Entrepreneurial Strategy Quiz

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What are the two areas that the EF can be divided into?

Autonomy, profitability, and continuity

Market to target and its competitive system, and structure

Positioning and competitive strategy, and social strategy (correct)

Product and service offered, and system of stakeholders

What is the main factor that leads to enduring competitive advantage in a successful EF?

Profitability

Continuity (correct)

Stakeholder satisfaction

Coherent product and service offered

What is the difference between economic success and competitive success in evaluating an EF?

Economic success is influenced by favorable external conditions, while competitive success is influenced by internal inconsistencies

Economic success is about attracting resources, while competitive success is about stakeholder satisfaction

Economic success is about generating profits, while competitive success is about positioning (correct)

Economic success is based on evidence, while competitive success is based on ROI

What are the four broad attributes that determine the success of a nation's industries, according to Chapter 6?

Factor conditions, demand conditions, related industries, and firm structure Signup and view all the answers

What is the definition of strategy, according to Chapter 2?

A unique and valuable position that a company takes in order to create a sustainable advantage over its rivals Signup and view all the answers

What are the five competitive forces that shape strategy, according to Chapter 1?

The threat of new entrants, the bargaining power of suppliers, the bargaining power of buyers, the threat of substitute products or services, and the intensity of competitive rivalry Signup and view all the answers

Which of the following is a strategic choice that companies must make in response to the changing nature of products?

How to capture and utilize the large amount of new data generated by smart, connected products Signup and view all the answers

What is the main factor that determines the nature of industry competition and the average profitability for incumbent competitors?

The intensity of the rivalry among existing competitors Signup and view all the answers

What is the fundamental question that smart, connected products will force many companies to ask themselves?

What business are we in? Signup and view all the answers

Entrepreneurial Strategy Quiz

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Questions and Answers

What are the two areas that the EF can be divided into?

What is the main factor that leads to enduring competitive advantage in a successful EF?

What is the difference between economic success and competitive success in evaluating an EF?

What are the four broad attributes that determine the success of a nation's industries, according to Chapter 6?

What is the definition of strategy, according to Chapter 2?

What are the five competitive forces that shape strategy, according to Chapter 1?

Which of the following is a strategic choice that companies must make in response to the changing nature of products?

What is the main factor that determines the nature of industry competition and the average profitability for incumbent competitors?

What is the fundamental question that smart, connected products will force many companies to ask themselves?

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