Podcast
Questions and Answers
What is a major obstacle to firms implementing new product and service ideas?
What is a major obstacle to firms implementing new product and service ideas?
- Lack of market demand
- Insufficient manufacturing capacity
- Insufficient managerial services (correct)
- Insufficient financial resources
Why can't firms quickly increase their managerial services?
Why can't firms quickly increase their managerial services?
- It is difficult to find employees with the right skills.
- It is expensive to hire new employees and takes time for them to be socialized into the culture of a firm. (correct)
- It is hard to find employees who are willing to work for a startup.
- It takes time to develop new products and services.
What happens when a firm's managerial resources are insufficient to take advantage of its new product and service opportunities?
What happens when a firm's managerial resources are insufficient to take advantage of its new product and service opportunities?
- The firm experiences a managerial capacity problem. (correct)
- The firm experiences a financial crisis.
- The firm's market share increases.
- The firm's competitors take advantage.
What is a challenge that firms face as they grow?
What is a challenge that firms face as they grow?
What does adverse selection mean in the context of firm growth?
What does adverse selection mean in the context of firm growth?
Why is it important for new employees to be socialized into the culture of a firm?
Why is it important for new employees to be socialized into the culture of a firm?
What is a potential issue that arises as a firm grows and adds personnel?
What is a potential issue that arises as a firm grows and adds personnel?
What is a challenge that firms face as they grow?
What is a challenge that firms face as they grow?
What can occur if a growing firm takes market share from a competitor?
What can occur if a growing firm takes market share from a competitor?
Why do growing firms often face capital constraints?
Why do growing firms often face capital constraints?
What is a potential consequence of firm growth?
What is a potential consequence of firm growth?
What is a challenge of growing a firm in terms of cash flow management?
What is a challenge of growing a firm in terms of cash flow management?
What is the main reason why a business may not be able to grow?
What is the main reason why a business may not be able to grow?
What is the primary function of entrepreneurial services in a firm's administrative framework?
What is the primary function of entrepreneurial services in a firm's administrative framework?
What is the main challenge for firms in the decline stage?
What is the main challenge for firms in the decline stage?
Why is leadership important for firm growth?
Why is leadership important for firm growth?
What is the primary purpose of managerial services in a firm's administrative framework?
What is the primary purpose of managerial services in a firm's administrative framework?
What is a key factor in determining whether a firm will enter the decline stage?
What is a key factor in determining whether a firm will enter the decline stage?
