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Exam (elaborations)

ENT 101 Final exam questions with answers

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ENT 101 Final exam questions with answers

Institution
Brigham Young University
Course
ENT 101









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Institution
Brigham Young University
Course
ENT 101
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Uploaded on
September 19, 2025
Number of pages
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Written in
2025/2026
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  • ent 101 final exam questions with answers

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ENT 101 Final exam questions with answers
|\ |\ |\ |\ |\ |\




NISI Phases - CORRECT ANSWERS ✔✔1. Nail the Pain
|\ |\ |\ |\ |\ |\ |\ |\ |\




2. Nail the Solution
|\ |\ |\ |\




3. Nail Go to Market
|\ |\ |\ |\ |\




4. Nail the Business Model
|\ |\ |\ |\ |\




5. Scale it
|\ |\




Traditional Process Method - CORRECT ANSWERS ✔✔1.|\ |\ |\ |\ |\ |\ |\


entrepreneur has an idea |\ |\ |\




2. discusses with friends and family/ raises money
|\ |\ |\ |\ |\ |\ |\




3. find location, build product
|\ |\ |\ |\




4. test product, perfect it
|\ |\ |\ |\




5. sell it
|\ |\




Business model canvas - CORRECT ANSWERS ✔✔
|\ |\ |\ |\ |\ |\




3 myths of entrepreneurship - CORRECT ANSWERS ✔✔1. process
|\ |\ |\ |\ |\ |\ |\ |\ |\


myth |\




2. hero myth
|\ |\ |\




3. money myth
|\ |\




Reasons why entrepreneurs fail - CORRECT ANSWERS ✔✔- tackle
|\ |\ |\ |\ |\ |\ |\ |\ |\


wrong tasks |\ |\

, - do things in wrong order
|\ |\ |\ |\ |\




-fall prey to own strengths
|\ |\ |\ |\ |\




- follow conventional wisdom
|\ |\ |\ |\




- more capital increases failure
|\ |\ |\ |\




Why do 90% of businesses fail - CORRECT ANSWERS ✔✔couldn't
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\


get anyone to buy it
|\ |\ |\ |\




What are the role of customers vs role of entrepreneurs -
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\


CORRECT ANSWERS ✔✔customers validate, entrepreneurs |\ |\ |\ |\ |\


innovate


Three types of customers - CORRECT ANSWERS ✔✔1. end user
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\


customers
2. technical customers
|\ |\ |\




3. economic customers
|\ |\




end user customers - CORRECT ANSWERS ✔✔the person uses the
|\ |\ |\ |\ |\ |\ |\ |\ |\


product or manages the people who use it
|\ |\ |\ |\ |\ |\ |\ |\




technical customers - CORRECT ANSWERS ✔✔IT person who |\ |\ |\ |\ |\ |\ |\ |\


installs or maintains the product |\ |\ |\ |\




Economic Customers - CORRECT ANSWERS ✔✔the person who |\ |\ |\ |\ |\ |\ |\ |\


makes the ultimate purchase decision|\ |\ |\ |\
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