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The components of a business model include all of these except:
a. A value proposition
b. Business concept
c. Strategic partners
d. None of these
e. B and C only are not components of a business model
____ is the mechanism that drives an individual to become a nascent entrepreneur
because all other opportunities for income appear to be absent or unsatisfactory.
a. Pull
b. b. Risk
c. Success
d. Push
e. Money
When searching for a venture capital firm, what should you not do?
a. Get recommendations from attorneys
b. Shop around
c. Get recommendations from accountants
d. Look for venture capital firms that specialize in your industry
e. Get a referral
In 2006, the ____ was signed into law to provide relief to owners whose marks have
been tarnished by third-party marks.
a. Trademark Fair Act
b. Trademark Infringement Act
c. Trademark Dilution Revision Act
d. Copyright Dilution Revision Act
e. Trade Secret Protection Act
Once the new venture has passed the startup stage, additional value is created by ____.
a. bankers/lenders
b. suppliers/creditors
c. significant customers
d. low return on equity
e. investors
____ partners typically provide capital but do not actively participate in the
management of the business.
a. Secret
b. Silent
c. Dormant
d. Limited
e. General
The functions assumed by a professional employer organization include ____ functions.
a. payroll and human resource
b. marketing research
c. manufacturing
d. All of these choices
e. None of these choices
All of these are intellectual-property rights except:
a. patents
b. development
c. copyrights
d. trade secrets
e. All of these choices
By forcing entrepreneurs to consider multiple outcomes and possibilities, contingency
plans help a growing business deal with all of the following except ____.
a. downturns and upturns in the economy
b. new regulations
c. changes in customer tastes and preferences
d. exit strategies
e. litigation
Common stockholders are entitled to vote at stockholder meetings.
a. True
b. False
Most product liability insurance covers all of the following except ____.
a. cost of defense
b. personal injury
c. property damage
d. lost sales
e. None of these choices; that is, all are usually covered
Sole proprietorships offer several advantages, which include all of the following except
____.
a. they are easy and inexpensive to create
they give the owner complete authority
c. dividends are paid to owners
d. the income from the business is taxed only once, at the owner's personal income tax
rate
e. there are no major reporting requirements, as with a corporation
A precise ____ increases the chances that the business concept will meet the customers'
needs.
a. customer definition
distribution channel
c. value proposition
d. customer benefit
e. elevator pitch
Any business that purchases raw materials or parts for production of goods for resale
must carefully consider the quality, quantity, and ____ of those purchases.
a. logistics
b. pricing
c. outsourcing
d. staffing
e. timing
An entrepreneur's personal ____ is really a function of the core values and vision that
an entrepreneur has for his or her life.
a. code of ethics
mission
c. strategy
d. purpose
e. definition of success
____ organizations are common among manufacturers with capital-intensive processes
and among service companies.
a. Service-focused
b. Project-focused
c. Product-focused
d. Process-focused
e. None of these choices
