Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
34 Cards in this Set
- Front
- Back
|
In general,businesses with 100-500 employees are considered “medium-sized businesses |
False |
|
|
Amajority of small business owners feel their companies have increased theiroverall standard of living. |
False |
|
|
Whatpercentage of new business ventures typically survive their first 5 years ofoperation? |
40%….25% |
|
|
Whatpercentage of Americans dream of starting a business? |
58% |
|
|
What was the primary objective ofthe Bayh-Dole Act? |
Commercial development of intellectual property |
|
|
Entrepreneurship is a process thatcan be learned. |
True |
|
|
The vast majority of entrepreneursstart their companies with their own personal savings. |
True |
|
|
Generally speaking, entrepreneurs have astronger need to be in control of their own fate |
True |
|
|
Which of the following is not a criticalcomponent for a successful new business? |
The age of the lead entrepreneur |
|
|
Where do most entrepreneurs get theidea for their businesses? |
From exposure to an industry |
|
|
Understanding human behavior isessential to creating a solution that is __________. |
Desirable |
|
|
The term"design" when used in the context of the Design Thinking Methodologyonly applies to the physical characteristics of the product you are developing |
False |
|
|
In the "Ideation" phase of the DesignThinking Methodology it is critical that you avoid clouding your thoughtprocess with possible solutions to the problem at hand |
False |
|
|
In Design Thinking Methodology the "gapbetween the way something is now and the way it should be" is known asa(n) ___________. |
Insight |
|
|
The three phases of the Design Thinking Methodologyare: Inspiration, Brainstorming, Implementation |
False |
|
|
When brain storming for solutions itis important to place emphasis on quantity of ideas over quality of ideas. |
True |
|
|
Library databasesare a great way to collect primary research on your business model. |
False |
|
|
Entrepreneurshipis best defined as “the pursuit of opportunity beyond the ______ you currentlycontrol.” |
Resources |
|
|
A trend is bestdefined as a change in the general direction in which we live |
true |
|
|
Which of the following is oftenconsidered the most important component of the Business Model Canvas? |
Value proposition |
|
|
When utilizing the Business Model Canvas itshould be viewed as a static document that shouldn't be iterated upon |
False |
|
|
Creditcard industry is what type of market? |
Multisided |
|
|
CokeCola is a multisided marketplace |
False |
|
|
Alemonade stand that collects revenue for successfully referring a transactionto occur at a partnering business would be a great example of a ________ |
Transaction fee |
|
|
Inreference to the customer development process the term MVP refers to MinimumValue Proposition. |
False |
|
|
Arevenue model in which you collect pay for allowing someone to utilize yourproduct is referred to as advertising fees |
True* |
|
|
Which of the following is NOT one ofthe three types of basic financial statements? |
Shareholder's report |
|
|
The equation "Net Income =Revenue - Exepnses" best describes which financial statement? |
Income statement |
|
|
The Statement of Cash Flows can beconsidered a "snap shot" of a company's current financial situation. |
False |
|
|
The formula that best describes aBalance Sheet is "Assets = Liabilities + Shareholder's Equity." |
True |
|
|
A company can show a profit on itsIncome Statement but still go out of business due to a lack of capital. |
True |
|
|
A pro-forma financial statement isbest described as the current financial state of a company. |
False |
|
|
Which financial statement bestdescribes the status of a company's working capital? |
Statement of Cash Flows |
|
|
A critical component in developingrealistic proforma statements is fully understanding your revenuedrivers. |
True |
