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chapter quizes for ch 9,10,11,12

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Question
Answer
_____ is the group of founders, key employees, and advisers that move a venture from an idea to a fully functioning firm.   show
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Attending entrepreneurship-focused workshops, speaker series, and entrepreneurship boot camps is a way to overcome what is referred to as the ________.   show
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show homogenous  
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What is MOST suggested as a consistent predictor of future entrepreneurial performance?   show
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What is NOT a formal responsibility of a board of directors?   show
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show signaling  
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_____ is a panel of experts who are asked by a firm's managers to provide counsel and advice on an ongoing basis.   show
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show a firm should ask their advisors to spread, anonymously, as many positive comments as possible about its products on blogs, and Internet chat rooms and message forums.  
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The following are ways investors and lenders add value to an entrepreneurial venture EXCEPT:   show
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show SCORE  
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T/F Studies show that the majority of new ventures are started by more than one individual.   show
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show False  
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T/F The Chief Executive Officer (CEO) of a new venture always is chosen from among the firm's founders.   show
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show True  
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show False  
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T/F Because the board members of large firms are more likely to be well-compensated executives of other firms, large firms do not typically pay their board members.   show
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T/F If a firm has a board of directors (because it is a corporation), it will not have an advisory board.   show
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show True  
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show False  
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T/F Expert advice to new ventures from consultants can be obtained for free or reduced rates from nonprofit agencies.   show
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show If a new venture organizes as a corporation, it is required to have a board of directors.:.  
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show 1) appoint the firm's officers/key managers, 2) declare dividends, and 3) oversee the affairs of the corporation  
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show BOARD OF ADVISERS, LENDERS AND INVESTORS, CONSULTANTS  
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show a panel of experts who are asked by the firm's managers to provide counsel and advice on an ongoing basis.  
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What purpose does LENDERS AND INVESTORS serve:   show
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show paid or unpaid individuals who provide professional or expert advice  
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show to pay dividends.  
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show Burn rate  
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What is the least likely source of seed money that gets a new venture started?   show
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_____ is a brief, carefully constructed statement that outlines the merits of a business opportunity.   show
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Which of the following is NOT a common source of equity funding?   show
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show to broaden their ownership interest.  
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Which of the following is NOT a common source of debt financing for a new venture?   show
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show unlike venture capitalists who look for ventures that will reliably repay their loans, banks are looking for businesses that are "home runs".  
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As financing and funding are difficult for new ventures, _______ is not a creative ways that start-ups can use to obtain financial resources:   show
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show a strategic partnership  
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show True  
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T/F Sweat equity relates to funding a new venture through the acquisition of gifts, free rent, and grants.   show
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T/F Equity funding involves repayment.   show
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T/F The primary disadvantage of equity funding is that the firm's owners relinquish part of their ownership interest and may lose some control.   show
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show False  
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T/F Raising capital by "going public" means to commercialize, or make your products available to the public, for the first time.   show
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T/F An alternative to an initial public offering is a private placement, which is an issue of securities to a large institutional investor.   show
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T/F Both interest payments to lenders, and dividend payments to stockholders, are tax deductible.   show
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T/F One source of financing for new ventures is to borrow money directly from the Small Business Administration (SBA).   show
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show True  
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show CASH FLOW CHALLENGES, CAPITAL INVESTMENTS, LENGTHY PRODUCT DEVELOPMENT CYCLES  
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show As a firm grows, it requires an increasing amount of cash to fund operations and serve its customers, often before generating sufficient revenue and earning income.  
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Describe CAPITAL INVESTMENTS:   show
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Describe LENGTHY PRODUCT DEVELOPMENT CYCLES:   show
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show involves getting a loan, does not convey any ownership rights to lender, must be repaid with interest, interest is tax deductible  
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EQUITY financing involves:   show
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show Target market  
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Which marketing concept pertains primarily to how a firm differentiates itself from competitors?   show
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show a tagline  
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show Brand equity  
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show Positioning  
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show value-based pricing  
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show Gaining the exclusive right to retail a company's products in a specific area for a specific period of time.  
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show Being able to control the process of moving products from their place of origin to the end user instead of relying on third parties.  
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_____ give a retailer or other intermediary the exclusive rights to sell a company's products.   show
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T/F One way a computer company can consider the industry it participates in is to consider it comprised of school customers, business customers, government customers, and household customers; this is an example of market segmentation.   show
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T/F The first step in selecting a target market is to establish a unique position that differentiates you from your competitors.   show
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T/F New ventures are more likely to target an entire segment of a market because they lack the expertise to focus on a niche within the segment.   show
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show false  
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T/F The product line mix is the set of controllable, tactical marketing tools a firm uses to produce the response it wants in the target market.   show
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T/F A service is an activity or benefit that is intangible, doesn't take a physical form, and falls under the product "P" of the four Ps.   show
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show False  
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show True  
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T/F Public relations, which are efforts to establish and maintain a company's image with the public, is emphasized by many start-ups because, relative to advertising, it is cheaper and helps build credibility.   show
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T/F Decisions regarding a firm's distribution channels would fall under the promotion "P" of the four Ps.   show
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show The target market is the limited group of individuals or businesses that a firm goes after or to which it tries to appeal.  
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the steps a firm goes through in selecting that target market.   show
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show Product, Price, Promotion, Place  
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show good or service offered, quality level, features, design, brand name, and packaging  
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show amount of money consumers pay, only element of the marketing mix that produces revenues; the other elements generate costs  
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show activities the firm takes to communicate the merits of its product to its target market, advertising, public relations, samples and trials, event sponsorship, viral marketing  
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show all the activities that move a firm's product from its place of origin to the consumer, can sell direct, or sell via intermediaries  
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show Patent  
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Which type of patent would be applicable to something like Amazon.com's one-click ordering system or Priceline.com "name-your-own-price" model of purchasing travel and accommodations?   show
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show a trademark  
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show copyright  
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Assume a firm's marketing VP leaves to become the marketing VP of a rival firm, and creates a marketing plan for the new firm that is virtually identical to one he was working on at the old firm. The old firm could argue that this is a ________.   show
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show conducting an intellectual property audit  
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T/F Although intellectual property has no value in the marketplace, it is important to firms because it is the result of human imagination and inventiveness.   show
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T/F The loss to a business of intellectual property assets can be as costly as the loss of physical property like equipment and buildings.   show
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show False  
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show False  
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T/F Patent protection has a long history; it was mentioned in the U.S. Constitution.   show
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T/F Utility patents, the most common type of patent, have terms of 20 years from the date of application.   show
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T/F Scandalous matter, such as profane language used by very creative stand-up comedians can be protected by trademark.   show
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T/F The title of the textbooks for each of your classes is excluded from copyright protection.   show
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T/F Bootleg or pirated DVDs and CDs are examples of copyright infringement.   show
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List the steps involved in the process of obtaining a patent:   show
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