Multiple answers
Business Planning
Business Models and Ethics
Chapter 7 (Mostly!)
Chapter 8 (Mainly!)
100
Passion for the business, tenacity despite failure, product/customer focus, execution intelligence
What are the four characteristics of successful entrepreneurs?
100
Product/service feasibility, financial feasibility, organizational feasibility, and industry market feasibility.
What are the four areas of feasibility analysis?
100
A complete misread of the customer, and utterly unsound economics.
What are two fatal flaws that can render a business model untenable from the beginning?
100
An agreement that binds an employee or another party to not disclose a company's trade secret.
What is a non-disclosure agreement?
100
Money owed to a company by its customers.
What are accounts receivable?
200
To be their own boss, pursue their own ideas, and realize financial rewards.
What are the three primary reasons that people become entrepreneurs and start their own business?
200
To develop a "road map" to follow, and as an introduction to potential investors and stakeholders.
What are the two main purposes of writing a business plan?
200
Core strategy, strategic resources, partnership network, and customer interface.
What are the four components of a firm's business model?
200
An agreement that prevents an individual from competing against a former employer for a specified period of time.
What is a non-compete agreement?
200
A written report that quantitatively describes a firm's financial health.
What is a financial statement?
300
Attractive, timely, durable, and anchored in a product, service, or business that creates or adds value for its buyer or end user.
What are the four essential qualities of an opportunity?
300
Current assets divided by current debt.
What is a the current ratio?
300
The single most important thing the founders of an entrepreneurial venture can do.
What is establishing a strong ethical culture for their firms?
300
Unlimited liability.
What is a disadvantage of a sole proprietorship?
300
A report that reflects the results of its operations over a specified period and shows whether it is making a profit or is experiencing a loss.
What is an income statement?
400
Observing trends, solving a problem, and finding gaps in the marketplace.
What are the three ways to identify an opportunity?
400
Investors and other external stakeholders, and a firm's employees.
What are the two primary audiences for a business plan?
400
A formal statement of an organization's values on certain ethical and social issues.
What is a code of conduct?
400
Stability, efficiency, liquidity, and profitability.
What are the four main financial objectives of a firm?
400
A snapshot of a company's assets, liabilities, and owner's equity at a specific point in time.
What is a balance sheet?
500
Opportunity recognition, feasibility analysis, and development of a business plan.
What are the proper sequence of events in developing a successful business idea?
500
Bargaining power of suppliers, rivalry among existing firms, threat of new entrants, bargaining power of buyers, and threat of substitutes.
What are Porter's five competitive forces that determine industry profitability?
500
A situation that involves doing something that is beneficial to oneself or the organization but may be unethical.
What is an ethical dilemma?
500
The ability of a company to meet its short-term financial obligations.
What is liquidity?
500
Cash, items readily convertible to cash, and inventories.
What are current assets?
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