plz answer all multiple choice questions with reason y u slelected that option.o
ID: 329539 • Letter: P
Question
plz answer all multiple choice questions with reason y u slelected that option.one line reason is enough.
Which of the following is not one of the four steps of the entrepreneurial process?
deciding to become an entrepreneur
determining how to seize the spotlight
developing successful business ideas
moving from an idea to an entrepreneurial firm
managing and growing the entrepreneurial firm
Opportunities are:
tough to spot
easy to spot in the service sector but tough to spot in the manufacturing sector
easy to spot in the manufacturing sector but tough to spot in the service sector
easy to spot
neither easy nor tough to spot
A(n) ________ is a thought, impression, or notion. A(n) ________ is a favorable set of circumstances that creates the need for a new product, service, or business.
scheme, notion
opportunity, idea
idea, design
idea, opportunity
notion, scheme
Which of the following is not an example of a social force?
changes in interest rates
increased interest in healthy foods
retirement of baby boomers
increased diversity of the workforce
increased interest in green products
The process of perceiving the possibility of a profitable new business, product or service idea is referred to as:
inspired detection
creative recognition
idea confirmation
opportunity recognition
inspired discovery
A network entrepreneur is an individual who identifies his or her business idea:
on their own
through the assistance of a paid consultant
through social contacts
with one or more partners
through a business incubator program
________ is the process of generating a novel or useful idea.
Innovation
Imagining
Creativity
Visualization
Envisioning
Which of the following is not one of the rules for a formal brainstorming session?
no criticism is allowed
the session moves quickly
freewheeling is encouraged
leapfrogging is encouraged
the session is used for decision making
Primary research is:
original research and is collected by the entrepreneur
research that is already collected and is available online
research that is stored in an official government depository
research that is collected by an impartial third party
research that is collected by an industry trade association
A ________ involves showing a preliminary description of a product or service idea to prospective customers to gauge customer interest, desirability, and purchase intent.
concept test
product/service statement
impression test
idea prospectus
idea test
A(n) ________ is a group of firms producing a similar product or service. A firm's ________ is the limited portion of the industry that it goes after or to which it wants to appeal.
target market, industry
trade group, industry
industry, trade group
competitive group, target market
industry, target market
________ feasibility analysis is an assessment of the overall appeal of the industry and market for the product or service being proposed.
Institutional
Financial
Organizational
Product/service
Industry/target market
A(n) ________ is the group of founders, key employees, and advisers that either manage or help manage a new business in its start-up years.
opening team
entrepreneurial team
scout team
launch team
new venture team
The most important issues to consider in financial feasibility analysis are: financial performance of similar businesses, overall financial attractiveness of the proposed venture, and:
identification of a niche market
market timeliness
management prowess
total start-up cash needed
concept testing
The document that does the best job of introducing potential investors and other stakeholders with the business opportunity the firm is pursuing and how it plans to pursue it is the:
business plan
feasibility analysis
opportunity analysis
industry analysis
marketing plan
Most business plan writers interpret or make sense of a firm's historical and/or pro form financial statements through:
ratio analysis
assumptions analysis
scenario analysis
proportion analysis
relative analysis
In the first meeting investors typically focus on whether the management team has the skills and experience to pull off the venture and:
whether the new venture is properly structured
whether the new venture has intellectual property
legal and tax issues
whether a real opportunity exists
industry and competitor analysis
If a start-up pioneers an industry or a new concept within an industry, the name recognition the start-up establishes may create a formidable nontraditional barrier to entry referred to as a:
unique business model
aggressive supremacy
competitive superiority
first-mover advantage
aggressive tactical advantage
A ________ industry is an industry that is experiencing significant international sales.
global
mature
fragmented
declining
emerging
The three different types of competitors a business will face are direct competitors, indirect competitors, and:
future competitors
nonstop competitors
occasional competitors
fragmented competitors
irregular competitors
A ________ is a firm's plan or diagram for how it competes, uses its resources, structures its relationships, interfaces with customers, and creates value to sustain itself on the basis of the profits it earns.
feasibility model
business model
strategic plan
business plan
competitive model
Which of the following is not one of the components of a firm's business model?
core strategy
strategic resources
partnership network
business plan
customer interface
A ________ is a resource or capability that serves as a source of a firm's competitive advantage over its rivals.
foundational competency
core competency
distinctive attribute
center attribute
core element
The single most important thing the founders of an entrepreneurial venture can do is:
start a board of advisors
establish business partnerships
make money
select a limited liability corporate opposed to an S-corporation
establish a strong ethical culture for their firms
A ________ details the responsibilities and the ownership shares of the partners involved with an organization.
partnership agreement
industry contract
business pledge
business agreement
partnership pledge
Large firms like 3M, Google, Oracle, and Microsoft, that trade on organized stock exchanges, are:
limited partnerships
limited liability companies
subchapter S corporations
C corporations
general partnerships
Which of the following was not identified as one of the four main financial objectives of a firm?
stability
efficiency
timeliness
liquidity
profitability
A firm's ________ reflects the results of its operations over a specified period and shows whether it is making a profit or is experiencing a loss.
statement of cash flows
income statement
forecast
balance sheet
operating budget
A firm's working capital is its:
inventory and accounts receivable minus its current liabilities
current assets minus its current liabilities
total assets minus its total liabilities
cash and cash equivalents minus its current liabilities
accounts receivable minus its total accounts payable
A firm's pro forma financial statements are similar to its historical financial statements except that:
they do not include the income statement
they are required by the SEC in all cases
they look back rather than forward
they look forward rather than back
they do not include the statement of cash flows
The process of building and maintaining relationships with people whose interests are similar or whose relationship could bring advantages to the firm is called:
linking
socializing
networking
associating
connecting
Which of the following qualities is not considered as a preferred attribute of the founder or founders of a firm?
prior entrepreneurial experience
firm started by a team
relevant industry experience
prior experience working in a government or university position
higher education
Which of the following is not considered as an attribute of an effective board member?
strong personal and professional networks
unknown in their field
investment and/or operating experience
ability and willingness to mentor the CEO and the top managers of the firm
pattern recognition skills
Which of the following is not considered as a way that lenders and investors add value to a new venture, beyond providing money?
help the firm fine-tune its business model
serve on the firm's board of directors or board of advisors
recruit customers
help identify and recruit key management personnel
help manage the day-to-day activities of the firm
Kimberly Jones is the founder of a company in the medical equipment industry. Kimberly's firm is still in the feasibility analysis stage, and doesn't have a product that is ready to sell. The company is spending about $25,000 per month, and expects to maintain that level of spending until it reaches profitability. The $25,000 a month is Kimberly's:
consumption rate
utilization rate
burn rate
usage rate
liquidity rate
The seed money that gets a company off the ground typically comes from:
angel investors
venture capitalists
commercial banks
governmental agencies
the founders of the firm
Equity financing (or funding) means:
exchanging partial ownership in a firm, usually in the form of stock, for funding
getting a grant or outright gift
getting a loan
getting a lease
getting a loan guarantee
________ are limited partnerships of money managers who raise money in "funds" to invest in start-ups and growing firms.
Venture capital firms
Business angels
Institutional investors
Investment bankers
Business capitalists
Debt financing involves:
raising venture capital or securing a private placement
selling corporate bonds or selling stock via an IPO
getting a grant or selling corporate bonds
getting a loan or raising venture capital
getting a loan or selling corporate bonds
Andy Sanders owns a sporting goods store that appeals to hunters and fishermen. The market that Andy is trying to appeal to is called his:
focal market
objective market
target market
critical market
intention market
Nike's familiar phrase "Just do it" is an example of a:
attention-line
tagline
notice-line
catchline
grabline
Which of the following statements is incorrect regarding the process of building a company's brand?
A firm's name, logo, Web site design, and even its letterhead are part of its brand.
One of the keys to effective branding is to create a strong personality for a firm.
Some companies monitor the integrity of their brands through brand management.
Startups must build a brand from scratch, which starts with selecting the company's name.
Most experts recommend a heavy reliance on advertising in building a firm's brand.
Which of the following is an example of intellectual property?
Microsoft's headquarters in Redmond, Washington
Nike's swoosh logo
the computer that you use
AirTran's fleet of planes
the trucks that deliver White Wave soymilk to grocery stores
Which of the following are the four key forms of intellectual property protection?
patents, copyrights, trademarks, and trade secrets
discoveries, convents, trademarks, patents
patents, official documents, copyrights, inventions
discoveries, Internet domain names, innovations, trademarks
convents, inventions, opportunities, and copyrights
Explanation / Answer
1 B determining how to seize the spotlight.
The fours steps are
Determining how to seize the spotlight is a political gimmick. This is not a entrepreneurial process
Tough to spot
Opportunities are tough to spot. If it was easy then the success rate of the companies will be very high and risks will become down. The opportunities identification is a complicated process.
Idea, opportunity
Ideas are a thought, impression, or notion as to a possible course of action. Opportunities are favorable set of circumstances. If the company is able to fill that opportunity then the success rate of companies will be very high.
Changes in interest rates
Interest rate is determined by Federal Open Market Committee. This is not a social force.
As per Chegg guidelines Experts can answer 4 questions in one go. I would request you to ask the rest questions separately.
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