CM 443 Procore Quiz with 100% Correct Answers

CM 443 Procore Quiz with 100% Correct Answers Once you decide on a name for your business, which of the following is the first action you should take? - Answer- Form a corporation or a limited liability company Which of the following is the first step in business planning? - Answer- Performing a SWOT analysis Before entering a joint venture or partnership it is important to establish terms on: - Answer- Both a & b (Management & Capital Contribution) What is the basis for a strategic plan? - Answer- Both b & c (It should outline a plan built upon marketing position and potential threats & It should address the 10 year vision for your business) Fill in the blank: A CEO is primarily concerned with _________, - Answer- A strategic plan Fill in the blank: A marketing plan should _________. - Answer- Be supported by the business developer In between the time that project leads are generated and contracts are established, which of the following can be used to leverage marketing? - Answer- Direct Mail Fill in the blank: Business Development is an art because it consists of _____. - Answer- Both a & c (Image-building & Relationship development) Fill in the blank: Business development is a science because it consists of _____. - Answer- Both a & b (Consulting & Turning relationships into project opportunities) Typically how long is the Long Sales Cycle in construction? - Answer- Between 6 months and several years What is intrapreneurship? - Answer- Starting a business within the confines of an existing business Multiple Answer: Which of the following do both intrapreneurial firms and venture capital firms provide? - Answer- Advice; Seed Money Which of the following is a reason big businesses often fail when implementing new branches or businesses within their business? - Answer- All of the above When creating a new business unit, what is the first phase? - Answer- Strategy In which of the following phases of business creation does a team take on the full responsibility of a business unit? - Answer- Launch Funding Which of the following would be an example of "micro seed innovation"? - Answer- Providing employees within a company with a fixed amount of discretionary funds to start their own intrapreneurial ventures Multiple Answer: When you start a new job you often sign an employer agreement that outlines which of the following? - Answer- Rules against using company resources for personal work; Intellectual Property Rights