entreprenneurship

According to GEM about ___ percent of adults start a business or exsisting more than 3 and a half years

11.9%

your friend wants to make money

500

in various studies, researchers have found that from ____ precent of the variation in firm profitability

8-20

number one characteristic shared by entrepreneurs is

a passion for the bussiness

whats NOT one of the five primary reasons passion is important to launch a business

ability to stick to a plan even when faced with evidence change needs to be made

which of the following firms has a peer to peer business model

airbnb

statements regarding survival rates of entrepreneurial forms in the united states is correct

as high as 50 percent after four years

opportunity has the following four essential qualitites

attractive, timely, durable, anchored in a product, service, business that creates value for the buyer

three primary reasons people become entrepreneurs are to

be their own boss, peruse own ideas, and pursue financial rewards

which of the following is NOT an example of social force

changes in interest rates

which of the following is NOT one of the four major categories in the Barringer/Ireland business model template

channels

Tyler Smith founded a firm that has a subscription-based business model. Although Tyler has averaged 600 new subscribers per month, she also loses 450 subscribers per month. The number of subscribers that Tyler loses each month is referred to as ________.

churn

Once a firm decides to enter an industry and chooses a market in which to​ compete, it must gain an understanding of its​ _____ environment.

competitor

Mark white

core competency

the resources sectiuon of the barringer/ireland business model template consists of the ____

core competency, key assets

Barringer/Ireland Business Model Template _____ describes howfirms want to compete against competitors

core strategy

Shelly Brunner owns a sports-themed restaurant which is located in an upscale business district in Chicago. One advantage that Shelly has is that she bought the lot she built her restaurant on 25 years ago when lots in the area were selling for $50,000. Shelly knows that several potential competitors have looked at bare lots near his business but haven't been willing to pay the asking prices, which are as high as $500,000. Which of the six major sources of barriers to entry is causing a disincentive for new firms to enter Shelly's industry?

cost advantage independent of size

cirque de soleil in circuses are examples of entrepreneurial firms who are exploiting new opportunities in _____ industries

declaring

Kelly Pryor, who has launched several successful entrepreneurial firms, seems to have a "sixth sense" that allows him to see opportunities that others miss. Kelly's ability is referred to as _________.

entrepreneurial alertness

we can accuratly conclude that google has a high level of

entreprenuerial integrity

Alex and Patty Webb launched a firm several years ago and have been particularly successful in introducing new products to the marketplace. One thing that Alex and Patty are particularly good at is translating their thoughts, creativity, and imaginations into products that reach the marketplace. The ability to make this happen is most closely related to which of the following characteristics of successful entrepreneurs?

execution intelligence

is the process of determining whether a business idea is viable

feasibility analysis

clothing botiques the best way to decribe how that idea was recongnized is

finding a gap in the marketplace

the template for completing a feasibility analysis included appendix 3.2 of the book is called the ____ analysis

first screens

_____ costs are costs that remain the same despite the volume of goods

fixed, variable

which of the followinng factors is a negative as it pertains to the financial feasibility of a business venture

inability to forecast income and expenses witha reasonable degree of accuracy

an ____ is a group of firms producing similar products

industry

an _____ is a group of firms producing a similar product or service. a firms ____ is the limited portion of the industry that it goes after

industry, target market

the most important issues to consider in financial feasibility analysis are ___

inital startup cash, financial performance, overall financial expertise

generally, industries are more effective when the threat of substitutes is _____

low

a businesses _____ statement describes why it exsits and what its business model is supposed to accomplish

mission

three ways to identify an opportunity include

observing trends, solving a problem, and finding gaps in the marketplace

an ___ ia a favorable set of circumastances/ a ___ is a thought

oppourtunity and idea

____ feasibility analysis is conducted to determine whether a processed business has sufficient management expertise

orginizational

Barringer/Ireland Business Model Templatekey assets are most commonly of which four types

physical,financial,humans

characteristics of successful entreprenuers are

position for the business, despite failure, product cutomer focus, conlusion intelligence

Talking to industry experts, obtaining feedback from prospective customers, and administering surveys are examples of ________ research.

primary

____ reaserch is research that is collected through interviews by the person or persons completing the analysis

primary, secoindary

these are the types of questions aked during the ____ feasibility comment of a complete feasibility analysis

product/service

Sarah green

product/service production

according to the textbook, the five competitors forces included in the five forces model determines the avergage _____

profitabiloity for the firms in an industry

The term "window of opportunity," as discussed in Chapter 2, is a metaphor that describes the time period in which a firm can ________.

realistically enter a market

which of the following is NOT one of the four areas of feasibility analysis discussed in the textbook

regulatory feasibility

the financial sections of the barringer/ ireland

revenue streams, cost structure, financing/funding

which of porters five forcers is most directly influenced by the number and balance of competitors

rivalry among existing firms

trade journals, industry-related publications, government statistics, and competitors, web sites are examples of

secondary

which of the following is incorrect regarding the personal characteristics of entrepreneurs

several studies allow that prior experience in an industry actually binds an entrepreneur to the recognition of new opportunities in the same industry

industries that sell products too seniors

social

the two general categories of business modeals are ___ and ___

standard, disruptive

please order the proper sequence for launchinga business

step 1: opportunity recognition step 2:feasibility analysis step 3: prepare business model step 4: flesh out additional details

relationships are hcaracterized by frequent interactions htat form between coworkers, friends, and spouses

strong tie

according to the textbook, the only way to know if your product or service is what people want and need is by ____

talking to them

A firm's ________ market is a place within a larger market segment that represents a narrower group of customers with similar interests.

target

Hulu.com allows people to watch television shows and movies on the Internet. Hulu.com's business opportunity was made possible by ________ that enhanced the ability of television shows and movies to be uploaded to the Internet and played by anyone with a suitable computer and an Internet connection.

technological advances

the four main characteristics of successful entrepreneurs are passion for the business, execution intelligence, product/customer focus, and tenacity despite failure

true

its more likely an entrepreneur will get a new business idea through

work