Scenario C

question 6

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,Kevin most likely runs

• A)a small business with high start-up costs.
• B)a completely novel services business.
• C)an intrapreneurial team for a product with high R&D costs.
• D)a small shop manufacturing simple and unique handmade products.
• E)A or B

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Definitions:

Contamination

The presence of unwanted substances or qualities in something that make it impure or unsuitable for use.

Longitudinal Studies

Research methods that involve repeated observations of the same variables over short or long periods of time.

Crying Relieves Tension

Indicates the common belief that crying can help reduce emotional stress and provide a sense of relief.

Health Psychologist

A professional specializing in how psychological, biological, and social factors affect health and illness.