ESB V2 Certification Questions With Correct Answers.
_______ is measured by how well the product or service successfully serves its users' purpose. -
✔✔Quality
What are two examples of direct distribution channels? - ✔✔E-commerce sales and door-to-door
sales
Indirect distribution channels use _______ to sell their products to the end customers. -
✔✔Middlemen
The first stage of the product/market fit is the ________ stage. - ✔✔Idea
The second stage of the product/market fit is the ________ stage. - ✔✔prototype
The third stage of the product/market fit is the ________ stage. - ✔✔launch
The fourth stage of the product/market fit is the ________ stage. - ✔✔traction
The fifth stage of the product/market fit is the ________ stage. - ✔✔monetization
The sixth and final stage of the product/market fit is the ________ stage. - ✔✔growth
The first step of creating a quality control process is to _____________. - ✔✔Set quality standards
The second step of creating a quality control process is to _____________. - ✔✔Establish the method
of testing product quality
The third step of creating a quality control process is to _____________. - ✔✔Review the internal
quality testing results
The fourth step of creating a quality control process is to _____________. - ✔✔Refine and improve
quality methods and measures as needed.
Sarah is a(n) ________ because she performs tasks while abiding by company policies and receives a
wage for her work. - ✔✔Employee
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.
- ✔✔Success
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. - ✔✔Trade secret
, A written document that details how a business will be structured, managed, run, and grown. -
✔✔Business plan
A brief overview of a business plan, the products and services that will be provided, the funding needed,
and financial projections. - ✔✔Pitch deck
Covers problems and solutions, value propositions, marketing channels, key metrics, costs, and revenue
without all of the business plan details. - ✔✔Lean canvas
___________ involves solving problems in the best way by considering various potential solutions to the
problem. - ✔✔Critical thinking
_________________ bring new and unconventional ideas to the table and finding creative and new
solutions to the way things are done. - ✔✔Creativity and innovation
______________ is working with others toward a common goal. - ✔✔Collaboration
______________ is coming up with solutions to solve a problem. - ✔✔Problem solving
_____________ is working towards achieving a goal without someone directing and ensuring it is being
done. - ✔✔Personal agency
______________ involve decision-making based on morals and doing the right thing. - ✔✔Ethical
practices
_____________ involve preventing and removing any corruption and unethical behavior that could
harm a business, the community, or the environment. - ✔✔Social responsibilities
What must happen before one can use someone else's patent? - ✔✔They must obtain ownership of
the patent
With ________, it is easy to target a specific geographic location. - ✔✔Newspaper marketing
What is the formula for selling price? - ✔✔(cost * desired profit margin) + cost
What is the formula for calculating Customer Acquisition Cost (CAC)? - ✔✔(Marketing expenses +
Sales expenses)/ number of new customers in the period
What is the formula for calculating Customer Retention Rate (CRR)? - ✔✔[(Ending number of
customers in a period - new customers gained in a period)/Starting number of customers in a period] *
100
___________ is the owner's remaining value after all liabilities have been deducted. - ✔✔Equity
What is the formula for calculating equity? - ✔✔Assets - Liabilities
_______ is measured by how well the product or service successfully serves its users' purpose. -
✔✔Quality
What are two examples of direct distribution channels? - ✔✔E-commerce sales and door-to-door
sales
Indirect distribution channels use _______ to sell their products to the end customers. -
✔✔Middlemen
The first stage of the product/market fit is the ________ stage. - ✔✔Idea
The second stage of the product/market fit is the ________ stage. - ✔✔prototype
The third stage of the product/market fit is the ________ stage. - ✔✔launch
The fourth stage of the product/market fit is the ________ stage. - ✔✔traction
The fifth stage of the product/market fit is the ________ stage. - ✔✔monetization
The sixth and final stage of the product/market fit is the ________ stage. - ✔✔growth
The first step of creating a quality control process is to _____________. - ✔✔Set quality standards
The second step of creating a quality control process is to _____________. - ✔✔Establish the method
of testing product quality
The third step of creating a quality control process is to _____________. - ✔✔Review the internal
quality testing results
The fourth step of creating a quality control process is to _____________. - ✔✔Refine and improve
quality methods and measures as needed.
Sarah is a(n) ________ because she performs tasks while abiding by company policies and receives a
wage for her work. - ✔✔Employee
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.
- ✔✔Success
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. - ✔✔Trade secret
, A written document that details how a business will be structured, managed, run, and grown. -
✔✔Business plan
A brief overview of a business plan, the products and services that will be provided, the funding needed,
and financial projections. - ✔✔Pitch deck
Covers problems and solutions, value propositions, marketing channels, key metrics, costs, and revenue
without all of the business plan details. - ✔✔Lean canvas
___________ involves solving problems in the best way by considering various potential solutions to the
problem. - ✔✔Critical thinking
_________________ bring new and unconventional ideas to the table and finding creative and new
solutions to the way things are done. - ✔✔Creativity and innovation
______________ is working with others toward a common goal. - ✔✔Collaboration
______________ is coming up with solutions to solve a problem. - ✔✔Problem solving
_____________ is working towards achieving a goal without someone directing and ensuring it is being
done. - ✔✔Personal agency
______________ involve decision-making based on morals and doing the right thing. - ✔✔Ethical
practices
_____________ involve preventing and removing any corruption and unethical behavior that could
harm a business, the community, or the environment. - ✔✔Social responsibilities
What must happen before one can use someone else's patent? - ✔✔They must obtain ownership of
the patent
With ________, it is easy to target a specific geographic location. - ✔✔Newspaper marketing
What is the formula for selling price? - ✔✔(cost * desired profit margin) + cost
What is the formula for calculating Customer Acquisition Cost (CAC)? - ✔✔(Marketing expenses +
Sales expenses)/ number of new customers in the period
What is the formula for calculating Customer Retention Rate (CRR)? - ✔✔[(Ending number of
customers in a period - new customers gained in a period)/Starting number of customers in a period] *
100
___________ is the owner's remaining value after all liabilities have been deducted. - ✔✔Equity
What is the formula for calculating equity? - ✔✔Assets - Liabilities
