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Exam 8: Entrepreneurial Strategy and Competitive Dynamics

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Question 51

Multiple Choice

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Casper Sleep makes mattresses,according to Strategy Spotlight 8.3 in the textbook.Which generic strategy most closely represents theirs?

A) differentiation
B) low-cost leadership
C) focus
D) combination

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

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Question 52

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Which of the following is the most important resource for a start-up activity?

A) social recognition
B) land
C) personnel
D) money

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

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Question 53

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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?

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

Walmart began offering low-priced extended warranties on home electronics after learning that its rivals such as Best Buy derived most of their profits from extended warranties.According to the Stalk and Lachenauer book,this is an example of the strategy to

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.

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

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

Which of the following is not one of the reasons a company might launch new competitive actions?

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

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

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?

Founded in 1995,Under Armour,Inc.sells undershirts and other athletic gear using moisture-wicking fabric for sweaty sports.By 2016,it reached the number two athletic clothing firm spot with over 4.5 billion in sales.It used which new entry strategy in 2005?

Forbearance is a particularly aggressive type of competitive attack.