5 Written Questions
5 Matching Questions
- Direct competition
- Competitive Aggressiveness
- Strategy Making for Firms Big and Small
- a entrepreneurial firms anticipate future problems, needs, or changes and develop solutions to meet them, even if they are unrelated to their current business.
- b entrepreneurship within an existing organization
- c the rivalry between two companies that offer similar products and services, acknowledge each other as rivals, and act and react to each other's strategic actions
- d entrepreneurial firms must be more willing to use unconventional strategies than the firms already existing in a new market space in order to gain an advantage.
- e The strategy-making process is the method by which companies create strategies that produce sustainable competitive advantage
5 Multiple Choice Questions
- a resource that is not controlled or possessed by many competing firms.
- a strategy for reducing risk by buying a variety of items (stocks or, in the case of a corporation, types of businesses), so that the failure of one stock or one business does not doom the entire portfolio.
- : an assessment of the strengths and weaknesses in an organization's internal environment and the opportunities and threats in its external environment.
- a resource that allows companies to improve efficiency and effectiveness.
- Star, Question mark,Cash cow, and Dog
5 True/False Questions
Dog → a company with a large share of a fast-growing market
Benchmarking → entrepreneurial firms are willing to take risks that could result in costly failures.
Distinctive competence → the rivalry between two companies that offer similar products and services, acknowledge each other as rivals, and act and react to each other's strategic actions
Cash cow → a company with a large share of a fast-growing market
Competitive advantage → providing greater value for customers than competitors can.