Business And Project Management Process Quiz!
12 Questions
| Total Attempts: 39
.
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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