entreprenuership final :)
Transactional, Personal Assistance, Switching costs, self-service are all examples of:
Customer Relationship
Mass Market, Niche Market, Behavioral, High-Net Worth are all part of:
Customer Segmentation
Which of the following is NOT part of the Business Model Canvas?
Customer Support
The most important tasks a company must carry out in order to fulfill its business purpose are called:
Key Activities
A Joint-Venture is one type of:
Key Partnerships
For a hotel chain that relies heavily on its employees to generate revenue, customers service is one of its:
Key Resources
All natural resources that are used to produce goods and services are called
Land
The 4 factors in production are:
Land, Labor, Capital, Entrepreneurship
The four products of production are:
Land, Labor, capital, entrepreneurship
What is the main a concern of the business model?
Meet customers' needs
One of the following activities is NOT be part of Revenue Streams:
Negotiation
Which factors will not cause a shift in supply (Decrease or Increase)?
None of the above
A scarce good is:
One for which the choice of one alternative requires that another be given up
Companies need partnerships because:
Partnerships can help save money and grow while reducing risk.
One of the following is NOT a Factor of Production
Patent
Labor is:
People that get paid to work
The three ways to segment a market are, EXCEPT:
Physical
What happens with the PRICE when the quantity supplied exceeds the quantity demanded?
Price tends to fall
Hobbies are part of:
Psychographic segmentation
For any business, the Key Performance Indicator (KPI) is:
Revenue Stream
Scanning your items and paying for them at the machine in the department store is an example of:
Revenue Stream
When you lease your business license to individuals and other businesses you are creating a:
Revenue Stream
Transaction-based and Recurring incomes are the types of:
Revenue Streams
One of the following is NOT part Revenue Streams:
Robotization
What are the 3 central ideas to economics?
Scarcity, Choice, Cost
Which of the following statements is FALSE about Value Proposition?
Selling your product is more important than Value Proposition
The condition that exists when quantity demanded exceeds quantity supplied at the current price is called:
Shortage
Which of the following is a characteristic of a job customers want to do in the value proposition?
Social
Who is an entrepreneur?
Someone who creates a new business while enjoying the risk and reward
The following are the types of Market Segmentation, EXCEPT:
Spectrographic
Which of the following is a quality of an entrepreneur?
The ability to take risks
Which of the following statements is NOT true about the laws of Supply and Demand?
The demand is greater when the price is higher
The Job-To-Be-Done is all the following, EXCEPT:
The job the product or service is designed to do for customers
Which factors will cause a shift in demand (Decrease or Increase)
customer expectation & income (A&C)
The Lean Startup provides an analytical approach to creating and managing startups and get desired product to customers hands faster.
false
A value proposition creates a strong first impression
true
Each customer segment will have different needs.
true
A business Model is concerned with the following, EXCEPT:
Create a great investment opportunity
What are customer relationships?
A strategy on how to get, keep, and grow your customer segments
Which of the following can help you assess the scalability of your business?
All of the above
Tp manage the risks that come with partnerships you should:
All the above
One the following statements about Entrepreneurship is FALSE:
An entrepreneur manages other people businesses
Which of the following is NOT a customer relationship method?
Automated
As key activity, technology key activity can:
Be leveraged to provide value added for customers.
When a business divides its market based on how customers buy, this is called:
Behavioral segmentation
All companies are concerned with:
Both how to make money and how to spend money
An online store where you can sell your products is an example of:
Channels of Distribution
When competitors become partners, this is called:
Co-opetition
Using low price value proposition, maximum automation, and extensive outsourcing are examples of:
Cost Driven business
Which of the following is NOT a element of Value Proposition?
Cost of product
Which of the following is NOT a step in the Lean Start-up method?
Create a Customer Relationship
One of the following is a benefit of Direct Channels
Keep costs down
The most important task to be accomplished during Customer Discovery is:
Defining the market
When a business sells its product to customers and skips wholesalers and retailers, it uses a:
Direct Distribution Channel
The two types of distribution channels are:
Direct and Indirect
Customer Segment is:
Dividing customers into groups with different needs and characteristics
When you reduce the costs by producing of the same goods or services you are doing:
Economies of Scale
When a company cut the cost by producing different products or services, this is called:
Economies of Scope
For a Pizza restaurant, getting Pizza in the hands of customer is part of its:
Key Activities
Which of the following is NOT an entrepreneur's role in the economy?
Entrepreneurs are popular figures
Using the other factors of production to provide goods and services to consumers is called:
Entrepreneurship
Key Activities should expand to what is necessary to achieve the Value Proposition
False
Which of the following are the CORRECT Economic Indicators?
Gross domestic product (GDP), Retail sales, Industrial production, Em- ployment Data, Consumer Price Index (CPI)
As an entrepreneur, you will assume different jobs at your company. As such, you are part of:
Human Resources
The Lean Start-up process includes:
Idea, Minimum Viable Product , Listening to customers
One of the following is NOT a concern when designing your value proposition?
Identify your supplier's main problem
Which of the following is NOT a benefit of a Key Partnership?
Increased Measure in Complexity
Intensive and Selective distribution are part of:
Indirect Distribution
One of the following is NOT part of the Business Cycle Phases:
Inflation
Customer Relationship is important because
It builds trust with customers
Which of the following is true when selecting your Key Partnerships?
They fit into your value proposition
Your company's logo is protected by:
Trademark
Coca-Cola products and Brand are protected by:
Trademarks and Trade Secret
The two types of Revenue Streams are:
Transaction-based and Recurring
A revenue stream is a critical part of the business model that influences strategy, business planning and investment.
True
Customer relationships impact your brand reputation and protentional
True
It costs more to get a new customer than it does to keep one
True
During economic contraction, all the following happen, EXCEPT:
Unemployment decreases
Delivering high quality services at low price is an example of:
Value Proposition
A cost structure that maximizes benefit for customers is:
Value driven
Paying for shipping cost is an example of:
Variable cost
What is the Equilibrium?
When supply and demand are balanced/equal
Indirect Channels comes with the following benefit
Wide range of customers to sell to
the condition of having to choose among alternatives
scarcity