Question 1

For the past several years the borrowing interest rates has been very low in the United States.This is an example of a(n)______________ trend.

Accepted Answer

A) economic 
B) sociocultural 
C) political/legal 
D) demographic 
A) economic 
B) sociocultural 
C) political/legal 
D) demographic

Question 2

As the success of the athletic teams at O-MY-U skyrocketed,so did attendance at the games.Out-of-town visitors found all the hotels fully booked.So Bob and Shirley opened their home to guests on weekends,operating as a bed-and-breakfast.Soon many of their neighbors did the same and Bob and Shirley found they could no longer fill all their rooms every game weekend.How would Michael Porter explain this?

Accepted Answer

A) The focus strategy was imitated. 
B) Demand disappeared. 
C) The target segment lost its uniqueness. 
D) The industry became further segmented. 
A) The focus strategy was imitated. 
B) Demand disappeared. 
C) The target segment lost its uniqueness. 
D) The industry became further segmented.

Question 3

Alyson and Andrea,country artists,realized that their love of classic rock was also popular with their fans.Their change to their show to incorporate more rock songs with a country flavor is an example of

Accepted Answer

A) recognizing a hot trend and riding the wave. 
B) combining two businesses into one to create a market opening. 
C) beginning with a problem in mind. 
D) finding a way to adapt a product or service to meet customer needs in a different way. 
A) recognizing a hot trend and riding the wave. 
B) combining two businesses into one to create a market opening. 
C) beginning with a problem in mind. 
D) finding a way to adapt a product or service to meet customer needs in a different way.

Question 4

Which of the following could be considered a core competency?

Accepted Answer

A) Zappos' 365 day return policy 
B) NutriSystem's claim that users lose weight by eating 
C) McDonald's ability to fry hamburgers quickly 
D) Southwest Airlines' ability to make flying fun 
A) Zappos' 365 day return policy 
B) NutriSystem's claim that users lose weight by eating 
C) McDonald's ability to fry hamburgers quickly 
D) Southwest Airlines' ability to make flying fun

Question 5

An increase in the bargaining power of suppliers

Accepted Answer

A) increases both the attractiveness and the profitability of the target market. 
B) decreases both the attractiveness and the profitability of the target market. 
C) decreases the attractiveness and increases the profitability of the target market. 
D) increases the attractiveness and decreases the profitability of the target market. 
A) increases both the attractiveness and the profitability of the target market. 
B) decreases both the attractiveness and the profitability of the target market. 
C) decreases the attractiveness and increases the profitability of the target market. 
D) increases the attractiveness and decreases the profitability of the target market.

Question 6

An inside-out analysis is one that:

Accepted Answer

A) considers the general environment and industry setting. 
B) catalogs the startup's sources of potential strengths. 
C) considers the strengths of buyers and suppliers. 
D) catalogs the possible responses of rivals in the industry. 
A) considers the general environment and industry setting. 
B) catalogs the startup's sources of potential strengths. 
C) considers the strengths of buyers and suppliers. 
D) catalogs the possible responses of rivals in the industry.

For the past several years the borrowing interest rates has been very low in the United States.This is an example of a(n)______________ trend.

Alyson and Andrea,country artists,realized that their love of classic rock was also popular with their fans.Their change to their show to incorporate more rock songs with a country flavor is an example of

Which of the following could be considered a core competency?

An increase in the bargaining power of suppliers

An inside-out analysis is one that:

The Entrepreneurial Lifethe Entrepreneurial Life

Integrity, ethics, and Social Entrepreneurship

Franchises and Buyouts

The Family Business

The Business Plan: Visualizing the Dream

The Marketing Plan

The Organizational Plan: Teams, legal Structures, alliances, and Directors

The Location Plan

Understanding a Firms Financial Statements

Forecasting Financial Requirements

A Firms Sources of Financing

Planning for the Harvest

Building Customer Relationships

Product Development and Supply Chain Management

Pricing and Credit Decisions

Promotional Planning

Global Opportunities for Small Business

Professional Management and the Small Business

Managing Human Resources

Managing Small Business Operations

Managing the Firms Assets

Managing Risk

Filters

Exam 3: Starting a Small Business

For the past several years the borrowing interest rates has been very low in the United States.This is an example of a(n)______________ trend.

Alyson and Andrea,country artists,realized that their love of classic rock was also popular with their fans.Their change to their show to incorporate more rock songs with a country flavor is an example of

Which of the following could be considered a core competency?

An increase in the bargaining power of suppliers

An inside-out analysis is one that:

The Entrepreneurial Lifethe Entrepreneurial Life

Integrity, ethics, and Social Entrepreneurship

Franchises and Buyouts

The Family Business

The Business Plan: Visualizing the Dream

The Marketing Plan

The Organizational Plan: Teams, legal Structures, alliances, and Directors

The Location Plan

Understanding a Firms Financial Statements

Forecasting Financial Requirements

A Firms Sources of Financing

Planning for the Harvest

Building Customer Relationships

Product Development and Supply Chain Management

Pricing and Credit Decisions

Promotional Planning

Global Opportunities for Small Business

Professional Management and the Small Business

Managing Human Resources

Managing Small Business Operations

Managing the Firms Assets

Managing Risk

Filters