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Exam 4: Conducting a Feasibility Analysis and Designing a Business Model

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Question 41

Multiple Choice

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Industry databases are a good source of ________ research.

A) secondary
B) primary
C) windshield
D) tertiary

E) A) and B)
F) C) and D)

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Question 42

Multiple Choice

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Many new businesses require that an entrepreneur have a certain set of knowledge, experiences, and skills to have any chance of success. This is called entrepreneurial ________.

A) grit
B) trait
C) readiness
D) chutzpah

E) B) and D)
F) A) and B)

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Question 43

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________ is the number of months the business can survive at its current rate of negative cash flow.

Testing with prototypes is known as beta tests.

The Internet is an example of a ________ force.

The business plan helps an entrepreneur assess ideas in a relatively short period of time.

Prototypes usually point out potential problems in a product's ________.

The process of determining whether an entrepreneur's idea is a viable foundation for creating a successful business is known as a ________.

What are the parameters used in an idea sketch pad?

Generally, an industry is less attractive when the number of buyers in the industry is large.

Driving around and observing competition is called "windshield" research.

What are some of the most important questions a feasibility analysis answers and what model may be of value in this process?

When bargaining power of buyers is ________, the industry is ________ attractive.

A(n) ________ trial involves sending researchers into customers' homes to observe them as they use the company's product or service.

Generation Y and Generation Z are examples of ________ changes.

Low capital requirements, cost advantages that are not related to company size, and the lack of brand loyalty are considerations regarding the ________.

An idea assessment is the process of examining a need in the market, developing a solution for that need, and determining the entrepreneur's ability to successfully turn that idea into a business.

Time out of cash is relevant to ________ analysis.

Generally, an industry is more attractive when companies in the industry have ________ switching costs to go from one supplier to another.

"Windshield" research is an example of ________ research.