Good SCM enables your company to forecast demand, match supply with demand, and
fulfill the demand through optimal distribution channels.
a. True
b. False
Which of the following is not a component of a business model?
a. Pricing model
b. Revenue model
c. Value proposition
d. Internet commerce
e. Action plan
Entrepreneurs are goal-oriented and tend to cite which of the following as a reason for
going into business?
a. Money
b. Prestige
c. Personal values
d. Control
e. Peer pressure
How a product or service is priced is a function of the company’s ____.
a. business plan
feasibility analysis
c. process map
d. goals
e. product demand
Building a complex production system while the company is in startup or later, while it
is rapidly growing, is ____.
a. a recipe for disaster
b. highly recommended
c. recommended only for “born-global” companies
d. likely to be most effective in declining markets
e. the best way to improve quality
____ entrepreneurship is characteristic of small lifestyle businesses.
a. Replicative
b. b. Innovative
c. Local
d. Fragmented
e. None of these choices
____ combine(s) technology, training, and business strategy in a system for gathering
and using information on current and prospective customers.
a. Trade shows and exhibits
b. Online marketing
c. Customer relationship management
d. Advertising
e. Personal selling
____ are used to protect a company against potential risk that can’t be prevented.
a. Buffer strategies
Process improvement strategies
c. Contingency strategies
d. Objectivist strategies
e. Supply chain strategies
Which of the following is not one of the four stages of the creative process identified by
Wallas?
a. Preparation
b. Association
c. Incubation
d. Illumination
e. Verification
VCs are fundamentally risk averse, so it is the entrepreneur’s job to reduce risk in the
three key areas: management risk, technology risk, and ____ risk.
a. business model
investment
c. legal
d. R&D
e. None of these choices
Which ratio uses net income and net sales from the income statement to give the
percentage of each dollar of sales remaining after all costs of normal operations are
accounted for?
a. Return on investment
b. Inventory turnover
c. Current ratio
d. Profit margin
e. Income statement
Building brand equity requires that customers form an emotional attachment to a brand.
a. True
b. False
Entrepreneurship is a personal journey that begins in the mind of the nascent
entrepreneur.
a. True
b. False
Traditional risk management proponents have typically adopted a/an ____ that sees risk
as a physical property that has associated probabilities of occurrence.
a. objectivist view
b. subjectivist view
c. historical view
d. Bayesian view
e. None of these choices
The strongest product POC is a working prototype.
a. True
b. False
A corporation established for charitable, public (scientific, literary, or educational), or
religious purposes or for mutual benefit (trade associations, tennis clubs), as recognized
by federal and state laws, is a ____.
a. nonprofit corporation
b. joint venture
c. syndicate operation
d. limited partnership
e. sole proprietorship
The ratio of new products that are killed in product development is highest for:
a. The best performing products
b. The worst performing products
c. The products with the most utility
d. The products with average performance
e. None of these is correct