Two Entrepreneurs, Fred and Ming, Were Discussing the Potential for Success

question 25

Multiple Choice

Two entrepreneurs, Fred and Ming, were discussing the potential for success or failure of their ventures. They described their start-ups in the following manner:1. Fred stated that he had very little money invested, but he was the first in the market with his product.2. Ming stated that her investment in the business was very small and that her product was similar to those already in the market. According to the entrepreneurial strategy matrix, Ming's scenario can be described as involving

• A)low innovation/high risk.
• B)low innovation/low risk.
• C)high innovation/low risk.
• D)high innovation/high risk.
• E)high investment/no risk.

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Definitions:

Distributors

Companies or entities that are responsible for delivering products from manufacturers to the final consumers or retailers.

Organization Chart

A visual representation of the hierarchical structure of an organization, showing relationships and ranks of positions within it.

Political Clout

The power or influence that a person or organization has within political contexts, often used to achieve specific goals or outcomes.

Insight

The capacity to gain an accurate and deep intuitive understanding of a person, situation, or problem.