Question 1

The long-run performance of a firm is dependent upon the ability to generate and exploit numerous new entries.

Accepted Answer

A) True 
 B)False

Question 2

The longer the entrepreneur takes to research a new entry,the less accurate customer demand estimates are.

Accepted Answer

A) True 
 B)False

Question 3

The basic building blocks to a firm,or the inputs into the production process,are:

Accepted Answer

A)  competition. 
B)  strategy. 
C)  liabilities. 
D)  resources. 
A)  competition. 
B)  strategy. 
C)  liabilities. 
D)  resources.

Question 4

An error of omission occurs from the decision not to act of a new entry opportunity when in hindsight they should have.

Accepted Answer

A) True 
 B)False

Question 5

By being first to market a product,the venture:

Accepted Answer

A)  tends to lose customer loyalties to late entrants. 
B)  loses out to switching costs. 
C)  secures access to important sources of supply. 
D)  can sell its products and services at a higher price. 
A)  tends to lose customer loyalties to late entrants. 
B)  loses out to switching costs. 
C)  secures access to important sources of supply. 
D)  can sell its products and services at a higher price.

Question 6

The period of time when the environment is favorable for entrepreneurs to exploit a particular new entry is the:

Accepted Answer

A)  market research phase. 
B)  window of opportunity. 
C)  technology window. 
D)  narrow-scope strategy. 
A)  market research phase. 
B)  window of opportunity. 
C)  technology window. 
D)  narrow-scope strategy.

Question 7

A narrow scope strategy is better than a broad scope strategy in an environment high in uncertainty.

Accepted Answer

A) True 
 B)False

Question 8

To overcome customer uncertainty,the venture should educate customer through demonstration and documentation on how to use the product.

Accepted Answer

A) True 
 B)False

Question 9

The period of time when the environment is favorable for entrepreneurs to exploit a particular new entry is called the window of opportunity.

Accepted Answer

A) True 
 B)False

Question 10

Customers always embrace change in products and services.

Accepted Answer

A) True 
 B)False

Question 11

Building customers' switching costs decreases barriers to entry for other firms.

Accepted Answer

A) True 
 B)False

Question 12

The ability to obtain,and then recombine,resources into a bundle represents an important entrepreneurial resource.Knowledge is the basis of this entrepreneurial resource.Briefly explain knowledge in general as well as market and technological knowledge.

Accepted Answer

Knowledge is built up over time through

Question 13

The knowledge needed to generate innovation cannot be easily learned from a textbook.

Accepted Answer

A) True 
 B)False

Question 14

Frequent flier miles would be an example of which barrier to entry

Accepted Answer

A)  Building customer loyalties 
B)  Securing access to supply of key resources 
C)  Creating product uniqueness 
D)  Building in switching costs 
A)  Building customer loyalties 
B)  Securing access to supply of key resources 
C)  Creating product uniqueness 
D)  Building in switching costs

Question 15

If there is a poor fit between its resources and the external environment,then the firm will not enjoy superior performance.

Accepted Answer

A) True 
 B)False

Question 16

Adaptations necessary to meet changes in market demand are difficult because an organization resists change.

Accepted Answer

A) True 
 B)False

Question 17

Later movers do not face:

Accepted Answer

A)  entrenched competitors. 
B)  high growth markets. 
C)  lower market uncertainty. 
D)  reduced uncertainty over technologies. 
A)  entrenched competitors. 
B)  high growth markets. 
C)  lower market uncertainty. 
D)  reduced uncertainty over technologies.

Question 18

A broad-scope market strategy:

Accepted Answer

A)  focuses on producing customized products. 
B)  provides substantial protection against competitors. 
C)  is used to reduce market uncertainty. 
D)  is based primarily on product quality. 
A)  focuses on producing customized products. 
B)  provides substantial protection against competitors. 
C)  is used to reduce market uncertainty. 
D)  is based primarily on product quality.

Question 19

Newness of a new entry is always an advantage.

Accepted Answer

A) True 
 B)False

Question 20

The decision to exploit or not to exploit a new entry opportunity depends on whether the entrepreneur has sufficient information,and on whether the window of opportunity is still open.

Accepted Answer

A) True 
 B)False

The long-run performance of a firm is dependent upon the ability to generate and exploit numerous new entries.

The longer the entrepreneur takes to research a new entry,the less accurate customer demand estimates are.

The basic building blocks to a firm,or the inputs into the production process,are:

An error of omission occurs from the decision not to act of a new entry opportunity when in hindsight they should have.

By being first to market a product,the venture:

The period of time when the environment is favorable for entrepreneurs to exploit a particular new entry is the:

A narrow scope strategy is better than a broad scope strategy in an environment high in uncertainty.

To overcome customer uncertainty,the venture should educate customer through demonstration and documentation on how to use the product.

The period of time when the environment is favorable for entrepreneurs to exploit a particular new entry is called the window of opportunity.

Customers always embrace change in products and services.

Building customers' switching costs decreases barriers to entry for other firms.

The ability to obtain,and then recombine,resources into a bundle represents an important entrepreneurial resource.Knowledge is the basis of this entrepreneurial resource.Briefly explain knowledge in general as well as market and technological knowledge.

The knowledge needed to generate innovation cannot be easily learned from a textbook.

Frequent flier miles would be an example of which barrier to entry

If there is a poor fit between its resources and the external environment,then the firm will not enjoy superior performance.

Adaptations necessary to meet changes in market demand are difficult because an organization resists change.

Later movers do not face:

A broad-scope market strategy:

Newness of a new entry is always an advantage.

The decision to exploit or not to exploit a new entry opportunity depends on whether the entrepreneur has sufficient information,and on whether the window of opportunity is still open.

The Entrepreneurial Mind-Set

Corporate Entrepreneurship

Creativity and the Business Idea

Identifying and Analyzing Domestic and International Opportunities

Protecting the Idea and Other Legal Issues for the Entrepreneur

The Business Plan: Creating and Starting the Venture

The Marketing Plan

The Organizational Plan

The Financial Plan

Sources of Capital

Informal Risk Capital, Venture Capital, and Going Public

Strategies for Growth and Managing the Implication of Growth

Accessing Resources for Growth From External Sources

Succession Planning and Strategies for Harvesting and Ending the Venture

Filters

Exam 3: Generating and Exploiting New Entries

The long-run performance of a firm is dependent upon the ability to generate and exploit numerous new entries.

The longer the entrepreneur takes to research a new entry,the less accurate customer demand estimates are.

The basic building blocks to a firm,or the inputs into the production process,are:

An error of omission occurs from the decision not to act of a new entry opportunity when in hindsight they should have.

By being first to market a product,the venture:

The period of time when the environment is favorable for entrepreneurs to exploit a particular new entry is the:

A narrow scope strategy is better than a broad scope strategy in an environment high in uncertainty.

To overcome customer uncertainty,the venture should educate customer through demonstration and documentation on how to use the product.

The period of time when the environment is favorable for entrepreneurs to exploit a particular new entry is called the window of opportunity.

Customers always embrace change in products and services.

Building customers' switching costs decreases barriers to entry for other firms.

The ability to obtain,and then recombine,resources into a bundle represents an important entrepreneurial resource.Knowledge is the basis of this entrepreneurial resource.Briefly explain knowledge in general as well as market and technological knowledge.

The knowledge needed to generate innovation cannot be easily learned from a textbook.

Frequent flier miles would be an example of which barrier to entry

If there is a poor fit between its resources and the external environment,then the firm will not enjoy superior performance.

Adaptations necessary to meet changes in market demand are difficult because an organization resists change.

Later movers do not face:

A broad-scope market strategy:

Newness of a new entry is always an advantage.

The decision to exploit or not to exploit a new entry opportunity depends on whether the entrepreneur has sufficient information,and on whether the window of opportunity is still open.

The Entrepreneurial Mind-Set

Corporate Entrepreneurship

Creativity and the Business Idea

Identifying and Analyzing Domestic and International Opportunities

Protecting the Idea and Other Legal Issues for the Entrepreneur

The Business Plan: Creating and Starting the Venture

The Marketing Plan

The Organizational Plan

The Financial Plan

Sources of Capital

Informal Risk Capital, Venture Capital, and Going Public

Strategies for Growth and Managing the Implication of Growth

Accessing Resources for Growth From External Sources

Succession Planning and Strategies for Harvesting and Ending the Venture

Filters