Copyright law protects:
a. The concept
b. The idea
c. The thought process
d. The form in which the idea is displayed
e. None of these choices
One vital question, often answered incorrectly is ‘Who is the customer?’ .
a. True
b. False
Because entrepreneurs operate in a world of uncertainty, they need to learn to:
a. Analyze a situation
b. Extract the important information
c. Ignore the superfluous information
d. Compare potential outcomes
e. All of these choices
The ____ is different from the other financial statements in that it looks at the financial
health of the business at a single point in time.
a. balance sheet
b. statement of cash flows
c. current ratio
d. profit margin
e. income statement
The vast majority of innovations today are ____.
a. technology-based
b. inventions
c. radical
d. disruptive
e. incremental
“How is the industry described?,” “Is the industry growing?,” and “Where are the
opportunities?” are all examples of the questions that should be answered when
conducting the ____.
a. industry trajectories
b. industry analysis
c. PEST analysis
d. target market analysis
e. first customer analysis
The consolidation play has become a way for many small business owners to realize the
wealth they created in their business.
a. True
b. False
The relationship between technical problems and new product failure is:
a. That technical problems have little impact on product failure
b. That technical problems have a moderate impact on product failure
c. That technical problems have a significant impact on product failure
d. That technical problems are the sole cause of product failure
e. None of these is true
Aristotle, the Greek philosopher, said that ____ is the first of the human virtues because
without it, the others are not possible.
a. Responsibility
b. Vision
c. Courage
d. Hope
e. None of these choices
____ is the exchange of information and resources among individuals, groups, or
organizations whose common goals are to mutually benefit and create value for the
members.
a. Business planning
b. Marketing
c. Mentoring
d. Networking
e. None of these choices
One of the biggest problems with most marketing plans is that:
a. They use guerrilla marketing tactics
b. They fail to take into account the customer relationship
c. They are driven primarily by the effort to overcome complaints
d. They are not followed long enough
e. None of these is correct
A supply chain differs from a value chain in that:
a. It consists of upstream business activities
b. It consists of downstream business activities
c. It is a cooperative effort
d. It considers designing the product
e. It uses a decision tree
The region from which the entrepreneur expects to draw customers is called the ____.
a. economic base
b. SMSA
c. community development
d. trade area
e. market
Entrepreneurs typically face two types of POC: the technology or product POC, and the
____ POC.
a. prototype
b. marketing
c. business plan
d. operations
e. business model
____ are distinct from other plans in that they are subject to the ERISA rules for
employee retirement programs.
a. Stock options
b. Profit-sharing plans
c. Bonus plans
d. Capital appreciation incentives
e. None of these choices
Briefly discuss why a full set of pro forma financial statements is not needed at the
feasibility analysis stage.
What should the marketing plan in one paragraph include?
What are the primary reasons that business models fail?
Describe the four categories of ethical decision making that entrepreneurs face every
day.
Define ethics.
Briefly outline the entrepreneur’s micro strategy for proof of concept.
Briefly discuss the three fundamental strategies that should be incorporated in any
entrepreneur’s product development program.
What is required for an entrepreneurial mindset to succeed inside a large corporation?