Entrepreneurship final review

Front

Pick the best definition for: Entrepreneur

Back

an individual who creates a new business, bearing most of the risks and enjoying most of the rewards.

Front

True or False: The Business Plan and Business Model Canvas are static documents that are written early in the planning phase.

Back

False

Front

The ________________ is/are often required by potential investors, lenders, and other financial stakeholders prior to investing money or other assets into the new business venture.

Back

Business Plan

Front

Pick two essential characteristics of successful entrepreneurs: Extroverted and Aggressive, Passionate and Purpose-Driven, Formally Educated and Driven, Profit-Oriented and Independent.

Back

Passionate and Purpose-Driven

Front

What type of entrepreneur would best describe Dante, who runs Sock Nation, sells customized socks and slippers, donates shoes for every ten pairs sold, and aims to satisfy an unmet need while improving society?

Back

Social Entrepreneur

Front

Select the best definition for: Design Thinking

Back

A process for creative problem solving, focused on the people experiencing the problem.

Front

Select the best definition for Design Thinking.

Back

The process of combining empathy for potential customers' needs and problems with innovation of an entrepreneur and the entrepreneur's ability to iterate numerous prototypes to discover what best meets the customers' needs and creates value.

Front

True or False: The Problem Statement, on the Business Model Canvas, is a firm statement and will not change as you research and develop other areas of the business such as Customer Segments.

Back

False

Front

Select the best strategy for starting off the entrepreneurial pitch from the available options: Grab the audience's attention and give them your contact information for later contact, Get your product or prototype into the audience's hands as step one, Be upfront about your intentions for earning the audience's investment or purchase of your new product/service, Acknowledge that the pitch is interactive and aim to engage, or hook, the audience right away

Back

Acknowledge that the pitch is interactive and aim to engage, or hook, the audience right away

Front

Evaluating an entrepreneurial opportunity requires an analysis of the business's goals and fit with the staff, opportunity costs of financial stakeholders, and risk reward tolerance of stakeholders. This analysis is described as:

Back

Self & Investor Analysis