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Exam 8: Entrepreneurial Strategy and Competitive Dynamics

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Question 51

Multiple Choice

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________ provide(s) a key avenue for growth for many young and small firms through partnering to obtain resources and to expand into new markets.

A) Strategic alliances
B) Funding
C) Banking
D) Research and development

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

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Question 52

Multiple Choice

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According to the text,which of the following does not make it difficult for entrepreneurial firms to effectively pursue a strategy of differentiation?

A) Differentiation strategies are often expensive to enact.
B) Incumbent firms are constantly seeking opportunities to specialize in market niches.
C) It may be difficult for a young firm to establish a strong brand identity.
D) Implementing superior new technologies may be challenging for entrepreneurial firms.

E) None of the above
F) All of the above

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Question 53

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New entry into markets,whether by start-ups or by incumbent firms,rarely threatens existing competitors.

Shakespeare & Co.was reimagined in 2015 to meet the current needs of the market when Dan Neller purchased the NY bookstore.He provided a place to find the hottest books,the ability to print more obscure titles,and a rare level of service that made the store feel like a destination.He used which generic strategy to achieve competitive advantages?

Which of the following is not a factor that affects how a competitor will respond to a competitive attack?

In 2005,Plum Organics entered the market with convenient organic baby food and snack foods for children.It now has over 20 products,saw sales grow by 44 percent in 2015,and claims over 7 percent market share in the baby food segment.It used which new entry strategy in 2005?

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

Entrepreneurial new entry is often perceived as a competitive threat to incumbent firms because most market needs are being met,either directly or indirectly,by existing firms.

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

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

The majority of entrepreneurial start-ups are financed with angel financing.

When launching a new venture,finding a way to begin doing business must ________ generate cash flow,build credibility,attract good employees,and overcome the liability of newness.

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

Seeking products or services that have been successful in one market and introducing the same basic product or service in another segment of the market is referred to as ________ new entry.