In the context of the entrepreneurial strategy matrix, describe the four kinds of new ventures.
What will be an ideal response?
The entrepreneurial strategy matrix has four quadrants representing the four kinds of new ventures:
1. In the upper left quadrant, innovation is high (ventures are truly novel ideas), and there is little risk.
2. In the upper right quadrant, novel product ideas (high innovation) are accompanied by high risk because the financial investments and competition are great.
3. Most small business ventures are in the lower right, where innovation is low and risk is high. They are fairly conventional entries in well-established fields. New restaurants, retail shops, and commercial outfits involve a sizable investment by the entrepreneur and face direct competition from similar businesses.
4. Finally, the low-innovation/low-risk category includes ventures that require minimal investment and/or face minimal competition for strong market demand.
You might also like to view...
Increasing opportunity costs suggest that
a. resources are not perfectly shiftable between the production of two goods. b. resources are fully shiftable between the production of two goods. c. a country's production possibilities frontier appears as a straight line. d. a country's production possibilities frontier is bowed inward (i.e., convex) in appearance.
Which of the following is a characteristic of the non-Western approach to problem-solving and decision-making?
a. acceptance of problematic situations the way they are b. linear or sequential thinking c. quick, bold decision-making d. frequent delegation of decision-making
Retleb Manufacturing Company noticed that, during its busiest month of 2014, maintenance costs totaled $15,400, resulting from the production of 32,000 units. During its slowest month, $12,600 in maintenance costs were incurred, resulting from the production of 24,000 units. Use the high-low method to estimate the maintenance cost that the company will incur if it produces 20,000 units?
A) $7,000 B) $11,200 C) $8,400 D) $2,800
The complete normalization process is _____ and quite necessary for developing organization-wide databases.
Fill in the blank(s) with the appropriate word(s).