Entrepreneurial Strategy And Competitive Dynamics

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Questions Bank

Strategic Management: Creating Competitiveadvantages
Analyzing the External Environment Ofthe Firm: Creating Competitive Advantages
Assessing the Internal Environmentof the Firm
Recognizing a Firms Intellectual Assets: Moving Beyond a Firms Tangibleresources
Business-Level Strategy: Creating Andsustaining Competitive Advantages
Corporate-Level Strategy: Creatingvalue Through Diversification
International Strategy: Creating Valuein Global Markets
Entrepreneurial Strategy and Competitive Dynamics
Strategic Control and Corporategovernance
Creating Effective Organizational Designs
Strategic Leadership: Creating a Learning Organization and an Ethical Organization
Managing Innovation and Fosteringcorporate Entrepreneurship

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Question 1

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

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Question 2

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

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Question 3

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Opportunity recognition is the process of identifying,selecting,and developing entrepreneurial opportunities.

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Question 4

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Opportunity recognition involves two phases of activity: discovery and execution.

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Question 5

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The evaluation phase of opportunity recognition occurs when an entrepreneur has an insight about a new business venture,often based on prior knowledge.

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Question 6

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The majority of entrepreneurial start-ups are financed with personal savings and the contributions of family and friends.

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Question 7

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The majority of entrepreneurial firms are started with financing from venture capitalists and banks.

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Question 8

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Angel investors are private individuals who provide equity investments for seed capital during the later stages of a new venture.

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Question 9

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As investors,venture capitalists rarely provide any help or services to entrepreneurial firms other than financing.

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Question 10

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Venture capital funding for entrepreneurial ventures is usually available only after the start-up has become a going concern and established a track record.

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Question 11

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

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Question 12

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

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Question 13

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To obtain venture capital financing,business founders often have to give up some ownership and control of their business.

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Question 14

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Venture capitalists and angel investors regard the management team as the most important asset of an entrepreneurial venture.

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Question 15

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Because of the Small Business Administration and government regulations,small businesses are rarely allowed to bid on government contracts.

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Question 16

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

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Question 17

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Founders using a pioneering new entry strategy look for opportunities to capitalize on proven market successes.

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Question 18

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Adaptive new entry involves offering a radical new product or highly innovative service.

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Question 19

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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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Question 20

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Spandex,founded in 2000,created footless pantyhose and other undergarments for women.This is an example of an imitative new entry strategy.

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