Question 1

Manufacturing costs are considered to be fixed costs.

Accepted Answer

A) True 
 B)False  False

Question 2

In the context of value proposition, which of the following is NOT considered a benefit to the customer?

Accepted Answer

A)  Reliability 
B)  Speed 
C)  Convenience 
D)  Recyclable packaging 
E)  Better health 
A)  Reliability 
B)  Speed 
C)  Convenience 
D)  Recyclable packaging 
E)  Better health D

Question 3

Discuss the advantages and disadvantages of delivering services  directly to customers.

Accepted Answer

Following are the advantages that an entrepreneur has when delivering services directly to customers:The entrepreneur has large upside potential. 
The entrepreneur has control over branding, pricing, and relationship with customers. 
The entrepreneur is able to manage user data and experience.
Following are the disadvantages that an entrepreneur has when delivering services directly to customers:The entrepreneur has greater risk. 
Cash flow may be unpredictable. 
The entrepreneur must do build-out and initial investment. 
The entrepreneur is responsible for billing and service.

Question 4

Discuss the advantages and disadvantages of selling through an intermediary or a partner.

Accepted Answer

Following are the advantages of selling

Question 5

The part of the feasibility analysis that addresses the issue of intellectual property rights is called the

Accepted Answer

A)  product/service analysis. 
B)  financial needs assessment. 
C)  founding team assessment. 
D)  industry analysis. 
E)  technology assessment. 
A)  product/service analysis. 
B)  financial needs assessment. 
C)  founding team assessment. 
D)  industry analysis. 
E)  technology assessment.

Question 6

_____ a market is dividing it into meaningful and measurable parts based on needs, buyer behaviors, and demographics.

Accepted Answer

A)  Expanding 
B)  Segmenting 
C)  Analyzing 
D)  Dividing 
E)  Portioning 
A)  Expanding 
B)  Segmenting 
C)  Analyzing 
D)  Dividing 
E)  Portioning

Question 7

The value proposition is the benefit that a company derives from a product or service it produces; in other words, it is the reason for the company to be in business.

Accepted Answer

A) True 
 B)False

Question 8

Drucker's five questions are the basis for the development of a business model.

Accepted Answer

A) True 
 B)False

Question 9

Which of the following can cause a change in a business model?

Accepted Answer

A)  Incrementally expanding the existing model geographically 
B)  Revitalizing an established model 
C)  T aking an existing model into new areas 
D)  Adding new models via acquisition 
E)  All of these are correct. 
A)  Incrementally expanding the existing model geographically 
B)  Revitalizing an established model 
C)  T aking an existing model into new areas 
D)  Adding new models via acquisition 
E)  All of these are correct.

Question 10

Feasibility analysis involves the _____, evaluation, and validation of a proposed business model for a new venture.

Accepted Answer

A)  developing 
B)  testing 
C)  planning 
D)  implementing 
E)  blueprinting 
A)  developing 
B)  testing 
C)  planning 
D)  implementing 
E)  blueprinting

Question 11

What are the three questions that a feasibility analysis answers?

Accepted Answer

The three questions that a feasibility a

Question 12

All of the following are  components of a business model EXCEPT

Accepted Answer

A)  v alue proposition. 
B)  b usiness concepts. 
C)  revenue sources. 
D)  customer segments. 
E)  cost drivers. 
A)  v alue proposition. 
B)  b usiness concepts. 
C)  revenue sources. 
D)  customer segments. 
E)  cost drivers.

Question 13

Costs that produce the biggest impact on the cost structure are known as

Accepted Answer

A)  cost structure liabilities. 
B)  key cost drivers. 
C)  incremental cost segments. 
D)  fixed cost requirements. 
E)  funding requirements. 
A)  cost structure liabilities. 
B)  key cost drivers. 
C)  incremental cost segments. 
D)  fixed cost requirements. 
E)  funding requirements.

Question 14

Which of the following needs to be analyzed during feasibility analysis?

Accepted Answer

A)  The industry 
B)  The founding team 
C)  The p roduct/service 
D)  Finance 
E)  All of these are correct. 
A)  The industry 
B)  The founding team 
C)  The p roduct/service 
D)  Finance 
E)  All of these are correct.

Question 15

A(n) _____ is the person or company that pays for what an entrepreneur is offering.

Accepted Answer

A)  strategic partner 
B)  customer 
C)  importer 
D)  intermediary 
E)  supplier 
A)  strategic partner 
B)  customer 
C)  importer 
D)  intermediary 
E)  supplier

Question 16

Benefits reflect attributes of a product such as design and physical characteristics or functions.

Accepted Answer

A) True 
 B)False

Question 17

At its essence, the business model reflects the strategic decisions and trade-offs that entrepreneurs make to earn a profit.

Accepted Answer

A) True 
 B)False

Question 18

Which of the following is NOT a component of a business model?

Accepted Answer

A)  Strategic partners 
B)  Customer segments 
C)  Value proposition 
D)  Distribution channels 
E)  Stakeholder pressure 
A)  Strategic partners 
B)  Customer segments 
C)  Value proposition 
D)  Distribution channels 
E)  Stakeholder pressure

Question 19

Startups that find themselves trying to compete for value with large, established firms that have strong negotiating power often focus on the acquisition of intellectual property and know-how that they can control and develop to where it is attractive to one of the dominant firms.

Accepted Answer

A) True 
 B)False

Question 20

Which of the following is an advantage of selling through an intermediary or partner?

Accepted Answer

A)  The partner gets the upside potential. 
B)  Cash flow is more predictable if the entrepreneur has a licensing agreement. 
C)  The  entrepreneur is a ble to manage user data and experience. 
D)  The entrepreneur has control over branding, pricing, and relationship with customers. 
E)  All of these are correct. 
A)  The partner gets the upside potential. 
B)  Cash flow is more predictable if the entrepreneur has a licensing agreement. 
C)  The  entrepreneur is a ble to manage user data and experience. 
D)  The entrepreneur has control over branding, pricing, and relationship with customers. 
E)  All of these are correct.

Manufacturing costs are considered to be fixed costs.

In the context of value proposition, which of the following is NOT considered a benefit to the customer?

Discuss the advantages and disadvantages of delivering services directly to customers.

Discuss the advantages and disadvantages of selling through an intermediary or a partner.

The part of the feasibility analysis that addresses the issue of intellectual property rights is called the

_____ a market is dividing it into meaningful and measurable parts based on needs, buyer behaviors, and demographics.

The value proposition is the benefit that a company derives from a product or service it produces; in other words, it is the reason for the company to be in business.

Drucker's five questions are the basis for the development of a business model.

Which of the following can cause a change in a business model?

Feasibility analysis involves the _____, evaluation, and validation of a proposed business model for a new venture.

What are the three questions that a feasibility analysis answers?

All of the following are components of a business model EXCEPT

Costs that produce the biggest impact on the cost structure are known as

Which of the following needs to be analyzed during feasibility analysis?

A(n) _____ is the person or company that pays for what an entrepreneur is offering.

Benefits reflect attributes of a product such as design and physical characteristics or functions.

At its essence, the business model reflects the strategic decisions and trade-offs that entrepreneurs make to earn a profit.

Which of the following is NOT a component of a business model?

Startups that find themselves trying to compete for value with large, established firms that have strong negotiating power often focus on the acquisition of intellectual property and know-how that they can control and develop to where it is attractive to one of the dominant firms.

Which of the following is an advantage of selling through an intermediary or partner?

Understanding Entrepreneurship

Preparing for the Entrepreneurial Journey

Creating Opportunity

Analyzing the Industry and Market

Prototyping and Validating a Solution

Protecting the Startups Assets

Building the Founding Team

Calculating Startup Capital Requirements

Preparing a Business Plan

Designing an Entrepreneurial Organization

Planning Startup Operations

Choosing the Legal Form of Organization

Developing a Startup Marketing Plan

Incorporating Ethics and Social Responsibility Into the Business

Funding Startup and Growth

Planning for Growth and Change

Filters

Exam 5: Developing and Testing a Business Model

Manufacturing costs are considered to be fixed costs.

In the context of value proposition, which of the following is NOT considered a benefit to the customer?

Discuss the advantages and disadvantages of delivering services directly to customers.

Discuss the advantages and disadvantages of selling through an intermediary or a partner.

The part of the feasibility analysis that addresses the issue of intellectual property rights is called the

_____ a market is dividing it into meaningful and measurable parts based on needs, buyer behaviors, and demographics.

The value proposition is the benefit that a company derives from a product or service it produces; in other words, it is the reason for the company to be in business.

Drucker's five questions are the basis for the development of a business model.

Which of the following can cause a change in a business model?

Feasibility analysis involves the _____, evaluation, and validation of a proposed business model for a new venture.

What are the three questions that a feasibility analysis answers?

All of the following are components of a business model EXCEPT

Costs that produce the biggest impact on the cost structure are known as

Which of the following needs to be analyzed during feasibility analysis?

A(n) _____ is the person or company that pays for what an entrepreneur is offering.

Benefits reflect attributes of a product such as design and physical characteristics or functions.

At its essence, the business model reflects the strategic decisions and trade-offs that entrepreneurs make to earn a profit.

Which of the following is NOT a component of a business model?

Startups that find themselves trying to compete for value with large, established firms that have strong negotiating power often focus on the acquisition of intellectual property and know-how that they can control and develop to where it is attractive to one of the dominant firms.

Which of the following is an advantage of selling through an intermediary or partner?

Understanding Entrepreneurship

Preparing for the Entrepreneurial Journey

Creating Opportunity

Analyzing the Industry and Market

Prototyping and Validating a Solution

Protecting the Startups Assets

Building the Founding Team

Calculating Startup Capital Requirements

Preparing a Business Plan

Designing an Entrepreneurial Organization

Planning Startup Operations

Choosing the Legal Form of Organization

Developing a Startup Marketing Plan

Incorporating Ethics and Social Responsibility Into the Business

Funding Startup and Growth

Planning for Growth and Change

Filters