Ent 386 Final

all of the above

which of the following could invalid a trade mark? -Cancellation proceedings -Cleaning out procedure -Abandonment -Generic meaning

all of the above

which of the following is a characteristic of social entrepreneurship? -Entrepreneurship in a form that exhibits characteristics of non-profits, governments, and businesses -Develop, fund and implements solutions to social, cultural, or environmental issues -Combination of focus on innovation, risk-taking, and scale transformation with social problem solving and benefits

society

which of the following is not one of truckers seven sources for innovative opportunities

copyright

A _______ provides exclusive rights to creative individuals for the production of their literary or artistic productions.

patent

A _______ provides the owner with exclusive rights to hold, transfer, and license the production and sale of the product or process as an intellect property right.

trademark

A franchise is any arrangement where the owner has licensed others to sell goods or services by which of the following?

social entrepreneurs

A person or small group of individuals who founds or leads and organization or initiative engaged in social entrepreneurship best refers to which of the following?

customer availability

According to the five critical factors for starting new ventures, _______ is a critical consideration for how long it will take to determine who the customers are, as well as their buying habits.

liquidation preferences

All may influence the valuation of venture except?

less available capital

All of the following are advantages of sole proprietorship except:

all of the following are benefits

All of the following are benefits of the business plan for investors except

all of the above are elements of the marketing plan

All of the following are elements of the marketing plan except:

developing an outside board of advisors

All of the following are internal constraints for managing growth except

what experience does the partner doing your deal have and what clout do their have within the firm?

All of the following are questions commercial lenders will ask when attempting to secure a loan except?

all of the above

All of the following are questions you should ask when purchasing an existing venture except: -Why is this business being sold? -What is the state of the company's other assets? -How many employees will remain? -What is the condition of the inventory?

demographics

Marketing segmentation focuses on which of the following variables?

innovation and employment

New ventures are important to the industry in terms of?

competitive analysis

Part of marketing segment of business plan?

speciality

Products or services that consumers make a special effort to find and purchase are _______ goods.

higher product quality

Sometimes customers associate a higher price with

innovation/decline

Stage where firm either continues success or goes into decline is

lean canvas

The _______ a structured tool for entrepreneurs to use to discover and validate a business model.

new-old approach

The _______ approach to creating a new venture involves an adaptation to someone else's idea by either improving a product or offering a service in an area in which it is not currently available.

cash flow statement

The _______ is an analysis of the cash availability.

start-up

The _______ phase commences with the initiation of sales activity and the delivery of products and services, and ends when the business is firmly established and beyond short-term threats to survival.

business plan

The _______ provides a specific and detailed explanation of the ventures, objectives, resources, markets, and operations

days sales outstanding

The average number of days it takes to collect payment?

society

The basic challenge for social enterprise is addressing the obligations of business to

target market customers

The business description of the business plan includes all of the following except?

problem and solution

The difference between lean canvas and business canvas is that lean canvas has?

franchisee

The individual who buys the franchise is the

critical risk

To an entrepreneur one of the benefits of a business plan is that it identifies

setting up a timbale and specific steps

What helps an entrepreneur avoid the pitfalls of not having realistic goals?

premium

When a business venture sells low volume at high margins it is said to sell at a

percent of sales

When projecting financial statements, the _______ method projects selected cost and balance items at the same growth rate as sales.

Asset-based lenders that lend money against assets such as receivables, inventory, and equipment.

Which of the following does not describe equity financing?

length of time needed to determine who the customers are, as well as their buying habits

Which of the following is a critical consideration when assessing customer availability?

entrepreneurs today are considered heroes

Which of the following is not a common myth about entrepreneurs?

all of the above

Which of the following is not a factor contributing to new venture failure? -Failure to pivot -No financing or investor interest -Product mistimed -Pricing issues

specific profit goals

Which of the following is not a pitfall when planning a new venture?

Regular (monthly) interest payments are normally required.

Which of the following is not an advantage of working with a commercial bank?

structured fees

Which of the following is not an advantage to buying a franchise business?

investment contract

Which of the following is not considered collateral?

collaborative

Which of the following is not considered in the new framework of frameworks approach?

Preliminary investigation

Which of the following is not one of the phases in the creative process?

growth stage model

Which of the following pricing models is not indicative of pricing in the social media age?

an innovative approach to achieving collaboration

___ best refers to the relationship arena of creativity

design methodology

____ takes an initial concept idea and develops a proof of concept that elitist feedback from relevant stakeholders.

crowd funding

______ seeks funding for a venture by raising monetary contributions from a large number of people, usually by the internet.

limited liability partnership

_______ allows professionals the tax benefits of a partnership while avoiding personal liability for the malpractice of other partners.

trade secrets

_______ are business processes and information that make an individual company unique and has value to a competitor.

chapter 7

_______ bankruptcy requires the debtor to surrender all property to a trustee appointed by the court.

cost to duplicate

_______ involves calculating how much it would cost to build another company just like the current one.

strategic entrepreneurship

_______ involves engaging in simultaneous opportunity seeking and competitive advantage.

the bankruptcy test

_______ is a federal law that provides for specific procedures for handling insolvent debtors - those who are unable to pay debts as they become due.

financial projection

_______ is a forecast of future revenue and expenses that will account for internal or historic data.

venture capital

_______ is a form of private equity and a true of financing that investors provide to startup companies and small businesses that are believed to have long-term growth potential.

limited liability company

_______ is a hybrid form of business enterprise that offers the limited liability of a corporation but the tax advantages of partnership.

trade credit

_______ is credit given by suppliers who sell goods on account (typically "Net 30" terms).

debt financing

_______ is secured financing of a new venture that involves a payback of the funds plus interest.

capital budget

_______ is the plan for the expenditures lasting beyond 1 year.

market segment

_______ is the process of identifying a specific set of characteristics that differentiate one group of consumers from the rest.

sales forecasting

_______ is the process of projecting future sales through historical sales figures and the application of statistical techniques.

factoring

_______ is the sale of accounts receivable at discounted values.

account receivable financing

_______ is the short-term financing that involves either the pledge of receivables as collateral for a loan or the sale of receivables at a discounted value.

loans with warrants

_______ provide the investors with the right to buy stock at a fixed price at some future date.

the lean start-up methodology

_______ provides an approach to creating early venture concepts and delivers a desired product to customers faster, cheaper, and with less risk.

rewards-based

_______ raises allow startups to provide an item of value in exchange for a capital commitment.

vertical integration

_______ refers to the acquisition of a supply or distributor.

accrual basis accounting

_______ revenue is recognized when sale is done and expense when it is incurred.

social proof

_______ uses evaluations of something based on the actions or in-actions of other people.

Innovative (I) team

a semi-autonomous self-directing, self-managing, high-performing group of 2 or more people who formally create and share the ownership of a new organization refers to which of the following?

market

group of consumers who have purchasing power and unsatisfied needs.

chapter 11

in _______ bankruptcy a debtor attempts to formulate a plan to pay a portion of their debts, have the remaining discharged, and continue to stay in operation.

quick ratio

measures liquidity

the ability to be dynamic, flexible, and self-regulating in ones cognitions given. dynamic and uncertain task environments

the difference between cognitive adaptability and the metacognitive model is that cognitive adaptability is...

the probability or threat of damage, liability, loss, or any other negative occurrence

the difference between risk and risk management is

internal

the micro view of entrepreneurship ip presents factors exhibiting a strong ___ locus of control

identify customers

the purpose of marketing research is to

Compares important financial relationships to other firms in the industry.

All of the following are reasons that ratios are useful except?

all of the above are correct

An issue in evaluating an acquisition is?

career, family, psychological

Areas of risk to the entrepreneur include

trust building

As part of the key distinctions of social media marketing, firms cannot fully control the content users create, which best relates to which of the following?

projected results of new business

Business plan should illustrate?

lack of management depth

Closely held ventures usually suffer from?

due diligence

Conducting through analysis of every facet of an existing business

start-up activities

Creating a formal business plan, searching for capital, and carrying out marketing activities?

strategic mix

Expanding the product line by acquiring firm whose products complement your product line?

strategic planning

Formation of long range plans for effective management in light of strengths and weaknesses is

discounted future earnings

If cash flow is the most important consideration in buying a business?

asset sale

In an _______, the seller retains possession of the legal entity and the buyer purchases individual assets of the company, such as equipment, fixtures, leaseholds, trade secrets, and inventory.

plan for a liquidity event exit strategy

It is important for the entrepreneur to have a harvest strategy segment in a business plan in order to?

financial control

_______ may be constructed as the analysis of the company's actual results from different perspectives.

term sheet

_______ outlines the material terms and conditions of a venture agreement.

a swing stage that precedes the period when the firm swings towards greater profitability

All of the following are characteristics of strategic positions except?

style

All of the following are demographic variables except:

who are the customers likely to be?

All of the following are questions you would ask to determine the competitive advantage of a new venture except:

initial undercapitalization

All of the following are reasons that new ventures fail due to product or market problems except:

new-new

A _______ approach indicated the importance of people's awareness of their daily lives for developing new business ideas.

symbiotic idea

A _______ is the method of idea creation that uses different elements of a combination of ideas to make a whole.