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Once the entrepreneur determines where the new venture lies in the value chain, he or
she must create a ____.
a. process map
b. feasibility analysis
c. business plan
d. timeline
e. None of these choices
A corporate form that enjoys the pass-through tax benefits of partnerships in addition to
the limited liability of a C-corporation is known as a ____.
a. multinational corporation
b. secret partnership
c. silent partnership
d. limited liability company (LLC)
e. closely held partnership
The bottom line for any new venture is to have ____.
a. positive inventory
b. good income statements
c. great employees
d. a strong founding team
e. positive cash flow
Strategies deal with the needs of the customer and what is being offered to satisfy those
needs.
a. True
b. False
____ with customers should give the entrepreneur confidence that the solution being
provided is recognized as valuable by customers.
a. Product/service analysis
b. Customer analysis
c. Feasibility analysis
d. Competitive analysis
e. Market research
Bootstrapping refers to:
a. Getting by on as few resources as possible
Leasing or sharing
c. Using other people's money
d. A through c
e. A and b only
Which of the following is not a principal concern of investors?
a. Rate of growth
b. Return on investment
c. Degree of risk
d. Market analysis
e. Protection
A living guide to how the company plans to build customer relationships over its life in
order to fulfill the mission statement in the business plan is a ____.
a. guerrilla plan
b. marketing schedule
c. public relations forum
d. marketing plan
e. public relations plan
One part of the feasibility analysis addresses the business process. This part is called the
____.
a. product/service analysis
b. financial analysis
c. founding team assessment
d. industry analysis
e. None of these choices
Today many enterprising people are turning to nonprofit ventures to realize their
entrepreneurial dreams.
a. True
b. False
____ change takes place as companies in the industry grow geographically and increase
profits through innovations in operations, processes, distribution, and technology.
a. Radical
b. Creative
c. Progressive
d. Intermediating
e. Internet
Which of the following is not involved in risk assessment?
a. Identifying the potential risks associated with the venture
b. Calculating the probability the risks will occur
c. Assigning a level of importance to the losses
d. Calculating the overall loss risk
e. Securing a knowledgeable attorney
All of the following are part of the "5 P's" of marketing except ____.
a. purpose
product
c. place
d. people
e. promotion
____ pay taxes on profits and their shareholders pay taxes on dividends they receive,
resulting in double taxation.
a. S-corporations
b. C-corporations
c. LLCs
d. Foreign corporations
e. None of these choices
A VC may request a ____, a penalty requiring founders to give up some of their stock to
the VC if the company does not achieve its projected performance goals.
a. fair market provision
b. stop-loss statement
c. forfeiture provision
d. liquidation agreement
e. letter of intent
Determining what resources are needed, when they are needed, and how to acquire
them is a critical piece of the feasibility puzzle.
a. True
b. False
A 2014 study found four key trends related to how companies characterize product
development today. Discuss these.
An effective contingency plan will answer what important questions?
Name the trends relevant to entrepreneurs as of 2012. Now, what four new trends are
emerging?
What are some sources of business knowledge for entrepreneurs? Which is the most
important?
Briefly discuss the special issues that may arise with founding teams in the high-tech
industry.
Discuss the importance of pricing strategies.
Briefly discuss the elements of a process map.
