BUSINESS ADMINISTRATION
STRATEGIC MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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One of the ways entrepreneurs achieve success is by using resources more efficiently. This is an example of how entrepreneurs use ____ strategy.
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an imitative
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a low-cost leader
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a differentiation
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a combination
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Explanation:
Detailed explanation-1: -If technology occurs in waves (PC, internet, mobile, etc) then strategic entrepreneurship can be defined as foresight + prepositioning. One example is that a smart cookie recognised the increasing computing power of the 70s and start building a business in arcade games.
Detailed explanation-2: -A business plan is a very important and strategic tool for entrepreneurs. A good business plan not only helps entrepreneurs focus on the specific steps necessary for them to make business ideas succeed, but it also helps them to achieve short-term and long-term objectives.
There is 1 question to complete.