Scenario C

question 70

Multiple Choice

Scenario C. Four entrepreneurs are discussing the potential for success or failure of their ventures. A few of them realize that they did not understand the risk involved in their undertaking. They describe their start-ups in the following manner:
1. Raymond: "I had very little money invested but I was the first on the market with my product."
2. Lotina: "My firm had a very substantial amount of money invested in my venture because I had a completely new and unique product that was expensive to create."
3. Sharida: "I had almost nothing invested in my business which produced a product with many similar competitors already on the market."
4. Kevin: "I have spent an incredible amount of money getting my business going in an industry with many well-established competitors."

-According to the Entrepreneurial Strategy Matrix,Sharida's scenario can be described as:

• A)low innovation/high risk.
• B)low innovation/low risk.
• C)high innovation/low risk.
• D)high innovation/high risk.
• E)there was no risk in this scenario.

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Definitions:

Cause Of Action

A set of facts or legal basis that enables one party to sue another.

Province

A principal administrative division of certain countries, especially in Canada, which is characterized by its own government and boundaries.

Defendant Resides

The legal jurisdiction or location where the defendant (the person accused in a lawsuit) lives or is based.

Garnishment

A court order that monies owed to the judgment debtor (defendant) by third parties be paid into court and applied toward judgment debts; also known as attachment of debt.