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Anyone investing in a new venture has four principal concerns: rate of growth, return
on investment, ____ and ____.
a. degree of risk / protection
b. cash flow / degree of risk
c. founding team / protection
d. balance sheet / income statement
e. assets / equity
Nonprofit corporations are not allowed to make a profit, according to the Internal
Revenue Service.
a. True
b. False
The environment in which a person works can either stimulate or discourage creativity.
a. True
b. False
The cost of hiring an employee is becoming so high that many companies are solving
the problem by ____.
a. using employment agencies
b. subcontracting work
c. hiring management consultants
d. downsizing operations
e. raising prices
A ____, or prospectus, discusses all the potential risks of investing in the initial public
offering.
a. book value
b. tombstone
c. stop-loss statement
d. red herring
e. None of these choices
Which of the following is not eligible for a patent?
a. A machine
b. A business method
c. A naturally occurring substance
d. An improvement on a machine
e. A food additive
To access the timeliest information, it is important to gather ____ on an industry.
a. secondary data
b. primary data
c. blogs and social networking
d. trade associations
e. None of these choices
The strategic choices that a business model addresses should reflect both the ____ and
the ____ processes.
a. business concept / business plan
b. value chain / action plan
c. action plan / value capture
d. value creation / value capture
e. value creation / business concept
New trends in entrepreneurship are.
a. Digital anonymity
b. b. Domestic manufacturing
c. Big data
d. the lean startup movement
e. All of these are correct.
One mistake that entrepreneurs make is to set their prices so that they cover ____ costs
plus a margin the entrepreneur is expecting to achieve.
a. inventory
b. total
c. marginal
d. variable
e. All of these choices
Like patents, ____ can suffer from infringement, counterfeiting, or misappropriation.
a. trade secrets
b. copyrights
c. trademarks
d. All of these choices
e. "trade secrets" and "copyrights" only
The virtual ownership model is similar to the Japanese keiretsu in the automobile
industry with the exception of ____.
a. financing
b. ownership
c. outsourcing
d. suppliers
e. None of these choices
Which of the following is NOT a question one would ask when researching an
industry?
a. What does the industry look like?
b. Is the industry growing?
c. Where are the opportunities?
d. How did the industry develop?
e. What is the status of any new technology?
Customer identification, customer validation, and ____ are all part of the product
development cycle.
a. product protection
b. value creation
c. outsourcing
d. product creation
e. business creation
Peter Drucker asserted, "The entrepreneurial mystique, it's not magic, it's not
mysterious, and it has nothing to do with the genes. It is ____."
a. having enough money
a great idea
c. a great network
d. discipline
e. the need for independence
