Two entrepreneurs, Fred and Ming, were discussing the potential for success or failure of their ventures. They described their start-ups in the following manner:1. Fred stated that he had very little money invested, but he was the first in the market with his product.2. Ming stated that her investment in the business was very small and that her product was similar to those already in the market. According to the entrepreneurial strategy matrix, Fred's scenario can be described as involving
A)low innovation/high risk.
B)low innovation/low risk.
C)high innovation/low risk.
D)high innovation/high risk.
E)high investment/no risk.

Question

Quizplus · Accepted Answer

According to the entrepreneurial strategy matrix, Fred's scenario involves high innovation with low risk. This is because he is the first in the market with his product, which implies a high degree of innovation. However, he has invested very little money, which reduces his risk. Ming's scenario involves low innovation with low risk, as her product is similar to those already in the market, and she has also invested very little money.

Two Entrepreneurs, Fred and Ming, Were Discussing the Potential for Success