Pace University MGT 490 Chapter 8 Quiz Spring 2015
(MGT490 20353 Spring 2015)Task:Chapter 08 Quiz1.award:10 out of10.00 pointsAn entrepreneurial start-up might be profitable, if three substances are important. What are they?a possibility, a advertising and marketing plan, and workplace house a viable alternative, out there sources, and certified and motivated founding teamgood concepts, a workforce of buyers, and a enterprise planmanagement, advertising and marketing, and money2.award:10 out of10.00 pointsEntrepreneurship refers to new worth creation and might by no means embrace actions in main firms.True False3.award:10 out of10.00 pointsThe means of figuring out, ________, and growing new enterprise alternatives is called alternative recognition.categorizingbrainstorming selectingeliminating4.award:10 out of10.00 pointsEntrepreneurial corporations are sometimes in a weakened place to make use of mixture methods, as a result of they don't have the flexibleness to approachsituations uniquely.True False5.award:10 out of10.00 pointsIntense rivalry involving actions and responses amongst _________ rivals vying for a similar prospects in a market is thought as__________.related; menace of substitutesdiverse; pioneering new entrydifferent; useful resource similarity related; aggressive dynamics6.award:10 out of10.00 pointsResource similarity is the extent to which rivals draw from the identical sorts of sources with a view to compete. TrueFalse7.award:10 out of10.00 pointsEntrepreneurial new entry is usually perceived as a aggressive menace as a result of most market wants should not being met, both straight or not directly,by an present agency.True False8.award:10 out of10.00 pointsWhen attacked, older and bigger corporations have a tendency to reply much less shortly, however their responses are sometimes extra predictable. TrueFalse9.award:10 out of10.00 pointsFounders utilizing an imitative new entry technique search for alternatives to capitalize on confirmed market successes. TrueFalse10.award:10 out of10.00 pointsEntrepreneurial aggressive dynamics refers to a cycle of actions and responses between corporations competing for various prospects.True False11.award:10 out of10.00 pointsOne of the methods entrepreneurs obtain success is by utilizing sources extra __________. That is an instance of how entrepreneurs use_____________ technique. effectively; a low-cost leaderwisely; a combinationreasonably; a differentiationeffectively; an imitative12.award:10 out of10.00 pointsPandora pioneered a brand new method to broadcast music. This sort of breakthrough of making ________ methods to unravel previous issues or meetingcustomer wants in a ___________ new manner is known as a pioneering new entry.targeted; focuseddifferentiated; differentiatedincremental; differentiated new; distinctive13.award:10 out of10.00 pointsImitative new entry includes providing a radical new product or extremely revolutionary service.True False14.award:10 out of10.00 pointsOpportunity recognition is the method of figuring out, choosing, and lowering entrepreneurial alternatives.True False15.award:10 out of10.00 pointsBecause new ventures sometimes are small, they normally have excessive economies of scale relative to rivals.True False16.award:10 out of10.00 pointsA(n) ____________ is utilized by entrepreneurs who see merchandise or enterprise ideas which have been profitable in a single market area of interest andintroduce the identical product in one other section of the market.proactive new entrypioneering new entry imitative new entryadaptive new entry17.award:10 out of10.00 pointsDifferentiation is usually related to _______ model establish, __________ price of promoting, and _____________ innovation.sturdy; costly; inferiorstrong; cheap; inferior sturdy; costly; superiorweak; cheap; superior18.award:10 out of10.00 pointsCommon sources of latest enterprise alternatives embrace: _________, ________, and ____________.previous work experiences, solutions by household, potential workfuture work experiences, solutions by buddies, probability occasions present work experiences, solutions by buddies, probability eventcurrent work experiences, solutions by household, luck19.award:10 out of10.00 pointsBCG authors Stalk and Lachenauer printed a e-book by which they listed aggressive technique for profitable in opposition to incumbent rivals. Theseincluded devastate revenue sanctuaries of rivals; _____ competitor prices; plagiarize with delight; ___________ the competitors; and unleashmassive and overwhelming drive,enhance; disguiselower; excite increase; deceivelower; get rid of20.award:zero out of10.00 pointsAn entry wedge, based on the textual content, is a kind of entrepreneurial technique corporations can use to exit markets.True False21.award:10 out of10.00 pointsA firm may launch new aggressive actions to: enhance market place, _______ on rising demand, ______________ productivecapacity, present an revolutionary new answer, or acquire first mover benefits.capitalize; reduceconcentrate; lower capitalize; expandconcentrate; cut back22.award:10 out of10.00 pointsSmall companies don't create the vast majority of new jobs within the U. S. financial system.True False23.award:zero out of10.00 pointsWhen launching a brand new enterprise, discovering a method to start doing enterprise should shortly generate money movement, construct credibility, entice goodemployees, and __________ the legal responsibility of newness.adapt toembrace overcomereward24.award:10 out of10.00 pointsMarket commonality refers back to the extent to which rivals are vying for various prospects in the identical markets.True False25.award:10 out of10.00 pointsAmazon is an instance of an organization that used the differentiation technique to enter the market. The differentiation options included ________.conventional supply logistics doing it on the Internettraditional again workplace logisticsminimal customer support