Question 1

The strategy for growth in which the entrepreneur encourages existing customers to buy more of the firm's current product is a:

Accepted Answer

A)  penetration strategy.
B)  product development strategy.
C)  market development strategy.
D)  diversification strategy.

Question 2

Many entrepreneurs find that as they grow they need to change their management style.

Accepted Answer

A) True 
 B)False

Question 3

Entrepreneurs that have a high ability to institute professional management practices but have low growth aspirations have "little potential" for growth.

Accepted Answer

A) True 
 B)False

Question 4

In a horizontal diversification strategy,growth:

Accepted Answer

A)  involves taking a step back (up) the value-added chain.
B)  occurs at the same level of the value-added chain.
C)  involves taking a step forward (down) the value added chain.
D)  involves opportunities unrelated to the existing value-added chain.

Question 5

To prevent pressures on the financial resources created by growth,the venture should avoid resource slack.

Accepted Answer

A) True 
 B)False

Question 6

When compared to the costs of carrying excess inventory,the cost of lost sales is insignificant and should be ignored.

Accepted Answer

A) True 
 B)False

Question 7

Involving employees in the decision-making process is:

Accepted Answer

A)  a passive management style.
B)  a participative management style.
C)  an autocratic management style.
D)  impossible for small businesses.

Question 8

Entrepreneurs in the _____________ quadrant of firm growth aspire to grow their businesses and possess the ability to do so.

Accepted Answer

A)  Constrained growth
B)  Unused potential for growth
C)  Actual growth
D)  Little potential

Question 9

Most entrepreneurs could benefit from implementing time management techniques.

Accepted Answer

A) True 
 B)False

Exam 13: Strategies for Growth and Managing the Implication of Growth

Involving employees in the decision-making process is:

Correct Answer
verified

Most entrepreneurs could benefit from implementing time management techniques.

Correct Answer
verified

To prevent pressures on the financial resources created by growth,the venture should avoid resource slack.

Correct Answer
verified

The strategy for growth in which the entrepreneur encourages existing customers to buy more of the firm's current product is a:

Correct Answer
verified

When compared to the costs of carrying excess inventory,the cost of lost sales is insignificant and should be ignored.

Correct Answer
verified

Many entrepreneurs find that as they grow they need to change their management style.

Correct Answer
verified

Entrepreneurs in the _____________ quadrant of firm growth aspire to grow their businesses and possess the ability to do so.

Correct Answer
verified

In a horizontal diversification strategy,growth:

Correct Answer
verified

Entrepreneurs that have a high ability to institute professional management practices but have low growth aspirations have "little potential" for growth.

Correct Answer
verified

Exam 13: Strategies for Growth and Managing the Implication of Growth

Involving employees in the decision-making process is:

Correct AnswerverifiedShow Answer

Most entrepreneurs could benefit from implementing time management techniques.

Correct AnswerverifiedShow Answer

To prevent pressures on the financial resources created by growth,the venture should avoid resource slack.

Correct AnswerverifiedShow Answer

The strategy for growth in which the entrepreneur encourages existing customers to buy more of the firm's current product is a:

Correct AnswerverifiedShow Answer

When compared to the costs of carrying excess inventory,the cost of lost sales is insignificant and should be ignored.

Correct AnswerverifiedShow Answer

Many entrepreneurs find that as they grow they need to change their management style.

Correct AnswerverifiedShow Answer

Entrepreneurs in the _____________ quadrant of firm growth aspire to grow their businesses and possess the ability to do so.

Correct AnswerverifiedShow Answer

In a horizontal diversification strategy,growth:

Correct AnswerverifiedShow Answer

Entrepreneurs that have a high ability to institute professional management practices but have low growth aspirations have "little potential" for growth.

Correct AnswerverifiedShow Answer

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Correct Answer
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