Question 1

What is a venture focus?

Accepted Answer

A)  Target industry and type of business 
B)  How your business will make money 
C)  Idea for a potential venture 
D)  How your competitors address customers' issues 
A)  Target industry and type of business 
B)  How your business will make money 
C)  Idea for a potential venture 
D)  How your competitors address customers' issues

Question 2

What are considered internal factors affecting entrepreneurship?

Accepted Answer

A)  Work experience 
B)  Education background 
C)  Family background and business experience 
D)  All of the above 
A)  Work experience 
B)  Education background 
C)  Family background and business experience 
D)  All of the above

Question 3

Why is it important to have or acquire experience in a particular industry in order to grow a successful business in that industry? Can you give a few examples that are exceptions to this general rule?

Accepted Answer

It is important to have or acquire exper

Question 4

What factors do you have to consider when selecting a target industry for a venture:

Accepted Answer

A)  The technology life cycle stage of the industry overall, often reflected by new technologies, products, and services recently announced by players in the industry 
B)  The channels of distribution within an industry 
C)  No existing barriers to entry that might make your life extremely difficult as an entrepreneur 
D)  All of the above 
A)  The technology life cycle stage of the industry overall, often reflected by new technologies, products, and services recently announced by players in the industry 
B)  The channels of distribution within an industry 
C)  No existing barriers to entry that might make your life extremely difficult as an entrepreneur 
D)  All of the above

Question 5

What is a niche within an industry?

Accepted Answer

A)  A subdivision of an industry which includes a set of competitors that address particular customer groups 
B)  A geographic region of an economy 
C)  A new type of technology 
D)  A new emerging customer group 
A)  A subdivision of an industry which includes a set of competitors that address particular customer groups 
B)  A geographic region of an economy 
C)  A new type of technology 
D)  A new emerging customer group

Question 6

What is the difference between invention and innovation?

Accepted Answer

Invention and innovation are terms that

Question 7

A new corporate venture has all of the following advantages over a startup except for

Accepted Answer

A)  Distribution Channels 
B)  Agility 
C)  Credibility 
D)  Manufacturing 
A)  Distribution Channels 
B)  Agility 
C)  Credibility 
D)  Manufacturing

Question 8

Who are initial reference customers?

Accepted Answer

A)  First customers who use your product and will recommend it to others 
B)  Customers who you interview during initial field research 
C)  Friends and family who invest in your company 
D)  People who sign up for a trial product 
A)  First customers who use your product and will recommend it to others 
B)  Customers who you interview during initial field research 
C)  Friends and family who invest in your company 
D)  People who sign up for a trial product

What is a venture focus?

What are considered internal factors affecting entrepreneurship?

Why is it important to have or acquire experience in a particular industry in order to grow a successful business in that industry? Can you give a few examples that are exceptions to this general rule?

What factors do you have to consider when selecting a target industry for a venture:

What is a niche within an industry?

What is the difference between invention and innovation?

A new corporate venture has all of the following advantages over a startup except for

Who are initial reference customers?

Defining the Target Customer

Defining the Needs of Target Customers

Defining Solutions for Customers

Defining the Business Model for a Venture

Positioning and Branding a Venture in the Marketplace

A Reality Check on the Venture Concept and the Business Model

Financial Sources for Startups and Corporate Ventures

Projecting the Financial Performance and Requirements for the Venture

Organizing the Venture Team

Writing the Business Plan

Making the Pitch

Filters

Exam 1: Defining Your Industry Focus and the Type of Business You Want to Start

What is a venture focus?

What are considered internal factors affecting entrepreneurship?

Why is it important to have or acquire experience in a particular industry in order to grow a successful business in that industry? Can you give a few examples that are exceptions to this general rule?

What factors do you have to consider when selecting a target industry for a venture:

What is a niche within an industry?

What is the difference between invention and innovation?

A new corporate venture has all of the following advantages over a startup except for

Who are initial reference customers?

Defining the Target Customer

Defining the Needs of Target Customers

Defining Solutions for Customers

Defining the Business Model for a Venture

Positioning and Branding a Venture in the Marketplace

A Reality Check on the Venture Concept and the Business Model

Financial Sources for Startups and Corporate Ventures

Projecting the Financial Performance and Requirements for the Venture

Organizing the Venture Team

Writing the Business Plan

Making the Pitch

Filters