Final Exam Form " Leadership and creativity " / / Created By : Omar AL-Kofahi
Leadership and Creativity Exam
Test your knowledge and skills in leadership and creativity with this comprehensive quiz designed for aspiring entrepreneurs and business leaders. This quiz covers various topics, including business plans, market analysis, and innovative thinking.
- 22 thought-provoking questions
- Multiple-choice format
- Score-based assessment
Right-brain thinking is much like the image of a kaleidoscope.
TRUE
FALSE
The financial feasibility analysis takes these aspects into consideration ________.
Capital requirements, human resources, and return on investment
Capital requirements, estimated earnings, and return on investment
Capital requirements, estimated earnings, and return on sales
Capital requirements, estimated earnings, and return on owner's equity
Which of the following is true about the information-gathering process in competitive analysis?
It is an expensive process that only large companies can afford.
It is a process closely regulated by various federal laws that prohibit doing things like purchasing competitive products and analyzing them.
It can be relatively inexpensive and easy for the small business owner to conduct.
Non of above
Force-field analysis is a useful technique for evaluating the forces that support and oppose a proposed change.
TRUE
FALSE
Brainstorming is a process in which a small group of people interact with very little structure, with the goal of producing a large quantity of novel and imaginative ideas.
TRUE
FALSE
Asking the question, "Is this idea right for me?" is part of the process of assessing ________ feasibility.
Financial
Business
Entrepreneur
Non of above
Which of the following is not one of the three components of intellectual capital?
Customer
Competitor
Human
Structural
Which of the following question(s) should you consider before entering a lawsuit to protect intellectual property?
Can you afford the loss of time, money, and privacy the lawsuit will bring?
Can the opponent afford to pay if you win?
Do you expect to get enough from the suit to pay for the costs of hiring an attorney?
All of the above
Economies of scale relate to which of Porter's 5-forces?
Bargaining power of buyers
Threat of new entrants
Bargaining power of suppliers
Threat of substitutes
Printed newspapers have seen their readership rates decline as new generations of potential readers turn to their iPads and smartphones for sources of news. This is an example of ________.
Threat of substitutes
Bargaining power of buyers
Bargaining power of suppliers
Rivalry among existing firms
Potential investors tend to believe that if an entrepreneur cannot develop a good plan, the entrepreneur ________.
Is probably the action-oriented sort of person they need running a business
Needs to hire a consultant to write the plan for him
Probably lacks the discipline to run a business
Is just like the majority of entrepreneurs and will probably do quite well
For every 5,000 to 10,000 new drug discoveries, only about two make it to clinical trials and no one gets to the market.
TRUE
FALSE
A business plan ________.
Is a valuable managerial tool that helps an entrepreneur focus on developing a course for the business in the future
Is a valuable tool for convincing lenders or investors to put money into the business
Forces an entrepreneur to think a business idea through, considering both its positive and its negative aspects
All of the above
An entrepreneur may find that the business plan indicates that the business concept is not viable. This is another potential benefit of writing a business plan; this revelation occurred before the owner committed significant resources (time and money) to the venture.
TRUE
FALSE
Which of the following is a danger of using a niche strategy?
Niches change.
Niches can go away.
Entering a niche requires adaptability in your initial plan.
All of the above
A good advice to follow in customer surveys is ________.
"Be as detailed as possible"
"Keep them short"
"You've got them hooked, get all you can from them"
All of the above
"Big box retailers" present an opportunity for many small business owners.
TRUE
FALSE
The typical start-up in the United States needs a launch capital of ________.
$10,000
$80,000
$100,000
$50,000
The Business Model Canvas has ________ elements.
3
6
5
9
Kevin Abt noticed that people were cooking meals in their homes less often but wanted to avoid the hassle of going out to eat. They wanted to "eat in" without cooking. Abt launched a company, Takeout Taxi, that delivers restaurant-prepared food to his customers' homes and businesses. Takeout Taxi is the result of a(n) ________.
Strength
Weakness
Opportunity
Threat
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