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Exam 8: Entrepreneurial Strategy and Competitive Dynamics

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Question 41

Multiple Choice

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When a company chooses to maintain low-price dominance,it is using which tactical action?

A) product and service enhancements
B) price cutting
C) increased marketing efforts
D) changing production capacity

E) A) and B)
F) All of the above

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Question 42

Multiple Choice

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The majority of entrepreneurial start-ups are financed through monies from

A) bank financing.
B) SBA loans.
C) personal savings and the contributions of family and friends.
D) venture-capital financing.

E) C) and D)
F) All of the above

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Question 43

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The first personal computer revolutionized computing and how business is conducted.It was using a(n) ________ entry strategy.

________ are private individuals who provide seed capital to young ventures.

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

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

The business-to-business cleaning supply company,Ecolab,encouraged a leading competitor,Diversity,to adopt a strategy to go after low-volume,high-margin customers.What Ecolab knew that Diversity did not is that the high servicing costs involved with the segment makes it unprofitable.Ecolab bid high enough to lose the contracts to Diversity but low enough to ensure that Diversity lost money.According to the Stalk and Lachenauer book,this is an example of the strategy to

Smell-O-Vision designed an invention to pump odors into movie theatres.It flopped,in spite of its innovativeness.What kind of new entry strategy was the company using to penetrate the market?

When GM offers discounts and incentives,rivals Ford and Chrysler cannot afford to ignore the challenge and quickly follow suit.Which one of the following is a reason Ford and Chrysler are more likely to respond?

Which of the following refers to a situation where a company has a high concentration of its business in a particular industry market?

How can new ventures successfully deploy cost-leadership strategies given that they are not likely to be in a position to take advantage of economies of scale,or have the capital to increase scale economies,or have the knowledge gained from experience to make cost-saving improvements?

When an industry is mature,a(n) ________ strategy is considered one of the most effective approaches for a new entrant.

An entry wedge is a type of entrepreneurial strategy firms can use to enter into business.

Which of the following is not one of the three characteristics of entrepreneurial leadership mentioned by the text?

Forbearance is a particularly aggressive type of competitive attack.

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

New ventures may find it difficult to use differentiation strategies successfully because they lack ________ and ________.

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?

The Amazon approach to selling books,using the Internet and offering superior customer service,gave it a strong entry strategy.This is an example of a focus strategy.

Jeannine Fradelizio noticed that at parties she hosted,guests would set down their wine glasses and forget which one was their glass.She designed the Wine Glass Writer to solve this problem.She used the process of