likelihood that a competitor will launch an attack depends upon many factors.Discuss threat analysis and how it is used.

Unilever has taken a dominant position (65 percent market share) in the Vietnamese laundry detergent market by employing an investment and marketing campaign that decimated the market position of the local,incumbent competitors.According to the Stalk and Lachenauer book,this is an example of ________ strategy.

According to the text,new ventures launched by entrepreneurial teams are more likely to be successful than ventures launched by

If similar competitors vie for the same customers in a marketplace,they are likely to escalate their competitive strategy through a reactive series of actions and responses.

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

________ is the intense rivalry involving actions and responses among similar competitors vying for the same customers in a marketplace.

Opportunities can be found through a structured search process.The example of Ancient Ales with their innovative line of craft beers demonstrates which of the following types of structured search?

________ is a value required when an opportunity is attractive long enough for it to be successfully developed and deployed.

Mint entered the market in 2005 with comprehensive online money management systems that tells users what they are spending by aggregating financial information from online bank and credit card accounts.Today it has over 20 million users and is helping them manage over 3 billion USD in assets.It used which new entry strategy in 2005?

Choosing which new entry strategy is best depends on competitive financial and marketplace considerations.The greatest opportunities most likely will be in existing markets,rather than in new markets.

Which of the following is not a primary source of financing for entrepreneurial start-ups?