Question 1

The process of envisioning the future for a business,including what one plans to do and how one plans to do it,is called ______.

Accepted Answer

A) white boarding 
B) planning 
C) brainstorming 
D) surveying 
A) white boarding 
B) planning 
C) brainstorming 
D) surveying B

Question 2

A document that can easily be sent to stakeholders that will give them an at-a-glance understanding of who you are,the business,and its potential,is called the ______.

Accepted Answer

A) business brief 
B) pitch deck 
C) Business Model Canvas 
D) business plan 
A) business brief 
B) pitch deck 
C) Business Model Canvas 
D) business plan A

Question 3

A Vivid Vision should always be presented as a written document rather than a gallery sketch,photo montage,or video.

Accepted Answer

A) True 
 B)False  False

Question 4

Which of the following would be included in the business concept part of the business plan?

Accepted Answer

A) the industry,business structure,and products and services 
B) a description of potential customers and the implementation plan 
C) the overall implementation plan 
D) the operations and management 
A) the industry,business structure,and products and services 
B) a description of potential customers and the implementation plan 
C) the overall implementation plan 
D) the operations and management

Question 5

What distinguishes a business plan from other forms of business planning?

Accepted Answer

A) The business plan is for internal use only. 
B) The business plan is less detailed than the pitch deck. 
C) The business plan is more formal. 
D) The business plan does not include a financial forecast. 
A) The business plan is for internal use only. 
B) The business plan is less detailed than the pitch deck. 
C) The business plan is more formal. 
D) The business plan does not include a financial forecast.

Question 6

"Launch plan" is another term to describe a ______.

Accepted Answer

A) Business Model Canvas 
B) business brief 
C) feasibility study 
D) pitch deck 
A) Business Model Canvas 
B) business brief 
C) feasibility study 
D) pitch deck

Question 7

According to the text,you are not ready to decide whether a business idea is viable until you have talked to at least 50 potential customers.

Accepted Answer

A) True 
 B)False

Question 8

Describe Cameron Herold's Vivid Vision process.Why is the focus on three years down the road? What are the crucial aspects of the process? What is innovative or groundbreaking about the process,and why? What part of the process will be most challenging,in your evaluation,and why?

Accepted Answer

Herold's process challenges entrepreneur

Question 9

Why might an entrepreneur write a simple business plan only for themselves?

Accepted Answer

A) It's a good way to thinking about things they may not have thought about before. 
B) A full plan is useless. 
C) It saves time. 
D) They may be unfamiliar with other plan types. 
A) It's a good way to thinking about things they may not have thought about before. 
B) A full plan is useless. 
C) It saves time. 
D) They may be unfamiliar with other plan types.

Question 10

At its heart,the ______ is the document that records answers to questions.

Accepted Answer

A) feasibility study 
B) business brief 
C) plan 
D) pitch deck 
A) feasibility study 
B) business brief 
C) plan 
D) pitch deck

Question 11

Key partners,key activities,and key resources are three of the nine blocks in the Business Model Canvas.

Accepted Answer

A) True 
 B)False

Question 12

Most feasibility studies are three pages or fewer.

Accepted Answer

A) True 
 B)False

Question 13

It can take up to ______ hours to write a comprehensive business plan.

Accepted Answer

A) 4 
B) 20 
C) 200 
D) 400 
A) 4 
B) 20 
C) 200 
D) 400

Question 14

Describe a concept statement.What questions is it designed to answer? What is its value to the entrepreneur? What is its value to potential investors?

Accepted Answer

A concept statement is a written represe

Question 15

What is the ultimate question a feasibility study is trying to answer?

Accepted Answer

A) Will my venture work? 
B) What kind of team do I need to get started? 
C) How much should I charge? 
D) How much startup capital do I need? 
A) Will my venture work? 
B) What kind of team do I need to get started? 
C) How much should I charge? 
D) How much startup capital do I need?

Question 16

Most businesses do not need a plan to get started.

Accepted Answer

A) True 
 B)False

Question 17

Which of the following is true of pitch decks?

Accepted Answer

A) They are highly detailed. 
B) They have no strict rules for length or style. 
C) They are complicated. 
D) They are time-consuming to create. 
A) They are highly detailed. 
B) They have no strict rules for length or style. 
C) They are complicated. 
D) They are time-consuming to create.

Question 18

To produce a feasibility study,what action is needed?

Accepted Answer

A) documenting important parts of your business 
B) testing,information gathering,and analysis 
C) creating a well-defined financial forecast 
D) meeting with the founders who will agree on the plan of action 
A) documenting important parts of your business 
B) testing,information gathering,and analysis 
C) creating a well-defined financial forecast 
D) meeting with the founders who will agree on the plan of action

Question 19

The ______ has replaced the formal business plan in most venues.

Accepted Answer

A) pitch deck 
B) Business Model Canvas 
C) feasibility study 
D) business brief 
A) pitch deck 
B) Business Model Canvas 
C) feasibility study 
D) business brief

Question 20

What planning tool helps entrepreneurs test the possibilities of an initial idea to see if it is worth pursuing?

Accepted Answer

A) the business brief 
B) Vivid Vision 
C) the feasibility study 
D) the market research study 
A) the business brief 
B) Vivid Vision 
C) the feasibility study 
D) the market research study

The process of envisioning the future for a business,including what one plans to do and how one plans to do it,is called ______.

A document that can easily be sent to stakeholders that will give them an at-a-glance understanding of who you are,the business,and its potential,is called the ______.

A Vivid Vision should always be presented as a written document rather than a gallery sketch,photo montage,or video.

Which of the following would be included in the business concept part of the business plan?

What distinguishes a business plan from other forms of business planning?

"Launch plan" is another term to describe a ______.

According to the text,you are not ready to decide whether a business idea is viable until you have talked to at least 50 potential customers.

Describe Cameron Herold's Vivid Vision process.Why is the focus on three years down the road? What are the crucial aspects of the process? What is innovative or groundbreaking about the process,and why? What part of the process will be most challenging,in your evaluation,and why?

Why might an entrepreneur write a simple business plan only for themselves?

At its heart,the ______ is the document that records answers to questions.

Key partners,key activities,and key resources are three of the nine blocks in the Business Model Canvas.

Most feasibility studies are three pages or fewer.

It can take up to ______ hours to write a comprehensive business plan.

Describe a concept statement.What questions is it designed to answer? What is its value to the entrepreneur? What is its value to potential investors?

What is the ultimate question a feasibility study is trying to answer?

Most businesses do not need a plan to get started.

Which of the following is true of pitch decks?

To produce a feasibility study,what action is needed?

The ______ has replaced the formal business plan in most venues.

What planning tool helps entrepreneurs test the possibilities of an initial idea to see if it is worth pursuing?

Practicing Entrepreneurship

Activating an Entrepreneurial Mindset

Creating and Recognizing New Opportunities

Using Design Thinking

Building Business Models

Developing Your Customers

Testing and Experimenting With New Ideas

Developing Networks and Building Teams

Creating Revenue Models

Anticipating Failure

Bootstrapping and Crowdfunding for Resources

Financing for Startups

Navigating Legal and Ip Issues

Engaging Customers Through Marketing

Supporting Social Entrepreneurship

Financial Statements and Projections for Startups

The Pitch Deck

Filters

Exam 10: Planning for Entrepreneurs

The process of envisioning the future for a business,including what one plans to do and how one plans to do it,is called ______.

A document that can easily be sent to stakeholders that will give them an at-a-glance understanding of who you are,the business,and its potential,is called the ______.

A Vivid Vision should always be presented as a written document rather than a gallery sketch,photo montage,or video.

Which of the following would be included in the business concept part of the business plan?

What distinguishes a business plan from other forms of business planning?

"Launch plan" is another term to describe a ______.

According to the text,you are not ready to decide whether a business idea is viable until you have talked to at least 50 potential customers.

Describe Cameron Herold's Vivid Vision process.Why is the focus on three years down the road? What are the crucial aspects of the process? What is innovative or groundbreaking about the process,and why? What part of the process will be most challenging,in your evaluation,and why?

Why might an entrepreneur write a simple business plan only for themselves?

At its heart,the ______ is the document that records answers to questions.

Key partners,key activities,and key resources are three of the nine blocks in the Business Model Canvas.

Most feasibility studies are three pages or fewer.

It can take up to ______ hours to write a comprehensive business plan.

Describe a concept statement.What questions is it designed to answer? What is its value to the entrepreneur? What is its value to potential investors?

What is the ultimate question a feasibility study is trying to answer?

Most businesses do not need a plan to get started.

Which of the following is true of pitch decks?

To produce a feasibility study,what action is needed?

The ______ has replaced the formal business plan in most venues.

What planning tool helps entrepreneurs test the possibilities of an initial idea to see if it is worth pursuing?

Practicing Entrepreneurship

Activating an Entrepreneurial Mindset

Creating and Recognizing New Opportunities

Using Design Thinking

Building Business Models

Developing Your Customers

Testing and Experimenting With New Ideas

Developing Networks and Building Teams

Creating Revenue Models

Anticipating Failure

Bootstrapping and Crowdfunding for Resources

Financing for Startups

Navigating Legal and Ip Issues

Engaging Customers Through Marketing

Supporting Social Entrepreneurship

Financial Statements and Projections for Startups

The Pitch Deck

Filters