5.7 Review Questions

  1. According to Ash Maurya’s typology, Airbnb is an example of what type of business model?
    1. direct
    2. multisided
    3. open
    4. marketplace

 

  1. Which startup grew from a failed podcasting company called Odeo?
    1. Instagram
    2. Twitter
    3. StubHub
    4. Groupon

 

  1. What is the job to be done of a milkshake according to Christensen’s team’s customer observation research in the Link to Learning video: https://www.youtube.com/watch?v=m3mVM_koAio&feature=youtu.be?
    1. employ Chick-Fil-A cows
    2. accompany on a long morning commute
    3. placate children
    4. satisfy hunger

 

  1. What is a change, typically minor, of the current business model in an attempt to capitalize on a closely related market opportunity?
    1. innovation
    2. disruption
    3. iteration
    4. increment

 

  1. A tool to identify your idealized target customer and develop a better understanding of their environment, behavior, concerns, and aspirations.
    1. jobs to be done
    2. business plan
    3. business model canvas
    4. empathy map

 

  1. A ________ is a formal document that typically describes the business and industry, market strategies, sales potential, and competitive analysis, as well as the company’s long-term goals and objectives.
    1. business plan
    2. business model
    3. customer empathy map
    4. revenue model

 

  1. Select the item that does not belong to the business model canvas.
    1. market size
    2. revenue streams
    3. value proposition
    4. customer segments

 

  1. The finished story benefit formula of [end customer wants] + [specific period of time] + [address objections] is designed for what component of the lean model canvas?
    1. unfair advantage
    2. unique value proposition
    3. early adopters
    4. high concept pitch

 

  1. How does the social business model canvas differ from the business model canvas and lean model canvas?
    1. is only used by nonprofit company
    2. doesn’t have customer block and investment bloc
    3. has profit block to talk about ways the company can makes more money
    4. has impact measure, surplus, beneficiary segments, and social and customer value proposition

 

  1. Which of the following has the purpose of evaluating the team, the market for the concept, the financial viability, and possible pitfalls?
    1. feasibility analysis
    2. market analysis
    3. financial analysis
    4. management analysis

 

  1. Which of the following has the purpose of forecasting revenue and expenses, projecting a financial narrative, estimating project cost, and projecting cash flow?
    1. feasibility analysis
    2. market analysis
    3. financial analysis
    4. management analysis

 

  1. Which of the following identifies competitors and quantifies target customers and/or users in a specific industry?
    1. feasibility analysis
    2. market analysis
    3. financial analysis
    4. management analysis

 

  1. What assesses the prowess of the management and sufficiency of resources to bring the product or idea to market?
    1. management analysis
    2. operational feasibility analysis
    3. financial analysis
    4. cash flow

 

  1. What are expenses that do not vary with the level of sales, such as rent, salaries, utilities, insurance and other operating expenses?
    1. fixed costs
    2. variable costs
    3. balance sheet
    4. cash flow statements

 

  1.  Which of the following is a formal document that typically describes the business and industry, market strategies, sales potential, and competitive analysis, as well as the company’s long-term goals and objectives?
    1. business plan
    2. business model
    3. customer empathy map
    4. revenue model

 

  1. Which of these is not the purpose of a business plan?
    1. thoroughly explain a business idea and how it will be carried out
    2. planning tool and working plan over the course of several years
    3. requirement to start a business
    4. planning for “what-if” scenarios and explore new options

 

  1. Which of these components are not in a business plan?
    1. business description
    2. industry and market analysis
    3. financial analysis
    4. None of these options is correct.

 

  1. Estimated profits and expenses of the business is included in which of the following?
    1. financial analysis
    2.  industry and market analysis
    3. operation plan
    4. marketing plan

 

  1. Who is best suited to write a business plan?
    1. investor
    2. founder(s)
    3. consultant
    4. chief financial officer

License

Icon for the Creative Commons Attribution 4.0 International License

NSCC Foundations of Entrepreneurship Copyright © 2022 by OpenStax is licensed under a Creative Commons Attribution 4.0 International License, except where otherwise noted.

Share This Book