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Exam 8: Entrepreneurial Strategy and Competitive Dynamics

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Question 1

True/False

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

A) True
B) False

Correct Answer

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True

Question 2

Multiple Choice

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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.

A) plagiarize with pride
B) deceive the competition
C) raise competitor costs
D) unleash massive and overwhelming force

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

Correct Answer

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D

Question 3

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Square, founded in 2010, provides a means for small businesses to process credit and debit card sales without signing up for a traditional credit card arrangement. This is an example of a pioneering new entry.

The first personal computer revolutionized computing and how business is conducted. It was using a(n) ______________ entry strategy.

When GM offers discounts and incentives, rivals Ford and Chrysler cannot afford to ignore the challenge and quickly follow suit. These arguments are an example of

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

Most entrepreneurial firms first seek financing from venture capitalists in order to begin activity.

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.

Founders using a pioneering new entry strategy look for opportunities to capitalize on proven market successes.

The majority of entrepreneurial start-ups are financed with angel financing.

Few start-ups enter industries that are mature.

Several arena factors make it more difficult for new ventures to be successful as differentiators. Examples include innovation, technology, customer service, and distinctive branding.

New entry is among the most common reasons why a cycle of competitive actions and reactions gets started among similar competitors.

The cycle of actions and reactions that occur in daily business leads to new value creation and ongoing advancement of economic well-being.

The best example of a tactical action that a company might use in response to a competitive attack is to

Hollywood cooperation is responsible for saving some of the Kodak film manufacturing business, because the studios agreed to cooperate on buying movie film.

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

Square provides a means for small businesses to process credit and debit card sales without signing up for a traditional credit card arrangement of monthly fees and minimum charges. It used which new entry strategy to enter the market initially?

When a company chooses to maintain low-price dominance, it is using which tactical action?

Swedish breweries cooperate in recycling used bottles and therefore have no way to differentiate their offers in the minds of the customer.