Entrepreneurship Concepts and Strategies

What is a key characteristic of entrepreneurs?

• They are born with all the good ideas.

• They are unwilling to take financial risks.

• They believe in their ideas and take financial risks to make them real.

• They only focus on making life easier for themselves.

Which of the following is NOT identified as a main source of innovative ideas?

• Passions

• Complaints

• Ego

• Luck

What common problem led to the creation of Dropbox?

• Tangled headphones

• Forgetting a thumb drive

• Lack of movies directed by women

• Sweaty workout shirts

What was Mary Cherry's main mistake when launching her gluten-free cream puff shop?

• She spent too much money on a chic logo.

• She didn't talk to potential customers or specialists.

• She focused too much on gluten-free options.

• She didn't have enough passion for cream puffs.

What are the two main types of individuals an entrepreneur should seek out when initially developing a business idea?

• Potential investors and marketing specialists

• Customers experiencing the problem and experts who can provide guidance

• Close family members and trusted friends

• Business rivals and established industry leaders

What is the primary benefit of utilizing a Business Model Canvas during the early stages of developing a new business concept?

• To secure immediate financial backing from lending institutions.

• To draft an extensive, multi-page traditional business plan.

• To visually organize and clarify the core elements of the business idea.

• To identify and resolve potential legal and intellectual property concerns.

In the Business Model Canvas, which component focuses on identifying the specific groups of people or organizations a company aims to serve?

• Value Proposition

• Key Activities

• Customer Segments

• Revenue Streams

According to the Business Model Canvas, which of the following would be considered a key resource for a streaming service like Netflix?

• Competitors' subscription rates

• A global network of data storage facilities

• Traditional broadcast television licenses

• Physical retail stores for product distribution