Question 1

A ____________ __________ is a framework of how all the different interrelated parts of a business work together to create value in the marketplace.

Accepted Answer

The answer of A ____________ __________ is a framework of...

Question 2

SMART is an acronym for which of the following objectives?

Accepted Answer

A)  specific, momentous, attainable, revenue based, and time sensitive 
B)  specific, momentous, attainable, realistic, and timely 
C)  specific, measurable, action based, realistic, and time framed 
D)  specific, measurable, action based, revenue based, and time framed 
A)  specific, momentous, attainable, revenue based, and time sensitive 
B)  specific, momentous, attainable, realistic, and timely 
C)  specific, measurable, action based, realistic, and time framed 
D)  specific, measurable, action based, revenue based, and time framed

Question 3

Specific, measurable, action-based, realistic, and time-framed are terms that define useful ____________ .

Accepted Answer

The answer of Specific, measurable, action-based, realistic, and time-framed are...

Question 4

According to Michael Porter, what factors are external to the company?

Accepted Answer

A)  strengths and weaknesses 
B)  strengths and opportunities 
C)  opportunities and threats 
D)  threats and weaknesses 
A)  strengths and weaknesses 
B)  strengths and opportunities 
C)  opportunities and threats 
D)  threats and weaknesses

Question 5

Which of the following is a defining characteristic of a business vision?

Accepted Answer

A)  your company's purpose and aims 
B)  personal values 
C)  where you want to be 
D)  how you are going to get there 
A)  your company's purpose and aims 
B)  personal values 
C)  where you want to be 
D)  how you are going to get there

Question 6

What is represented by the statement "To help time-strapped adults prepare and eat healthy meals"?

Accepted Answer

A)  mission 
B)  objective 
C)  vision 
D)  values statement 
A)  mission 
B)  objective 
C)  vision 
D)  values statement

Question 7

Which of the following best defines a market gap?

Accepted Answer

A)  where you want your business to go 
B)  an area where needs are not being met 
C)  a small target market 
D)  a weakness within the marketing department 
A)  where you want your business to go 
B)  an area where needs are not being met 
C)  a small target market 
D)  a weakness within the marketing department

Question 8

When brainstorming, you are trying to come up with the most reasonable ideas.

Accepted Answer

A) True 
 B)False

Question 9

What is the term for the process of getting all the different functions of a business working to create value?

Accepted Answer

A)  market grid 
B)  brainstorming 
C)  Business Model Canvas 
D)  business strategy 
A)  market grid 
B)  brainstorming 
C)  Business Model Canvas 
D)  business strategy

Question 10

Which statement best identifies the market research findings of Crazy Plates trio Greta and Janet Podleski and David Chilton?

Accepted Answer

A)  an increase in Canadians reading cookbooks 
B)  a rise in the number of "time strapped" Canadians 
C)  a market gap for dishes and household items 
D)  a huge demand for a second Crazy Plates edition 
A)  an increase in Canadians reading cookbooks 
B)  a rise in the number of "time strapped" Canadians 
C)  a market gap for dishes and household items 
D)  a huge demand for a second Crazy Plates edition

Question 11

According to the author, turning problems into opportunities is a key to small-business success.

Accepted Answer

A) True 
 B)False

Question 12

An industry segment is an area of the market where needs are not being met.

Accepted Answer

A) True 
 B)False

Question 13

Your business mission statement sets out the things in life that are important to you.

Accepted Answer

A) True 
 B)False

Question 14

A brainstorm will not help identify gaps in the marketplace.

Accepted Answer

A) True 
 B)False

Question 15

A market gap is an area of the market where needs are being met.

Accepted Answer

A) True 
 B)False

Question 16

Trust in and concern for others are examples of the mission objectives for a business.

Accepted Answer

A) True 
 B)False

A __ is a framework of how all the different interrelated parts of a business work together to create value in the marketplace.

SMART is an acronym for which of the following objectives?

Specific, measurable, action-based, realistic, and time-framed are terms that define useful ____________ .

According to Michael Porter, what factors are external to the company?

Which of the following is a defining characteristic of a business vision?

What is represented by the statement "To help time-strapped adults prepare and eat healthy meals"?

Which of the following best defines a market gap?

When brainstorming, you are trying to come up with the most reasonable ideas.

What is the term for the process of getting all the different functions of a business working to create value?

Which statement best identifies the market research findings of Crazy Plates trio Greta and Janet Podleski and David Chilton?

According to the author, turning problems into opportunities is a key to small-business success.

An industry segment is an area of the market where needs are not being met.

Your business mission statement sets out the things in life that are important to you.

A brainstorm will not help identify gaps in the marketplace.

A market gap is an area of the market where needs are being met.

Trust in and concern for others are examples of the mission objectives for a business.

Your Great Adventure: Exploring Your Options

Spotting Trends and Opportunities

Profiling Your Target Customer

Learning From the Competition

Marketing: Pricing and Promoting

Marketing: Distribution and Location

Legal Concerns

Risk Management Issues

The Power of Numbers

Financing Your Business

Building and Managing a Winning Team

Buying a Business

Buying a Franchise or Franchising

Pulling the Plan Together

Filters

Exam 3: Positioning Yourself As an Entrepreneur

A ____________ __________ is a framework of how all the different interrelated parts of a business work together to create value in the marketplace.

SMART is an acronym for which of the following objectives?

Specific, measurable, action-based, realistic, and time-framed are terms that define useful ____________ .

According to Michael Porter, what factors are external to the company?

Which of the following is a defining characteristic of a business vision?

What is represented by the statement "To help time-strapped adults prepare and eat healthy meals"?

Which of the following best defines a market gap?

When brainstorming, you are trying to come up with the most reasonable ideas.

What is the term for the process of getting all the different functions of a business working to create value?

Which statement best identifies the market research findings of Crazy Plates trio Greta and Janet Podleski and David Chilton?

According to the author, turning problems into opportunities is a key to small-business success.

An industry segment is an area of the market where needs are not being met.

Your business mission statement sets out the things in life that are important to you.

A brainstorm will not help identify gaps in the marketplace.

A market gap is an area of the market where needs are being met.

Trust in and concern for others are examples of the mission objectives for a business.

Your Great Adventure: Exploring Your Options

Spotting Trends and Opportunities

Profiling Your Target Customer

Learning From the Competition

Marketing: Pricing and Promoting

Marketing: Distribution and Location

Legal Concerns

Risk Management Issues

The Power of Numbers

Financing Your Business

Building and Managing a Winning Team

Buying a Business

Buying a Franchise or Franchising

Pulling the Plan Together

Filters

A __ is a framework of how all the different interrelated parts of a business work together to create value in the marketplace.