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Entrepreneurship Warm-Ups 11/9/23

Quiz by NeKeisha King Price

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5 questions
Show answers
  • Q1
    What is a business plan?
    A legal document that establishes the ownership and structure of a business.
    A formal written document that describes the goals of a business and how it plans to accomplish them.
    A financial statement that shows the revenue and expenses of a business.
    A document that outlines the marketing strategy of a business.
    30s
  • Q2
    What is bootstrapping in the context of entrepreneurship?
    Developing and implementing a marketing strategy for a new business.
    Starting and growing a business with minimal external funding or resources.
    Using specialized software to automate business processes.
    Establishing partnerships with other businesses to share resources.
    30s
  • Q3
    What is the role of an elevator pitch in entrepreneurship?
    To develop a detailed financial forecast for a business plan.
    To negotiate contracts and partnerships with other businesses.
    To secure funding for a startup business.
    To concisely and effectively communicate the value proposition of a business or idea in a short period of time.
    30s
  • Q4
    What is a pivot in the context of entrepreneurship?
    The act of securing funding for a startup business.
    A strategic change in direction or business model to adapt to market conditions.
    The process of establishing a legal structure for a business.
    The practice of optimizing business operations for efficiency.
    30s
  • Q5
    What is a business model canvas?
    A visual framework that outlines the key elements of a business model.
    A financial statement that shows the revenue and expenses of a business.
    A legal document that establishes the ownership and structure of a business.
    A document that outlines the marketing strategy of a business.
    30s

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