Deck 2: Starting a New Venture

Question 1

Approximately what percentage of venture-backed start-ups succeed?

A) 5 percent
B) 25 percent
C) 50 percent
D) 75 percent
E) 100 percent

Answer 1

B

Question 2

Successful business models .

A) must be completely innovative
B) must be led by someone who has never failed before
C) must focus only on financial criteria and not be distracted by any other factor(s)
D) are often variations on the generic value chain
E) are unpredictable and cannot be generalized

Answer 2

D

Question 3

Which of the following is not an important factor when analyzing a business model?

A) Position in the value creation chain
B) Business development
C) Sustainability
D) Regulation
E) Being the first in the market

Answer 3

E

Question 4

What is a potential downside of the lean start-up approach?

A) Higher development costs
B) Higher marketing costs
C) Longer development cycle
D) Competitors stealing your ideas
E) All of the above are potential downsides

Question 5

What are some factors you should consider when choosing an online platform?

A) Ease of use
B) Help and support
C) Scalability
D) Security
E) All of the above

Question 6

What are the challenge(s) of an online start-up?

A) A lot of competition
B) Entry is easy
C) Inexpensive to set up
D) Minimum inventory
E) Need to know technology

Question 7

What is social entrepreneruship?

A) Innovative not-for-profit ventures
B) Social purpose for-profit business ventures
C) Certified B Cop
D) Hybrid organizations with both for-profit and not-for-profit elements
E) All of the above

Question 8

Which of the following is(are) not a challenge(s) when trying to identify what your customers value?

A) The end user may not be the decision maker
B) The definition of the target customer is too broad
C) Industry trade groups are hard to get into
D) Market surveys and first-person interviews are expensive
E) All of the above are challenges

Question 9

In the 2010 GlobeScan poll, what percentage of Americans said they believe in the free market system?

A) 10 percent
B) 20 percent
C) 50 percent
D) 80 percent
E) 90 percent

Question 10

What are some reasons why social entrepreneurship is worthwhile?

A) It is what today's consumers want.
B) It keeps the entrepreneur motivated.
C) It connects people to their life purpose.
D) It brings happiness to the entrepreneur.
E) All of the above