كويز ريادة شابتر 3 #فارمسجي

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Pharmacgy
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كويز ريادة شابتر 3  #فارمسجي - Quiz

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Questions and Answers
  • 1. 

    An effective tool used to help assess ideas is the......

    • A.

      Idea toolkit

    • B.

      Idea dashboard

    • C.

      Idea sketch pad

    • D.

      Idea metric

    Correct Answer
    C. Idea sketch pad
    Explanation
    The idea sketch pad is an effective tool used to help assess ideas. It allows individuals to visually represent their ideas and concepts, enabling them to brainstorm, explore different possibilities, and organize their thoughts. By sketching out ideas, individuals can better analyze and evaluate their potential, identify any flaws or improvements, and communicate their vision to others. The idea sketch pad encourages creativity, collaboration, and critical thinking, making it a valuable tool in the idea assessment process.

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  • 2. 

    Capital requirements, estimate earnings, and return on investment are three aspects of the financial feasibility analysis.

    • A.

      True

    • B.

      False

    Correct Answer
    A. True
    Explanation
    The statement is true because capital requirements, estimate earnings, and return on investment are indeed three aspects of financial feasibility analysis. Capital requirements refer to the amount of funds needed to start or operate a business. Estimate earnings involve predicting the potential profits or revenue that the business can generate. Return on investment measures the profitability of an investment by comparing the gain or loss relative to the initial investment. These three aspects are crucial in determining the financial viability and sustainability of a business venture.

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  • 3. 

    The purpose of a feasibility study is to determine whether a business idea is worth pursuing.

    • A.

      True

    • B.

      False

    Correct Answer
    A. True
    Explanation
    A feasibility study is conducted to assess the viability and potential success of a business idea. It analyzes various factors such as market demand, financial projections, resources required, and potential risks. By conducting a feasibility study, entrepreneurs can evaluate the feasibility of their business idea and make informed decisions about whether to proceed with it or not. Therefore, the statement that the purpose of a feasibility study is to determine whether a business idea is worth pursuing is true.

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  • 4. 

    Which of the following is not a macro force that creates change in industries?

    • A.

      Sociocultural

    • B.

      Economic

    • C.

      Technological

    • D.

      Entry barriers

    Correct Answer
    D. Entry barriers
    Explanation
    Entry barriers are not considered a macro force that creates change in industries. Macro forces are external factors that shape and influence industries, and they typically include sociocultural, economic, and technological factors. Entry barriers, on the other hand, are internal factors that restrict the entry of new competitors into an industry. While entry barriers can impact industry dynamics, they are not considered a macro force that drives change.

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  • 5. 

    The Internet is an example of a ________ force.

    • A.

      Economic

    • B.

      Demographic

    • C.

      Technological

    • D.

      Sociocultural

    Correct Answer
    C. Technological
    Explanation
    The Internet is considered a technological force because it is a product of advancements in technology and has significantly impacted various aspects of society. It has revolutionized communication, information sharing, and access to resources on a global scale. The Internet has also transformed industries, such as e-commerce and digital entertainment, and has facilitated the development of new technologies and innovations. Therefore, the Internet is a prime example of a technological force that has shaped the modern world.

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  • 6. 

    Changing demographics create opportunities for entrepreneurs.

    • A.

      True

    • B.

      False

    Correct Answer
    A. True
    Explanation
    Changing demographics refer to shifts in the population, such as changes in age, gender, ethnicity, or income levels. These changes can create new needs, preferences, and demands in the market, which in turn can create opportunities for entrepreneurs to develop products or services that cater to these changing demographics. Entrepreneurs who can identify and capitalize on these opportunities have the potential to succeed and thrive in the market. Therefore, the statement "Changing demographics create opportunities for entrepreneurs" is true.

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  • 7. 

    The strongest of the five forces in most industries is ________.

    • A.

      Rivalry among companies competing in the industry

    • B.

      Bargaining power of buyers

    • C.

      Threat of new entrants to the industry

    • D.

      Threat of substitute products or services

    Correct Answer
    A. Rivalry among companies competing in the industry
    Explanation
    The strongest of the five forces in most industries is rivalry among companies competing in the industry. This is because intense competition among firms leads to price wars, aggressive marketing strategies, and constant innovation, all of which can significantly impact profitability. High rivalry often results in companies continuously striving to outperform their competitors, leading to increased product quality and customer satisfaction. Additionally, rivalry among companies can also lead to industry consolidation, with weaker firms being acquired or forced out of the market.

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  • 8. 

    The primary purpose of the five forces matrix is to ________.

    • A.

      Assign values to each of the five elements

    • B.

      Provide a graphic

    • C.

      List the five forces in rank order

    • D.

      Assess the five forces as compared to a standard value

    Correct Answer
    A. Assign values to each of the five elements
    Explanation
    The primary purpose of the five forces matrix is to assign values to each of the five elements. This matrix is a strategic tool used to analyze and evaluate the competitive forces within an industry. By assigning values to each of the five forces (threat of new entrants, bargaining power of buyers, bargaining power of suppliers, threat of substitute products, and competitive rivalry), companies can assess the overall attractiveness and competitiveness of an industry. This allows them to make informed decisions and develop effective strategies to gain a competitive advantage.

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  • 9. 

    Capital required to compete in an industry determines ________

    • A.

      Bargaining power of buyers

    • B.

      Bargaining power of suppliers

    • C.

      Threat of substitutes

    • D.

      Threat of new entrants

    Correct Answer
    D. Threat of new entrants
    Explanation
    The capital required to compete in an industry determines the threat of new entrants. If the capital requirements are high, it becomes difficult for new companies to enter the industry, reducing the threat of new entrants. On the other hand, if the capital requirements are low, it becomes easier for new companies to enter the industry, increasing the threat of new entrants. Thus, the level of capital required directly impacts the potential for new competitors to enter the market.

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  • 10. 

    Generally, an industry is more attractive when competitors are not similar in size or capability.

    • A.

      True

    • B.

      False

    Correct Answer
    A. True
    Explanation
    An industry is more attractive when competitors are not similar in size or capability because it allows for greater differentiation and specialization. When competitors have different sizes or capabilities, it creates opportunities for companies to carve out unique market positions and target specific customer segments. This reduces direct competition and increases the chances of success for individual companies within the industry. Additionally, having a diverse range of competitors can lead to more innovation and market growth as companies strive to differentiate themselves and gain a competitive edge.

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  • 11. 

    Generally, an industry is more attractive to new entrants when the advantages of economies of scale are present.

    • A.

      True

    • B.

      False

    Correct Answer
    B. False
    Explanation
    An industry is generally more attractive to new entrants when the advantages of economies of scale are not present. This is because economies of scale provide existing companies with cost advantages that new entrants may struggle to achieve. Without economies of scale, new entrants have a better chance of competing on a level playing field with existing companies.

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  • 12. 

    One of the cautions with a niche strategy is that niches change.

    • A.

      True

    • B.

      False

    Correct Answer
    A. True
    Explanation
    A niche strategy is focused on targeting a specific segment of the market. However, markets are dynamic and constantly evolving. Consumer preferences, technology advancements, and market trends can all cause shifts in the demand for specific products or services. Therefore, it is important to recognize that niches can change over time. This means that a niche strategy that was successful in the past may not necessarily continue to be successful in the future.

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  • 13. 

    One form of primary research is ________.

    • A.

      To review published articles

    • B.

      Internet research

    • C.

      Library research

    • D.

      A focus group

    Correct Answer
    D. A focus group
    Explanation
    A focus group is a form of primary research where a small group of individuals is brought together to discuss a specific topic or issue. This method allows researchers to gather qualitative data and insights by facilitating open discussions and encouraging participants to share their opinions, experiences, and ideas. Unlike reviewing published articles, internet research, or library research, a focus group involves direct interaction with participants, providing a deeper understanding of their perspectives and generating rich data for analysis.

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  • 14. 

    Getting traffic counts at local competitor outlets is an example of ________ research.

    • A.

      In-home

    • B.

      Prototype

    • C.

      Windshield

    • D.

      Focus group

    Correct Answer
    C. Windshield
    Explanation
    Getting traffic counts at local competitor outlets is an example of windshield research. Windshield research refers to the process of gathering data by physically observing the target market or competitors in their natural environment. In this case, the researcher would go to the competitor outlets and count the number of people visiting them, providing valuable insights into the level of customer traffic and potential market share.

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  • 15. 

    Secondary research includes customer surveys.

    • A.

      True

    • B.

      False

    Correct Answer
    B. False
    Explanation
    Secondary research refers to the process of gathering information from existing sources such as books, articles, reports, and databases. It does not involve direct interaction with customers or conducting surveys. Therefore, customer surveys are not a part of secondary research.

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  • 16. 

    While designing customer surveys it is a good idea to keep them short.

    • A.

      True

    • B.

      False

    Correct Answer
    A. True
    Explanation
    Keeping customer surveys short is a good idea because it increases the likelihood of customers completing the survey. Long surveys can be overwhelming and time-consuming, leading to lower response rates and potentially biased results. Short surveys are also more likely to capture the attention of customers and provide more accurate and reliable data. Additionally, shorter surveys are easier to analyze and extract meaningful insights from. Therefore, it is advisable to design customer surveys that are concise and to the point.

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  • 17. 

    Testing with prototypes is known as beta tests.

    • A.

      True

    • B.

      False

    Correct Answer
    A. True
    Explanation
    Beta testing is a type of testing that involves releasing a prototype or a pre-release version of a product to a limited number of users for testing purposes. This allows the developers to gather feedback, identify bugs, and make necessary improvements before the final release. Therefore, testing with prototypes is indeed known as beta tests.

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  • 18. 

    Time out of cash is relevant to ________ analysis.

    • A.

      Strategic

    • B.

      Business model

    • C.

      Business plan

    • D.

      Financial feasibility

    Correct Answer
    D. Financial feasibility
    Explanation
    Time out of cash refers to the period of time in which a company will run out of cash and be unable to meet its financial obligations. This concept is particularly relevant to financial feasibility analysis, as it helps assess whether a business venture or project is financially viable and sustainable. By considering factors such as cash flow projections, expenses, and revenue generation, financial feasibility analysis determines whether a business can generate enough cash to cover its expenses and remain operational in the long run. Therefore, financial feasibility analysis is the most appropriate context for considering time out of cash.

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  • 19. 

    The typical start-up in the United States needs a launch capital of ________.

    • A.

      $10,000

    • B.

      $80,000

    • C.

      $100,000

    • D.

      $50,000

    Correct Answer
    A. $10,000
    Explanation
    The correct answer is $10,000. This amount is considered as the typical launch capital for start-ups in the United States. It is the minimum amount required to cover initial expenses such as product development, marketing, and operational costs. Start-ups often begin with limited resources and aim to bootstrap their way to success, gradually raising more funds as they grow. Therefore, $10,000 is a reasonable estimate for the initial capital needed to start a typical start-up in the United States.

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  • 20. 

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

    • A.

      Time out of cash

    • B.

      Bleeding rate

    • C.

      Survival time

    • D.

      Life cycle

    Correct Answer
    A. Time out of cash
    Explanation
    The term "time out of cash" refers to the number of months that a business can continue to operate without running out of money, based on its current rate of negative cash flow. It indicates the duration for which the business can sustain itself financially.

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  • 21. 

    Having access to capital is called entrepreneurial readiness.

    • A.

      True

    • B.

      False

    Correct Answer
    B. False
    Explanation
    Having access to capital is not called entrepreneurial readiness. Entrepreneurial readiness refers to the state of being mentally, emotionally, and skillfully prepared to start and manage a business venture. While having access to capital is certainly important for starting a business, it is just one aspect of entrepreneurial readiness. Other factors such as having a viable business idea, market knowledge, leadership skills, and a willingness to take risks are also crucial for entrepreneurial readiness. Therefore, the correct answer is False.

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  • 22. 

    The Business Model Canvas has ________ elements.

    • A.

      3

    • B.

      5

    • C.

      9

    • D.

      6

    Correct Answer
    C. 9
    Explanation
    The Business Model Canvas has 9 elements. The Business Model Canvas is a strategic management tool that helps businesses visualize and analyze their business model. It consists of 9 key building blocks that represent different aspects of a business, including customer segments, value propositions, channels, customer relationships, revenue streams, key activities, key resources, key partnerships, and cost structure. These elements are essential for understanding and designing a successful business model.

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  • 23. 

    Ideally, a focus group should have ________ members.

    • A.

      2-3

    • B.

      16-20

    • C.

      8-12

    • D.

      5-7

    Correct Answer
    C. 8-12
    Explanation
    A focus group should ideally have 8-12 members. This range allows for a diverse group of participants while still maintaining a manageable size for effective discussion and interaction. With too few members, there may not be enough perspectives and insights generated. On the other hand, with too many members, it can be challenging to ensure everyone has the opportunity to contribute and be heard. Therefore, 8-12 members strike a balance between having enough participants for a robust discussion and keeping the group size manageable.

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  • 24. 

    Using focus groups is an example of primary research.

    • A.

      True

    • B.

      False

    Correct Answer
    A. True
    Explanation
    Using focus groups is an example of primary research because it involves gathering original data directly from the target audience. In focus groups, a small group of individuals is brought together to discuss a particular topic or issue, allowing researchers to gain insights, opinions, and perceptions directly from the participants. This method is considered primary research because it involves collecting firsthand information that has not been previously gathered or analyzed by others.

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  • 25. 

    A venture must produce an attractive rate of return relative to the level of risk it requires.

    • A.

      True

    • B.

      False

    Correct Answer
    A. True
    Explanation
    The statement is true because in order for a venture to be considered successful, it needs to generate a rate of return that is appealing or profitable. However, this rate of return must also be relative to the level of risk involved in the venture. If the risk is high, then the expected return should also be high in order to justify taking on that level of risk. Therefore, a venture must produce an attractive rate of return relative to the risk it requires.

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  • 26. 

    Asking the question, "Is this idea right for me?" is part of the process of assessing ________ feasibility.

    • A.

      Business

    • B.

      Financial

    • C.

      Entrepreneur

    • D.

      All of the above

    Correct Answer
    C. Entrepreneur
    Explanation
    Asking the question, "Is this idea right for me?" is part of the process of assessing entrepreneurial feasibility. This is because entrepreneurs need to evaluate whether a business idea aligns with their skills, interests, and goals before pursuing it. Assessing the fit between the idea and the entrepreneur's capabilities and aspirations is crucial in determining the feasibility of the venture. Therefore, the correct answer is entrepreneur.

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Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.

  • Current Version
  • Jan 24, 2024
    Quiz Edited by
    ProProfs Editorial Team
  • Dec 30, 2018
    Quiz Created by
    Pharmacgy
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