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88) Franchising:1.A) is the only imitation strategy discussed in the text.2.B) reduces risk of downside loss.3.C) is the same as the me-too strategy.4.D) reduces the amount of competition an entrepreneur will face.Answer: BDifficulty: 2 MediumLearning Objective: 03-07 To understand that risk is associated with newness, but there are strategies that the entrepreneur can use to reduce risk.
Accessibility: Keyboard Navigation89) Identify and briefly describe the major stages of entrepreneurial strategy.Difficulty: 2 MediumLearning Objective: 03-02 To be able to think about how an entrepreneurial strategy can first generate and then exploit over time a new entry.Accessibility: Keyboard Navigation
90) Explain what constitutes a new entry.Difficulty: 1 EasyLearning Objective: 03-01 To understand that the essential act of entrepreneurship involves new entry.Accessibility: Keyboard Navigation