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Exam 8: Entrepreneurial Strategy and Competitive Dynamics

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Question 61

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Strategic competitive actions include all of the following except

A) new product introductions.
B) mergers and alliances.
C) product and service enhancements.
D) changing production capacity.

E) B) and C)
F) C) and D)

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Question 62

Multiple Choice

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When a company chooses to use guerilla marketing, it is using a ________________ competitive action.

A) strategic
B) tactical
C) focused advantage
D) differentiated

E) B) and C)
F) A) and D)

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Question 63

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

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

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

Entrepreneurial competitive dynamics refers to a cycle of actions and responses between firms competing for the same customers.

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

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

To obtain venture capital financing, business founders rarely have to give up some ownership and control of their business.

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

According to the textbook, which of the following is NOT a common new entry strategy?

Which of the following is NOT one of the characteristics of an entrepreneurial opportunity?

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

When any two firms have both a high degree of market commonality and highly similar resources, a ______________ threat is present.

Because new ventures typically are small, they usually do not have high economies of scale relative to competitors.