Entrepreneurship I: Objective 2.04 and 2.05

A Lean Canvas Business Model can have 20-40 pages.

• True

• False

How many boxes does a Lean Canvas have?

• 3

• 6

• 9

• 12

Your target customers and users are listed in which section of the LCBM.

• Problem

• Customer Segments

• Channels

• Key Metrics

What best describes a Business Model Canvas?

• One page plan outlining your new business idea

• A piece of art work

• A model of your business office

Lean Canvas Business Model

• an expense a business incurs through its normal business operations

• arrangement whereby a licensor grants the right to intangible property to another entity for a specified period, and in return, the licensor receives a royalty fee from the licensee

• written description of your business's future, a document that tells what you plan to do and how you plan to do it

• 1 page business plan template that helps you deconstruct your idea into its key assumptions

Which of the following is a reason to conduct a feasibility study:

• Considering a new product idea

• Hiring a new employee

• Ordering office supplies

• Choosing an advertising slogan

The primary purpose of a feasibility study is to answer which of the following questions:

• What are the opportunity costs of this projec
• What technology will be needed for this project?
• Should we proceed with this project?
• Is this business plan valid?

A feasibility study  is an organized inquiry into the possible success of a

business idea or venture.

• False

• True

1. Which is not a reason for owners/managers to not conduct a feasibility study?

• Don’t conduct a feasibility study if your idea isn’t serious or promising

• When you don't have a business plan.

• Don’t conduct a feasibility study if you already know you can’t finance the venture.

• • Save your resources for your top proposals only.

What options do owners/managers have at the end of a feasibility study?

• proceed with the venture

• postpone the venture

• abandon the venture all together

  
  

• All of the above