Published on January 2017 | Categories: Documents | Downloads: 161 | Comments: 0 | Views: 2861 Show Entrepreneurship: Successfully Launching New Ventures, 4e (Barringer/Ireland) 4) Once a firm decides to enter an industry and chooses a market in which to compete, it must 2 7) According to the textbook, which of the following statements is accurate regarding the 3 10) The Partnering for Success feature in Chapter 5 focuses on three things that are important for 4 13) In general, industries are more attractive when: 5 16) Which of the following is not one of the major sources of barriers to entry? 6 19) Which of Porter's five forces is most directly influenced by the following factors: number 7 22) Which of the following was not identified in the textbook as a nontraditional barrier
to entry? 8 25) The five industry types discussed in the book include: 9 28) A(n) ________ industry is one that is characterized by a large number of firms of 10 31) According to the textbook, InstyMeds in prescription drug sales, Fresh Healthy Vending in 11 34) According to the textbook, PharmaJet, in needleless injection systems, and d'light, in solarpowered lanterns, are examples of entrepreneurial firms who are exploiting opportunities in 12 37) The two most common strategies
pursued by firms in global industries are the ________ 13 40) Katherine Chapman recently launched a firm in the clothing industry, targeting teens ages 14 43) In the context of competitor analysis, businesses that offer identical or similar products are 15 46) In the beverage industry, soda, fruit juice, and sports drinks are ________ competitors of 16 49) The information that is gathered by a firm to learn about its competitors is referred to as: 17 53) Virtually all studies have concluded that firm-specific factors are more important than 18 58) There are four factors that determine the threat of new entrants: number and balance of 19 63) The primary opportunity available to firms in fragmented industries is consolidation. The 20 69) The information that is gathered by a firm to learn about its competitors is referred to as 21 73) Discuss the nontraditional barriers to entry identified in the chapter. Why is it important that 22 Is business research that focuses on the potential of an industry?Industry analysis is business research that focuses on the potential of an industry.
What is industry analysis and why is it important?Industry analysis, for an entrepreneur or a company, is a method that helps to understand a company's position relative to other participants in the industry. It helps them to identify both the opportunities and threats coming their way and gives them a strong idea of the present and future scenario of the industry.
What should an industry analysis include?Step-By-Step Checklist. Identify your industry and provide a brief overview. ... . Summarize the nature of the industry. ... . Provide a forecast for your industry. ... . Identify government regulations that affect the industry. ... . Explain your unique position within the industry. ... . List potential limitations and risks.. How do you conduct industry research for an industry and a company?How do you do an industry analysis?. Conduct background research. Conduct detailed background research on your industry and competitors to understand your market. ... . Collect your data. Collect data that helps answer questions about the market and your competitors. ... . Analyze your data. ... . Write your analysis. ... . Evaluate your business.. |