All Pop Quizzes Ent 2113
In a typical Venture Capital Fund structure, the Managment Fee is typically described as "2 and ___."
20
"Family Buisness" is synonymous with "Family Office."
False
The Lean LaunchPad Business Model Canvas is a guaranteed methodology for entrepreneurial success.
False
The Value Proposition in the Business Model Canvas consists of these two elements:
Pain and Solution Statement
Profits =
Revenues minus Expenses
We can learn a great deal by reading about those that have come before us...both positive AND negative.
True
The Four Areas of Focus on the Business Model Canvas for this course are:
Value Proposition, Customer Segments, Channels & Customer Relationships
In this course, we have focused upon the "upper right quadrant" of the Business Model Canvas. The four sections in this quadrant are __________________________________________.
Value Proposition, Customer Segments, Channels, and Customer Relationships
During the semester, we have regularly discussed the DJIA. The "DJIA" stands for the Dow Jones Institutional Average.
false
According to lectures, other sources of capital for the entrepreneur include:
friends and family, angels, self-funding
Customer Relationships as described by the Lean LaunchPad Business Model Canvas methodology can be remembered by the words ________, _________, and _________.
get, keep, grow
The Lean LaunchPad/Business Model Canvas Customer Relationships is best described by "Get, Keep, and ______" your customers.
grow
According to the Lean LaunchPad/Business Model Canvas methodology, the Customer Relationships section can best be described as Get, ________, and Grow your customers.
keep
The Value Proposition consists of the _______ Statements.
pain and solution
Failure in entrepreneurship is always seen as a negative.
false
It is quite easy for new ventures to secure debt financing. Therefore, many early stage companies use debt as their primary financing mechanism.
false
Most Venture Capital funds are structured as a Limited Partnership with a 20 year life.
false
Professor Bolen has regularly stated that entrepreneurship is an "easier" path than traditional employment.
false
According to the Lean LaunchPad/Business Model Canvas methodology, the Value Proposition by an entrepreneurial venture includes the Pain Statement and the _________ Statement.
solution
According to lectures, Venture Capital is simply one of several locations for an entrepreneur to seek capital.
true
Crowdfunding has now become, in a limited way, a mechanism for an entrepreneur to raise capital for their entity...not simply their project.
true
Entity Selection will impact the choices for financing that the entrepreneur can pursue.
true
Failure is whatever the entrepreneur believes is failure.
true
The Lean LaunchPad Business Model Canvas is Professor Bolen's preferred tool for entrepreneurs.
true
The Business Model Canvas provides the only framework from which an entrepreneur can structure a launch.
false
The Initial Public Offering or "IPO" of a corporation is a fairly straightforward mechanism requiring little outside assistance for the entrepreneur.
false
The Lean LaunchPad/Business Model Canvas methodology guaranties success for any entrepreneur that deploys it.
false
The Sole Proprietorship is the most complicated of business entities.
false
The legal entity that provides the greatest ease in raising third party capital is the Sole Proprietorship.
false
Under the Lean LaunchPad Business Model Canvas methodology, the three words that best describe Customer Relationships are: Get, Keep & Extend.
false
Utilizing the Value Proposition limits the entrepreneur in her ability to craft solutions.
false
The Income Statement is one of the Financial Statements that also include...
Balance Sheet and Cashflow Statement
The Guest Lecturer on Social Entrepreneurship was _____________.
Dr. Stella Seyb
All entrepreneurial ventures are high tech/high growth.
False
Brand/Status does not contribute value as defined by the Buisness Model Canvas.
False
According to Dr. Tom Lumpkin, "Being Entrepreneurial" includes _______
Innovativeness, Proactiveness, Autonomy, Risk Taking, and Competitive
Among the business entities discussed in this course, the one that offers the most flexibility for the entrepreneur is the ________________.
Limited Partnership
Entrepreneurship involves the intersection of at least two separate disciplines.
True
The Business Plan, the Venture Concept Statement and the Buisness Model Canvas are the three tools for entrepreneurs discussed in this course.
true
The two issues that are of most importance when choosing a business entity are liability and taxation.
true
Entrepreneurship is a guaranteed path to economic success.
False
The Income Statement includes the each of the following:
Revenues, Expenses & Profits
The US regulatory body that oversees the sale of a corporation's shares is the _______________.
SEC
