Question 1

Imitation of other products increases the downside loss associated with new entry.

Accepted Answer

A) True 
 B)False

Question 2

The set of decisions,actions,and reactions that first generate,and then exploit over time,a new entry is:

Accepted Answer

A) entrepreneurial financing. 
B) entrepreneurial strategy. 
C) bootstrapping. 
D) informal organization. 
A) entrepreneurial financing. 
B) entrepreneurial strategy. 
C) bootstrapping. 
D) informal organization.

Question 3

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 4

When an entrepreneur pursues a new entry opportunity only to find out later that he or she had overestimated his or her ability to create customer demand it is a(n):

Accepted Answer

A) technological error. 
B) window of opportunity. 
C) error of omission. 
D) error of commission. 
A) technological error. 
B) window of opportunity. 
C) error of omission. 
D) error of commission.

Question 5

Key success factors are the requirements that any firm must meet to successfully compete in a particular industry.

Accepted Answer

A) True 
 B)False

Question 6

The entrepreneur's market knowledge is deeper than the knowledge that could be gained through market research.

Accepted Answer

A) True 
 B)False

Question 7

The costs that must be borne by customers if they are to stop purchasing from the current supplier and begin purchasing from another is(are):

Accepted Answer

A) customer switching costs. 
B) lead time. 
C) resource costs. 
D) resource bundle errors. 
A) customer switching costs. 
B) lead time. 
C) resource costs. 
D) resource bundle errors.

Question 8

A "me-too" strategy consists of copying products that already exist and attempting to build an advantage through minor variations.

Accepted Answer

A) True 
 B)False

Question 9

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

Accepted Answer

A) True 
 B)False

Question 10

Explain what constitutes a new entry.

Accepted Answer

New entry refers to (1)offering a new pr

Question 11

Entrepreneurs that delay entry have the advantage of more information about market demand.

Accepted Answer

A) True 
 B)False

Question 12

First movers suffer a cost disadvantage as they are not able to move down the experience curve.

Accepted Answer

A) True 
 B)False

Question 13

Justin Parer has created flexibility over the money side of the business and control over how strategies are formed.

Accepted Answer

A) True 
 B)False

Question 14

Does Justin Parer have passion for his entrepreneurial businesses.

Accepted Answer

A) True 
 B)False

Question 15

A new entry includes all of the following except:

Accepted Answer

A) Offering a new product to a new market 
B) Offering an established product to an new market 
C) Creating a new brand name for your company 
D) Creating a new organization 
A) Offering a new product to a new market 
B) Offering an established product to an new market 
C) Creating a new brand name for your company 
D) Creating a new organization

Question 16

First movers can monitor changes in the market that might be difficult or impossible to detect for those firms not participating in the market.

Accepted Answer

A) True 
 B)False

Question 17

Explain the three major causes of "liabilities of newness."

Accepted Answer

-New organizations face costs in learnin

Question 18

By being first to market a product,the venture:

Accepted Answer

A) can 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) can 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 19

In emerging industries:

Accepted Answer

A) environmental factors do not affect customer demand. 
B) entrepreneurs confront demand certainty. 
C) environmental changes are highly likely. 
D) it is easier to respond effectively to sudden changes. 
A) environmental factors do not affect customer demand. 
B) entrepreneurs confront demand certainty. 
C) environmental changes are highly likely. 
D) it is easier to respond effectively to sudden changes.

Question 20

Which is the best way to gain knowledge about a potential new entry?

Accepted Answer

A) Marketing research 
B) Internet research 
C) Entrepreneur's market experience and knowledge. 
D) Surveys 
A) Marketing research 
B) Internet research 
C) Entrepreneur's market experience and knowledge. 
D) Surveys

Imitation of other products increases the downside loss associated with new entry.

The set of decisions,actions,and reactions that first generate,and then exploit over time,a new entry is:

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

When an entrepreneur pursues a new entry opportunity only to find out later that he or she had overestimated his or her ability to create customer demand it is a(n):

Key success factors are the requirements that any firm must meet to successfully compete in a particular industry.

The entrepreneur's market knowledge is deeper than the knowledge that could be gained through market research.

The costs that must be borne by customers if they are to stop purchasing from the current supplier and begin purchasing from another is(are):

A "me-too" strategy consists of copying products that already exist and attempting to build an advantage through minor variations.

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

Explain what constitutes a new entry.

Entrepreneurs that delay entry have the advantage of more information about market demand.

First movers suffer a cost disadvantage as they are not able to move down the experience curve.

Justin Parer has created flexibility over the money side of the business and control over how strategies are formed.

Does Justin Parer have passion for his entrepreneurial businesses.

A new entry includes all of the following except:

First movers can monitor changes in the market that might be difficult or impossible to detect for those firms not participating in the market.

Explain the three major causes of "liabilities of newness."

By being first to market a product,the venture:

In emerging industries:

Which is the best way to gain knowledge about a potential new entry?

Entrepreneurship and the Entrepreneurial Mind-Set

Entrepreneurial Intentions and Corporate Entrepreneurship

Creativity and the Business Idea

Identifying and Analyzing Domestic and International Opportunities

Intellectual Property 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: Entrepreneurial Strategy: Generating and Exploiting New Entries

Imitation of other products increases the downside loss associated with new entry.

The set of decisions,actions,and reactions that first generate,and then exploit over time,a new entry is:

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

When an entrepreneur pursues a new entry opportunity only to find out later that he or she had overestimated his or her ability to create customer demand it is a(n):

Key success factors are the requirements that any firm must meet to successfully compete in a particular industry.

The entrepreneur's market knowledge is deeper than the knowledge that could be gained through market research.

The costs that must be borne by customers if they are to stop purchasing from the current supplier and begin purchasing from another is(are):

A "me-too" strategy consists of copying products that already exist and attempting to build an advantage through minor variations.

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

Explain what constitutes a new entry.

Entrepreneurs that delay entry have the advantage of more information about market demand.

First movers suffer a cost disadvantage as they are not able to move down the experience curve.

Justin Parer has created flexibility over the money side of the business and control over how strategies are formed.

Does Justin Parer have passion for his entrepreneurial businesses.

A new entry includes all of the following except:

First movers can monitor changes in the market that might be difficult or impossible to detect for those firms not participating in the market.

Explain the three major causes of "liabilities of newness."

By being first to market a product,the venture:

In emerging industries:

Which is the best way to gain knowledge about a potential new entry?

Entrepreneurship and the Entrepreneurial Mind-Set

Entrepreneurial Intentions and Corporate Entrepreneurship

Creativity and the Business Idea

Identifying and Analyzing Domestic and International Opportunities

Intellectual Property 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