Entrepreneurship in Start-ups: Recognizing and Exploiting Opportunities
19 Questions
1 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What is the difference between idea generation and opportunity recognition?

  • Idea generation is a structured process, while opportunity recognition is a creative one.
  • Idea generation is a creative process, while opportunity recognition is a structured one. (correct)
  • Idea generation requires business tools, while opportunity recognition requires creative tools.
  • Idea generation involves short evaluation, while opportunity recognition involves open spirit.

    • What is a key step in identifying a business opportunity?

  • Having an open spirit
  • Seeking industry contacts
  • Evaluating ideas (correct)
  • Using creative tools

    • What are some sources that can help generate ideas in the process?

  • Open spirit and business tools
  • Franchise and consulting
  • Professional networks and internet (correct)
  • Product licenses and patents

    • What did Archimedes discover during a bath?

    <p>The principle of water displacement</p> Signup and view all the answers

    What did Schumpeter describe in his theory of creative destruction in 1912?

    <p>Market disequilibrium theory</p> Signup and view all the answers

    What is the main focus of Chapter 2.9 'Exploiting opportunities: Market entry and marketing mix'?

    <p>Market entry and marketing mix</p> Signup and view all the answers

    How are entrepreneurship, entrepreneurship, and technology management related in start-ups?

    <p>They are interrelated concepts in start-ups</p> Signup and view all the answers

    What role do founding personalities play in start-ups?

    <p>They face special challenges</p> Signup and view all the answers

    What is the demarcation of the customer according to Kim and Mauborgne (1999)?

    <p>Who buys and uses the product or service</p> Signup and view all the answers

    In the case of Southwest Airlines, what was their main purpose in creating a new low-cost market space?

    <p>To beat the car, not the other airlines</p> Signup and view all the answers

    What is one of the steps mentioned for applying the Market Space approach?

    <p>Recording the status quo of current border demarcations</p> Signup and view all the answers

    What does 'recording of value curves' involve in the Market Space approach?

    <p>Capturing the current boundary setting in relation to industry, strategic group, customer, product, and emotionality/functionality</p> Signup and view all the answers

    What is a consideration when deriving options for action in value curves?

    <p>Elimination of product properties</p> Signup and view all the answers

    What do gyms for women position themselves between, according to the text?

    <p>High-end and minimalist offering</p> Signup and view all the answers

    What was Southwest Airlines comparing its average travel cost to?

    <p>~USD 86 (Greyhound Bus) and ~USD 136.59 (Car)</p> Signup and view all the answers

    What is one of the criteria used to evaluate individual options in the Market Space approach?

    <p>Identification of potential new markets for the defined options</p> Signup and view all the answers

    What was the main purpose of Southwest Airlines when comparing its average travel cost to those of a car and a bus?

    <p>To establish a new low-cost market space in the airline industry</p> Signup and view all the answers

    What is part of a product or service according to Kim and Mauborgne (1999)?

    <p>What is part of a product or service and what is not?</p> Signup and view all the answers

    Based on the text, what was Southwest Airlines' focus when comparing its travel costs?

    <p>Not to compete with established airlines but to beat the car</p> Signup and view all the answers

    More Like This

    Use Quizgecko on...
    Browser
    Open
    Browser
    Browser