EEE 2023 Exam 1 Questions With
Complete solutions
Someone |who |starts |a |business |in |order |to |pursue |a |certain |lifestyle, |such |as |a |personal |
trainer |or |a |bed |and |breakfast |is |said |to |have |what |kind |of |business?
Relational |business
Lifestyle |business
Salary |substitute |business
Emerging |business
Scalable |business |- |CORRECT |ANSWER✔✔-Lifestyle |business
Maggie |opens |an |upscale |clothing |boutique |that |carries |hard-to-find |designer |labels. |Her |
prices |are |high |because |she |knows |some |people |will |pay |those |prices, |specifically |for |those |
brands, |such |as |$1200 |for |a |purse. |This |is |an |example |of |___________________________ |
pricing.
value-driven
cost-driven
market-driven
exclusive
selective |- |CORRECT |ANSWER✔✔-value-driven
According |to |the |textbook, |the |four |characteristics |of |successful |entrepreneurs |are:
on |the |cutting |edge |of |technological |change, |forward |thinking, |tenacity |despite |failure, |and |
product/customer |focus
,passion |for |the |business, |tenacity |despite |failure, |product/customer |focus, |and |execution |
intelligence
passion |for |the |business, |seeks |recognition, |young |and |energetic, |and |execution |intelligence
young |and |energetic, |passion |for |the |business, |product/customer |focus, |and |seeks |recognition
passion |for |the |business, |on |the |cutting |edge |of |technological |change, |very |charismatic, |and |
tenacity |despite |failure |- |CORRECT |ANSWER✔✔-passion |for |the |business, |tenacity |despite |
failure, |product/customer |focus, |and |execution |intelligence
A |________ |is |a |firm's |plan |or |recipe |for |how |it |creates, |delivers, |and |captures |value |for |its |
stakeholders.
tactical |model
business |plan
launch |plan
commercialization |plan
business |model |- |CORRECT |ANSWER✔✔-business |model
Nathan |Green |is |starting |a |firm |in |the |organic |produce |industry. |Nathan |has |developed |a |
statement—"Helping |Make |Your |Life |Better, |Healthier, |and |Fuller"—that |describes |the |reason |
his |company |exists |and |what |his |business |model |is |supposed |to |accomplish. |In |the |
terminology |used |in |the |Barringer/Ireland |Business |Model |Template, |Nathan's |statement |is |
referred |to |as |his:
uniqueness |statement
differentiation |statement
, task |statement
mission |statement
values |statement |- |CORRECT |ANSWER✔✔-mission |statement
Jennifer |wants |to |start |a |business |where |customers |sign |up |online |and |get |a |box |of |dog |treats |
and |dog |toys |delivered |to |their |house |each |month |for |$15.95 |per |month. |Her |business |model |
is |a |_____________ |model.
peer-to-peer
freemium
consumables
subscription
retailer |- |CORRECT |ANSWER✔✔-subscription
According |to |the |textbook, |the |number |one |reason |that |people |become |entrepreneurs |is |to:
realize |financial |rewards
pursue |their |own |ideas
continue |a |family |tradition
gain |prestige
be |their |own |boss |- |CORRECT |ANSWER✔✔-be |their |own |boss
During |the |first |week |of |class, |when |talking |about |how |entrepreneurs |think |differently, |we |saw
|a |video |about |the |different |naming |protocol |for |streets |and |blocks |in |the |United |States |and |
Japan, |where |either |streets |have |names |or |blocks |have |names. |The |point |of |this |video |was:
Japan |is |very |different |geographically |from |the |United |States |so |a |different |naming/numbering
|system |was |needed
Complete solutions
Someone |who |starts |a |business |in |order |to |pursue |a |certain |lifestyle, |such |as |a |personal |
trainer |or |a |bed |and |breakfast |is |said |to |have |what |kind |of |business?
Relational |business
Lifestyle |business
Salary |substitute |business
Emerging |business
Scalable |business |- |CORRECT |ANSWER✔✔-Lifestyle |business
Maggie |opens |an |upscale |clothing |boutique |that |carries |hard-to-find |designer |labels. |Her |
prices |are |high |because |she |knows |some |people |will |pay |those |prices, |specifically |for |those |
brands, |such |as |$1200 |for |a |purse. |This |is |an |example |of |___________________________ |
pricing.
value-driven
cost-driven
market-driven
exclusive
selective |- |CORRECT |ANSWER✔✔-value-driven
According |to |the |textbook, |the |four |characteristics |of |successful |entrepreneurs |are:
on |the |cutting |edge |of |technological |change, |forward |thinking, |tenacity |despite |failure, |and |
product/customer |focus
,passion |for |the |business, |tenacity |despite |failure, |product/customer |focus, |and |execution |
intelligence
passion |for |the |business, |seeks |recognition, |young |and |energetic, |and |execution |intelligence
young |and |energetic, |passion |for |the |business, |product/customer |focus, |and |seeks |recognition
passion |for |the |business, |on |the |cutting |edge |of |technological |change, |very |charismatic, |and |
tenacity |despite |failure |- |CORRECT |ANSWER✔✔-passion |for |the |business, |tenacity |despite |
failure, |product/customer |focus, |and |execution |intelligence
A |________ |is |a |firm's |plan |or |recipe |for |how |it |creates, |delivers, |and |captures |value |for |its |
stakeholders.
tactical |model
business |plan
launch |plan
commercialization |plan
business |model |- |CORRECT |ANSWER✔✔-business |model
Nathan |Green |is |starting |a |firm |in |the |organic |produce |industry. |Nathan |has |developed |a |
statement—"Helping |Make |Your |Life |Better, |Healthier, |and |Fuller"—that |describes |the |reason |
his |company |exists |and |what |his |business |model |is |supposed |to |accomplish. |In |the |
terminology |used |in |the |Barringer/Ireland |Business |Model |Template, |Nathan's |statement |is |
referred |to |as |his:
uniqueness |statement
differentiation |statement
, task |statement
mission |statement
values |statement |- |CORRECT |ANSWER✔✔-mission |statement
Jennifer |wants |to |start |a |business |where |customers |sign |up |online |and |get |a |box |of |dog |treats |
and |dog |toys |delivered |to |their |house |each |month |for |$15.95 |per |month. |Her |business |model |
is |a |_____________ |model.
peer-to-peer
freemium
consumables
subscription
retailer |- |CORRECT |ANSWER✔✔-subscription
According |to |the |textbook, |the |number |one |reason |that |people |become |entrepreneurs |is |to:
realize |financial |rewards
pursue |their |own |ideas
continue |a |family |tradition
gain |prestige
be |their |own |boss |- |CORRECT |ANSWER✔✔-be |their |own |boss
During |the |first |week |of |class, |when |talking |about |how |entrepreneurs |think |differently, |we |saw
|a |video |about |the |different |naming |protocol |for |streets |and |blocks |in |the |United |States |and |
Japan, |where |either |streets |have |names |or |blocks |have |names. |The |point |of |this |video |was:
Japan |is |very |different |geographically |from |the |United |States |so |a |different |naming/numbering
|system |was |needed
