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Which of the following is not a professional advisor to an entrepreneur?
a. Attorney
b. Board of directors
c. Accountant
d. Banker
e. Insurance agent
According to Rosabeth Moss Kanter, accountability, collaboration, and initiative are all
elements of ____.
a. innovation
b. confidence
c. creativity
d. intuition
e. invention
Early economists recognized that ____ is the primary force behind rising standards of
living and that ____ innovation would determine the success of many nations in the
future.
a. technology / technological
b. b. labor / growth
c. manufacturing / distribution
d. industry formation / job
e. economic growth / invention
Intellectual-property rights are protected by ____.
a. patents
b. trademarks
c. copyrights
d. trade secrets
e. All of these choices
Price skimming is finding out what customers are willing to pay for the product and
pricing it accordingly.
a. True
b. False
Initial market tests are accomplished using a working ____ of near production quality.
a. concept
b. platform
c. model
d. prototype
e. None of these choices
Which of the following is not a flaw that investors commonly find in business plans?
a. Overly optimistic projections
b. Lack of enthusiasm
c. Too much hype
d. Poor explanation of the business model
e. No demonstration of customer demand
Regarding product development, which of the following would not be good advice?
a. Manage product development teams from a distance
b. Choose an outsourced partner based solely on price
c. During R&D, set aside customer needs
d. All of these are good advice
e. None of these is good advice
Poor execution in product development often results from:
a. A preference for speed
b. Not enough people doing the work
c. Too much market research
d. Significant due diligence
e. None of these
A clear and precise definition of the ____ increases the chances that the business
concept will meet the needs of the market.
a. competition
b. employee base
c. customer
d. management structure
e. product
Over half of family-owned businesses do not continue into the second generation.
a. True
b. False
Briefly discuss why so many more firms are created than an industry can support.
How can an entrepreneur efficiently build a large, but meaningful network?
What questions should you ask when considering a specific vendor as a source?
Briefly discuss product bundle pricing.
Discuss the advantages and disadvantages associated with virtual teams.
What are the advantages of trade shows and exhibits?
List the four components of discounted cash flow analysis (DCF).
