ESB V2 Certification Questions With Correct Answers.
Quality
_______ is measured by how well the product or service successfully serves its users'
purpose.
E-commerce sales and door-to-door sales
What are two examples of direct distribution channels?
Middlemen
Indirect distribution channels use _______ to sell their products to the end customers.
Idea
The first stage of the product/market fit is the ________ stage.
prototype
The second stage of the product/market fit is the ________ stage.
launch
The third stage of the product/market fit is the ________ stage.
traction
The fourth stage of the product/market fit is the ________ stage.
monetization
The fifth stage of the product/market fit is the ________ stage.
growth
The sixth and final stage of the product/market fit is the ________ stage.
Set quality standards
The first step of creating a quality control process is to _____________.
Establish the method of testing product quality
The second step of creating a quality control process is to _____________.
Review the internal quality testing results
The third step of creating a quality control process is to _____________.
Refine and improve quality methods and measures as needed.
The fourth step of creating a quality control process is to _____________.
Employee
Sarah is a(n) ________ because she performs tasks while abiding by company policies
and receives a wage for her work.
Success
Sharon is in the ________ stage because she is earning more money, and the
company's finances are doing well. Because she is not yet preparing to finance future
growth, she is not yet in the take-off stage.
Trade secret
Knowing a process has been tested and works well is valuable to companies as they
can assume it would work just as successfully for their company. As a result, companies
may want to use __________ materials.
Business plan
A written document that details how a business will be structured, managed, run, and
grown.
Pitch deck
A brief overview of a business plan, the products and services that will be provided, the
funding needed, and financial projections.
, Lean canvas
Covers problems and solutions, value propositions, marketing channels, key metrics,
costs, and revenue without all of the business plan details.
Critical thinking
___________ involves solving problems in the best way by considering various
potential solutions to the problem.
Creativity and innovation
_________________ bring new and unconventional ideas to the table and finding
creative and new solutions to the way things are done.
Collaboration
______________ is working with others toward a common goal.
Problem solving
______________ is coming up with solutions to solve a problem.
Personal agency
_____________ is working towards achieving a goal without someone directing and
ensuring it is being done.
Ethical practices
______________ involve decision-making based on morals and doing the right thing.
Social responsibilities
_____________ involve preventing and removing any corruption and unethical behavior
that could harm a business, the community, or the environment.
They must obtain ownership of the patent
What must happen before one can use someone else's patent?
Newspaper marketing
With ________, it is easy to target a specific geographic location.
(cost * desired profit margin) + cost
What is the formula for selling price?
(Marketing expenses + Sales expenses)/ number of new customers in the period
What is the formula for calculating Customer Acquisition Cost (CAC)?
[(Ending number of customers in a period - new customers gained in a
period)/Starting number of customers in a period] * 100
What is the formula for calculating Customer Retention Rate (CRR)?
Equity
___________ is the owner's remaining value after all liabilities have been deducted.
Assets - Liabilities
What is the formula for calculating equity?
Liabilities + Equity
What is the formula for calculating assets?
Balance Sheet
A(n) _____________ shows what a company owns (both assets and liabilities.)
Income Statement
A(n) _____________ shows the total revenues and expenses for a specific period of
time.
total income - COGS - expenses
What is the formula for calculating net income?
income - COGS
Quality
_______ is measured by how well the product or service successfully serves its users'
purpose.
E-commerce sales and door-to-door sales
What are two examples of direct distribution channels?
Middlemen
Indirect distribution channels use _______ to sell their products to the end customers.
Idea
The first stage of the product/market fit is the ________ stage.
prototype
The second stage of the product/market fit is the ________ stage.
launch
The third stage of the product/market fit is the ________ stage.
traction
The fourth stage of the product/market fit is the ________ stage.
monetization
The fifth stage of the product/market fit is the ________ stage.
growth
The sixth and final stage of the product/market fit is the ________ stage.
Set quality standards
The first step of creating a quality control process is to _____________.
Establish the method of testing product quality
The second step of creating a quality control process is to _____________.
Review the internal quality testing results
The third step of creating a quality control process is to _____________.
Refine and improve quality methods and measures as needed.
The fourth step of creating a quality control process is to _____________.
Employee
Sarah is a(n) ________ because she performs tasks while abiding by company policies
and receives a wage for her work.
Success
Sharon is in the ________ stage because she is earning more money, and the
company's finances are doing well. Because she is not yet preparing to finance future
growth, she is not yet in the take-off stage.
Trade secret
Knowing a process has been tested and works well is valuable to companies as they
can assume it would work just as successfully for their company. As a result, companies
may want to use __________ materials.
Business plan
A written document that details how a business will be structured, managed, run, and
grown.
Pitch deck
A brief overview of a business plan, the products and services that will be provided, the
funding needed, and financial projections.
, Lean canvas
Covers problems and solutions, value propositions, marketing channels, key metrics,
costs, and revenue without all of the business plan details.
Critical thinking
___________ involves solving problems in the best way by considering various
potential solutions to the problem.
Creativity and innovation
_________________ bring new and unconventional ideas to the table and finding
creative and new solutions to the way things are done.
Collaboration
______________ is working with others toward a common goal.
Problem solving
______________ is coming up with solutions to solve a problem.
Personal agency
_____________ is working towards achieving a goal without someone directing and
ensuring it is being done.
Ethical practices
______________ involve decision-making based on morals and doing the right thing.
Social responsibilities
_____________ involve preventing and removing any corruption and unethical behavior
that could harm a business, the community, or the environment.
They must obtain ownership of the patent
What must happen before one can use someone else's patent?
Newspaper marketing
With ________, it is easy to target a specific geographic location.
(cost * desired profit margin) + cost
What is the formula for selling price?
(Marketing expenses + Sales expenses)/ number of new customers in the period
What is the formula for calculating Customer Acquisition Cost (CAC)?
[(Ending number of customers in a period - new customers gained in a
period)/Starting number of customers in a period] * 100
What is the formula for calculating Customer Retention Rate (CRR)?
Equity
___________ is the owner's remaining value after all liabilities have been deducted.
Assets - Liabilities
What is the formula for calculating equity?
Liabilities + Equity
What is the formula for calculating assets?
Balance Sheet
A(n) _____________ shows what a company owns (both assets and liabilities.)
Income Statement
A(n) _____________ shows the total revenues and expenses for a specific period of
time.
total income - COGS - expenses
What is the formula for calculating net income?
income - COGS
