According to the life cycle of entrepreneurial firms, the breakthrough stage signifies the stage in which the Select one: a. entrepreneur recognizes a niche in the market and formulates an idea to take advantage of it. b. entrepreneur experiences the advantages of market success and financial stability. c. entrepreneur faces the continuing management challenge of remaining competitive in a changing environment. d. business model begins to work well, growth is experienced, and the complexity of managing the business operation expands significantly. e. entrepreneur struggles to get the new venture established and survive long enough to test the viability of the underlying business model in the marketplace. are often found in employee manuals as standard operating procedures. Select one: a. Goals b. Rules c. Budgets d. a and b e. a and c Erik and Elsa own a pet grooming business. Erik manages the financial responsibilities while Elsa manages the customers. This is an example of a Seiect one: a. sole proprietarship b. general partnership c. corporation d. limited liablity partnership e. limited liablility corporation refer to those things that are done by both competitors and non-competitors that enable them to achieve superior performa Select one: a. Competitive objects b. Superior goals c. Non-competitive objectives d. Best practices e. Operating activities