Entre. 2 ESB Domain 1&2 Flashcard

Front

What is a common risk associated with entrepreneurship? Options: Limited control, Low stress levels, Stability, Predictable income

Back

Limited control

Front

Which type of intellectual property protects original works of authorship? Options: Patent, Trade Secret, Trademark, Copyright

Back

Copyright

Front

Which of the following is a characteristic of a Lean Canvas? Options: Simplified one-page format, Detailed market research, Extensive documentation, Lengthy business history

Back

Simplified one-page format

Front

What is the term for the process of generating, developing, and communicating new ideas for business opportunities?

Back

Innovation

Front

What is the first stage of the design thinking process? Options: Empathize, Prototype, Ideate, Define

Back

Empathize

Front

What is the legal structure that separates the business entity from its owners, providing limited liability protection? Options: Sole Proprietorship, Partnership, Limited Liability Company, Corporation

Back

Limited Liability Company

Front

In which stage of the business life cycle does a business decide if they should continue to grow into a large company or start a new project? Options: Success Stage, Take Off Stage, Pivot or Persist Stage, Resource Maturity Stage

Back

Pivot or Persist Stage

Front

Which stage of the business life cycle is the first stage when a business is just starting?

Back

Existence

Front

What are some common marketing methods used to attract and retain customers? Options: Social media advertising and loyalty programs, SWOT analysis and market trends, Product pricing and customer service, Employee training and financial accounting

Back

Social media advertising and loyalty programs

Front

What are the elements of a sales process in marketing? Options: SWOT analysis, target market identification, and value proposition creation, Customer acquisition, market analysis, and competitor evaluation, Lead generation, prospecting, and closing deals, Product development, employee training, and financial accounting

Back

Lead generation, prospecting, and closing deals