Exam 2: Entrepreneurial Opportunities: Their Origins, Forms, and Suitability For New Ventures

Entrepreneurial opportunities usually come from information that people have that helps them to recognize opportunities and from changes in the external world.

Explain why the concept of a dominant design is important to entrepreneurship.

List and discuss the four dimensions of industry differences that influence the relative success of new firms.

Which of the following is/are part(s)of the knowledge conditions in an industry?

Explain why an industry that has a greater R&D intensity tends to be more favorable to a new business than an industry that has a low R&D intensity.

New businesses tend to do better when their business ideas are embedded in

Spanish speaking immigrants have entered the country and opportunities for supermarkets with lines of Latin American foods and Spanish language radio stations have grown in many parts of the United States. This is an example of which of the three major sources of opportunity?

Capital intensity in an industry refers to

Research suggests that changes in regulations are the most important source of entrepreneurial opportunities.

Entrepreneurs face a fixed cost to found new firms. When this cost is amortized,the expected returns to founding a firm are _____ in a larger market than in a smaller market.

Business ideas to exploit new products are often better forms of opportunity exploitation than business ideas to exploit new methods of production.

___________ refers to how much market share lies in the hands of the largest firms in the industry.

Which of the following are the three attributes of demand conditions that enhance new firm formation?

Assume that changes in technology provide opportunities. Which of the following refers to the source of the technology that provides opportunities?

A common approach,or standard,used to make a product is known as a

It is probably easier for a new firm to enter a fragmented industry than a concentrated industry.

Identify the five ways to develop an opportunity that are presented in chapter two. Explain how they are different from the sources of opportunity.

The economist who argues that truly valuable entrepreneurial opportunities come from an external change that either makes it possible to do things that had not been done before or makes it possible to do something in a more valuable way is

Researchers have identified four aspects of the structure of an industry that make it easier for a person to found a successful new firm. Which of the following is NOT one of those four?

Why might a new business perform better in markets that are growing quickly?