3848634
Description
Quiz by csv_christina, updated more than 1 year ago
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Created by csv_christina
over 8 years ago
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Question 1
Question
The key types of risk companies face include:
Answer
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Market Risk
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Technology Risk
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Domino Risk
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Execution Risk
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All of the Above
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A, B and D
Question 2
Question
As important as helping you determine what to do, a well-defined strategic position is a boon in helping you decide what NOT to do.
Answer
- True
- False
Question 3
Question
Key Differentiators, such as price, quality, convenience, and selection, are characteristics that differentiate one company from another. These motivate customers to buy from one company rather than either choosing another company or not buying at all.
Answer
- True
- False
Question 4
Question
The first company to gain a foothold in the market can often leverage being early into a significant competitive advantage.
Answer
- True
- False
Question 5
Question
You should judge your competition solely on the basis of whether your product or service is better than theirs.
Answer
- True
- False
Question 6
Question
A true strategic position is not the same as an advertising campaign or slogan.
Answer
- True
- False
Question 7
Question
A SWOT chart delineates what?
Answer
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Strengths, Weaknesses, Operations, Trends
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Strengths, Weaknesses, Opportunities, Trends
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Strengths, Weaknesses, Opportunities, Threats
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Strengths, Weaknesses, Options, Threats
Question 8
Question
Barriers to entry may include:
Answer
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Government Regulation
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Intellectual Property
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Economy of Scale
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Market Saturation
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All of the Above
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A, B and C
Question 9
Question
Every business involves risk.
Answer
- True
- False
Question 10
Question
Branding is
Answer
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Easy to Achieve
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Expensive
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Time consuming
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Defined by consistent quality, price, service or convenience
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All of the Above
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B, C and D
Question 11
Question
A first-mover advantage may enable entrepreneurs to:
Answer
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Capture significant market share before competitors enter market
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Secure strategic partners
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Capture media attention
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Lock in financing sources
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All of the Above
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A, B and C
Question 12
Question
Many internal operational advantages can increase your competitiveness, such as:
Answer
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Marketing program and budget
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Operational efficiencies
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Strategic partnerships
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Company morale
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All of the Above
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A, B and C
Question 13
Question
Installed user base refers to:
Answer
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The software industry's existing market
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A sizable portion of the market that already uses a product or service similar to yours
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A company's "installation" or establishment of market dominance by giving products and services away for free.
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None of these
Question 14
Question
Customers may judge the product or service offered by both you and the competition on which of the following factors?
Answer
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Product or service features
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Durability and Maintenance
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Image, Style, Perceived Value
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Customer Relationships
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Societal Impact
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All of the Above
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A, B, C and D
Question 15
Question
In thinking through your business or developing your business plan, the statement "We have no competition" likely indicates what?
Answer
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Your company presents an excellent opportunity to get in on a new, unexploited, and potentially lucrative opening in the market.
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You have not fully examined the realities of your business
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There is no market for your concept
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B and C
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