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The vision that guides a company in the right direction is expressed through its ____.
a. core values
b. purpose
c. mission
d. goals
e. All of these choices
The illumination step in Wallas's creative process brings the idea to an outcome.
a. True
b. False
Through giving something back to the community or communities in which it does
business, and thus to society as a whole, a business holds itself to a higher standard of
____.
a. social responsibility
b. business ethics
c. corporate culture
d. social ventures
e. core values
Having a strategic plan in place for the venture enables the entrepreneur to choose a
legal form that won't have to be changed or one that can easily be shifted to when the
time is right.
a. True
b. False
The two fundamental activities that comprise a/an ____ are creating and capturing
value.
a. business model
b. business plan
c. action plan
d. business concept
e. value network
A logo may be a trademark.
a. True
b. False
Creativity is the behavior that results in ____.
a. manipulation
b. innovation
c. intuition
d. illumination
e. problem solving
Product- or project-focused organizations generally are highly ____ so that they can
respond better to market demands.
a. functional
b. decentralized
c. centralized
d. mobile
e. None of these choices
In a wholly owned or closely held corporation, there really is little distinction between
the functions of a board of directors and those of a board of advisers.
a. True
b. False
In general, the ____ is the one who pays for the product.
a. company
b. customer
c. importer
d. founder
e. None of these choices
Define a nonprofit corporation.
Briefly discuss the three strategies a business might use to coordinate its IP strategy
with its business strategy.
What is the "lean startup" movement, and what was its origin?
Briefly discuss the elements of a successful business plan presentation.
Briefly describe what entrepreneurship is.
Discuss the process of developing a code of ethics.
What are the primary considerations to take into account before asking a family
member or close friend to be a partner?
