Whaddya know?...about Entrepreneurship so far

What does 'SWOT Analysis' stand for in business strategy?

• Strengths, Weaknesses, Opportunities, Threats

• Strategies, Weaknesses, Opportunities, Threats

• Strengths, Weaknesses, Objectives, Tactics

• Strategies, Weaknesses, Objectives, Tactics

What do 'Strengths' refer to in business marketing?

• A high level overview of the profit and loss of an overall period of time

• Areas that cause the company to struggle

• External factors that may hurt the company's competitive edge

• Areas that give the company a competitive edge

External factors that may hurt the competitive edge of Aiden, Charlotte, and Liam's startup company

• Strengths

• Weaknesses

• Opportunities

• Threats 

What is the purpose of a break-even analysis?

• To analyze our market competition

• To calculate our total revenue without considering our expenses

• To determine the point where the revenue we generate equals our expenses

• To maximize our profits by increasing expenses

What does a Profit and Loss (P&L) Statement provide?

• An analysis of market trends

• A summary of customer feedback

• A comparison of our different product features

• A breakdown of our profit earned and lost month by month

What does 'Positioning' refer to in business marketing?

• analyzing external threats to our company

• The breakdown of sales by different channels

• The image our company has or will create in the minds of potential customers

• The process of setting prices for our products/services

What is the purpose of a 'cash flow statement' in business?

• To analyze our market competition

• To calculate our total revenue without considering expenses

• To determine the point where generated revenue equals expenses

• To provide information about our company's cash received and paid during an accounting period

What does the acronym 'SMART' stand for in relation to a business goal?

• Structured, Measurable, Attainable, Relevant, Targeted

• Strategic, Meaningful, Actionable, Relevant, Timely

• Sustainable, Manageable, Aligned, Resourceful, Timely

• Specific, Measurable, Achievable, Realistic, Time-bound

What does 'Target Market' refer to in business marketing?

• The group of customers our business has decided to aim our marketing efforts and ultimately our products toward

• The process of setting prices for our products/services

• The image our company has or will create in the minds of potential customers

• External factors that may hurt our company's competitive edge

David, Harper, and Elijah are running a startup.

They are discussing the goal of pricing their new product.

What should be their primary goal?

• Minimize the startup's costs

• Make their startup a leader in the marketplace

• Maximize their startup's profits/sales

• Make their product the most popular in the world