Business Questions… HELP
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 |
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QUESTION 2
Jim Clark, an IT entrepreneur, became the first Internet billionaire because of his investment in what company?
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Yahoo! Inc. |
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Netscape Communications |
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Google Inc. |
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Microsoft Corp. |
QUESTION 3
In general, the most important source of capital for a new entrepreneurial venture is which of the following?
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Informal investors |
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Venture Capital |
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Banks |
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Profits from the venture |
QUESTION 4
What is the most successful US airline?
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United Airlines, Delta, Continental Southwest |
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QUESTION 5
The highest average TEA rates are found in?
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Middle East & North Africa |
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European Union |
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sub-Saharan Africa and Latin America/Caribbean |
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Asia Pacific/South Asia |
QUESTION 6
According to your textbook, into why type of opportunity should a business idea translate?
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Realistic Easy to implement |
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Attractive |
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Technologically advanced |
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QUESTION 7
What does moving a seed of an idea to a more concrete possibility require?
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Practical thinking |
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Market research Input from others |
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A business plan |
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QUESTION 8
Which of the following most typified a “cocktail entrepreneur”?
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Fails to take action |
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Popular Productive Decisive |
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QUESTION 9
Which of the following is not a part of IDEO’s product design steps?
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Optimize practicality |
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QUESTION 10
What is the only action that the “gather stimuli” stage requires of the entrepreneur?
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· Ask · Think · Do Nothing · Observe |
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QUESTION 11
An important technique in brainstorming is to say:
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“Yes and…” |
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“Yes, but…” |
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“That won’t work because…” |
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“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?
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Paper-writing |
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Brain-writing |
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Mute-storming |
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Paper-storming |
QUESTION 13
In which stage is it important to play devil’s advocate?
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Optimize practicality |
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Multiply stimuli |
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Gather stimuli |
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Create stimuli |
QUESTION 14
On what category of customers should a startup business focus most of its attention?
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STA |
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PTA |
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TTA |
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An even share of STA, PTA, and TTA |
QUESTION 15
An understanding of your STA helps you to:
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Train your employees |
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Find better management |
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Develop a penetration strategy |
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Make better growth decisions |
QUESTION 16
When analyzing an opportunity which trends should you focus on?
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Present Micro trends & Current Macro trends |
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Historical micro trends |
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None of the above |
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None of the above |
QUESTION 17
Which of the following is not a venture stage specifically enumerated in the chapter?
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Investigation |
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Launch |
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Growth |
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Operations |
QUESTION 18
What is the approximate number of baby boomers in the US?
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55 – 60 million |
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60 – 65 million |
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70 – 75 million |
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75 – 80 million |
QUESTION 19
According to the textbook, people of Hispanic descent will comprise 25 % of the US population by what year?
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2020 2030 |
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2035 |
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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?
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$70,000 |
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$200,000 |
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$400,000 |
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$600,000 |
QUESTION 21
The graphical depiction that highlights the diffusion of product acceptance over time is:
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S-Curve |
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C-Curve |
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U-Curve |
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V-Curve |
QUESTION 22
When starting a web business, which measure of effectiveness matters most?
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The number of “eyeballs” looking at your site |
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Profits |
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Click thru rates |
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Overhead expenses |
QUESTION 23
Generally speaking, what is the lowest level of total revenue in which a market becomes attractive for new entrants?
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$15 million |
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$20 million |
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$25 million |
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$30 million |
QUESTION 24
What is an example of a relatively inelastic product?
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Burgers |
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Train tickets |
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Gasoline |
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DVD Discs |
QUESTION 25
What is the short-sighted thinking behind the penetration-pricing strategy?
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Pricing below competitors will lead to higher market share |
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Gross margins should be very high for a new product |
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Loyal customers demand the lowest price |
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The simplest method of selective prices saves time |
