A new industry goes through volatile and rapid changes as companies and their
respective technologies jockey for position and the right to determine industry
standards. This is what stage of the industry life cycle?
a. Birth
b. Shakeout
c. Differentiation and competition
d. Growth and adaptation
e. Maturity and decline
Business concepts are developed quickly and can be funded and operational within two
days.
a. True
b. False
To register a trademark online, one would navigate to:
a. TESS
b. US.gov
c. USPTO
d. Whitehouse.gov
e. None of these choices
____ plans help a growing business deal with events that regularly – and often without
much warning – disrupt the equilibrium of the firm.
a. Risk assessment
b. Contingency
c. Liquidation
d. Bankruptcy
e. Succession
The term sheet is a letter of intent that spells out the terms the VC is prepared to accept.
a. True
b. False
Which of the following is not a concern for lenders when they consider an entrepreneur
for a loan?
a. The amount of money that is needed
b. The kind of positive impact the loan will have on the business
c. The number of strategic partners the venture has
d. The kinds of assets the business has for collateral
e. How the business will repay the loan
For a new product or service to be successful, it should ____.
a. not be too expensive
b. provide long-term utility
c. solve a problem that customers have
d. have a good warranty
e. be the leader in the product line
Research has enabled us to identify the characteristics of the typical entrepreneur. .
a. True
b. False
It is extremely difficult to calculate with any degree of accuracy the probability that a
given risk will occur.
a. True
b. False
In a manufacturing business, which of the following is not part of the calculations used
to forecast the costs of goods sold (COGS)?
a. Direct labor
b. Cost of materials
c. Direct factory overhead
d. Product delivery
e. Work-in-process flow
In a sole proprietorship, the owner is the only person responsible for the activities of the
business and, therefore, is the only one to enjoy the profits and suffer the losses.
a. True
b. False
A ____ is the community of partners, suppliers, and other members of the value chain
with which the venture does business.
a. customer network
b. value network
c. business network
d. shareholder network
e. None of these choices
Smaller businesses for sale often use the services of ____.
a. investment bankers
b. investment advisors
c. financial attorneys
d. business brokers
e. None of these choices
What is the phrase that is associated with the costs to produce a product when those
costs have declined relative to the price of industry’s goods and services?
a. Threat of new entrants
Price and quality of alternatives
c. Switching costs
d. Economies of scale
e. Costs of inputs
Print (such as newspapers) and broadcast (such as radio) are two categories of ____.
a. product branding
b. distribution strategies
c. traditional advertising
d. pricing strategies
e. guerilla marketing
One way to stem complaints at the source is to provide ____.
a. sales promotion
b. publicity
c. satisfaction surveys
d. public relations
e. complaint forms
When you validate a customer, you are:
a. Ensuring that the customer will buy the product
b. Ensuring that a solution currently exists
c. Filing for intellectual property protection
d. All of these choices
e. None of these choices