In the Context of External Analysis, Once an Entrepreneur Has

question 62

Multiple Choice

In the context of external analysis, once an entrepreneur has examined and developed insights about substitutes, elasticity of demand, ease of entry and exit, benchmarking, and industry trends, he or she should ________.

• A)identify competitors within the defined industry
• B)define the industry in which he or she is competing
• C)develop an understanding of his or her competitive advantage
• D)draw a set of competitive maps

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Definitions:

Odd-even Reliability

A measure of internal consistency reliability where a test is split into two parts (odd and even items) to assess the consistency of results across these halves.

Parallel Form Reliability

The consistency of test scores across different versions of a test designed to be equivalent in terms of content and difficulty level.

Parallel Form Reliability

Refers to the extent to which two versions of a test yield similar results, assessing the same skills or constructs under similar conditions.

Content Validity

The extent to which a test measures all aspects of the concept or constructs it intends to measure, ensuring the test is representative of all facets of the subject.