Gans Stern

What is the main goal of going through the choice sets in entrepreneurial strategy?

• To develop a clear and compelling vision for the business

• To discard strategic alternatives using commitment-free analyses

• To rank the alternatives without making any commitment

• To make big choices up front without considering the alternatives

What is the first principle that entrepreneurs need to grasp in entrepreneurial strategy?

• Choice matters

• Resource constraints prevent pursuit of more than one alternative

• Uncertainty prevents a ranking of paths

• Learning requires making a partial commitment

What are the four most salient choices that startups face in entrepreneurial strategy?

• Customers, technology, identity, and competition

• Investment, execution, control, and orientation

• IP strategy, architectural strategy, disruption strategy, and value-chain strategy

• Collaboration, competition, execution, and control

What is the main difference between an IP strategy and a disruption strategy in entrepreneurial strategy?

• An IP strategy involves prioritizing execution and flexibility, while a disruption strategy involves investing in control over the underlying innovation

• An IP strategy involves competing with incumbents by developing a whole new value chain, while a disruption strategy involves working in collaboration with incumbent firms

• An IP strategy involves investing in control over the underlying innovation, while a disruption strategy involves engaging industry incumbents in direct competition

• An IP strategy involves creating value through cooperation with incumbents, while a disruption strategy involves rendering business models obsolete

What is the second principle in entrepreneurial strategy?

• These choices matter

• There is more than one alternative path by which value can be created and captured

• Resource constraints prevent pursuit of more than one alternative at a time

• Uncertainty prevents a ranking of paths

What is the third principle in entrepreneurial strategy?

• These choices matter together

• There is more than one alternative path by which value can be created and captured

• Resource constraints prevent pursuit of more than one alternative at a time

• Uncertainty prevents a ranking of paths

What is the main difference between a value-chain strategy and an architectural strategy in entrepreneurial strategy?

• A value-chain strategy involves investing in control over the underlying innovation, while an architectural strategy involves competing with incumbents by developing a whole new value chain

• A value-chain strategy involves creating value through cooperation with incumbents, while an architectural strategy involves rendering business models obsolete

• A value-chain strategy involves prioritizing execution and flexibility, while an architectural strategy involves investing in control over the underlying innovation

• A value-chain strategy involves competing with incumbents by developing a whole new value chain, while an architectural strategy involves working in collaboration with incumbent firms

What is the main difference between a control-oriented startup and an execution-oriented startup in entrepreneurial strategy?

• A control-oriented startup focuses on a narrower customer segment, while an execution-oriented startup positions itself to broader markets

• A control-oriented startup focuses on execution and flexibility, while an execution-oriented startup focuses on control over the underlying innovation

• A control-oriented startup focuses on execution and flexibility, while an execution-oriented startup focuses on a narrower customer segment

• A control-oriented startup focuses on a broader customer segment, while an execution-oriented startup focuses on execution and flexibility

What is the main difference between an IP strategy and an architectural strategy in entrepreneurial strategy?

• An IP strategy involves competing with incumbents by developing a whole new value chain, while an architectural strategy involves working in collaboration with incumbent firms

• An IP strategy involves investing in control over the underlying innovation, while an architectural strategy involves competing with incumbents by developing a whole new value chain

• An IP strategy involves creating value through cooperation with incumbents, while an architectural strategy involves rendering business models obsolete

• An IP strategy involves prioritizing execution and flexibility, while an architectural strategy involves investing in control over the underlying innovation

What is the main difference between a value-chain strategy and a disruption strategy in entrepreneurial strategy?

• A value-chain strategy involves creating value through cooperation with incumbents, while a disruption strategy involves rendering business models obsolete

• A value-chain strategy involves competing with incumbents by developing a whole new value chain, while a disruption strategy involves working in collaboration with incumbent firms

• A value-chain strategy involves investing in control over the underlying innovation, while a disruption strategy involves engaging industry incumbents in direct competition

• A value-chain strategy involves prioritizing execution and flexibility, while a disruption strategy involves investing in control over the underlying innovation