Scenario C.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

Fred's scenario involves high innovation because he was the first in the market with his product, but low risk because he had very little money invested. This places him in the high innovation/low risk quadrant of the entrepreneurial strategy matrix. Ming's scenario, on the other hand, is described as low innovation/low risk because her product is similar to those already in the market and her investment is small.