Exam 6: Assessment of Entrepreneurial Opportunities

A checklist approach allows the entrepreneur to identify _____ factors of a new venture.

Which of the following is a critical consideration when assessing customer availability?

When a customer sees a product that is superior to its competitors, _____ becomes less important.

Design is now a hot topic in the business world.

Lack of transparency and trust by the entrepreneur is a common cause of new-venture failure.

During the prestart-up and start-up phases, _____ factors are critical.

Which of the following is not an entrepreneurial motivation for starting a venture?

Under design-centered entrepreneurship, moving from one particular action stage back to a previous stage for further development is a _____ methodology.

"There is no replacement for passion," is a statement associated with which of the following?

A product does not have to be patented in order to be introduced into the marketplace.

Pricing becomes less of a concern when customers know about a product's unique characteristics that are superior to the competition.

A(n) _____ approach to problem-solving includes soliciting feedback from the target audience early and often and is encouraged under design thinking.

Problems associated with the managerial team include

List and describe three pitfalls in selecting a new venture.

A common human resource problem is

Which of the following is a factor contributing to new-venture failure?

Surprisingly, growth of sales is generally not considered a critical factor in assessing new ventures.

Obtaining external financing is one of the major types of problems for a new venture during its first year.

Flexibility, reliability, and safety are all examples of

Define and describe Lean Start-Up methodology.