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Question
Which type of risk-capital market is available as a funding source only for high-potential ventures?A.Informal risk capital market
B.Private venture capital companies
C.Small business investment companies
D.Public equity market
Answer
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In 1994 Robert Mondavi came up with:
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A narrow scope strategy is better than a broad scope strategy in an environment high in uncertainty.
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Adaptations necessary to meet changes in market demand are difficult because an organization resists change.
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First movers suffer a cost disadvantage as they are not able to move down the experience curve.
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The knowledge needed to generate innovation cannot be easily learned from a textbook.
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A.Gordon
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Which of the following is a liability of newness?
A.Costs associated with learning new tasks are high.
B.Lack of established routines and processes give the venture a new slate.
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Imitation strategies:
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_____ refers to the probability, and magnitude, of downside loss.
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Frequent flier miles would be an example of which barrier to entry?
A.Building customer loyalties
B.Securing access to supply of key resources
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The costs that must be borne by customers if they are to stop purchasing from the current supplier and begin purchasing from another is(are):
A.customer switching costs.
B.lead time.
C.resource costs.
D.resource bundle errors.
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The U.S. Chamber of Commerce and Small Business Development Centers are good places to get information and assistance in starting a new business.
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Which of the following problem-solving techniques begins with group members not knowing the exact nature of the problem?
A.Parameter analysis
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C.The Gordon method
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Reverse brainstorming is much like brainstorming except that:
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B.the technique is based on finding solutions.
C.the group need not be careful to maintain good morale.
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_____ is not desirable when brainstorming is in process.
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The largest source of new product ideas is:
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C.customers.
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Patents filed with the U.S. Patent Office:
A.are not disclosed to the public.
B.are the property of the U.S. Government.
C.frequently suggest other new products.
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The entrepreneur should always design and build his own webpage to maintain strategic control.
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In the concept stage, the refined idea is tested to determine consumer acceptance.
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