According to the life cycle of entrepreneurial firms the breakthrough stage

According to the life cycle of entrepreneurial firms

This preview shows page 65 - 68 out of 93 pages.

192) According to the life cycle of entrepreneurial firms, the breakthrough stage signifies the stage in which the a) entrepreneur recognizes a niche in the market and formulates an idea to take advantage of it.b) entrepreneur experiences the advantages of market success and financial stability.c) entrepreneur faces the continuing management challenge of remaining competitive in a changing environment.d) business model begins to work well, growth is experienced, and the complexity of managing the business operation expands significantly.e) entrepreneur struggles to get the new venture established and survive long enough to test the viability of the underlying business model in the marketplace.Answer: d Learning Objective 1: Explain how entrepreneurs plan, legally structure, and fund new business ventures. Section Reference 1: New Venture Creation Bloomcode: Knowledge Difficulty: Easy AACSB: Analytic 193) Activities that focus on working on finances, becoming profitable, and growing occur in the___ stage of the life cycle of entrepreneurial firms. Learning Objective 1: Explain how entrepreneurs plan, legally structure, and fund new business ventures. Section Reference 1: New Venture Creation Bloomcode: Knowledge Difficulty: Medium AACSB: Analytic 194) In the ___stage of the life cycle of entrepreneurial firms, the entrepreneur experiences the advantages of market success and financial stability, while also facing continuing challenges of
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meeting the needs for professional management skills. Learning Objective 1: Explain how entrepreneurs plan, legally structure, and fund new business ventures. Section Reference 1: New Venture Creation Bloomcode: Knowledge Difficulty: Medium AACSB: Analytic 195) Activities that focus on refining the strategy, continuing growth, and managing for success occur in the ___ stage of the life cycle of entrepreneurial firms. Learning Objective 1: Explain how entrepreneurs plan, legally structure, and fund new business ventures. Section Reference 1: New Venture Creation Bloomcode: Knowledge Difficulty: Medium AACSB: Analytic 196) According to the life cycle of entrepreneurial firms, the maturity stage signifies the stage in which the a) entrepreneur struggles to get the new venture established and survive long enough to test the viability of the underlying business model in the marketplace.b) business model begins to work well, growth is experienced, and the complexity of managing the business operation expands significantly.c) entrepreneur recognizes a niche in the market and formulates an idea to take advantage of it.d) entrepreneur experiences the advantages of market success and financial stability while facing
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the continuing management challenge of remaining competitive in a changing environment.e) entrepreneur formulates a plan for making a profit by generating revenues that are greater thanthe costs of doing business.
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