Question 1

What is an example of a relatively inelastic product?

Accepted Answer

A) Burgers 
B) Train tickets 
C) Gasoline 
D) DVD discs 
E) Notebooks 
A) Burgers 
B) Train tickets 
C) Gasoline 
D) DVD discs 
E) Notebooks

Question 2

Why can't companies raise prices after using penetration pricing strategy?

Accepted Answer

@#LAT-DLM&First, attractive ventures are often lau

Question 3

Customers can assist you to determine direct competitors, indirect competitors, and substitutes.

Accepted Answer

A) True 
 B)False

Question 4

Which of the following is an example of a perfect business?

Accepted Answer

A) Intel 
B) Wal-Mart 
C) Amazon.com 
D) McDonalds 
E) There is no such thing as a perfect business 
A) Intel 
B) Wal-Mart 
C) Amazon.com 
D) McDonalds 
E) There is no such thing as a perfect business

Question 5

It is important to lower your gross margins early in the venture's life

Accepted Answer

A) True 
 B)False

Question 6

Give a brief checklist of information that an entrepreneur should investigate.

Accepted Answer

@#LAT-DLM&Customer, Market Size, Trends,

Question 7

Which of the following is not a venture stage specifically enumerated in the chapter?

Accepted Answer

A) Investigation 
B) Launch 
C) Growth 
D) Operations 
E) All of the above are stages 
A) Investigation 
B) Launch 
C) Growth 
D) Operations 
E) All of the above are stages

Question 8

The key to success in comedy improvisation is to always say, "Yes, but…"

Accepted Answer

A) True 
 B)False

Question 9

An understanding of your STA helps you to:

Accepted Answer

A) Train your employees 
B) Find better management 
C) Develop a penetration strategy 
D) Make better growth decisions 
E) Build your value chain 
A) Train your employees 
B) Find better management 
C) Develop a penetration strategy 
D) Make better growth decisions 
E) Build your value chain

Question 10

When markets are emerging, which factor matters most long term?

Accepted Answer

A) Gross margins 
B) Number of new entrants annually 
C) Determining and securing the dominate customer value proposition 
D) Attracting a diverse pool of investors 
A) Gross margins 
B) Number of new entrants annually 
C) Determining and securing the dominate customer value proposition 
D) Attracting a diverse pool of investors

Question 11

Which of the following is not a part of IDEO's product design steps?

Accepted Answer

A) Optimize practicality 
B) Multiply stimuli 
C) Gather stimuli 
D) Create customer concepts 
E) Create stimuli 
A) Optimize practicality 
B) Multiply stimuli 
C) Gather stimuli 
D) Create customer concepts 
E) Create stimuli

Question 12

You will likely fail if you start a business in an area you have no experience in

Accepted Answer

A) True 
 B)False

Question 13

A company will make a better growth decision by identifying the most lucrative PTA.

Accepted Answer

A) True 
 B)False

Question 14

Most successful ideas are driven by the entrepreneur's personal experience.

Accepted Answer

A) True 
 B)False

Question 15

On what category of customers should a startup business focus most of its attention?

Accepted Answer

A) STA 
B) PTA 
C) TTA 
D) An even share of STA, PTA, and TTA 
E) None of the above 
A) STA 
B) PTA 
C) TTA 
D) An even share of STA, PTA, and TTA 
E) None of the above

Question 16

The weak link in Gourmet Stew's business model was?

Accepted Answer

A) Value proposition 
B) Customer segments 
C) Distribution channels 
D) Cost structure 
A) Value proposition 
B) Customer segments 
C) Distribution channels 
D) Cost structure

Question 17

Why is the statement, "My startup has no competition," always wrong? How can you find out about your competitors?

Accepted Answer

@#LAT-DLM&There is always competition, sometimes i

Question 18

The S-curve is a forecasting tool designed to measure the power of competition.

Accepted Answer

A) True 
 B)False

Question 19

According to the chapter, into what type of opportunity should a business idea translate?

Accepted Answer

A) Realistic 
B) Easy to implement 
C) Attractive 
D) Unique 
E) Technologically advanced 
A) Realistic 
B) Easy to implement 
C) Attractive 
D) Unique 
E) Technologically advanced

Question 20

What markets are characterized by "stealth" competition?

Accepted Answer

A) Growing 
B) Primitive 
C) Developed 
D) Speculative 
E) Emerging 
A) Growing 
B) Primitive 
C) Developed 
D) Speculative 
E) Emerging

What is an example of a relatively inelastic product?

Why can't companies raise prices after using penetration pricing strategy?

Customers can assist you to determine direct competitors, indirect competitors, and substitutes.

Which of the following is an example of a perfect business?

It is important to lower your gross margins early in the venture's life

Give a brief checklist of information that an entrepreneur should investigate.

Which of the following is not a venture stage specifically enumerated in the chapter?

The key to success in comedy improvisation is to always say, "Yes, but…"

An understanding of your STA helps you to:

When markets are emerging, which factor matters most long term?

Which of the following is not a part of IDEO's product design steps?

You will likely fail if you start a business in an area you have no experience in

A company will make a better growth decision by identifying the most lucrative PTA.

Most successful ideas are driven by the entrepreneur's personal experience.

On what category of customers should a startup business focus most of its attention?

The weak link in Gourmet Stew's business model was?

Why is the statement, "My startup has no competition," always wrong? How can you find out about your competitors?

The S-curve is a forecasting tool designed to measure the power of competition.

According to the chapter, into what type of opportunity should a business idea translate?

What markets are characterized by "stealth" competition?

The Power of Entrepreneurship

The Entrepreneurial Process

Understanding Your Business Model and Developing Your Strategy

Entrepreneurial Marketing

Building the Founding Team

The Business Planning Process

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 3: Opportunity Recognition, Shaping, and Reshaping

What is an example of a relatively inelastic product?

Why can't companies raise prices after using penetration pricing strategy?

Customers can assist you to determine direct competitors, indirect competitors, and substitutes.

Which of the following is an example of a perfect business?

It is important to lower your gross margins early in the venture's life

Give a brief checklist of information that an entrepreneur should investigate.

Which of the following is not a venture stage specifically enumerated in the chapter?

The key to success in comedy improvisation is to always say, "Yes, but…"

An understanding of your STA helps you to:

When markets are emerging, which factor matters most long term?

Which of the following is not a part of IDEO's product design steps?

You will likely fail if you start a business in an area you have no experience in

A company will make a better growth decision by identifying the most lucrative PTA.

Most successful ideas are driven by the entrepreneur's personal experience.

On what category of customers should a startup business focus most of its attention?

The weak link in Gourmet Stew's business model was?

Why is the statement, "My startup has no competition," always wrong? How can you find out about your competitors?

The S-curve is a forecasting tool designed to measure the power of competition.

According to the chapter, into what type of opportunity should a business idea translate?

What markets are characterized by "stealth" competition?

The Power of Entrepreneurship

The Entrepreneurial Process

Understanding Your Business Model and Developing Your Strategy

Entrepreneurial Marketing

Building the Founding Team

The Business Planning Process

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