Exam 3: Entrepreneurial Strategy: Generating and Exploiting New Entries

A franchise is the instrument used to protect the owner of the technology from people imitating the technology.

Emerging industries are industries that have been around for years but are just starting to experience explosive growth.

A disadvantage of being a first mover is:

Later movers do not face:

When conducting research on a new entry:

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

Lead time is:

Technological knowledge refers to the entrepreneur's possession of information,technology,know-how,and skills that provide insight into a market and its customers.

A new entry can be either offering a new product to a new market or creating a new organization.

Using a broad scope strategy helps to reduce the risk of market uncertainty.

The assessment of a new entry attractiveness is less about whether this opportunity "really" exists or not and more about whether the entrepreneur believes he or she can make it work.

The late mover is able to operate in the industry for a grace period under conditions of limited competition.

First movers:

_________ are used to protect the owner of the technology from people imitating the technology.

_____ refers to the probability,and magnitude,of downside loss.

______________ knowledge refers to the entrepreneur's possession of information,technology,know-how,and skills that provide insight into the industry and customers.

An error of commission occurs from the decision not to act on a new entry opportunity.