According $to$ your text, mission statements should $be$ all $of$ the following except:

Question $1$ options:

specific

short

applicable

complex

Question $2(10$ points$)$

Listen

Which $is$ not true regarding the capabilities $ofan$ entrepreneurial business?

Question $2$ options:

A new business should conserve its resourcess.

The new business should focus $on$ areas that will maximize its potential for success.

A new business does not need $to$ conserve its resources.

The resources $of$ a business are $limited.$

Question $3(10$ points$)$

Listen

Hard assets such $as$ equipment $or$ a location are:

Question $3$ options:

intangible assets

raw materials

components

$tangible$ assets

Question $4(10$ points$)$

Listen

According $to$ your text, which $is$ not one $of$ Michael Porter's strategies?

Question $4$ options:

Focus

immersion

Differentiation

Low Cost

Question $5(10$ points$)$

Listen

The broad approaches a small business will use $to$ accomplish its mission $is$ its:

Question $5$ options:

goal

barrier $to$ entry

strategy

tactic

Question $6(10$ points$)$

Listen

Which $is$ not true regarding a strategy?

Question $6$ options:

The business must $be$ built $on$ a consistent set $of$ activities around its mission and strategy.

$It$ helps focus the business clearly $on$ its strengths.

When implementing $it,$ activities should align and fit within the business.

All $of$ the above are true.

Question $7(10$ points$)$

Listen

Please put the following steps $in$ order for developing a strategy:

Question $7$ options:

A detailed strategic plan $is$ laid out specifying a series $of$ resources $or$ capabilities that will $be$ used $to$ meet each part $of$ the mission and strategy.

Constantly reevaluate the strategy.

the strategy needs $tobe$ able $to$ last a long time and provide economic returns above the industry average.

Develop a mission statement specifying where and how the firm will compete.

Question $8(10$ points$)$

Listen

A statement $of$ purpose that summarizes how and where a firm will compete $isa$:

Question $8$ options:

competitive map

mission

position

goal

Question $9(10$ points$)$

Listen

Which $is$ not true regarding a mission statement:

Question $9$ options:

$It$ guides everyone towards the owner's goals.

$It$ helps employees make decisions.

$It$ helps everyone $in$ the organization head $in$ the same general direction.

$It$ only helps the entrepreneur achieve $hi\frac{s}{h}er$ goals.

Question $10(10$ points$)$

Listen

The benefit $of$ gaining customer loyalty $by$ being the first firm $to$ the market $is$ known $as$:

Question $10$ options:

followers

positioning

first mover advantage

differentiation