Exam 6: Assessment of Entrepreneurial Opportunities

With a nonroutine venture, the initial innovation will maintain the company's competitive advantage without new technology.

A feasibility criteria approach focuses strictly on the financial feasibility of a new venture.

A checklist approach allows the entrepreneur to identify major strengths and weaknesses in factors of a new venture.

One of the external problems new ventures face is

Which of the following is a major reason for the failure of a new venture?

Overall market understanding rather than a time-consuming focus on market niches is sufficient for an evaluation.

A solid analysis is

Hiring and promotions on the basis of nepotism rather than qualification fall under the managerial problem of

In recent studies of new venture problems, dominant problems at start-up were related to:

Timing is especially critical in which area?

The decision of an entrepreneur to ignore the market is a safe one if he or she is sure that the idea will be a success.

In recent studies of new venture problems, dominant problems during the growth stage were related to

What are the five specific feasibility phases that a new venture will go through?

Solid analysis and evaluation of the feasibility of the product/service idea are critical tasks in starting a new business.

General sources for a market feasibility analysis include

Which formula defines the quick ratio?

The comprehensive feasibility approach is closely related to

The growth pattern of sales is critical for an entrepreneur to make correct forecasts.

Lack of finished product availability can affect

Market feasibility analysis relies on