Exam 2: Defining Your E-Business Idea

Starting your own business is a great way to set your own work schedule which typically includes plenty of time off to enjoy other pursuits.

When the value of an e-business's products and services increase because of distribution over the Internet and the Web, the e-business is exploiting:

Changing market conditions can affect how well an entrepreneur executes his or her e-business idea.

The_______________explains how the overall value of a product or service grows as more and more people use the product or service.

Which of the following entrepreneurial abilities is essential to getting things done on time?

The e-business marketspace is characterized by rapid knowledge transfer and the need for entrepreneurs to be able to make decisions quickly.

Changing_______________conditions may impact how well a business will be able to execute its e-business idea.

Many successful entrepreneurs display their_______________natures early in life in their approach to school, hobbies, and sports.

An e-business's ability to secure first-mover advantage and name identification guarantees its success over its competitors.

The marketing technique that exploits the power of the network effect to rapidly spread information about a new e-business and its products or services is called:

An important factor in an e-business's ultimate success or failure is how well its original e-business idea adapts to changes in the marketplace.

An online presence created by a Web site affords a company greater business visibility even if it sells its products offline through traditional sales channels.

The ability of an e-business idea to continue to function in the face of sudden growth is called:

The time and effort an entrepreneur puts in to starting his or her own business is called sweat equity.

The growth in the number of C2C auction sites, such as eBay, provides a good example of the ease with which new e-businesses can enter a virtual marketplace.

Market conditions, execution, and_______________all play an important role in exploiting the Internet and the Web to expand the market for an e-business's products or services.

Successful e-business entrepreneurs develop imaginative ways of exploiting the_______________in order to market products and services to new customers.

The rapid spread of information about products and services by electronic word of mouth is sometimes called_______________marketing.

The_______________is divided into several stages or steps as a person moves from wanting to start his or her own business to starting, operating, and harvesting it.

Discuss five entrepreneurial traits or abilities that are common to individuals who successfully start, operate, and grow their own businesses.