Entrep Quiz 2

The positive signals that can help entrepreneurs develop ideal business model

• Red Lights

• Green Lights

• Yellow Lights

• Pink Lights

The negative signals that entrepreneurs should be wary of.

• Red Lights

• Green Lights

• Yellow Lights

• Blue Lights

The entrepreneur must calculate the cost and profit associated with serving the customer before pursuing the business.

• Satisfying the customer becomes too costly and irrational.

• Being a Market leader is difficult to sustain.

• Return on investment (ROI) takes too long and too small.

• Offer products or services with reasonable profits.

The three green lights in business model.

• Target high – value customers.

• Offer products or services with great value.

• Offer products or services with reasonable profits.

• All of the above

Anna is an entrepreneur, she wants to offer a reasonable profit by increasing the price.

• Increasing markup

• decreasing operational cost

• increasing markup and decreasing operational cost

• all of the above

Joel is a customer who is easy to find by Anna who is an entrepreneur.

• Target high - value customer

• Offer products or services with great value.

• Offer products or services with reasonable profits.

• All of the above

Anna leads in the business sector by being a top producers of her products to the customer in the first three months, but after 4 months being a leader she decrease the demands of her products because of of increase of her competitors.

• Being a Market leader is difficult to sustain.

• Return on investment (ROI) takes too long and too small.

• Satisfying the customer becomes too costly and irrational.

• All of the above.

ROI stands for

• Return of Investments

• Return of Increase

• Return of Incentives

• All of the above

Ways on how to decreasing the operational cost.

• Devise an efficient distribution of system

• Lessen unnecessary manpower efforts as much as possible

• Apply lean manufacturing process

• All of the above

Customer satisfaction costs, that can impede the success of an entrepreneur are.

• Warranty

• After sales costs

• Free installation

• Warranty and After sales costs