1) The chapter takes the view that the self-examination required to develop a tight, well
written business plan is more important than the plan itself.
2) The business plan must establish that there is an opportunity worth exploiting and
1) It is very difficult for entrepreneurs to raise debt financing from conventional banks
because they require as many as three years of actualnot projectedfinancial
statements and assets that adequately cover the loan. (True)
2) It is generall
Questions for Chapter 4
1. By merging different revenue sources into as few categories as possible, you make your
business model more comprehensive.
2. Non-profit organizations do not need revenue to operate.
3. Twitter uses a l
Questions for Chapter 3
1. Most successful ideas are driven by the entrepreneurs personal experience.
2. Starting a company in a sphere of business that you really enjoy is not the best idea, in terms of
the chance of success.
\Questions for Chapter 5
1) Marketing is at the heart of an organization because its role is to identify and serve
2) The marketing of products and services are similar.
3) Customer acquisition and retention are
Questions for Chapter 6
1. A talented entrepreneur should be able to substitute for an experienced management team.
2. The size of your organization is inversely correlated to the amount of revenue your business can
Questions for Chapter 10
1. According to the chapter, the most precise way of valuing a business is asset-based
2. Valuation of a small, privately held corporation is difficult.
3 The present value of company is the pr
Questions for Chapter 2
1. Entrepreneurship is a process that can be learned.
2. Entrepreneurs possess highly specialized behavioral attributes that are distinct from those of
3. Access to entrepreneurial role
Questions for Chapter 8
1. It is better to let your accountant articulate the numbers of your business idea to potential
2. Entrepreneurs who claim their estimates are conservative are usually
overly optimistic about their ve
MGMT 451/ IT495
Over the years I have met a few different entrepreneurs. Jared, a former employer
of my older brother Matt, owns a company that sells and installs air conditioning units.