CM 443 Procore UPDATED Questions and
CORRECT Answers
Once you decide on a name for your business, which of the following is the first action you
should take? - CORRECT ANSWER✔✔- Form a corporation or a limited liability company
Which of the following is the first step in business planning? - CORRECT ANSWER✔✔-
Performing a SWOT analysis
Before entering a joint venture or partnership it is important to establish terms on: -
CORRECT ANSWER✔✔- Both a & b
(Management & Capital Contribution)
What is the basis for a strategic plan? - CORRECT 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 _________, - CORRECT
ANSWER✔✔- A strategic plan
Fill in the blank: A marketing plan should _________. - CORRECT 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? - CORRECT ANSWER✔✔- Direct Mail
Fill in the blank: Business Development is an art because it consists of _____. - CORRECT
ANSWER✔✔- Both a & c
(Image-building & Relationship development)
Fill in the blank: Business development is a science because it consists of _____. -
CORRECT ANSWER✔✔- Both a & b
, (Consulting & Turning relationships into project opportunities)
Typically how long is the Long Sales Cycle in construction? - CORRECT ANSWER✔✔-
Between 6 months and several years
What is intrapreneurship? - CORRECT 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? - CORRECT ANSWER✔✔- Advice; Seed Money
Which of the following is a reason big businesses often fail when implementing new
branches or businesses within their business? - CORRECT ANSWER✔✔- All of the above
When creating a new business unit, what is the first phase? - CORRECT ANSWER✔✔-
Strategy
In which of the following phases of business creation does a team take on the full
responsibility of a business unit? - CORRECT ANSWER✔✔- Launch Funding
Which of the following would be an example of "micro seed innovation"? - CORRECT
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? - CORRECT ANSWER✔✔- Rules against using company
resources for personal work; Intellectual Property Rights
Fill in the Blank: A non-disclosure agreement allows you to ______. - CORRECT
ANSWER✔✔- Discuss ideas with other parties and ensure your intellectual property is
protected
Which of the following is a type of intellectual property protection? - CORRECT
ANSWER✔✔- All of the above
CORRECT Answers
Once you decide on a name for your business, which of the following is the first action you
should take? - CORRECT ANSWER✔✔- Form a corporation or a limited liability company
Which of the following is the first step in business planning? - CORRECT ANSWER✔✔-
Performing a SWOT analysis
Before entering a joint venture or partnership it is important to establish terms on: -
CORRECT ANSWER✔✔- Both a & b
(Management & Capital Contribution)
What is the basis for a strategic plan? - CORRECT 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 _________, - CORRECT
ANSWER✔✔- A strategic plan
Fill in the blank: A marketing plan should _________. - CORRECT 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? - CORRECT ANSWER✔✔- Direct Mail
Fill in the blank: Business Development is an art because it consists of _____. - CORRECT
ANSWER✔✔- Both a & c
(Image-building & Relationship development)
Fill in the blank: Business development is a science because it consists of _____. -
CORRECT ANSWER✔✔- Both a & b
, (Consulting & Turning relationships into project opportunities)
Typically how long is the Long Sales Cycle in construction? - CORRECT ANSWER✔✔-
Between 6 months and several years
What is intrapreneurship? - CORRECT 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? - CORRECT ANSWER✔✔- Advice; Seed Money
Which of the following is a reason big businesses often fail when implementing new
branches or businesses within their business? - CORRECT ANSWER✔✔- All of the above
When creating a new business unit, what is the first phase? - CORRECT ANSWER✔✔-
Strategy
In which of the following phases of business creation does a team take on the full
responsibility of a business unit? - CORRECT ANSWER✔✔- Launch Funding
Which of the following would be an example of "micro seed innovation"? - CORRECT
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? - CORRECT ANSWER✔✔- Rules against using company
resources for personal work; Intellectual Property Rights
Fill in the Blank: A non-disclosure agreement allows you to ______. - CORRECT
ANSWER✔✔- Discuss ideas with other parties and ensure your intellectual property is
protected
Which of the following is a type of intellectual property protection? - CORRECT
ANSWER✔✔- All of the above
