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WorksheetsChap 10 Business Model and Start-up Quiz
Total questions: 10
Worksheet time: 10mins
What are the four essential elements of a business concept?
The value proposition, the customer definition, the distribution channel, the product/service
The product/service, the customer, the distribution channel, the value proposition
The customer definition, the value proposition, the product/service, the distribution channel
The distribution channel, the value proposition, the customer definition, the product/service
What are the three essential elements required to test a potential business idea?
What is the product and/or service, who is the customer likely to be, what is the benefit of your product/service
Who is the customer likely to be, what is the benefit of your product/service, what is the product and/or service
Who is the customer likely to be, what is the product and/or service, what is the benefit of your product/service
What is the benefit of your product/service, what is the product and/or service, who is the customer likely to be
What are the most popular legal structures for start-ups?
Sole trader, Partnership, Limited liability companies
Sole trader, Partnership, Corporation
Sole trader, Corporation, Limited liability companies
Sole trader, Franchise, Limited liability companies
What is the primary purpose of a social enterprise?
To compete with other businesses
To reinvest profit for social purposes of the business or community
To maximize profit for the owners
To provide employment opportunities
What are the sources of funding for a start-up?
Personal savings, Venture capital, Bank loans
Personal savings, Angel investors, Bank loans
Personal savings, Money from family and friends, Bank loans
Personal savings, Crowdfunding, Bank loans
What is the legal structure in which two or more individuals invest money, skills, and other resources, and share profit and loss?
Franchise
Limited liability company
Sole trader
Partnership
What is an enterprise in its early stage of operations or trading called?
A mature enterprise
A declining enterprise
A start up enterprise
A rebirth enterprise
What is a business that operates under a license granted by a company to market its products or service in a particular territory called?
A partnership
A franchise
A sole trader
A corporation
What is the process of using creative skills to identify a new innovation called?
Opportunity recognition
Market research
Feasibility analysis
Financial projections
What are the three key issues in the start-up phase of a business?
Finding customers, Building a structure, Financing
Developing a business plan, Acquiring resources and personnel, Testing concept feasibility
Opportunity recognition, Testing concept feasibility, Developing a business plan
Market research, Feasibility analysis, Financial projections
