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This is a short-answer assignment. Answer all of the questions at the end of Web Chapter B

DISCUSSION QUESTIONS 1. In terms of strategic management, how does a new ven- 4. What considerations should small-business entrepreneurs ture's situation differ from that of an ongoing small keep in mind when they are deciding whether acompany company? should follow a growth or a stability strategy? 2. How should a small entrepreneurial company engage in 5. How does being family owned (as compared to being environmental seaming? To what aspects of the environ- publicly owned) affect a firm's strategic management? ment should management pay most attention? 3. What are the characteristics of an attractive industry from an entrepreneur's point of view? What role does innova- tion play