ESB v2 Practice

What is the key objective of a small business owner?

• To generate risks

• To generate profits

• To generate physical products

• To generate empathy

What type of products require pick-up or delivery?

• Digital

• Physical

• Empathetic

• Profitable

When a customer purchases an item from a business, it is a transaction classified as:

• Business-to-business

• Consumer-to-consumer

• Business-to-consumer

• Consumer-to-business

What type of corporations are ideal for international businesses?

• S corporations

• Non-Profit

• C corporations

• Sole Proprietorships

Who oversees daily operational and administrative functions in a company?

• Chief Executive Officer

• Chief Operating Officer

• Shareholder

• Customer

What is offered to employees in addition to a lower salary to compensate for their work?

• Salary

• Equity

• Empathy

• Piece work

During which stage of the business life cycle is a company starting to generate a consistent income?

• Entry

• Growth

• Survival

• Maturity

During which stage of the business life cycle might the owner decide to sell their ownership in the company?

• Survival

• Growth

• Exit plan

• Start-up

What are the five elements of the design thinking process?

• Empathize, define, ideate, prototype, and test

• Analyze, build, consult, deliver, and evaluate

• Plan, fund, execute, review, and adapt

• Research, design, manufacture, market, and sell

What term is used for multiple inexpensive versions of a product known in the design thinking process?

• Maximum Viable Products

• Minimum Viable Products

• Median Viable Products

• Multiple Viable Products