Business Questions… HELP

QUESTION 1

  Which of the
following entrepreneurs was one of the pioneers of the biotechnology industry?

	Robert Noyce, Tim Nerners-Lee George Gendron Robert Swanson

QUESTION 2

  Jim Clark, an IT
entrepreneur, became the first Internet billionaire because of his investment
in what company?

		Yahoo! Inc.
		Netscape Communications
		Google Inc.
		Microsoft Corp.

QUESTION 3

  In general, the most important
source of capital for a new entrepreneurial venture is which of the following?

		Informal investors
		Venture Capital
		Banks
		Profits from the venture

QUESTION 4

  What is the most
successful US airline?



	United Airlines, Delta,  Continental Southwest

QUESTION 5

  The highest average
TEA rates are found in?



		Middle East & North Africa
		European Union
		sub-Saharan Africa and Latin America/Caribbean
		Asia Pacific/South Asia

QUESTION 6

  According to your
textbook, into why type of opportunity should a business idea translate?



	Realistic   Easy to implement
	Attractive
	Technologically advanced

QUESTION 7

  What does moving a
seed of an idea to a more concrete possibility require?



	Practical thinking
	Market research   Input from others
	A business plan

QUESTION 8

  Which of the
following most typified a “cocktail entrepreneur”?



	Fails to take action
	Popular   Productive   Decisive

QUESTION 9

  Which of the
following is not a part of IDEO’s product design steps?



		Optimize practicality
		Multiply stimuli Gather stimuli Create stimuli

QUESTION 10

  What is the only
action that the “gather stimuli” stage requires of the entrepreneur?



	·  Ask ·  Think ·  Do Nothing ·  Observe

QUESTION 11

  An important
technique in brainstorming is to say:



		“Yes and…”
		“Yes, but…”
		“That won’t work because…”
		“Nice!”

QUESTION 12

  What is the name of
the process that is the equivalent of brainstorming, but with a focus on
writing rather than verbal communication?



		Paper-writing
		Brain-writing
		Mute-storming
		Paper-storming

QUESTION 13

  In which stage is it
important to play devil’s advocate?



		Optimize practicality
		Multiply stimuli
		Gather stimuli
		Create stimuli

QUESTION 14

  On what category of
customers should a startup business focus most of its attention?



		STA
		PTA
		TTA
		An even share of STA, PTA, and TTA

QUESTION 15

  An understanding of
your STA helps you to:



		Train your employees
		Find better management
		Develop a penetration strategy
		Make better growth decisions

 

QUESTION 16

  When analyzing an
opportunity which trends should you focus on?



		Present Micro trends & Current Macro trends
		Historical micro trends
		None of the above
		None of the above

  QUESTION 17

  Which of the
following is not a venture stage specifically enumerated in the chapter?



		Investigation
		Launch
		Growth
		Operations

 

QUESTION 18

  What is the
approximate number of baby boomers in the US?



		55 – 60 million
		60 – 65 million
		70 – 75 million
		75 – 80 million

 

QUESTION 19

  According to the
textbook, people of Hispanic descent will comprise 25 % of the US population by
what year?



		2020 2030
		2035
		2040

 

QUESTION 20

  To replace $70,000 of
forgone salary and benefits, an entrepreneur will need the new venture to
generate approximately how much in annual revenue?



		$70,000
		$200,000
		$400,000
		$600,000

 

QUESTION 21

  The graphical
depiction that highlights the diffusion of product acceptance over time is:



		S-Curve
		C-Curve
		U-Curve
		V-Curve

 

QUESTION 22

  When starting a web
business, which measure of effectiveness matters most?



		The number of “eyeballs” looking at your site
		Profits
		Click thru rates
		Overhead expenses

 

QUESTION 23

  Generally speaking,
what is the lowest level of total revenue in which a market becomes attractive
for new entrants?



		$15 million
		$20 million
		$25 million
		$30 million

 

QUESTION 24

  What is an example of
a relatively inelastic product?



		Burgers
		Train tickets
		Gasoline
		DVD Discs

QUESTION 25

  What is the
short-sighted thinking behind the penetration-pricing strategy?



		Pricing below competitors will lead to higher market share
		Gross margins should be very high for a new product
		Loyal customers demand the lowest price
		The simplest method of selective prices saves time