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Web Quizzes
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1
Financial backing is the basis of the entrepreneurial resource.
A)True
B)False
2
Newness of a new entry is sometimes a disadvantage.
A)True
B)False
3
First movers face more competitive rivalry.
A)True
B)False
4
An example of a window of opportunity closing is when another entrepreneur has entered the industry and erected substantial barriers to entry and to imitation.
A)True
B)False
5
A narrow-scope strategy always provides protection against competition.
A)True
B)False
6
Changes needed to adapt to environmental changes:
A)are easier in established organizations because of inertia.
B)can be avoided by late entry.
C)are more difficult because of the entrepreneur's tendency to escalate commitment.
D)don't affect smaller organizations.
7
Determining first-mover advantage depends on all of the following except:
A)the stability of the environment surrounding the entry.
B)the ability of the company to maintain a legal monopoly in the market.
C)the ability of the entrepreneur to erect barriers to entry and imitation in order to extend the firm's lead time.
D)the ability of the entrepreneur to educate customers.
8
An entrepreneur who pursues a new entry opportunity only to find out that he or she had overestimated his or her ability to create customer demand is:
A)in error of commission.
B)in technological error.
C)in error of omission.
D)in competition rivalry.
9
Which of the following statements is true?
A)Knowledge is a valuable entrepreneurial resource that is typically learned in a classroom.
B)Experience is idiosyncratic—unique to the life of the individual.
C)Knowledge based on experience is likely to be learned in a classroom.
D)Financial potential is the basis for a new entry.
10
Which of the following is not part of entrepreneurial strategy?
A)Generation of a new entry opportunity.
B)Expansion of an existing opportunity.
C)A feedback loop.
D)Exploitation of a new entry opportunity.





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