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Entrepreneurship Semester 1 Final Flashcards | StudBud
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Entrepreneurship Semester 1 Final
Name That Company:
Which is not part of the formal Business Plan?
Entrepreneurship Semester 1 Final
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Questions
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Answers
1
Which is not part of the formal Business Plan?
Owners Resume
SWOT Analysis
Marketing Plan
Executive Summary
2
Name That Company:
Gatorade
EA Sports
Slime
Hatorade
3
Entrepreneurs must assume all liability for the company and take ________ _________ in order to succeed
Minimal Risks
Spontaneous Risks
Calculated Risks
No Risks
4
Evaluating business goals and fit with the staff, opportunity costs of financial stakeholders, risk reward tolerance?
Economics and Profitability
Industry and Market Evaluation
Competitive Advantage Analysis
Self & Investor Analysis
5
Name That Movie:
Cinderella
Snow White
Tangled
Frozen
6
The Business Plan is a visual summary of the business model, often on one page.
False
True
7
Target markets can be everyone:
True
False
8
What is most important when it comes to customers?
Sales
Surveys
Relationships
Contact Information
9
Process of translating an idea or invention into a good or service.
Creativity
Innovation
Business Plan
Idea
10
Entrepreneurship is not _______.
A mindset for those who are always looking for opportunity
A good fit for those who take risks
a get rich-quick scheme
Time consuming
11
A human-centered process for creative problem-solving.
Empathy Interview
Startup
Design Thinking
Customer Discovery
12
An individual who creates a new business, bearing most of the risks and enjoying most of the rewards.
Entrepreneur
Investor
Mentor
Customer
13
A tool used to gain deeper insight into the end-user.
Empathy Mapping
Design Thinking
Customer Segmentation
Empathy Interview
14
Which of the 4 "P's" of marketing deals with financial aspects of your product?
Product
Price
Promotion
Place
15
Define Channel from a marketing perspective.
Sharing your Value Propositions with others
The way you receive funds from customers
The station that you watch on TV
The way you "turn" out your product to the public
16
Name That TV Show:
Online Girl
Carly and Sam
IGirly
ICarly
17
A concept or thought without a plan.
Creativity
Innovation
Idea
Business
18
An entrepreneur whose original goal was not to run a business or begin a startup.
Accidental
Hobbyist
Social
Silver Spoon
19
A statement that clearly identifies what you/your business is delivering.
Value Proposition
Business Model Canvas
Problem Statement
Customer Discovery
20
Name That Company:
American Family Insurance
FILA
Champion
Costco
21
Potential of the mind to conceive new ideas.
Creativity
Idea
Business Plan
Innovation
22
The Business Plan and Business Model Canvas are static documents that are written early in the planning phase.
False
True
23
A type of research that is designed with a specific outcome in mind.
Customer Discovery
Primary Research
Trade Journals
Secondary Research
24
Which analysis looks at a business's perceived customers or market, expected lifetime use, and growth potential?
Economics and Profitability
Self & Investor Analysis
Competitive Advantage Analysis
Industry and Market Evaluation
25
Which of the 4 "P's" of marketing pertains to advertising?
Promotion
Product
Place
Price
26
The Problem Statement, is a firm statement and will not change as you research and develop other areas of the business.
True
False
27
Name That Artist:
Meek Mill
Jay-Z
Young Jeezy
Ye
28
Which type of entrepreneur has motivations come from them wanting to make their hobby into a career
Social
Hobbyist
Accidental
Silver Spoon
29
What do the letters MVP stand for in Entrepreneurship?
Minimum Viable Profit
Minimum Viable Product
Most Valuable Player
Maximize Vital Profits
30
An idea with a plan.
Business Plan
Idea
Creativity
Innovation
31
A temporary organization that searches for a repeatable and scalable business model.
MVP
Customer Discovery
Startup
Prototype
32
Which type of entrepreneur is motivated by social or climate concerns?
Hobbyist
Accidental
Social
Silver Spoon
33
Research that has already been done, data has been analyzed, and can be applied right away.
Customer Discovery
Primary Research
Customer Segmentation
Secondary Research
34
Name That Movie:
Home Alone
A Christmas Story
Christmas Vacation
Kevin!
35
Name That TV Show:
Victorious
Suite Life on Deck
Good Luck Charlie
Jessie
36
Process and methods used to gather, analyze, report findings in order to identify opportunities, and solve problems.
Market Research
Customer Segmentation
Value Proposition
Customer Discovery
37
Which is not one some ways to foster a culture of creativity and innovation in the workplace?
Hire teams of similar people
Train for and model creativity
Encourage risks, tolerate failures
View problems as challenges
38
Analysis of the business's potential management style, team structure/composition, and their backgrounds and integrity?
Management and Team Evaluation
Economic and Profitability Evaluation
Industry and Market Evaluation
Self and Investor Evaluation
39
A strategic business template designed to enable an individual to understand a startup in a clear, and structured way.
Business Plan
Business Model Canvas
Business Policy
Executive Summary
40
Pick two essential characteristics of successful entrepreneurs.
Passionate and Purpose-Driven
Profit-oriented and Independent
Extroverted and Aggressive
Formally Educated and Driven
41
Name That Artist:
Alicia Keyes
Beyonce
Ariana Grande
Mariah Carey
42
Name That Company:
Tide
Blue Light
Chevrolet
Blue Cross Blue Shield
43
Which of the following resources could provide you with Secondary Research Data
?
Customer Interviews
Online Surveys
Trade Magazines
Focus Groups
44
Name That Artist:
Backstreet Boys
N'SYNC
45
Analysis of the capital needed to start, projected profit and breakeven points, and the return on investment potential?
Economics and Profitability
Self & Investor Analysis
Competitive Advantage Analysis
Industry and Market Evaluation
46
Name That Movie:
Dogs With Spots
100 Dalmatians
101 Dalmatians
Krewella
47
Which is not a section of the Business Model Canvas?
Executive Summary
Value Proposition
Customer Discovery
Problem Statement
48
Name That Show:
Rhen and Stimpy
Rick and Morty
Phineas and Ferb
Tom and Jerry
49
Your ideal group of customers who will benefit from your value proposition.
Target Market
Customer
Influencer
Market
50
Process used to reduce risk when identifying customer segments.
Problem Statement
Value Proposition
Empathy Interview
Creativity
