Entrepreneurship Unit 2

The brainstorming process is used to accomplish which primary goal?

• come up with as many ideas as possible

• analyze each idea as it is presented

• rate each idea in relation to one another

• come up with a set number of ideas within a certain time

The costs of operating a business are often called which expense?

• fixed

• overhead

• variable

• markdown

An individual who takes action when he or she is unsure of the outcome is able to preform which action?

• tolerate ambiguity

• demonstrate sincerity

• show empathy

• resolve conflicts

Many entrepreneurs encounter which situations of emotional risks?

• marital tensions and family problems

• unemployment and uncertain income

• competition and difficult suppliers

• inflation and slow market acceptance

When conducting an environmental scan, which is an economic factor that a business should consider?

• consumer spending benefits

• global trade regulations

• local demographics

• restricted sales territories

Ben is conducting a feasibility study for a new venture idea. Which question should Ben answer in terms of the financial considerations for the venture?

• how will the business obtain the money it needs?

• what regulations is the business likely to encounter?

• is there a real demand for the idea, good, or service?

• how will the business communicate information about its products?

Which is usually a characteristic of a creative person?

• likes to seek out new challenges

• depends on others

• patient with other people

• prefers working under supervision

Which statement is true about entrepreneurial discovery?

• It ensures that start-up businesses have continuous funding

• it is an ongoing process that facilitates the success rate of a business

• it provides entrepreneurs with professional development training

• it is a way to determine the long-term profit that a start-up company can generate

Which statement is true regarding the use of group creative-thinking techniques to facilitate the idea-generation process?

• the brainstorming technique usually generates the best ideas

• groups are usually more effective when each member uses mind-mapping techniques

• group members most often generate new ideas by altering or building upon another idea

• the Six Thinking Hats technique is generally the most effective idea-generation technique

Which is a way that a business can determine if a product will fulfill the needs of a target market?

• observe workers

• distribute promotional materials

• ask the customers

• develop a prospect list