Contemporary views of business strategy have their origins in the work of Igor Ansoff and others, in the:- 1920s
- 1940s
- 1960s
- 1980s
- 21st century
- The purpose of all good small business strategy is:
- to increase turnover
- to increase profitability
- to achieve competitive advantage
- to achieve stated objectives
- to provide more jobs
- Emergent strategies are:
- not as successful as deliberate ones
- never undertaken by entrepreneurs
- always undertaken by entrepreneurs
- usually undertaken by entrepreneurs
- more successful than deliberate ones
- Small businesses should choose between either the ‘task perspective’ or the ‘exploration perspective’. True / False?
- True
- False
- Which of the following is closest to the meaning of ‘liability of newness’
- increased exposure to financial risk of new businesses
- obligations on new ventures
- lacking credibility in the business context
- the need for innovation in new businesses
- lack of resources
- Which of the following does not form part of the so-called ‘parsimonious path to profit’?
- a) Never buy new what can be bought second-hand
- Never buy second-hand what can be bought new
- Never rent what can be borrowed
- Never borrow what can be begged
- Never beg what can be salvaged
- Which of the following is not one of the 4 Ms?
- motivation
- management
- materials
- money
- marketing
- All ‘successful’ small businesses must manage the transition into a larger company. True / False?
- True
- False
- Stage models of business growth typically have:
- 3 stages
- 4 stages
- 5 stages
- 6 stages
- 7 stages
- Storey’s model of high growth small firms involves which of the following combination of three components?
- starting resources of the entrepreneur; the industry; access to capital
- starting resources of the entrepreneur; the education of entrepreneur; the firm
- the firm; the strategy; the suppliers
- starting resources of the entrepreneur; the firm; the strategy
- starting resources of the entrepreneur; the strategy; access to capital