sbm_midterm_prep - Site Title Entrepreneurship Successfully...

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Site Title: Entrepreneurship: Successfully Launching New Ventures, 4/e Book's Title: Entrepreneurship: Successfully Launching New Ventures, 4/e Book's Author: Barringer Location on Site: Chapter 5 > Chapter Quiz 85% Correct of 20 Scored items: 17 correct: 85% 3 incorrect: 15% ------------------------------------------------------------------- 2 questions not scored. 20 scored questions. Question 1 When studying an industry, the following are key questions an entrepreneur must answer before pursuing the idea of starting a firm EXCEPT: Correct: Is the industry in the maturity stage of the industry life cycle? Question 2 How a company is situated relative to its competitors is referred to as _____. Correct: Position Question 3 Which of the following is a framework for understanding the structure of an industry? Incorrect: the product/industry life cycle model Correct: the five competitive forces model See p. 154 for more information. Question 4 The video industry is becoming less attractive as movie studios perfect the technology enabling consumers to download movies via computer. This is best an example of which industry competitive force? Correct: threat of substitutes Question 5 Which of the following barriers to entry into an industry would be most relevant for a firm considering the airline industry? Correct: capital requirements
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Question 6 What's the biggest threat to a new firm's viability when creating a new market? Correct: larger, better-funded firms copying them Question 7 Which industry type is characterized by a large number of firms of approximately equal size? Correct: fragmented industry Question 8 The following are strategies entrepreneurial firms can employ in declining industries EXCEPT: Correct: an early adoption strategy. Question 9 In assessing competitors it might face in the soft drink (cola) industry, how would an entrepreneur characterize a coffee maker that has added iced coffee drinks to its line-up of hot coffee? Correct: an indirect competitor Question 10 What phrase best describes the information gathered by a firm to learn about its competitors?
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