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Semester Exam Part 2
Game Code: 1328165
English
21
Public
ESB Semester Exam questions
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Disadvantage/disadvantages of debt financing?
Owners have to guarantee the debt and pay it back
10
What describes how a business idea solves customer's problems in a new and better way?
Value proposition
10
For data that you collect, which type comes from sources that used your product?
Primary data
10
For data that you collect, which type comes from journals or newsletters?
Secondary data
10
What are 3 characteristics of the entrepreneurial spirit?
Choose from- Self-reliance, flexible, forward-thinking, resilience, tolerate risks, growth mindsets, critical thinking creative, innovative, collaborative
10
Why would a company choose a fulfillment center for distribution rather than a direct distribution channel?
Inventory control and lower cost
10
What information is on an income statement?
Revenue, expenses, profit
10
If you use a focus group, what stage of the development process are you in?
Product development
10
When you build a product how will you decide on performance criteria for the product?
Testing an interactive prototype
10
Correct order of the sales process is:
prospecting, preparation, approach, presentation, objection, closing, and follow-up
20
Stages in business life cycle
existence, survival, success, take-off, resource maturity, pivot or persist, and exit plan
20
Steps for finding product/market fit
Idea, prototype, launch, traction, monetization, growth
20
The design thinking process in order
empathize, define, ideate, prototype, test
20
The person in a company who creates budgets and financial strategies is the:
CFO
5
The person with the business who finds and invests resources to form the company
Founder
5
The top employee in the company, who also reports to the board of directors
CEO
5
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