Question 1

Which of the following would be considered in a feasibility study?

Accepted Answer

A) financial projections 
B) the size of the market 
C) the founding team 
D) the three year plan 
A) financial projections 
B) the size of the market 
C) the founding team 
D) the three year plan

Question 2

Imagine that you want to engage in a planning experience with your team members and early investors.Select a planning tool and explain why that tool would be appropriate.

Accepted Answer

Feasibility studies assess the potential

Question 3

Of the following, what is the best time to write a business plan?

Accepted Answer

A) When you have the data to prove your concept. 
B) When you have the founder team. 
C) When you have adequate time. 
D) At any time in the formation of the business. 
A) When you have the data to prove your concept. 
B) When you have the founder team. 
C) When you have adequate time. 
D) At any time in the formation of the business.

Question 4

Why do some argue that a business plan is not worth the effort?

Accepted Answer

A) The plan is based on untested assumptions. 
B) It takes too long. 
C) It requires specialized skills that entrepreneurs may not have. 
D) It is redundant after all the other plans. 
A) The plan is based on untested assumptions. 
B) It takes too long. 
C) It requires specialized skills that entrepreneurs may not have. 
D) It is redundant after all the other plans.

Question 5

Nan presents her plan for a slip-on shoe that is water repellent, inexpensive, and highly fashionable.She believes that the market for the product is "everyone in the city of Seattle." Because of this, she forecasts that she will capture 40% of the market.What is the business plan error that Nan is incurring?

Accepted Answer

A) too much fluff in the presentation 
B) not including the market risks 
C) the exaggerated hockey stick 
D) There is no error.This is a reasonable estimate. 
A) too much fluff in the presentation 
B) not including the market risks 
C) the exaggerated hockey stick 
D) There is no error.This is a reasonable estimate.

Question 6

Take an existing company and describe it in terms of a back-of-a-napkin plan.

Accepted Answer

Answers will vary based on selected comp

Question 7

What is included in the Company Overview section of the business plan?

Accepted Answer

A) target market strategy 
B) industry analysis 
C) competitive advantage 
D) marketplace analysis 
A) target market strategy 
B) industry analysis 
C) competitive advantage 
D) marketplace analysis

Question 8

Which of the following should be included in the business plan?

Accepted Answer

A) the answer to critical questions such as the availability of resources 
B) the company vision 
C) timelines for important goals 
D) all of these 
A) the answer to critical questions such as the availability of resources 
B) the company vision 
C) timelines for important goals 
D) all of these

Question 9

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

Accepted Answer

A) Nothing, they are all business plans. 
B) It is a bit shorter than the pitch deck. 
C) It is a more formal document. 
D) It does not include a financial forecast. 
A) Nothing, they are all business plans. 
B) It is a bit shorter than the pitch deck. 
C) It is a more formal document. 
D) It does not include a financial forecast.

Question 10

What competitive information did Bark 'N Leash gain from talking with family and friends?

Accepted Answer

A) unhappy or neutral customers of walking services did not have time to find a new service 
B) most customers were happy with their dog-walking service 
C) most service providers offered prompt and regular service 
D) there were many alternatives for service in the target market area 
A) unhappy or neutral customers of walking services did not have time to find a new service 
B) most customers were happy with their dog-walking service 
C) most service providers offered prompt and regular service 
D) there were many alternatives for service in the target market area

Question 11

What is done through the Vivid Vision exercise?

Accepted Answer

A) The entrepreneur tries to imagine what the business will look like 3 years into the future. 
B) The entrepreneur's plan is set to a colored image. 
C) The entrepreneur's plan is formalized. 
D) The entrepreneur tries to imagine what the business will look like in 10 years. 
A) The entrepreneur tries to imagine what the business will look like 3 years into the future. 
B) The entrepreneur's plan is set to a colored image. 
C) The entrepreneur's plan is formalized. 
D) The entrepreneur tries to imagine what the business will look like in 10 years.

Question 12

What is included in the Executive Summary section of the business plan?

Accepted Answer

A) the offering; what you expect from the audience 
B) a brief summary of the entire business plan 
C) the product and market description only 
D) a company overview 
A) the offering; what you expect from the audience 
B) a brief summary of the entire business plan 
C) the product and market description only 
D) a company overview

Question 13

How did Bark 'N Leash determine how often her competitors were used?

Accepted Answer

A) by talking with the owners of competitive stores 
B) by observing the frequency of activity on Facebook and Instagram 
C) by observing customers going in and out of the stores 
D) by checking with the local Chamber of Commerce 
A) by talking with the owners of competitive stores 
B) by observing the frequency of activity on Facebook and Instagram 
C) by observing customers going in and out of the stores 
D) by checking with the local Chamber of Commerce

Question 14

Which of the following is the main purpose of the feasibility study?

Accepted Answer

A) to establish a base for further planning 
B) to help investors know whether or not to fund the company 
C) to help the entrepreneur reach a "go" or "no-go" decision 
D) to solidify the image and purpose of the business 
A) to establish a base for further planning 
B) to help investors know whether or not to fund the company 
C) to help the entrepreneur reach a "go" or "no-go" decision 
D) to solidify the image and purpose of the business

Question 15

Who is the primary audience of a business model canvas?

Accepted Answer

A) friends and family 
B) team members and advisors 
C) investors 
D) banks and early funders 
A) friends and family 
B) team members and advisors 
C) investors 
D) banks and early funders

Question 16

Why are back-of-the-napkin plans effective?

Accepted Answer

A) They are inexpensive. 
B) They help clarify and communicate ideas. 
C) They are associated with socialization. 
D) They are flexible. 
A) They are inexpensive. 
B) They help clarify and communicate ideas. 
C) They are associated with socialization. 
D) They are flexible.

Question 17

According to IdeaLab, how important were business plans in the success of the company?

Accepted Answer

A) Those who had good business plans tended to have more successful businesses. 
B) They were more important than timing. 
C) They were ranked as the least important of the five success factors. 
D) They were the second in the importance rank of the five success factors. 
A) Those who had good business plans tended to have more successful businesses. 
B) They were more important than timing. 
C) They were ranked as the least important of the five success factors. 
D) They were the second in the importance rank of the five success factors.

Question 18

Most decisions are not definitively ethical or unethical but land in "gray areas" that lie between these binaries.

Accepted Answer

A) True 
 B)False

Question 19

What is important in a plan to support ethical practices?

Accepted Answer

A) a nondisclosure agreement 
B) the company's plan to define, reward, and provide training in ethical behavior 
C) a statement of ethical practice in the mission statement 
D) none, since ethics cannot be something you plan for 
A) a nondisclosure agreement 
B) the company's plan to define, reward, and provide training in ethical behavior 
C) a statement of ethical practice in the mission statement 
D) none, since ethics cannot be something you plan for

Question 20

Which of the following are part of the nine components of the business model?

Accepted Answer

A) value proposition 
B) financial forecast 
C) customer profiles 
D) website specifications 
A) value proposition 
B) financial forecast 
C) customer profiles 
D) website specifications

Which of the following would be considered in a feasibility study?

Imagine that you want to engage in a planning experience with your team members and early investors.Select a planning tool and explain why that tool would be appropriate.

Of the following, what is the best time to write a business plan?

Why do some argue that a business plan is not worth the effort?

Take an existing company and describe it in terms of a back-of-a-napkin plan.

What is included in the Company Overview section of the business plan?

Which of the following should be included in the business plan?

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

What competitive information did Bark 'N Leash gain from talking with family and friends?

What is done through the Vivid Vision exercise?

What is included in the Executive Summary section of the business plan?

How did Bark 'N Leash determine how often her competitors were used?

Which of the following is the main purpose of the feasibility study?

Who is the primary audience of a business model canvas?

Why are back-of-the-napkin plans effective?

According to IdeaLab, how important were business plans in the success of the company?

Most decisions are not definitively ethical or unethical but land in "gray areas" that lie between these binaries.

What is important in a plan to support ethical practices?

Which of the following are part of the nine components of the business model?

Entrepreneurship: a Global Social Movement

Practicing Entrepreneurship

Developing an Entrepreneurial Mindset

Supporting Social Entrepreneurship

Generating New Ideas

Using Design Thinking

Testing and Experimenting in Markets

Building Business Models

Creating Revenue Models

Learning From Failure

Bootstrapping for Resources

Financing for Startups

Developing Networks

Navigating Legal and Ip Issues

Marketing and Pitching Your Idea

Financial Statements and Projections for Startups

the Pitch Deck

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Exam 9: Planning for Entrepreneurs

Which of the following would be considered in a feasibility study?

Imagine that you want to engage in a planning experience with your team members and early investors.Select a planning tool and explain why that tool would be appropriate.

Of the following, what is the best time to write a business plan?

Why do some argue that a business plan is not worth the effort?

Take an existing company and describe it in terms of a back-of-a-napkin plan.

What is included in the Company Overview section of the business plan?

Which of the following should be included in the business plan?

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

What competitive information did Bark 'N Leash gain from talking with family and friends?

What is done through the Vivid Vision exercise?

What is included in the Executive Summary section of the business plan?

How did Bark 'N Leash determine how often her competitors were used?

Which of the following is the main purpose of the feasibility study?

Who is the primary audience of a business model canvas?

Why are back-of-the-napkin plans effective?

According to IdeaLab, how important were business plans in the success of the company?

Most decisions are not definitively ethical or unethical but land in "gray areas" that lie between these binaries.

What is important in a plan to support ethical practices?

Which of the following are part of the nine components of the business model?

Entrepreneurship: a Global Social Movement

Practicing Entrepreneurship

Developing an Entrepreneurial Mindset

Supporting Social Entrepreneurship

Generating New Ideas

Using Design Thinking

Testing and Experimenting in Markets

Building Business Models

Creating Revenue Models

Learning From Failure

Bootstrapping for Resources

Financing for Startups

Developing Networks

Navigating Legal and Ip Issues

Marketing and Pitching Your Idea

Financial Statements and Projections for Startups

the Pitch Deck

Filters