Week 2 Quiz 2

What ownership is ideal for international business?

• S Corp

• C Corp

• Sole Proprietorship

• LLC

What structure is for profit corporations?

• S Corp

• LLC

• Sole Proprietorship

• Partnership

Who oversees daily operational and administrative functions?

• CEO (Chief Executive Officer)

• CFO (Chief Financial Officer)

• COO (Chief Operating Officer)

• Employees

Design thinking is a process. In which order should you complete this process?

• Define, Empathize, Test, Prototype, Ideate

• Ideate, Prototype, Define, Empathize, Test

• Empathize, Define, Ideate, Prototype, Test

• Ideate, Empathize, Define, Prototype, Test

In which stage would you engage and empathize with customers to understand their experiences/needs/challenges?

• Empathize

• Ideate

• Prototype

• Define

In which part of the design thinking process would you create inexpensive versions OR MVPS (Minimum Viable Products)?

• Define

• Empathize

• Ideate

• Prototype

In which order is the business life cycle?

• Existence Stage, Survival Stage, Success Stage, Take-Off Stage, Maturity, Pivot or Persist, Exit Plan Stage

• Survival Stage, Success Stage, Take-Off Stage, Maturity, Pivot or Persist, Exit Plan Stage, Existence Stage

• Success Stage, Take-Off Stage, Maturity, Pivot or Persist, Survival Stage, Exit Plan Stage, Existence Stage

• Take-Off Stage, Maturity, Pivot or Persist, Survival Stage, Exit Plan Stage, Existence Stage, Success Stage

During the _________ stage of the business life cycle, a company is regularly taking on new customers and starting to generate consistent income.

• Existence

• Success

• Maturity

• Survival

The owner may decide to sell their ownership in the company during the ______ _______

• Maturity

• Exit Plan

• Take Off

• Pivot or Persist

The five elements of the design thinking process are: empathize, define, ideate, ______., and test.

• Prototype

• Empathize

• Pivot or Persist

• Define