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| 1 | |
In recognizing opportunities, what two phases of activity are involved that lead to viable new venture opportunities?
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| | A) | brainstorming and identification
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| | B) | discovery and evaluation
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| | C) | start-up and development
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| | D) | resource collection and start-up
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| 2 | |
Young, small firms get start-up funding most frequently from which of the following?
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| | A) | peer-to-peer lending via the Internet
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| | B) | personal savings or contributions from family and friends
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| | C) | bank or public financing
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| | D) | venture capital or "angel" investors
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| 3 | |
Which of the following are benefits of social capital for new firms?
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| | A) | offering contracts and providing training
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| | B) | providing a base of experience and loan guarantees
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| | C) | gaining exposure and building legitimacy faster
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| | D) | underwriting loans and providing counseling
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| 4 | |
Three characteristics of leadership for entrepreneurs defined by the text are vision, dedication and drive and relevant experience.
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| | A) | True
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| | B) | False
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| 5 | |
In applying the five-forces model to new ventures, the threat of retaliation by established firms is not an important consideration.
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| | A) | True
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| | B) | False
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| 6 | |
When automakers introduced electric vehicles such as the Chevy Volt and the Nissan Leaf in 2010 and 2011, Tesla had been in the design and manufacture electric cars since 2003. These later to market offers represent what type of entry strategy?
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| | A) | pioneering
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| | B) | prospective
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| | C) | imitative
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| | D) | comparative
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| 7 | |
New ventures can achieve overall cost leadership relative to competitors through the use of nimble organizational structures.
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| | A) | True
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| | B) | False
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| 8 | |
Which types of strategies often are associated with entrepreneurial ventures because there is a natural fit between the scope of the strategy and the size of the firm?
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| | A) | Cost leadership
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| | B) | Combination
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| | C) | Differentiation
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| | D) | Focus
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| 9 | |
The model of competitive dynamics includes new competitive action, threat analysis, motivation and capability to respond, types of competitive actions, and likelihood of competitive reaction.
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| | A) | True
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| | B) | False
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| 10 | |
Smaller, less established firms tend to be better at surprise competitive attacks because of their superior mobility.
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| | A) | True
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| | B) | False
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