Question

The Savvy Entrepreneurial Firm feature in Chapter 14 focuses on SwitchFlops, a company that produces sandals with interchangeable straps.

The primary takeaway from the feature is that savvy growth-minded startups:

A) utilize both internal and external growth strategies

B) emphasize internal rather than external growth strategies

C) emphasize international growth strategies from their inception

D) configure their products and services in ways that have built-in growth potential

E) compete on the basis of quality rather than price

Answer 1

D) configure their products and services in ways that have built-in growth potential

Step-by-step explanation:

Savvy growth-minded company tend to design their product in a way that can be easily adjusted following the future's demand. By doing this, the company's could grow their sales using the same product even if the situation in the market change in the future.

In the case above, the companies sold sandals with interchangeable straps. This means that the product that is made by the company could easily adjusted to follow the trend that exist among their consumer groups in the future.

For example if in the future there is a certain design/theme that is favored by their customers, the company could just change the straps to follow the trend rather than creating a whole new batch of sandals.