Download Exam 3: Issues Around Rapid Growth | MGT 386 - Foundations of Entrepreneurshi and more Quizzes Entrepreneurship Development in PDF only on Docsity! TERM 1 growth DEFINITION 1 Benefits to_____: -economies of scale -fixed costs -market leadership -brand recognition -supplier power -can recruit the best TERM 2 Scalable DEFINITION 2 ______business model -a business model where new sales cost less to service/produce than prior sales (often driven by economies of scale) -can bring more business without increasing cost TERM 3 Managerial capacity DEFINITION 3 1. _______(entrepreneurial)_____ -the skill and experience to take advantage of new opportunities TERM 4 -hard to grow when entrepreneurs wants to be involved in everything or when takes a long time to train people to manage store DEFINITION 4 maagerial (enreprenuerial) capactiy createsakeylimitationtogrowth- TERM 5 high growth ventures DEFINITION 5 characteristics of ___ ___ ___that make them different. - Attributes of the company: -have competitive advantage: - valuable, rare, and inimitable resources -set goals and have strategies for achieving them -instill commitment to growth - partnerships (market modes)-human resource practiceshigh performance work practice. Most important for entrepreneurial companies are: -selective hiring -incentives and ownership TERM 6 -new product development, -new markets for existing products -new geographic markets DEFINITION 6 The main directions in which firms expand internally TERM 7 merger DEFINITION 7 External strategies for growth: -____two independent companies become one, often with the same name TERM 8 acquisition DEFINITION 8 Externalstrategiesforgrowth:-______one company purchases another TERM 9 strategic alliance DEFINITION 9 Externalstrategiesforgrowth: -___ _____partnership between two or more companies formed to attain a specific- technological alliance-marketing alliance TERM 10 joint venture DEFINITION 10 Externalstrategiesforgrowth: -___ ____new business entity created by two or more companies
