Business Leadership Exam
Download The Solution Here
An attractive industry is all of the following except:
|young rather than old|
|growing instead of shrinking|
|late in the life cycle|
An entrepreneur is someone who:
|wants to be their own boss|
|all the above|
Entrepreneurs are said to identify this type of gap in the marketplace:
Of the 12 most important slides to include in the investor presentation of the business plan, which slide is not recommended?
|problem and solution|
Organizational feasibility does not involve:
|at least 2 major competitors|
Spending the time and resources necessary to move forward with the business idea depends on the:
The ________________ is a written narrative, typically 25-35 pages, that describes what a new business intends to accomplish and how it intends to accomplish it.
|request for funding|
The concept test occurs in which type of feasibility analysis?
The feasibility analysis determines if a business idea is:
The pro forma financial statements included in a business plan are:
This is a favorable set of circumstances that creates a need for a new product, service or business.
This is a thought, an impression, or a notion.
This is not one of the environmental areas that is helpful to evaluate when determining areas that are ripe for new business ideas.
|political and regulatory changes|
This is not one of the ways the book recommends to identify opportunities.
|create and distribute surveys|
|solving a problem|
|findings gaps in the marketplace|
This is one way to encourage the development of new ideas in business.
|establishing a focal point for ideas|
This item comes first in the business plan.
This item is not included in the financial feasibility analysis.
|total start-up cash needed|
|financial performance of similar businesses|
|overall financial attractiveness of the proposed venture|
This step comes last in the process to generate creative ideas.
To make the best impression, the business plan should follow a(n) ____________________ structure.
A low budget approach to marketing with unusual tactics is called:
Adverse selection is when:
|it is difficult to find employees with the right skills with the right management|
|it is difficult to perform background checks on all employees|
|it is hard to keep employees from being hired by competitors|
|is it hard to keep employees from leaving the firm|
Assets, liabilities and owners equity are included in the:
|statement of cash flows|
What is the engine of growth in the U.S. economy?
|medium sized businesses|
Which statement applies to aspiring or potential entrepreneurs?
|pay a consultant to monitor your business for the first year|
|be sure you have covered every possibility in your business plan before you open the business|
|don’t open your business until you are 100% sure it will succeed|
|find a nice in the market and fill it|
Entrepreneurs must continually:
|monitor the competition|
|monitor the external environment|
|monitor the industry|
|all of the above|
What is the best age to start a business?
|in your 20s|
|any age is a good age to start a business|
|none of the above|
Which group has become more active in the past 10 years?
The business mission and vision should include some comments about the business’s:
|ethics and corporate social responsibility|
|employee education levels|