Exam (elaborations)
MAN320F Exam 2 (1)
- Course
- Biochemistry Module 3
- Institution
- Biochemistry Module 3
Exam of 2 pages for the course Biochemistry Module 3 at Biochemistry Module 3 (MAN320F Exam 2 (1))
[Show more]
Seller
Follow
Content preview
MAN320F Exam 2What determines the success of a startup? - CORRECT ANSWER-MARKET
OPPORTUNITY
Market space and Blue Ocean Strategy - CORRECT ANSWER-Create your own
market space rather than competing for existing market space
Despite the product/service itself, venture capital firms only invest in - CORRECT
ANSWER-Capable management teams
The winning strategic approach involves both value - CORRECT ANSWER-creation
AND innovation
The Power of Customers is when - CORRECT ANSWER-Low # of customers, high
volume purchases, undifferentiated products, easy switch of sellers
The Power of Suppliers is when - CORRECT ANSWER-Low # of suppliers, few
substitutes, low dependency on buyers, must have a particular product for survival,
expensive/difficult to switch
Threat of Potential Entrants when - CORRECT ANSWER-Low brand loyalty in the
current industry, current brand names are not well-known, low initial capital
investment required, access to suppliers and distribution channels easy to obtain
Substitutes have power when - CORRECT ANSWER-Product is from another
industry, close substitutes causing price ceilings
Competition among existing firms is intense when - CORRECT ANSWER-Slow
industry growth, high fixed costs, undifferentiated products, large # of competitors
Broad environment includes - CORRECT ANSWER-Socio-cultural, economic,
technological, and political forces
Domestic and global forces
Task environment includes - CORRECT ANSWER-Competitors, suppliers, unions,
government, local communities, activists, customers, financial intermediaries
Forces outside company that influence/impact it
Mission statement is - CORRECT ANSWER-what an organization does/is
Vision statement is - CORRECT ANSWER-forward-looking view of what organization
wants to become
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller lydiaomutho. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for CA$11.19. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
74534 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now