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Exam 8: Entrepreneurial Strategy and Competitive Dynamics

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Question 21

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

A) Gazelles
B) Angels
C) Cash cows
D) Rising stars

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

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Question 22

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Precision Hawk,a company using drones to do aerial data analysis reached out to Hahn Estate Winery to understand their needs in analyzing crop health.Precision Hawk was conversing with Hahn Estate Winery in order to

A) offer to build a new winery.
B) get into wine production.
C) develop a focus strategy.
D) identify an opportunity.

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

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Question 23

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

Spanx,the footless pantyhose and other undergarments for women company was founded in 2000.It combined nylon and Lycra to create a new type of undergarment that is comfortable and eliminates panty lines.It now produces over 200 products,generating over 250 million USD in annual sales.It used which new entry strategy in 2005?

The Wall Street Journal and New York Times have seen the intensity of their rivalry increase.One factor driving this is that The Wall Street Journal has moved from financial news reporting to general national and global news reporting and finally,to adding local New York news.The rivalry of these two news providers has increased due to

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

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

If similar competitors vie for the same customers in a marketplace,they are likely to escalate their competitive strategy through a reactive series of actions and responses.

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

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.

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?

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?

Strategic competitive actions include all the following except

A small firm may be unable to mount a serious attack due to lack of resources.As a result,it is more likely to react to ________ actions,such as incentive pricing or enhanced service offerings,because they are less costly to attack than large-scale strategic actions.

Opportunities can be found through a structured search process.The example of Ancient Ales with their innovative line of craft beers demonstrates which of the following types of structured search?

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

In designing its smartphones,Samsung copied the look,feel,and technological attributes of the Apple iPhone.By copying Apple,Samsung was able to improve its market position.According to the Stalk and Lachenauer book,this is an example of strategy to

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

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