Investors tend to look for technology-driven companies rather than market-driven
companies.
a. True
b. False
Most successful startups involve ____.
a. only the founders
b. people with skills and capabilities beyond those that the business requires
c. solo entrepreneurs rather than teams
d. teams rather than solo entrepreneurs
e. people with MBAs
The mission statement loosely identifies the company’s objectives.
a. True
b. False
Two of the most effective entrepreneurial marketing tools around, because they do not
cost the company any money, are word-of-mouth and ____.
a. publicity
b. advertising
c. personal selling
d. service promotion
e. guerrilla marketing
____ is fundamentally the personality of the organization – the reflection of the
company’s vision and goals.
a. Culture
Process
c. The founder
d. Mission
e. Organizational design
____ is the management and control of the flow of goods and resources from the source
of production to the marketplace.
a. Production
b. Logistics
c. Operations
d. Manufacturing
e. The just-in-time system
To the extent that entrepreneurs can predict the points of takeoff (optimism) and
slowdown (pessimism) in the ____, they can better manage demand.
a. life cycle
b. marketing plan
c. diffusion cycle
d. promotion plan
e. None of these choices
Intellectual-property rights are legal rights associated with patents, trademarks,
copyrights, and trade secrets.
a. True
b. False
Poor execution, time-to-market increases, and missed first-to-market opportunities are
some of the problems associated with ____.
a. lack of new product development resources
b. new product development failure
c. failure to protect intellectual property
d. lack of teamwork
e. All of these choices
Strategies that take the business into the international arena are _____ strategies.
a. Global
b. Diversified
c. Intensive growth
d. Integrative growth
e. Conglomerate
The term entrepreneur has been popular in the United States since the ____.
a. 1920s
b. b. 1940s
c. 1960s
d. 1980s
e. 1990s
In manufacturing businesses, forecasting expenditures is a bit more complex because
____ must be derived first.
a. salaries
b. inventory expenses
c. factory overhead
d. cost of goods sold
e. in-process flow
Attorneys can provide the new venture with a wealth of support, which includes all the
following except ____.
a. assisting in complying with federal, state, and local laws
preparing financial statements
c. advising and preparing documents for intellectual-property rights acquisition
d. negotiating and preparing contracts
e. apprising the entrepreneur of the latest tax reform legislation and helping minimize
the venture’s tax burden
Early in the operation of the business, it is important to identify a qualified attorney
familiar with the industry to handle any potential product liability claims.
a. True
b. False
As long as the market is growing, it is more important that the entrepreneur is solving a
critical pain with a value proposition the customer quickly understands.
a. True
b. False