An error of omission occurs when an entrepreneur

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57.An error of omission occurs when an entrepreneur:A.enters a market but overestimates the customer demand.B. develops a product for a market that is too narrow.C.decides not to enter a market that is, in fact, desirable.D. fails to understand the limitations of a market.Difficulty: Hardp.6458.Regarding entry into a new market, which of the following is(are) true?Difficulty: Easyp.65
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59.First movers:Difficulty: Mediump.6560.Which of the following is nota reason that first movers are better positioned to satisfy their customers?Difficulty: Hardp.6561.A disadvantage of being a first mover is:A.environmental instability.B. cost disadvantages.C. long lead time to gain knowledge.D. a limited market.Difficulty: Hardp.6662.If there is a good fit between the venture’s bundle of resources and the external environment:Difficulty: Mediump.6663.In emerging industries:Difficulty: Mediump.6764.First movers face:Difficulty: Easyp.67
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65.By delaying entry, late movers:A.can learn from the actions of first movers without incurring the same costs.B. have less information about market demand.C. secure the window of opportunity.D. can avoid high entry barriers.Difficulty: Mediump.67
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