Entrepreneurship & Small Business V.2 - Vocabulary Quiz (Part 1)

Who is the highest-ranking officer responsible for a company’s overall success?

• CFO

• COO

• CEO

• Manager

Which role is responsible for managing and planning cash flow and budgets?

• CEO

• COO

• CFO

• HR Manager

Which manager oversees the day-to-day operations of a company?

• CEO

• CFO

• COO

• CMO

Compensation in the form of company ownership is called:

• Salary

• Equity

• Commission

• Hourly Pay

The first stage of the business life cycle is:

• Success

• Existence

• Take-off

• Exit Plan

The business life cycle stage when the owner decides whether to grow or sell is:

• Resource maturity

• Success

• Take-off

• Existence

The stage where the owner separates financially and operationally from the business is:

• Exit

• Resource maturity

• Take-off

• Survival

Which step of the design thinking process involves identifying customer needs?

• Define

• Empathize

• Ideate

• Prototype

Which step of design thinking focuses on generating possible solutions?

• Prototype

• Ideate

• Define

• Test

A short slideshow presented to investors to outline a business idea is a:

• Pitch deck

• Lean Canvas

• Business Plan

• SWOT