Question 1

Going global increases risk and requires capital.

Accepted Answer

A) True 
 B)False

Question 2

Of the following differentiators, which most commonly determines the success of a company?

Accepted Answer

A) The number of distinct products offered 
B) Competitive advantage 
C) Being the first player to enter a market 
D) Better execution than the competition 
E) A and C

Question 3

Under the Foreign Direct Investment strategy, the startup retains control of the assets and facilities, which results in a cheap and easy means to go global.

Accepted Answer

A) True 
 B)False

Question 4

A strategy that attempts to capture the first-mover's advantage is usually the most inexpensive.

Accepted Answer

A) True 
 B)False

Question 5

Learning from others is less efficient than learning from one's own mistakes.

Accepted Answer

A) True 
 B)False

Question 6

According to Dickson, there are how many types of global, entrepreneurial firms?

Accepted Answer

A) 2 
B) 3 
C) 4 
D) 5 
E) None of the above

Question 7

Mergers and acquisitions are likely to increase a company's survival rate when used as a means for growth.

Accepted Answer

A) True 
 B)False

Question 8

Explain why every startup that plans to grow must benchmark its competitors, devise an initial market test, and create a platform for its business.

Accepted Answer

The answer of Explain why every startup that plans to...

Question 9

Which of the following influence a company's revenue?

Accepted Answer

A) "Markers" 
B) "Headers" 
C) "Drivers" 
D) A and B 
E) None of the above

Question 10

COGS is a cost measure that applies to companies that manufacture tangible products; COGS cannot be computed for firms that deal exclusively in a service-based revenue model.

Accepted Answer

A) True 
 B)False

Question 11

What risks does the company take when expanding its product mix?

Accepted Answer

A) The company may incur unwieldy development expenses. 
B) The market may not accept the new product. 
C) Unsuccessful products can damage the brand. 
D) All of the above 
E) None of the above

Question 12

By merging different revenue sources into as few categories as possible, you make your business model more comprehensive.

Accepted Answer

A) True 
 B)False

Question 13

Exporting is one of the most expensive ways to enter new markets.

Accepted Answer

A) True 
 B)False

Question 14

How many beta-tests of the product should the company do before releasing it to the market?

Accepted Answer

A) As many as necessary 
B) At least 3 
C) Not more than 5 
D) 5 to 10 
E) B and C

Question 15

It is a good idea for a startup to hire employees who are:

Accepted Answer

A) Used to working in one functional area 
B) Overqualified for their initial roles 
C) Young and have little experience, but big potential 
D) Educated for the tasks, but have little experience 
E) All of the above

Question 16

If you do not fully understand your revenue drivers, you cannot achieve the highest success.

Accepted Answer

A) True 
 B)False

Question 17

Describe business model available to digital businesses which may be impractical for a traditional "brick and mortar" businesses.

Accepted Answer

The answer of Describe business model available to digital businesses...

Question 18

What are some of the trade-offs of the first mover's advantage?

Accepted Answer

The answer of What are some of the trade-offs of...

Question 19

Developments in technology have spurred companies to expand to other countries increasingly early in their business lives.

Accepted Answer

A) True 
 B)False

Question 20

Entrepreneurs benefit from developing and following a coherent geographic expansion strategy

Accepted Answer

A) True 
 B)False

Exam 4: Understanding Your Business Model and Developing Your Strategy

Going global increases risk and requires capital.

Of the following differentiators, which most commonly determines the success of a company?

Under the Foreign Direct Investment strategy, the startup retains control of the assets and facilities, which results in a cheap and easy means to go global.

A strategy that attempts to capture the first-mover's advantage is usually the most inexpensive.

Learning from others is less efficient than learning from one's own mistakes.

According to Dickson, there are how many types of global, entrepreneurial firms?

Mergers and acquisitions are likely to increase a company's survival rate when used as a means for growth.

Explain why every startup that plans to grow must benchmark its competitors, devise an initial market test, and create a platform for its business.

Which of the following influence a company's revenue?

COGS is a cost measure that applies to companies that manufacture tangible products; COGS cannot be computed for firms that deal exclusively in a service-based revenue model.

What risks does the company take when expanding its product mix?

By merging different revenue sources into as few categories as possible, you make your business model more comprehensive.

Exporting is one of the most expensive ways to enter new markets.

How many beta-tests of the product should the company do before releasing it to the market?

It is a good idea for a startup to hire employees who are:

If you do not fully understand your revenue drivers, you cannot achieve the highest success.

Describe business model available to digital businesses which may be impractical for a traditional "brick and mortar" businesses.

What are some of the trade-offs of the first mover's advantage?

Developments in technology have spurred companies to expand to other countries increasingly early in their business lives.

Entrepreneurs benefit from developing and following a coherent geographic expansion strategy