Business Ownership CTE review

Which two criteria are required for obtaining venture capital funding?

• Multiple business partners

• A scalable business model

• A profitable exit strategy

• Brand new technology

The design thinking process is highly focused on using secondary research to develop solutions to problems.

• True

• False

Which two elements below of the sales process, goes after the sales pitch?

• Prospect

• Overcome objections

• Follow-up

• Approach

You need to start a customer loyalty program to reward and retain your current customers. Which two types of programs should you select?

• Points program

• Coupon code

• Annual sale

• Referral program

You have a cleaning company. You raised $10,000 from investors to get started. After three months, you have $7,450. What is your burn rate and current runway?

• $850 and about nine months of expenses covered.

• $850 and about twelve months pf expenses covered.

• $1000 and about three months of expenses covered.

• $1000 and about ten months of expenses covered

Who finds and invests resources to form the company and help it succeed?

• CFO

• Founder

• CEO

Which of the following expenses are a "Customer Retention Cost"?

• SEO Marketing

• Affiliate programs

• Training programs

• Engagement programs

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

• Product shipping

• Product storage

• Product marketing

• Product manufacturing

A fixed cost has the same value each time it is incurred.

• true

• false

The design thinking process aims to develop a product based on the designer's needs.

• true

• false