ENT 2113 Final

In a typical Venture Capital Fund structure, the Managment Fee is typically described as "2 and ___."

20

The Income Statement is one of the Financial Statements that also include...

Balance Sheet and Cashflow Statement

T/F "Family Business" is synonymous with "Family Office."

False

T/F According to lectures, the phrase "2 & 20" refers to the entrepreneur's analysis of foreign vs domestic markets.

False

T/F All entrepreneurial ventures are high tech/high growth.

False

T/F Brand/Status does not contribute value as defined by the Business Model Canvas.

False

T/F Entrepreneurship is a guaranteed path to economic success

False

T/F Failure in entrepreneurship is always seen as a negative.

False

T/F It is quite easy for new ventures to secure debt financing. Therefore, many early stage companies use debt as their primary financing mechanism.

False

T/F Most Venture Capital funds are structured as a Limited Partnership with a 20 year life.

False

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 Lean LaunchPad/Business Model Canvas consists of ___ boxes in its graphical representation.

9

All of the below are examples of legal entities discussed in this course except _____________.

D Corporation

The Guest Lecturer on Social Entrepreneurship was _____________.

Dr. Stella Seyb

T/F Professor Bolen has regularly stated that entrepreneurship is an "easier" path than traditional employment.

False

T/F The Business Model Canvas provides the only framework from which an entrepreneur can structure a launch.

False

T/F The Initial Public Offering or "IPO" of a corporation is a fairly straightforward mechanism requiring little outside assistance for the entrepreneur.

False

T/F The Lean LaunchPad Business Model Canvas is a guaranteed methodology for entrepreneurial success.

False

T/F The Lean LaunchPad/Business Model Canvas methodology guaranties success for any entrepreneur that deploys it.

False

T/F The Sole Proprietorship is the most complicated of business entities.

False

T/F The legal entity that provides the greatest ease in raising third party capital is the sole proprietorship.

False

T/F Utilizing the Value Proposition limits the entrepreneur in her ability to craft solutions.

False

T/F During the semester, we have regularly discussed the DJIA. The "DJIA" stands for the Dow Jones Institutional Average.

False (Dow Jones Industrial Average)

According to lectures, other sources of capital for the entrepreneur include:

Friends & Family, Angels, and 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

Potential buyers of the entrepreneur's solution are described in the BMC as _________________.

Key partners

The Value Proposition in the Business Model Canvas consists of these two elements:

Pain Statement and Solution Statement

The Value Proposition consists of the _______ Statements.

Pain and Solution

Profits =

Revenues minus Expenses

The Income Statement includes each of the following:

Revenues, Expenses & Profits

The US regulatory body that oversees the sale of a corporation's shares is the _______________.

SEC

Among the business entities discussed in this course, the one that offers the most flexibility for the entrepreneur is the ________________.

Sole proprietorship

According to the Lean LaunchPad/Business Model Canvas methodology, the Value Proposition by an entrepreneurial venture includes the Pain Statement and the _________ Statement.

Solution

T/F According to lectures, Venture Capital is simply one of several locations for an entrepreneur to seek capital.

True

T/F Crowdfunding has now become, in a limited way, a mechanism for an entrepreneur to raise capital for their entity...not simply their project.

True

T/F Entity Selection will impact the choices for financing that the entrepreneur can pursue.

True

T/F Entrepreneurship involves the intersection of at least two separate disciplines.

True

T/F The Business Plan, the Venture Concept Statement and the Business Model Canvas are the three tools for entrepreneurs discussed in this course.

True

T/F The Lean LaunchPad Business Model Canvas is Professor Bolen's preferred tool for entrepreneurs.

True

T/F The two issues that are of most importance when choosing a business entity are liability and taxation.

True

T/F 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