BUS 3303 Entrepreneurship Final Exam 9 Questions and Answers Solved 100% Correct; University of the People

BUS 3303 Entrepreneurship Final Exam 9 Questions and Answers Solved 100% Correct; University of the People BUS 3303 Entrepreneurship Final Exam 9 Questions and Answers Solved 100% Correct; University of the People BUS 3303 Entrepreneurship Final Exam 9 Questions and Answers Solved 100% Correct; University of the People BUS 3303 Entrepreneurship Final Exam 9 Questions and Answers Solved 100% Correct; University of the People Sored 100% Question 1 Answer saved Marked out of 1.00 Question text For entrepreneurship to thrive, it must operate in a well functioning business and regulatory environment. Select one: True False Question 2 Answer saved Marked out of 1.00 Question text A "Growth Entrepreneur" is one who: Select one: a. Is primarily interested in just earning enough profits from their business to live on. b. Goes into business for themselves in order to achieve a certain lifestyle and greater autonomy. c. Is driven by the competitive nature of business. d. None of the above. Question 3 Answer saved Marked out of 1.00 Question text A social entrepreneur is one who: Select one: a. Primarily utilizes social media for marketing of their business. b. Develops a business with the primary purpose of addressing a social cause. c. Develops businesses that engage in social networking. d. None of the above. Question 4 Answer saved Marked out of 1.00 Question text A disadvantage of using an incubator for an entrepreneurial venture is: Select one: a. Once the business goes on its own, it may not be fully prepared to be self- sufficient. b. Having other businesses around to learn from. c. Reduced rent expenses d. All of the above. Question 5 Answer saved Marked out of 1.00 Question text Mohamed Yunus is: Select one: a. A man who loans money to the poor. b. The world's best known social entrepreneur. c. A man who was an economics professor in Bangladesh. d. All of the above. Question 6 Answer saved Marked out of 1.00 Question text An entrepreneur refers only to someone who develops their own business. Select one: True Question 7 Answer saved Marked out of 1.00 Question text Which of the following is a category to consider when doing Market Segmentation? Select one: a. geography b. age c. gender d. all of the above Question 8 Answer saved Marked out of 1.00 Question text Equity financing refers to: Select one: a. Investment of goods and resources instead of money b. A monetary loan with high interest rates c. Money lent in exchange for business ownership d. All of the above Question 9 Answer saved Marked out of 1.00 Question text Business incubators are places where new business ventures may share office space, equipment, and access to mentors and other professional services to help their businesses get started. Select one: True False Question 10 Answer saved Marked out of 1.00 Question text A licensing business model is used by most software companies and some specialty product companies to create products, and then license them to other companies. Select one: True False Question 11 Answer saved Marked out of 1.00 Question text Which of the following is NOT one of the issues to consider when expanding your business into a foreign country? Select one: a. Language barriers b. Access to raw materials and human resources c. Government barriers d. Differences in currencies Question 12 Answer saved Marked out of 1.00 Question text Great ideas for entrepreneurs should have one of which three key elements? Select one: a. Reduced costs to manufacturers, an established customer base, proven growth potential b. Inexpensive methods for marketing, a broad customer base, sustainable resources c. Inexpensive production costs, low cost of service and materials, and broad customer base d. Improved efficiency, greater effectiveness, or innovations in products or processes Question 13 Answer saved Marked out of 1.00 Question text The acronym "SROI" stands for: Select one: a. Strategic Renovations on Innovations b. Strategic Return on Investment c. Social Return on Investment d. None of the above Question 14 Answer saved Marked out of 1.00 Question text Microfinance loans are primarily for the purpose of: Select one: a. Assisting people in poverty to obtain funds to start a small business. b. Assisting youth with the ability to go to college. c. Providing funding to start-up businesses with a social purpose. d. All of the above. Question 15 Answer saved Marked out of 1.00 Question text The difference between a loan and a grant is that: Select one: a. Grants provide funding for start-up businesses. b. Loans provide funding for start-up businesses. c. Grants do not have to be repaid, but loans do. d. None of the above. Question 16 Answer saved Marked out of 1.00 Question text A social venture capital firm is one that: Select one: a. Organizes professional networking conferences. b. Invests money into ventures that support social or environmental causes. c. Develops social opportunities for entrepreneurs to meet new mentors. d. None of the above. Question 17 Answer saved Marked out of 1.00 Question text Venture Capitalists usually prefer to invest in companies that are in their later stages of development. Select one: True False Question 18 Answer saved Marked out of 1.00 Question text When a business owner accepts venture capital funds: Select one: a. The business owner is usually in the later stages of corporate development. b. The business owner may expand the company and obtain market shares. c. The business owner may lose some control of the business as they share ownership. d. All of the above. Question 19 Answer saved Marked out of 1.00 Question text If you have a promising new idea for a product or service but do not have the funding to produce or commercialize (market) it, then you could consider "licensing," which refers to: Select one: a. Formal permission by a company that allows you to use their operating resources and equipment. b. A formal agreement between an inventor and a company, giving the company the rights to produce, market, and sell his or her own invention or idea. c. A written statement granting permission to an inventor to post their idea publicly without anyone being able to "steal" or use their idea and claim it as their own. d. None of the above. Question 20 Answer saved Marked out of 1.00 Question text Indirect competition includes: Select one: a. A business that has gone out of business recently. b. A business owned by a friend. c. Businesses with missions unrelated to yours that are competing for the dollars you want. Previous page Question 21 Answer saved Marked out of 1.00 Question text One of the most lacking aspects of opportunities for entrepreneurship in developing countries is: Select one: a. Not enough role models/mentors b. A lack of time c. A lack of innovative ideas d. None of the above Question 22 Answer saved Marked out of 1.00 Question text An exit strategy is: Select one: a. An executive summary that details how the business will end. b. A plan for exiting the building in case of an emergency. c. A part of the business plan that details how investors will get their money back and exit the company. d. None of the above. Question 23 Answer saved Marked out of 1.00 Question text An "entrepreneurial ecosystem" could be described as: Select one: a. An environment in which multiple stakeholders play a role in facilitating entrepreneurship. b. A system of mutually beneficial and self-sustaining relationships involving institutions, people and processes. c. An environment where stakeholders create win-win networks of entrepreneurial relationships. d. All of the above Question 24 Answer saved Marked out of 1.00 Question text Debt financing means that: Select one: a. The business owner does not lose any ownership of the business b. Funding must be paid back to the lender c. The borrower must have exceptionally good credit history d. All of the above. Question 25 Answer saved Marked out of 1.00 Question text You cannot incorporate socially beneficial elements into your company and still run it as a for-profit. Select one: True False a. Who makes up your target market b. The needs of your market c. The size of the potential market d. All of the above Question 27 Answer saved Marked out of 1.00 Question text The main points of a business plan presentation are: Select one: a. Market research, customers, finances, and budget. b. Market segmentation, financial investments, and board of directors. c. Summary, market, solution, team, and use of funds. d. Business proposition, customer base, and marketing strategy. Question 28 Answer saved Marked out of 1.00 Question text Venture capitalists are: Select one: a. Individuals interested in investing in new businesses b. Organizations interested in investing in new businesses c. In search of promising companies which are financially vulnerable d. All of the above Question 29 Answer saved Marked out of 1.00 Question text The Tuckman Model outlines the four classic stages of team development. They are as follows: Select one: a. Forming, Storming, Norming, and Performing b. Developing, Convening, Conflicting, and Integrating c. Developing, Conflicting, Nurturing, and Succeeding d. Forming, Conflicting, Normalizing, and Succeeding Question 30 Answer saved Marked out of 1.00 Question text Wealthy individuals who like to invest in small start-up enterprises are known as: Select one: a. Venture Capitalists b. Angel Investors c. Entrepreneurial Investors d. None of the above Previous page Question 31 Answer saved Marked out of 1.00 Question text The two primary categories of primary market research are: Select one: a. indirect and direct b. qualitative and quantitative c. comprehensive and brief d. None of the above Question 33 Answer saved Marked out of 1.00 Question text A Board of Directors is: Select one: a. A group of individuals who manage the day-to-day operations of a business entity b. Always paid a fair salary for their time and dedication to the business c. Not responsible for legal issues that may arise within the company d. A group of elected individuals who take responsibility for overall management and legal responsibility of the business Question 34 Answer saved Marked out of 1.00 Question text Some advantages of incubating a new business are: Select one: a. Access to business and entrepreneurial wisdom b. Sharing ideas and a culture of innovation with peers c. Ease of networking d. All of the above