Which of the following is not a technique that can help entrepreneurs arrive at a
realistic forecast of demand for their product or service?
a. Talk to customers
Interview prospective end-users and intermediaries
c. Prepare revenue forecasts
d. Apply the entrepreneur’s knowledge and experience
e. Go into limited production
Strategies are the plans for achieving the goals, and ultimately the mission, of the
company.
a. True
b. False
In ethics theory, there are generally three broad categories of perspectives about an
ethical dilemma: ____, obligations, and utility.
a. accountability
b. awareness
c. ideals
d. values
e. actions
The late 1990s brought the “dot com” bubble and the rush of the ____ community to
position itself for what appeared to be a new way of doing business.
a. venture capital
b. b. technology
c. knowledge
d. educational
e. global
An integral part of a team-based approach to organizational management is ____.
a. contingency planning
b. management by objectives
c. cross-training
d. employee empowerment
e. human resource management
Observation, online or in-person surveys, phone surveys, interviews, and informal focus
group are all ways to collect ____ data.
a. secondary
b. primary
c. third-party
d. sample
e. All of these choices
During the interview process for new hires, it is recommended that entrepreneurs ask
____.
a. the age of the candidate
b. open-ended questions
c. lifestyle questions
d. questions about personal beliefs
e. None of these choices
The model most commonly used to help an entrepreneur analyze an industry is ____.
a. Porter’s Four Forces Model
Porter’s Five Forces Model
c. the PEST Model
d. the SWOT Analysis Model
e. None of these choices
Strictly speaking, Schumpeter did not see ____ as innovation even if they generated
economic growth.
a. commercialized improvements
b. radical improvements
c. incremental improvements
d. patented improvements
e. None of these choices
In general, manufacturing and production firms are organized as ____-focused or
____-focused organizations.
a. product / service
b. input / output
c. product / process
d. product / project
e. insourcing / outsourcing
Once created, a properly constructed and researched business model will not need to
change.
a. True
b. False
In a/an ____, corporate stock is owned privately by a few individuals and is not traded
publicly on a securities exchange.
a. partnership
b. sole proprietorship
c. closely held corporation
d. open corporation
e. limited partnership
The government can limit entry to an industry or market through strict licensing
requirements and by limiting access to raw materials via laws or high taxes and to
certain locations by means of zoning restrictions.
a. True
b. False
New industries are born when technological change produces a/an ____ opportunity
that an enterprising entrepreneur seizes.
a. investment
b. b. novel
c. crucial
d. successful
e. efficient
The best way, and sometimes the only way, to accurately gauge customer demand is to
____.
a. test a prototype
b. go into limited production
c. do market research
d. do a feasibility study
e. None of these choices
Entrepreneurs must find the best organizational structure considering all of these factors
except:
a. Existing contextual factors
b. Design factors
c. Structural factors
d. All of the above factors should be considered
e. Only A and B should be considered
Launch objectives are the key goals for the marketing campaign.
a. True
b. False
Discuss the advantages of utilizing a single vendor.
Imagine a college campus in an historic section of town with few affordable restaurants
for students. The campus also has a large group of international students without
transportation. You are a restaurant owner on the edge of town looking to provide food
delivery to campus. Write a value proposition and a compelling story for this scenario.
Briefly discuss the differences between a feasibility analysis and a business plan.
List the various legal structural forms available to an entrepreneur according to the level
of risk of each.
Discuss three common problems that result from a lack of sufficient new product
development resources.
List the six different definitions of value.
Explain the principle of design thinking.