Business And Project Management Process Quiz!

12 Questions | Total Attempts: 39

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Business And Project Management Process  Quiz!

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Questions and Answers
  • 1. 
     Feasibility analysis consists of 4 interrelated components.
    • A. 

      True

    • B. 

      False

  • 2. 
    Is an original, function model of a new product that entrepreneurs can put into the hands of potential customers:
    • A. 

      Focus groups

    • B. 

      Customer surveys and questionnaires

    • C. 

      Prototypes

  • 3. 
    The benefit (profitability measure) to an investor resulting from an investment of some resource:
    • A. 

      Return on Investment

    • B. 

      Estimated Earning

    • C. 

      Time Out of Cash

  • 4. 
    The step in the planning process in which the entrepreneur tests the concept and uses what it learned from the real customers to refine the business model:
    • A. 

      Estimated Earning

    • B. 

      Entrepreneur / Team Feasibility

    • C. 

      Developing and Testing a Business Model

  • 5. 
    Value proposition is:
    • A. 

      The collection of products and/or services the business will offer to meet the needs of the customers

    • B. 

      It is all the things that will set the business apart from its competitors

    • C. 

      Both A+B

  • 6. 
    The process of making changes and adjustments in the business model on the basis of the feedback a company receives from customers:
    • A. 

      Pivots

    • B. 

      Cost structure

    • C. 

      Revenue stream

  • 7. 
    Define how the customers seek out information about this type of product:
    • A. 

      Distribution channels

    • B. 

      Communication channels

  • 8. 
    Define the most effective way to get products to the customers for this type of business:
    • A. 

      Distribution channels

    • B. 

      Communication channels

  • 9. 
    Changes to the product to enable it to better meet the needs and wants of the customer:
    • A. 

      Customer pivot

    • B. 

      Revenue model pivot

    • C. 

      Product pivot

  • 10. 
    Changes in the target customer description:
    • A. 

      Customer pivot

    • B. 

      Product pivot

    • C. 

      Revenue model pivot

  • 11. 
     Prototypes point out potential problems in a product:
    • A. 

      Price

    • B. 

      Design

    • C. 

      Color

  • 12. 
    Asking the question, "Is this idea right for me?" is part of the process assessing:
    • A. 

      Entrepreneur / Team Feasibility

    • B. 

      Financial Feasibility

    • C. 

      Product or service Feasibility

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