Entrepreneurship and Small Business Certification Study Guide 7

Which two services does direct distribution provide that fulfillment Centers do not?

• Product shipping

• Product manufacturing

• Product marketing

• Product storage

A non-profit organization is taxed.

• True

• False

An S corporation is suitable for international companies with at least 200 shareholders.

• True

• False

A sole proprietorship protects the owner from personal liability.

• True

• False

You want to invest in a company that has simple transactions, low inventory costs, and fast, free product delivery. You would want to invest in a company that . . .

• is a restaurant franchise.

• sells digital products.

• offers cleaning services.

• sells products directly to other businesses.

Which things should you do when doing a competitive analysis? Choose 3.

• Learn the Competitor's Weaknesses and Strengths.

• Discover the competitor's leadership style.

• Learn about the competitors branding.

• Identify who the competitor's customers are.

In the Design Thinking Process the following is part of which step?

Generate Solutions that could potentially solve the problem.

• Prototype

• Test

• Define

• Ideate

• Empathize

In the Design Thinking Process the following is part of which step?

Understanding the customer's problem.

• Prototype

• Test

• Define

• Ideate

• Empathize

In the Design Thinking Process the following is part of which step?

Evaluate the minimum viable product (MVP).

• Prototype

• Test

• Define

• Ideate

• Empathize

In the Design Thinking Process the following is part of which step?

Create a scaled down version of the product.

• Prototype

• Test

• Define

• Ideate

• Empathize