This venture ___________ go out of business soon if it doesn’t work towards increasing its competitiveness in the market.shouldwon’tmightwill

________________ is an indicator of a good business idea.Question 23Answera.Good market scopeb.High competitionc.High government revenued.More resource requirement

Industries in which firms are enjoying positive profits are likely to ________ in the long-run.Group of answer choicesexpandcontractneither expand nor contract, as firms must earn an economic profit to stay in businessexpand or contract depending on the normal rate of return

Understanding EntrepreneurshipWhat does the word ‘Entreprendre’ mean?To undertakeTo innovateTo solve a problem

A company that is at a disadvantage in the marketplace because it lacks competitively valuable resources possessed by rivalsMultiple Choiceshould adopt a new competitive strategy that might better match the circumstances of the marketplace.should abandon strategy elements that have caused its weakness in the marketplace.should undertake efforts to develop a distinctive competence.is virtually blocked from using offensive strategies and must rely on defensive strategies.nearly always is relegated to a trailing position in the industry.

What approach might you take if the company wanted to enter new markets to help the business achieve its objectives?