Session6 Quiz

What is the starting point for entrepreneurial actions in most cases?

• A lucrative opportunity and an enterprising individual

• A stable market and a traditional business model

• A large corporation and a significant investment

• A government policy and a financial institution

What is one of the key considerations in opportunity screening related to customers?

• Is the market real?

• Is the product affordable?

• Is the team experienced?

• Is the technology advanced?

What is an internal opportunity in the context of starting a business?

• An opportunity that comes from external market trends

• An opportunity that comes from a hobby or passion you have

• An opportunity that arises from government policies

• An opportunity that is based on competitor analysis

What is a potential problem with external opportunities?

• They always require a large investment

• They may not fill a need for the market

• You might not have interest in the work

• They guarantee quick success

Which of the following is part of the second major section of an Opportunity Assessment Plan?

• Unique selling propositions of the product

• Specific aspects of the product or service

• Any available data to describe the market need

• Competitive companies in the industry

Which of the following is a characteristic of direct foreign investment?

• Involves no financial commitment

• Ownership percentage depends on investment and host government rules

• Uses an export management firm

• Requires management contracts

Which strategy involves contracting management techniques to a foreign company?

• Indirect exporting

• Direct exporting

• Management contracts

• Licensing

Why might a business fail even if it has an interesting idea?

• The idea is too complex.

• The idea is not based on consumer needs.

• The idea is too expensive to implement.

• The idea is too innovative.

What is the final step in the Plan of Execution?

• Develop a plan

• See an opportunity

• Implement the plan

• Research the idea

Which of the following is encouraged during the Dreamer Stage?

• Criticizing ideas

• Thinking of possibilities

• Focusing on limitations

• Avoiding new suggestions