The What Went Wrong Feature in Chapter 13 Focuses on Wesabe

question 41

Multiple Choice

The What Went Wrong feature in Chapter 13 focuses on Wesabe, a Web-based company that was launched in 2006 to help people manage their personal finances. According to Marc Hedlund, one of Wesabe's cofounders, the company failed for two primary reasons. First, it didn't allow a partner to provide it with an essential service that it decided to build on its own. Second, it ________.

• A) didn't hire an experienced CEO
• B) didn't achieve a large enough critical mass of users
• C) didn't implement a revenue model fast enough
• D) didn't utilize both internal and external growth strategies
• E) misunderstood its users

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Definitions:

Imagined Community

A concept referring to a socially constructed community, envisioned by its members to share common interests, identities, or beliefs, even if they never meet face to face.

National Myths

are shared stories or belief systems that form part of the national identity, often reflecting values, history, and aspirations of a country.

Deterritorialization

is the process by which the traditional boundaries or the cultural specificity of a place become less significant due to globalization.

Re-territorialization

The process of re-establishing or redefining the cultural, social, or economic boundaries and identities of spaces, often in response to globalization.