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Business Questions… HELP

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QUESTION 1

; Which of the following entrepreneurs was one of the pioneers of the biotechnology industry?

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Robert Noyce,

Tim Nerners-Lee

George Gendron

Robert Swanson

QUESTION 2

; Jim Clark, an IT entrepreneur, became the first Internet billionaire because of his investment in what company?

Yahoo! Inc.

Netscape Communications

Google Inc.

Microsoft Corp.

QUESTION 3

; In general, the most important source of capital for a new entrepreneurial venture is which of the following?

Informal investors

Venture Capital

Banks

Profits from the venture

QUESTION 4

; What is the most successful US airline?



;

; United Airlines, Delta, ; Continental Southwest ;

;

QUESTION 5

; The highest average TEA rates are found in?



;

;

; Middle East & North Africa


;

;

; European Union


;

;

sub-Saharan Africa and Latin America/Caribbean


;

;

; Asia Pacific/South Asia


QUESTION 6

; According to your textbook, into why type of opportunity should a business idea translate?



;

; Realistic

; Easy to implement ;

;

; Attractive ;

;

; Technologically advanced ;

;

;

;

QUESTION 7

; What does moving a seed of an idea to a more concrete possibility require?



;

; Practical thinking

;

; Market research

; Input from others

;

; A business plan

;

;

QUESTION 8

; Which of the following most typified a “cocktail entrepreneur”?



;

; Fails to take action

;

;

; Popular

; Productive

; Decisive ;

;

;

QUESTION 9

; Which of the following is not a part of IDEO’s product design steps?



Optimize practicality

;

; ;

Multiply stimuli

Gather stimuli

Create stimuli

QUESTION 10

; What is the only action that the “gather stimuli” stage requires of the entrepreneur?



;

· ; Ask

· ; Think

· ; Do Nothing

· ; Observe

;

;

;

;

;

;

QUESTION 11

; An important technique in brainstorming is to say:



;

;

; “Yes and…”


;

;

; “Yes, but…”


;

;

; “That won’t work because…”


;

;

; “Nice!”


QUESTION 12

; What is the name of the process that is the equivalent of brainstorming, but with a focus on writing rather than verbal communication?



;

;

; Paper-writing


;

;

; Brain-writing


;

;

; Mute-storming


;

;

; Paper-storming


QUESTION 13

; In which stage is it important to play devil’s advocate?



;

;

; Optimize practicality


;

;

; Multiply stimuli


;

;

; Gather stimuli


;

;

; Create stimuli


QUESTION 14

; On what category of customers should a startup business focus most of its attention?



;

;

; STA


;

;

; PTA


;

;

; TTA


;

;

; An even share of STA, PTA, and TTA


QUESTION 15

; An understanding of your STA helps you to:



;

;

; Train your employees


;

;

; Find better management


;

;

; Develop a penetration strategy


;

;

; Make better growth decisions


;

QUESTION 16

; When analyzing an opportunity which trends should you focus on?



;

;

; Present Micro trends & Current Macro trends


;

;

; Historical micro trends


;

;

; None of the above


;

;

; None of the above


; QUESTION 17

; Which of the following is not a venture stage specifically enumerated in the chapter?



;

;

; Investigation


;

;

; Launch


;

;

; Growth


;

;

; Operations


;

QUESTION 18

; What is the approximate number of baby boomers in the US?



;

;

; 55 – 60 million


;

;

; 60 – 65 million


;

;

; 70 – 75 million


;

;

; 75 – 80 million


;

QUESTION 19

; According to the textbook, people of Hispanic descent will comprise 25 % of the US population by what year?



;

;

;

2020

2030


;

;

; 2035


;

;

; 2040


;

QUESTION 20

; To replace $70,000 of forgone salary and benefits, an entrepreneur will need the new venture to generate approximately how much in annual revenue?



;

;

; $70,000


;

;

; $200,000


;

;

; $400,000


;

;

; $600,000


;

QUESTION 21

; The graphical depiction that highlights the diffusion of product acceptance over time is:



;

;

; S-Curve


;

;

; C-Curve


;

;

; U-Curve


;

;

; V-Curve


;

QUESTION 22

; When starting a web business, which measure of effectiveness matters most?



;

;

; The number of “eyeballs” looking at your site


;

;

; Profits


;

;

; Click thru rates


;

;

; Overhead expenses


;

QUESTION 23

; Generally speaking, what is the lowest level of total revenue in which a market becomes attractive for new entrants?



;

;

; $15 million


;

;

; $20 million


;

;

; $25 million


;

;

; $30 million


;

QUESTION 24

; What is an example of a relatively inelastic product?



;

;

; Burgers


;

;

; Train tickets


;

;

; Gasoline


;

;

; DVD Discs


QUESTION 25

; What is the short-sighted thinking behind the penetration-pricing strategy?



;

;

; Pricing below competitors will lead to higher market share


;

;

; Gross margins should be very high for a new product


;

;

; Loyal customers demand the lowest price


;

;

; The simplest method of selective prices saves time


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