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Worksheets

ESB Domain 1

Total questions: 20

Worksheet time: 30mins

Name
Class
Date
1.

______ are for-profit corporations with limited liability and are NOT the most ideal for overseas or international operations.

a)

C corp

b)

S corp

c)

LLC (Limited Lability Company)

2.

The five elements of the design thinking process are: empathize, define, ideate, prototype , and _____

a)

observe

b)

exam

c)

test

d)

experiment

3.

________ is the amount of loss one is willing to take when making an investment decision

a)

Willingness

b)

Will power

c)

Risk tolerance

d)

Strength

4.

Businesses can compensate employees for work they produce when being paid by ______

a)

percent pay

b)

hours worked

c)

salary

d)

piece work

5.

A ______votes on the management of a company.

a)

stockholder

b)

Customer

c)

Board of Directors

d)

All of these

6.

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

a)

exit plan

b)

ending

c)

gateway

d)

retire

7.

The ______ creates the first impression of a business plan.

a)

lean canvas

b)

business plan

c)

executive summary

d)

all of these

8.

The design team creates multiple inexpensive versions of a product, known as_______ .

a)

Experimental Viable Products

b)

Minimum Viable Products

c)

Maximum Viable Products

d)

Experimental Product

9.

Peter has decided to purchase a new carpet for his townhouse, He visits a local store to purchase the carpet there. Why type of transaction is this?

a)

Business to consumer (B2C)

b)

Physical

c)

Digital

d)

Business to Business (B2B)

10.

Entrepreneurs are willing to take on new opportunities and unknown risks to grow their businesses rapidly

a)

FALSE

b)

TRUE

11.

_____ allows one to see and experience a customer's perspective

a)

Empathy

b)

Kindness

c)

Entrepreneurial skills

d)

Understanding

12.

are ideal for international businesses.

a)

International Company

b)

Over Sea Corp

c)

none of these

d)

C corp

13.

When considering the reliability of the management for a business opportunity, what else should one consider at this time?

a)

the cost of management

b)

one's own skillset

c)

the cost of the product

d)

the employee's skillset

14.

When a ______purchases an item from a business, it is a business-to-consumer transaction

a)

business

b)

vendor

c)

customer

d)

all of these

15.

A pitch deck is most commonly presented in the form of a ______ presentation

a)

slide

b)

Powerpoint

c)

all of these are wrong

d)

both of these are correct

16.

Michelle owns a charter school. She has recently begun earning more money and the schools' finances are doing well. In which business life cycle stage is Michelle?

a)

Take Off

b)

Success

c)

Survivial

d)

Existence

17.

A _____ and value proposition provides a brief overview of a business where one talks about the company's mission and the value provided to customers

a)

vision

b)

mindset

c)

sighting

d)

all of these are right

18.

The (COO) Chief Operating Officer duty is

a)

handles the finances of a company

b)

oversees daily operational and administrative functions

c)

oversees the marketing team

d)

oversees the daily transactions for a company

19.

Confidentiality or disclosure agreements are signed by employees, agreeing not to share trade secrets.

a)

False

b)

true

20.

Franchises will generally have higher _______________________, but they offer ongoing support and training

a)

training costs

b)

start-up costs

c)

bankruptcy rates

d)

taxes