Question 1

Generally speaking, what is the minimum annual growth rate needed for interest from venture capitalists?

Accepted Answer

A)   15%
B)   25%
C)   30%
D)   50%
E)   75% B

Question 2

What is a factors make up a viable opportunity?

Accepted Answer

A viable opportunity contains a favourable set of circumstances that are attractive (financially), durable (long-lasting), timely (the market is ready for it).

Question 3

According to the text, who is the market leader for Canadian technology trends and news?

Accepted Answer

A)   TechCrunch
B)   SBA Canada
C)   ESAC
D)   CanSIA
E)   ITbusiness A

Question 4

One of the best ways to look for new venture ideas is to think up a solution first before looking
or a problem you want to solve.

Accepted Answer

A) True 
 B)False

Question 5

A viable opportunity contains a favourable set of circumstances that are attractive (financially), 
durable (long-lasting), timely (the market is ready for it), and creates and/or adds value for the end-user.

Accepted Answer

A) True 
 B)False

Question 6

Double dipping is the ability to generate multiple revenue streams from one product.

Accepted Answer

A) True 
 B)False

Question 7

Scalability refers to a company's ability to generate exponential revenue growth while 
maintaining a stagnant fixed and variable cost.

Accepted Answer

A) True 
 B)False

Question 8

A company's attention should focus equally on primary, secondary and tertiary customers.

Accepted Answer

A) True 
 B)False

Question 9

How does the Canadian Government support the process of enterprise creation?

Accepted Answer

The answer of How does the Canadian Government support the...

Question 10

What is the concept of double dipping?

Accepted Answer

A)   Having another income source while starting a new venture
B)   Generating multiple revenue streams from one product
C)   Launching two products simultaneously
D)   Partnering with another company to launch a product
E)   None of the above

Question 11

The millennial generation's prolific use of the Internet coupled with a sense of digital mastery 
will be the driving force for social transformation

Accepted Answer

A) True 
 B)False

Question 12

If an entrepreneur is going to fail, they should do so quickly.

Accepted Answer

A) True 
 B)False

Question 13

According to studies, Millennials are how much more likely to use smartphones to go online?

Accepted Answer

A)   20%
B)   42%
C)   15%
D)   18%
E)   37%

Question 14

How is TAM calculated?

Accepted Answer

A)   Size of the customer pain point multiplied by the number of customers
B)   Size of customer pain point multiplied by profit margin
C)   Number of customers multiplied by number of products available
D)   Profit margin multiplied by number of products available
E)   None of the above

Question 15

Who are the millennial generation and what is the important difference between them and baby boomer generation?

Accepted Answer

The answer of Who are the millennial generation and what...

Question 16

Another beneficial tool to cross-reference your idea opportunity is the step-by-step stage-gate 
process.

Accepted Answer

A) True 
 B)False

Question 17

How does the Canadian Government support entrepreneurship?

Accepted Answer

A)   Offering a bank exclusively for entrepreneurs
B)   Offering a number of programs to help entrepreneurs with financing options
C)   Lower tax rates for incorporated companies and sole proprietorships
D)   All of the above
E)   None of the above

Question 18

What is the approximate number of baby boomers in Canada?

Accepted Answer

A)   1.7 million
B)   3.0 million
C)   4.9 million
D)   8.5 million
E)   9.6 million

Question 19

To replace $70,000 of forgone salary and benefits, an entrepreneur will need the new venture to generate approximately how much in annual revenue?

Accepted Answer

A)   $70,000
B)   $200,000
C)   $400,000
D)   $600,000
E)   $800,000

Question 20

With the mass use of the Internet, the world is no longer a level playing field.

Accepted Answer

A) True 
 B)False

Exam 3: Opportunity Recognition, Shaping, and Reshaping

Generally speaking, what is the minimum annual growth rate needed for interest from venture capitalists?

What is a factors make up a viable opportunity?

According to the text, who is the market leader for Canadian technology trends and news?

One of the best ways to look for new venture ideas is to think up a solution first before looking or a problem you want to solve.

A viable opportunity contains a favourable set of circumstances that are attractive (financially), durable (long-lasting), timely (the market is ready for it), and creates and/or adds value for the end-user.

Double dipping is the ability to generate multiple revenue streams from one product.

Scalability refers to a company's ability to generate exponential revenue growth while maintaining a stagnant fixed and variable cost.

A company's attention should focus equally on primary, secondary and tertiary customers.

How does the Canadian Government support the process of enterprise creation?

What is the concept of double dipping?

The millennial generation's prolific use of the Internet coupled with a sense of digital mastery will be the driving force for social transformation

If an entrepreneur is going to fail, they should do so quickly.

According to studies, Millennials are how much more likely to use smartphones to go online?

How is TAM calculated?

Who are the millennial generation and what is the important difference between them and baby boomer generation?

Another beneficial tool to cross-reference your idea opportunity is the step-by-step stage-gate process.

How does the Canadian Government support entrepreneurship?

What is the approximate number of baby boomers in Canada?

To replace $70,000 of forgone salary and benefits, an entrepreneur will need the new venture to generate approximately how much in annual revenue?

With the mass use of the Internet, the world is no longer a level playing field.