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Exam 4: Conducting a Feasibility Analysis and Designing a Business Model

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Question 41

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The process of determining whether an entrepreneur's idea is a viable foundation for creating a successful business is known as a ________.

A) business plan
B) strategic analysis
C) industry analysis
D) feasibility analysis

E) None of the above
F) C) and D)

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Question 42

Multiple Choice

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________ 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

E) A) and B)
F) B) and C)

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Question 43

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Time out of cash is relevant to ________ analysis.

Many new businesses require that an entrepreneur have a certain set of knowledge, experiences, and skills to have any chance of success. This is called entrepreneurial ________.

What are the parameters used in an idea sketch pad?

A(n) ________ trial involves sending researchers into customers' homes to observe them as they use the company's product or service.

Generation Y and Generation Z are examples of ________ changes.

When bargaining power of buyers is ________, the industry is ________ attractive.

The Internet is an example of a ________ force.

Industry databases are a good source of ________ research.

What are some of the most important questions a feasibility analysis answers and what model may be of value in this process?

Generally, an industry is less attractive when the number of buyers in the industry is large.

Driving around and observing competition is called "windshield" research.

"Windshield" research is an example of ________ research.

An idea assessment is the process of examining a need in the market, developing a solution for that need, and determining the entrepreneur's ability to successfully turn that idea into a business.

The business plan helps an entrepreneur assess ideas in a relatively short period of time.

Low capital requirements, cost advantages that are not related to company size, and the lack of brand loyalty are considerations regarding the ________.

Testing with prototypes is known as beta tests.

Generally, an industry is more attractive when companies in the industry have ________ switching costs to go from one supplier to another.

Prototypes usually point out potential problems in a product's ________.