Ashford BUS433 Week 1 – DQ’s & Quiz

BUS 433 (Ashford) – New Business StrategyBUS 433 – Week 1 – Discussion & QuizWeek 1 DQ 1: Nature of Strategic Planning: In a 250-300 word post, answer the following questions: What is strategic planning? How does it differ from other forms of planning? Why is the strategic planning process important to entrepreneurs in starting a new venture? Respond to at least two of your classmates’ postings.Week 1 DQ 2: Strategic and Entrepreneurial Thinking: In a 250-300 word post, respond to the following: Provide a definition of entrepreneurial thinking. What role does entrepreneurial thinking play in strategic planning? Respond to at least two of your classmates’ postings.Week One Quiz: Complete the quiz on the assigned readings for the week.BUS 433 Week 1 Quiz1. Question: According to Porter, the diamond framework affects the competitiveness of ________ and ___________ as well as firms.competitors, complementorsnations, regionscustomers, supplierssuppliers, competitors2. Question: In new ventures, financial projections and risk analysis are part of a ___________.strategic plancorporate planbusiness planloan plan3. Question: “Conventional wisdom argues that domestic competition is wasteful. It leads to __________ and prevents companies from achieving economies of scale . . .”duplication of efforthigher pricesfierce domestic competitiondowngrading of the sources of competitive advantage4. Question: In the _____ method of forecasting, successive requisitioning in light of initial answers sharpens the results obtained.Trend analysisAlternative scenariosDelphiTime series5. Question: Comparative growth rates of nations in the major industrial nations after World War II was ___________.normalexceptionalnegativeremained the same6. Question: A firm that is considering doing business abroad must have a rationale and logic for how it can compensate for and overcome the liabilities and disadvantages that arise from its _______________.strategiesvisionmissionforeignness7. Question: The evolution of ___________ is a critical element in the formulation of a company’s strategy.resourcesbusiness strategycorporate strategyindustry structures8. Question: In the __________ stage of industry evolution, there is a shakeout among the competition.embryonicgrowthmaturitydecline9. Question: _____ ensures _______’s broad application.invention, innovationinnovation, inventioninnovation, exploitationinvention, exploitation10. Question: The technology-push model of innovation starts with ___________.discoveries in basic science and engineeringbusiness ventureexploiting new technologiesdevelopment