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Entrepreneurship Theory Process Practice

Business

Quiz 13 :

Strategic Entrepreneurial Growth

Quiz 13 :

Strategic Entrepreneurial Growth

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Participation by subordinates in a strategic plan is never appropriate.
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True False
Answer:

Answer:

False

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Many new ventures find strategic planning difficult because entrepreneurs are typically specialists.
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True False
Answer:

Answer:

False

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The entrepreneurial strategy matrix measures risk and innovation.
Free
True False
Answer:

Answer:

True

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Misunderstanding industry attractiveness can be a fatal flaw in strategic planning.
True False
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Four specific managerial actions are necessary during the growth stage: control, responsibility, intolerance of failure, and change.
True False
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In a management structure, there is a need for clearly defined authority and responsibility.
True False
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A SWOT analysis refers to analyzing strengths, weaknesses, opportunities, and threats.
True False
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The "best" strategic plan will be influenced by the abilities of the entrepreneur, the complexity of the venture, and the nature of the industry.
True False
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High- and low-performing firms have many similarities and differences in their long-range planning efforts.
True False
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During the growth stage of a venture, entrepreneurs shift into a managerial style.
True False
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Most entrepreneurs are unfamiliar with planning information sources.
True False
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Research has shown a distinct lack of planning on the part of new ventures.
True False
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Small firm owners/managers are usually very open and trusting about their businesses and the decisions that affect them.
True False
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Formal planning can be divided into strategic and nonstrategic.
True False
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Wealth creation occurs at the intersection of entrepreneurial and strategic actions.
True False
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In principle, incumbents and entrepreneurs face the same challenges in finding new strategic positions, whereas in practice, incumbents often have an edge.
True False
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Lack of expertise has never been considered a reason for the lack of strategic planning in new ventures.
True False
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Research indicates that strategic planning enhances a firm's performance.
True False
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Many research studies suggest that strategic planning influences a venture's survival.
True False
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The actual need for systematic planning will vary with the nature, size, and structure of the business.
True False
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