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Exam 8: Entrepreneurial Strategy and Competitive Dynamics

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Question 51

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A focus strategy must not include elements of differentiation and overall cost leadership in order to be successful.

A) True
B) False

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Question 52

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

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B) False

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Question 53

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Entrepreneurship refers to new value creation and can include activities in major corporations.

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?

Discuss the role of informal investments versus venture-capital financing as it is used by entrepreneurial ventures.What are the advantages and disadvantages of each type?

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

According to a study by the Kaufmann Foundation,which of the following is the largest source of funding for businesses that have been operating at least five years?

The success of an adaptive new entrant can be limited,if the value proposition is perceived as being unique.

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

The term,angel investors,refers to private individuals who provide seed capital to young ventures.

The best example of a tactical action that a company might use in response to a competitive attack is to _____________.

When attacked,older and larger firms tend to respond more quickly,but their responses are often more predictable.

A firm is considering a large price cut on its leading product as a way 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 end result is that everyone will make less money.These arguments are an example of ________________.

Cutting prices or increasing marketing efforts are examples of tactical competitive actions.

In the context of competitive dynamics,tactical actions involve major commitments of distinctive and specific resources to strategic initiatives.

The new entry strategy that a firm choses is dependent upon the ______________ and the ______________ of the new business concept.

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?

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

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

Venture capital is a form of public equity financing used to help young firms grow rapidly.