Question 1

Your business plan should be designed to be flexible, to allow for rapid adjustments as more information becomes available.

Accepted Answer

A) True 
 B)False

Question 2

To truly understand your customers, you MUST ___

Accepted Answer

A) tell them why they need your product. 
B) hire the best marketing research firm available. 
C) listen carefully and adapt based upon what they say. 
D) advertise in multiple media forms, like the Internet. 
E) All of the above 
A) tell them why they need your product. 
B) hire the best marketing research firm available. 
C) listen carefully and adapt based upon what they say. 
D) advertise in multiple media forms, like the Internet. 
E) All of the above

Question 3

Considerations to include in your Financing plan should include

Accepted Answer

A) Options to slow the "burn rate" if needed. 
B) Financing requirements by phase of growth 
C) Milestones to be met between rounds of financing 
D) None of the above 
E) All of the above. 
A) Options to slow the "burn rate" if needed. 
B) Financing requirements by phase of growth 
C) Milestones to be met between rounds of financing 
D) None of the above 
E) All of the above.

Question 4

Both positive and negative trends will help shape the businesses.

Accepted Answer

A) True 
 B)False

Question 5

What are the critical risks entrepreneurs need to identify in the business plan?

Accepted Answer

a)Market Interest and Growth P

Question 6

The business plan must establish that there is an opportunity worth exploiting and must detail how to take advantage of it.

Accepted Answer

A) True 
 B)False

Question 7

Strategic partners are required by law to be offered seats on your Board of Directors.

Accepted Answer

A) True 
 B)False

Question 8

What are the primary components of marketing plan section in a business plan? Describe them.

Accepted Answer

a)a description of the target market str

Question 9

How can entrepreneurs minimize risk?

Accepted Answer

A) Market research; 
B) Focus groups; 
C) Beta testing; 
D) All of the above; 
E) None of the above. 
A) Market research; 
B) Focus groups; 
C) Beta testing; 
D) All of the above; 
E) None of the above.

Question 10

What would be a counter-argument to the critique that business plans are obsolete soon after they are finished?

Accepted Answer

Business planning, as with any planning,

Question 11

Which of the following subsections is traditionally NOT placed in the executive summary?

Accepted Answer

A) Description of opportunity 
B) Industry overview 
C) Critical risks 
D) Competitive advantage 
E) Team and offering 
A) Description of opportunity 
B) Industry overview 
C) Critical risks 
D) Competitive advantage 
E) Team and offering

Question 12

Advantages of a price skimming are;

Accepted Answer

A) You can gauge what price the customer is willing to pay 
B) You'll gain increased market penetration 
C) It's easier to lower prices than to raise them 
D) A and B 
E) A and C 
A) You can gauge what price the customer is willing to pay 
B) You'll gain increased market penetration 
C) It's easier to lower prices than to raise them 
D) A and B 
E) A and C

Your business plan should be designed to be flexible, to allow for rapid adjustments as more information becomes available.

To truly understand your customers, you MUST ___

Considerations to include in your Financing plan should include

Both positive and negative trends will help shape the businesses.

What are the critical risks entrepreneurs need to identify in the business plan?

The business plan must establish that there is an opportunity worth exploiting and must detail how to take advantage of it.

Strategic partners are required by law to be offered seats on your Board of Directors.

What are the primary components of marketing plan section in a business plan? Describe them.

How can entrepreneurs minimize risk?

What would be a counter-argument to the critique that business plans are obsolete soon after they are finished?

Which of the following subsections is traditionally NOT placed in the executive summary?

Advantages of a price skimming are;

The Power of Entrepreneurship

The Entrepreneurial Process

Opportunity Recognition, Shaping, and Reshaping

Understanding Your Business Model and Developing Your Strategy

Entrepreneurial Marketing

Building the Founding Team

Building Your Pro Forma Financial Statements

Facing Entrepreneurial Ventures Worldwide

Raising Money for Starting and Growing Businesses

Debt and Other Forms of Financing

Legal and Tax Issues, Including Intellectual Property

Entrepreneurial Growth

Social Entrepreneurship: an Overview

Filters

Exam 7: The Business Planning Process

Your business plan should be designed to be flexible, to allow for rapid adjustments as more information becomes available.

To truly understand your customers, you MUST ___

Considerations to include in your Financing plan should include

Both positive and negative trends will help shape the businesses.

What are the critical risks entrepreneurs need to identify in the business plan?

The business plan must establish that there is an opportunity worth exploiting and must detail how to take advantage of it.

Strategic partners are required by law to be offered seats on your Board of Directors.

What are the primary components of marketing plan section in a business plan? Describe them.

How can entrepreneurs minimize risk?

What would be a counter-argument to the critique that business plans are obsolete soon after they are finished?

Which of the following subsections is traditionally NOT placed in the executive summary?

Advantages of a price skimming are;

The Power of Entrepreneurship

The Entrepreneurial Process

Opportunity Recognition, Shaping, and Reshaping

Understanding Your Business Model and Developing Your Strategy

Entrepreneurial Marketing

Building the Founding Team

Building Your Pro Forma Financial Statements

Facing Entrepreneurial Ventures Worldwide

Raising Money for Starting and Growing Businesses

Debt and Other Forms of Financing

Legal and Tax Issues, Including Intellectual Property

Entrepreneurial Growth

Social Entrepreneurship: an Overview

Filters