Identify the three types of startup firms, and discuss how they ...

[Jipu 123]

Identify the three types of startup firms, and discuss how they differ. Provide examples of each type of firm.
 
  What will be an ideal response?

Question 2

If a startup pioneers an industry or a new concept within an industry, the name recognition the startup establishes may create a formidable nontraditional barrier to entry referred to as a(n) ________.
 
  A) unique business model
  B) aggressive supremacy
  C) competitive superiority
  D) first-mover advantage
  E) aggressive tactical advantage

[coyin]

Answer to Question 1

The three types of startup firms are: salary-substitute firms, lifestyle firms, and entrepreneurial firms. Salary-substitute firms are small firms that afford their owners a level of income similar to what they would earn in a conventional job. Examples of salary-substitute firms are dry cleaners, convenience stores, restaurants, accounting firms, retail stores, and hairstyling salons. Lifestyle firms provide their owner or owners the opportunity to pursue a particular lifestyle and earn a living while doing so. Examples of lifestyle firms include ski instructors, golf pros, and tour guides. Entrepreneurial firms bring new products and services to market by creating and seizing opportunities. There are many examples of entrepreneurial firms in computer software, biotechnology, and medical devices.

Answer to Question 2

D

[Jipu 123]

Wow, this really help

[bblaney]

Thanks for the timely response, appreciate it