Entrepreneurship Flashcard

Front

Which of the following is not a key component of a successful business plan? Executive Summary, Market Analysis, Product Development, Organizational Charts

Back

Organizational Charts

Front

Which of these is an important way to finance a new business? Personal savings, Venture capital, Angel investors, All of the above

Back

All of the above

Front

What is the primary purpose of a business pitch?

Back

To showcase the product or service, demonstrate industry expertise, and secure funding or investment.

Front

Which of the following is not a key element of an effective business pitch? Highlighting the problem your business solves, Discussing your competitive advantages, Detailing your company's financial projections, Providing your personal resume

Back

Providing your personal resume

Front

What is the primary purpose of market research for an entrepreneur?

Back

To identify target customers, analyze industry trends, and assess potential competitors.

Front

Which of the following is not a common source of market data for an entrepreneur? Industry reports, Customer surveys, Competitor websites, Employee performance reviews

Back

Employee performance reviews

Front

What is the main benefit of building strategic partnerships as an entrepreneur?

Back

Gaining access to new markets, Sharing resources and expertise, Boosting credibility and reputation.

Front

Which of the following is not a key factor in choosing the right business location? Cost of rent or property, Proximity to target customers, Availability of skilled labor, The entrepreneur's personal preferences

Back

The entrepreneur's personal preferences

Front

What is the primary purpose of branding for an entrepreneur?

Back

To establish a unique visual identity, communicate the company's values and personality, and build customer loyalty and recognition.

Front

Which of the following is not a common element of an effective marketing plan?
Defining the target customer profile,
Outlining pricing and promotional strategies,
Detailing the product or service roadmap,
Analyzing the entrepreneur's personal background

Back

Analyzing the entrepreneur's personal background