ch1-G10

Multiple Choice

•Snapshot of the whole plan.

•Highlights business idea, goals, and financial outlook.

• Executive Summary

• Introduction

Multiple Choice

•Explains what the business does.

•Includes products/services, structure, and purpose.

• Executive Summary

• Introduction

Multiple Choice

•Shows how the business will attract customers.

•Covers market research, target market, competition, and the 4Ps.

• •3. Marketing

• •4. Manufacturing (Operations)

Multiple Choice

•Explains how goods/services are produced or delivered.

•Includes suppliers, equipment, location, and quality control.

• •3. Marketing

• •4. Manufacturing (Operations)

Multiple Choice

•Covers business registration, licenses, permits, and legal protection.

•Includes compliance with regulations and intellectual property.

• •5. Management

• •6. Legal

Multiple Choice

•Outlines startup costs, revenue, profits, and funding needs.

•Includes financial forecasts and break-even analysis.

• •7. Financing (Financial Plan)

• •6. Legal

Multiple Choice

•Describes the team and their roles.

•Shows skills, experience, and organizational structure.

• •5. Management

• •6. Legal

Multiple Choice

Dany lives in the Chicago suburbs and uses her hoverboard wherever she goes. She is frustrated

whenever she goes to Chicago and is forced to walk or use a bicycle to get around. She decides to create

a company called Chicago-go Hoverboards, which will place kiosks around the city where users can rent a

hoverboard and use it for an allotted time before dropping it off at a different kiosk. Dany is best classified

as a(n)

• entrepreneur.

• intrapreneur.

Multiple Choice

Shobha is a creative writer. She is self-employed and earns her living by using her knowledge and abilities

to create social media content and blog posts for customers who hire her for her skills. Shobha works as

• C)an intrapreneur.

• D)a freelancer.

Multiple Choice

Zardarious was given the opportunity to buy his friend’s well-established gastropub. Zardarious is ready to

own a business but isn’t sure he should buy the business. What would be the most compelling argument

for Zardarious to buy the gastropub?

• A)opportunity to make profits quickly

• B)easy access to small business loans

Multiple Choice

Zardarious was given the opportunity to buy his friend’s well-established gastropub. Zardarious is ready to

own a business but isn’t sure he should buy the business. What would be the most compelling argument

for Zardarious to buy the gastropub?

• A)opportunity to make profits quickly

• B)easy access to small business loans

Multiple Choice

Which of the following is a psychological characteristic of entrepreneurs?

• A) Self-confidence and belief in personal control

• B) Preference for avoiding responsibility

Multiple Choice

Wilson states, “Culture is important to me. Our culture is based on accountability, camaraderie,

and results. I’ve moved from finding the best person for the job to finding the best fit for our

culture.” The attribute of a successful entrepreneur represents

• self-nurturing individual is highly committed and enthusiastic, and believes in his or her idea, even

  when no one else does

• self-directed individual is highly committed and enthusiastic, and believes in his or her idea, even

  when no one else does

Multiple Choice

A side hustle is a main full-time business that replaces employment completely.

• false

• true

Multiple Choice

Papa Johns strategy to pursue breakfast pizza is an example

• Manager works inside an existing organization, sees an opportunity for a product or service, and

  mobilizes the organization’s resources to turn the opportunity into a profitable reality. Especially as the

  initiative is described as starting with a few locations, this is an example of intrapreneurship

• An intrapreneur works inside an existing organization, sees an opportunity for a product or service, and

  mobilizes the organization’s resources to turn the opportunity into a profitable reality. Especially as the

  initiative is described as starting with a few locations, this is an example of intrapreneurship

Multiple Choice

Keith works as an actuary for a large insurance company. Because he loves math so much, he also

tutors high school students on the weekends.

• Manager

• Side Hustle

Multiple Choice

Josh (a computer programmer), Dylan (a data engineer), and Zeke (an accountant) are working together to develop a new

mobile application that will allow independent authors to sell their written works without having to go through a publisher..

• Entrepreneurial Team

• Side Hustle

Multiple Choice

Tahlia is a stay-at-home mom. When her children are at school, she works out of her house transcribing medical records.

She uses the website Upwork to find clients in need of her skills.

• Entrepreneurial Team

• freelancer

Multiple Choice

Danielle works as a photographer for weddings and special events. She operates her business alone and takes care of all

aspects of the business herself.

• Solopreneur

• Entrepreneurial Team

Multiple Choice

Naveen is fluent in several languages. He runs a small business out of his house where he works via zoom as an interpreter

for companies that have international clients that do not speak English. He chose to work from home rather than join a

professional interpreter company, because working from home allows him to do the work he loves but have a more flexible

schedule.

• Micropreneur

• Freelancer

Multiple Choice

Mateo works at a local café that is popular with morning commuters. He

notices that many customers who buy coffee in the morning transfer the

coffee into their own insulated “to-go” mugs. Mateo comes up with the

idea of having the café’s own insulated mug with the company logo on it

as a way to promote the café. As a bonus—and to increase customer

loyalty—customers who buy the mug will receive a discount every time they present their mug to buy a drink.

• Micropreneur

• Intrapreneur