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Exam 8: Entrepreneurial Strategy and Competitive Dynamics

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Question 31

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According to the textbook,which of the following is not a common new entry strategy?

A) imitative new entry
B) adaptive new entry
C) pioneering new entry
D) proactive new entry

E) None of the above
F) C) and D)

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Question 32

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According to the text,new ventures launched by entrepreneurial teams are more likely to be successful than ventures launched by

A) established corporations.
B) lone wolf entrepreneurs.
C) bootstraps.
D) individual investors.

E) A) and B)
F) A) and C)

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Question 33

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________ is the intense rivalry involving actions and responses among similar competitors vying for the same customers in a marketplace.

Tom Monahan,a business creativity coach,says that every new idea is merely a spin of an old idea.A company that enters the market by offering a product or service that is somewhat new and sufficiently different in order to create value for customers by capitalizing on current trends is using which new entry strategy?

Explain what a pioneering new entry means and when it is appropriate to use it.

New ventures may find it difficult to use differentiation strategies successfully because they lack ________ and ________.

The evaluation phase of opportunity recognition occurs when an entrepreneur has an insight about a new business venture,often based on prior knowledge.

What are competitive dynamics and how does this explain why strategies evolve in response to actions of close competitors?

Smell-O-Vision designed an invention to pump odors into movie theatres.It flopped,in spite of its innovativeness.What kind of new entry strategy was the company using to penetrate the market?

Competitors in a mature market typically find that a new entrant is threatening because

The U.S.Small Business Administration supports small business through all the following except

Telecommunication equipment providers,Huawei and Nokia,have a high degree of ________ because they have patent rights to similar technologies,high-quality engineering staffs,and global sales forces.

Which of the following is not a factor that affects how a competitor will respond to a competitive attack?

Discuss the phases of activity involved in the opportunity recognition process that lead to viable new venture opportunities.Explain how this is more than identifying ideas.

Adaptive new entry involves offering a radical new product or highly innovative service.

When a company chooses to use guerrilla marketing,it is using a ________ competitive action.

Smell-O-Vision created an invention that would pump odors into movie theatres.It did not make it to market.This was an attempt to be an adaptive entry strategy.

Unilever has taken a dominant position (65 percent market share) in the Vietnamese laundry detergent market by employing an investment and marketing campaign that decimated the market position of the local,incumbent competitors.According to the Stalk and Lachenauer book,this is an example of ________ strategy.

Opportunity recognition is the process of identifying and selecting entrepreneurial opportunities.It does not involve the development of those ideas.

An entry wedge is a type of entrepreneurial strategy firms can use to enter into business.