Entrepreneurship Mind

Question 1

It's customers talk to a real person for help (e.g., customer service hotlines, in-store assistance).

Accepted Answer

Personal Assistance

Question 2

The ability to develop new ideas, products, or services.

Accepted Answer

Innovation

Question 3

Cost advantages from expanding a company's operations.

Accepted Answer

Economies of Scope

Question 4

What are the two types of owned channels?

Accepted Answer

Direct and Indirect Channels

Question 5

Cost that remain constant regardless of production level.

Accepted Answer

Fixed Costs

Question 6

It focuses on value creation, often with premium offerings and personalized services (e.g., luxury hotels).

Accepted Answer

Value-Driven

Question 7

These resources are all about money, credit, or funding that supports the business.

Accepted Answer

Financial Resources

Question 8

Entrepreneurs inspire teams and set long-term business goals.

Accepted Answer

Leadership and Vision

Question 9

It is called _______ when strategic partnerships between competitors.

Accepted Answer

Coopetition

Question 10

It is called _______ when ensures reliable supply of inputs, raw materials, or services.

Accepted Answer

Buyer-Supplier Relationships

Question 11

Entrepreneurs embrace uncertainty and make bold decisions.

Accepted Answer

Risk-taking

Question 12

These resources are all about buildings, machines, vehicles, and systems needed for operations.

Accepted Answer

Physical Resources

Question 13

Cost that change with production value.

Accepted Answer

Variable Costs

Question 14

Customers get what they need on their own (e.g., FAQs, self-checkout kiosks).

Accepted Answer

Self-service

Question 15

Cost advantages as a company's output increases.

Accepted Answer

Economies of Scale

Question 16

Connects two or more interdependent customer groups and provides value by facilitating their interactions.

Accepted Answer

Multi- Sided Market

Question 17

Specific audience, caters to a specific group of consumers with unique needs, preferences, or interests.

Accepted Answer

Niche Market

Question 18

It is called _______ when between non-competitors to benefit from each other’s strengths.

Accepted Answer

Strategic Allies

Question 19

It builds online groups where customers share knowledge and experiences (e.g., forums, brand Facebook groups).

Accepted Answer

Communities

Question 20

It is called _______ when two or more companies create a new business together or co-develop new services.

Accepted Answer

Joint Ventures

Question 21

Overcoming setbacks and persevering through challenges is crucial.

Accepted Answer

Resilience

Question 22

These resources are all about brands, patents, copyrights, and customer data that add value.

Accepted Answer

Intellectual Resources

Question 23

These resources are all about skilled people, especially in knowledge-based industries.

Accepted Answer

Human Resources

Question 24

What is a key feature of transaction-based revenue?

Accepted Answer

Customers pay once for a product or service

Question 25

Divides abroad consumer market into smaller groups based on shared characteristics.

Accepted Answer

Segmented

Question 26

Caters to multiple, distinct customer segments with different needs.

Accepted Answer

Diversified

Question 27

A specific person is assigned to a customer, common in private banking and key account management.

Accepted Answer

Dedicated Personal Assistance

Question 28

It focuses on minimizing costs, typically through low-price value propositions, automation, and outsourcing.

Accepted Answer

Cost-Driven

Question 29

The business landscape changes quickly, requiring entrepreneurs to pivot when necessary.

Accepted Answer

Adaptability

Question 30

Which of the following is an example of recurring revenue?

Accepted Answer

Paying for a Netflix subscription

Question 31

Customers help improve or create content and products (e.g., Lazada reviews and ratings, YouTube content creators).

Accepted Answer

Co-creation

Question 32

Generic audience, designed to appeal to a broad audience.

Accepted Answer

Mass Market

Question 33

Technology provides customized assistance,like online recommendations and chatbots.

Accepted Answer

Auto-mated Service

Entrepreneurship Mind

Questions 33

Entrepreneurship Mind

Questions 33