5 Written questions
5 Matching questions
- Growth strategy
- Direct competition
- Cash cow
- Competitive inertia
- a a strategy that focuses on increasing profits, revenues, market share, or the number of places in which the company does business.
- b a company with a large share of a slow-growing market
- c a company with a small share of a slow-growing market.
- d a reluctance to change strategies or competitive practices that have been successful in the past
- e 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
5 Multiple choice questions
- 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.
- 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.
- assess the need for strategic change, conduct a situational analysis, and choose strategic alternatives.
- Situation Analysis
- reflect the personality of how the company truly is. This will assist in obtaining the final goals and objectives. You need to know where you're going/destination.
5 True/False questions
Related diversification → creating or acquiring companies in completely unrelated businesses.
Proactiveness → entrepreneurial firms anticipate future problems, needs, or changes and develop solutions to meet them, even if they are unrelated to their current business.
Strategic group → a group of companies within an industry that top managers choose to compare, evaluate, and benchmark strategic threats and opportunities.
Strategy Making for Firms Big and Small → The strategy-making process is the method by which companies create strategies that produce sustainable competitive advantage
Risk Taking → entrepreneurial firms are willing to take risks that could result in costly failures.