NAME: ________________________

Principles of MGMT. Ch. 6 Test

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5 Written Questions

5 Matching Questions

  1. Direct competition
  2. Intrapreneurship
  3. Competitive Aggressiveness
  4. Strategy Making for Firms Big and Small
  5. Proactiveness
  1. a entrepreneurial firms anticipate future problems, needs, or changes and develop solutions to meet them, even if they are unrelated to their current business.
  2. b entrepreneurship within an existing organization
  3. 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
  4. 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.
  5. e The strategy-making process is the method by which companies create strategies that produce sustainable competitive advantage

5 Multiple Choice Questions

  1. a resource that is not controlled or possessed by many competing firms.
  2. 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.
  3. : an assessment of the strengths and weaknesses in an organization's internal environment and the opportunities and threats in its external environment.
  4. a resource that allows companies to improve efficiency and effectiveness.
  5. Star, Question mark,Cash cow, and Dog

5 True/False Questions

  1. Doga company with a large share of a fast-growing market

          

  2. Benchmarkingentrepreneurial firms are willing to take risks that could result in costly failures.

          

  3. Distinctive competencethe 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

          

  4. Cash cowa company with a large share of a fast-growing market

          

  5. Competitive advantageproviding greater value for customers than competitors can.

          

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