Entrepreneurship Practice 2

Front

What is the disadvantage of brainstorming ideas on your own?

Back

Lack of exposure to others' viewpoints

Front

Costs of sales for a new manufacturing venture typically include: raw materials, equipment, and product inventory.

Back

raw materials, equipment, and product inventory.

Front

Which of the following is an inexpensive method for entrepreneurs to collect information during concept development: A. Conducting an observational study, B. Researching similar products, C. Creating a product prototype, D. Introducing the product to a test market

Back

Researching similar products

Front

Before releasing her new robotic coffee maker, how can Rae keep the engineers from sharing her idea with others?

Back

Nondisclosure agreements

Front

Business process design contributes to the standardization of work tasks by establishing best practices and communicating them throughout the organization.

Back

establishing best practices and communicating them throughout the organization.

Front

Although hiring a highly skilled employee is an added expense, a business owner benefits because the employee's activities increase the firm's overall productivity based on their

Back

expertise.

Front

Bethany wants to make sure she is making informed, intelligent decisions for her entrepreneurial venture. Bethany should

Back

form and consult an advisory board.

Front

Looking at problems from various points of view helps a small-business owner develop

Back

creative solutions.

Front

A car company has decided to invest less in its successful pickup truck and to use those funds instead on the development of its new hybrid vehicle. This is an example of

Back

a harvest strategy.

Front

Which section of a feasibility study may not be necessary if the venture doesn't require any significant changes in human resources:

Back

Organizational