Which of the constellations below forms the most completed venture team description?
Management team, Board of Directors, Founders, Board of Accountants, Financial Officers
Management team, Board of Accountants, Lenders and Investors, Other Professionals (consultants), Lawyer, Accountant, Founders
Management team, Board of Directors, Lenders and Investors, Other Professionals (consultants), Board of Advisors, Key Employees, Founders
Management team, Board of Directors, Accountants Investors, Other Professionals (consultants), Key Employees, Founders
The most common reason for choosing to become an entrepreneur is according the course
To be my own boss
To be independant
To become rich(er)
Develope own ideas
What is correct regarding GEM and TEA
GEM, Global Entrepreneurship Monitor updates yearly the TEA, Total entrepreneurial activity in different countries
GEM and TEA are two different indexes, Global Entrepreneurial Monitor Index and Total Early stage Entrepreneurial Activity
GEM, Global Entrepreneurship Monitor updates yearly the TEA, Total Early stage Entrepreneurial Activity in different countries
TEA, Transnational Entrepreneurial Activity monitors the GEM, Global Entrepreneurial Monitoring Index
In which order would you ideally handle the development of proposed business venture?
Idea => Feasability analysis => Opportunity
Idea => Opportunity => Feasability analysis
Opportunity => Idea => Feasability analysis
Feasability analysis => Idea => Opportunity
Which of the following statements is true regarding Swedish legal foundations
A sole proprietorship requires a capital of minimum 25 000 kr
A public corporation requires a minimum capital of 25 000 kr
A sole proprietorship doesn't require any minimum capital
A private corporation requires a minimum capital of 500 000 SEK
What does incubation mean in an entrepreneurial context?
Flash of recognition when the solution to a problem is seen
The stage of the creative process during which an entrepreneur considers the idea or thinks about a problem
Bringing the background, experience and knowledge to recognize an opportunity
The planning stage of the implementation of a business after that an idea has been processed
What does preparation mean in a context about entrepreneurial creativity?
The stage of the creative process when an idea is analyzed for its viability
Intrapreneurship is
Entrepreneurial initiatives within a larger exits the company and is continued independently
When units of a larger corporation encourages, allows and applies entrepreneurial conditions for the employees
When two or more entrepreneurial firms interact
An entrepreneurial firm is adopted by and integrated in to a larger corporation
What is correct about business model?
Business models explains how an entrepreneurial initiative will be financed
Business models contains information about the founders and owners of company
A business model is consisting of a marketing plan and a business plan
Business models are used to explain how an entrepreneurial initiative is adding value to customers and to the company
What is correct about disruptive business models
Disruptive business models are characterized by that they have impact on the way business is conducted over a whole industry
Disruptive business models are more common than the standard business models
Disruptive business models require usually product innovations
Disruptive business models are characterized by that they erase the possibilities to continue with business as usual for existing suppliers to a market
the difference between B2B and B2C is that
A company is either a B2C or a B2B company, not both at the same time
B2B regards business between companies and B2C regards business between a company and a private consumer
A manufacturer of cars intended for final sale to private consumers (for example Volvo Cars) is primarily a B2C company
B2C regards private consumer intended products and services while B2B regards products and services for professional use
Which of the following statements regarding the five forces model is wrong?
The five forces model is used for understanding industry structure
The five forces in the model determine industry profitability
The five forces model was developed by professor E Silverstein in the 1950's
The five forces are a) Rivalry among existing firms b) Threats of new entrants c) Bargaining power of buyers d) Bargaining power of suppliers e) Threats of substitutes
Which of the following competitive situations is the most obvious threat of substitute?
Bicycle sales vs free public transportation
McDonald's vs fine dining
Volvo cars vs Mercedes cars
I-phones vs android phones
What is the difference between public and private corporations?
Both types of corporations are owned by shareholders, but only shares of a public corporation are traded at public stock markets
Public corporations are owned by the state while private corporations are privately owned
Public corporations are subject to double taxation but private corporations are only single taxed (only profit but not the share dividends are taxed)
Public corporations are subject to supervision by the state while private corporations have no external reporting duties
What is correct regarding the forces bargaining power of suppliers or bargaining power of buyers?
The strongest bargaining power relates only to which of the parties is the most powerful and have the largest resources
The strongest bargaining power relates to the combination of which of the parties is the largest and the number of alternative parties, i.e. the number of alternative buyers and sellers
Bargaining power of suppliers decreases when there are fewer and bigger suppliers and many small buyers
The strongest bargaining power relates only to the number of alternative parties there are, i.e. the number of alternative buyers and sellers
Which of the following statements regarding Swedish legal forms of business organizations is NOT correct?
Private corporations must have a minimum share capital of 50000 kr
In sole proprietorships, all legal and financial responsibility is personal to the owner
In private corporations, the firm and the owners (shareholders) are separated legal entities
For public corporations, there is double taxatation of both the company profit and the shareholders' dividends
Which of the following are NOT listed as one of the four most suitable competencies for a founder of a start-up?
Network capability
Relevant industry experience
Level of education
Finance know-how
The five forces model is primarily used for:
understanding an industry's structure and to determine industry profitablity
forecasting a company's business results
making business plans
developing business models
The four forms of intellectual property are
Patent, Logotype, Drawings, Documentation
Patent, Trademark, Copyright, Trade secret
Patent, Trademark, Franchise, Trade secret
Patent, Trademark, Copyright, Documents
Which are the main reasons for needing financing of a start-up?
Cash flow, Investments, Development
Cash flow, Investments, Salaries
Cash flow, Supplier invoices, Salaries
Salaries, cost of materials, Investments
Which are the major advantages for becoming a franchisor?
Low cost, Profit sharing, Less legal expenses
Low cost, Income growth, Access to ideas
Low cost, Higher profits, Less legal expenses
Low cost, Less skills required, Less legal expenses
What is meant by a unicorn in the venture capital world?
A venture capital tech company making a profit of a billion dollars or more
A venture capital tech company valued at a billion US dollars or more
A venture capital tech company having attracted a billion dollars or more in investment capital
A venture capital backed tech company valued at a billion Swedish kronor or more
Which is correct?
A board of advisors in a company is sometimes a legal requirement
Declaring dividends to the company's shareholders is the responsibility of the managing director
It is more common with single founders than multi-founders in new start-ups
A board of directors is always a legal requirement in a shareholders' company
Which are according the course the four most common day-to day challenges of a growing firm?
Cash flow management, Price stability, Finding customers, Supplier negotiations
Cash flow management, Price stability, Capital constraints, Quality control
Making profit, Price stability, Finding customers, Supplier negotiations
Quality control, Price stability, Finding customers, Supplier negotiations
Which of the following statements is correct?
Economy of scope is achieved by lowering the variable product cost
Economy of scope is achieved by adding more product variation while economy of scale is achieved by producing more of the same product
Economy of scale is achieved by adding more product variation while economy of scope is achieved by producing more of the same
Economy of scale can only be achieved by increasing the production volume, so that the fixed cost per unit goes down
Which is correct the following growth strategies (according the course literature)?
An "aquisition" is when firms makes an agreement on equal terms to become one firm all together
A "joint venture" means that two firms agree to share resources without forming a new legal unit
A "merger" is when firms makes an agreement on equal terms to become one firm all together
A "strategic alliance" is when firms limit their cooperation to technical and financial developments of products
Which of the following statements is not true?
Differences in input factors (raw materials, labor, capital, knowledge) between countries are a driving force behind international trade
Geographical, social, and cultural factors are important drivers of world trade
International trade policy protection has contributed to a decrease in world trade during the Second World War
The drive for to reach resource efficiency through specialisation is mostly important for large countries free trade
It is not wise to invest in full-scale globalization
The ANSOFF matrix demonstrate different development options and its connected level of risk
Export and Licensing are strategies with low level of investment and risk compared to a Joint Venture
Trade blocs and free trade areas increase trade restrictions
Which of the following statments is not true ?
Organizations such as the International Monetary Fund (IMF) and the World Bank (IBRD) are related to GATT
GATT is an acronym for General Acceptance of Trade and Tolls
Red tape barriers are a type of a protective trade policy
GATT regulates cross-border trade in goods through reduced customs duties, trade quotas and other trade barriers
Opponents to free trade advocate more restrictive trade between countries through, among other things, decreased import duties. This is because larger trade barriers, for example, (i) have the potential of increasing government revenue (e.g., through import duties); (ii) protect local employment; and (iii) increase a country's self-sufficiency in terms of industrial production.
Advocates of free trade advocate, among other things, that free trade (i) gives domestic companies a larger market abroad; (ii) increases business efficiency, quality (product, processes, services) and reduces prices; (iii) provides consumers with a richer range of products; and (iv) contributes to world peace.
A positive effect of restricted trade between countries is the higher protection of domestic start-up businesses from powerful foreign competition.
A negative effect of free trade is that the amount of research and development decreases, due to the increased competition between firms and organizations.
Which of the following statements is true?
The Gender Social Norm Index shows a very large percent of women and men worldwide have a gender social norm bias
The Human Development Index measures sustainability from four dimensions: Political, Educational, Economic, Physical integrity
The Gender Social Norm Index is measured from three dimensions: A decent standard of living, Knowledge, Long and healthy life
The Global Peace Index is measured from the number of deaths in combating countries
The standard “ISO 26000” helps businesses and organizations translate principles into effective actions and shares best practices relating to social responsibility, at a global level.
When you choose the “Fairtrade” product label, you contribute to worsened working and living conditions for growers and employees in developing countries.
The Forest Stewardship Council (FSC) discourages environmentally friendly, socially beneficial, and economically viable use of the world's forests.
Circular economy is a concept, primarily, to enhance social responsibility into the business model
What is true regarding TEA (total early stage entrepreneurial activity)?
It is the percentage of people 18-64 years old acting as early entrepreneurs
It is a percentage to compare entrepreneurial activity between companies
It is an index that compares the rate of success of entrepreneurs in different countries
It is a way to measure and compare the quality of early entrepreneurial activity in different countries
What did you learn from the course regarding salary-substitute firm (SSF) and Entrepreneurial firm (EF)?
An SSF is a firm is in practice much like a conventional employment, e.g. one-person companies providing services in the construction industry
An EF is a company that operates commercially as opposed to an SSF that is often a non-profit organisation
An SSF is a firm where the employees are remunerated by other means than a regularely paid salary, for example by sharing the company's profit
An SSF is also called "lifestyle firm", i.e. a firm where you make living and earn money through activities around your personal lifestyle, for example being a golf-pro
In which four parts was the course material and the course book divided into? (Which is also the logic thinking process to start and develop a new company)
1)Entrepreneur 2)Business planning 3)Financing 4)Manage and grow
1)Entrepreneur 2)Business idea and business plan 3)Start a company 4)Manage and grow
1)Business ideas 2)Business planning 3)Financing 4)Manage and grow
1)Business ideas 2)Start a company 3)Business idea and Business plan 3)Financing 4)Manage andgrow
What is true regarding opportunity and/or opportunity window?
An opportunity is a favorable set of circumstances that creates need for a new type of product or business
An opportunity is always based on solving a problem of potential customers
The window of opportunity is the gap between existing actors on a market where there could be a business opportunity
Identifying opportunity is the step prior to develop an entrepreneurial idea
The three ways to identify opportunities are according the course book....
1)Observing trends 2)Solving problems 3)Develop a better offer than from existing firms
1)Observing trends 2)Solving problems 3)Finding gaps in the market place
1)Find economy of scale or scope possibilities 2)Find suitable disrupted business models 3)Find suitable standard business models
1)Mapping the market 2)Solving problems 3)Finding windows of opportunity
What is NOT correct about business models?
Business models contain information about the founders or owners of the company
Business models describes the relation with customers
Business models describe key resources of a company
Which is true regarding business models?
Low-end market business model is an example of a disruptive business model
Disruptive business models replaces most often existing standard business models
Google Adwords and Uber are examples of standard business models
"Razor and blades" and Bricks and clicks" are examples of disrupted business models
What is correct regarding "Industry" and "Market"
Taxi is a market and city passenger transport is an industry
Airlines is a market and long distance passenger transportation is an industry
Truck operators is an industry and goods transport is a market
City buses is a market and city passenger transportation is an industry
What is meant by or characterizes the force "threat of rivalry among existing firms" as being one of the forces in the five forces model?
Companies form cartels to hinder new entries to the market
Companies take extreme actions, e.g. they sell below cost, to hinder a new entrant to establish itself on the market
Existing firms go together to form common plans against a new entrant to the market
The force is more liklely to be strong when there are few companies selling to a market
Which of the following could be regarded as most clearly as a threat of substitute?
Electric kick bike service vs own walking
Quick electric kick bike service vs. JLT city bus service services
Quick vs. TIER electric kick-bike services
A new start-up company vs an established company
Which is correct regarding New venture teams according the course book?
The board of advisors is legally responsible for the company's actions
The board of directors are key employees appointed to manage the company
The management team is a group of employees responsible for the daily operation of a company
Lenders and investors are the shareholders of a company
To shape new venture teams the course book proposes using a skills profile. It is primarily used to for.....
Appointing a well balanced board of directors
Simplifying the work of the HR responsible within the company
Appointing a well balanced board of advisors
Forming a suitable balance of competencies among the management team and key employees
What is "burn rate" regarding a new company's financial performance
It is the same as the dilution rate when more capital is invested by investors
It is the difference between post-money and pre-money
It is the amount of money investors risk to loose
it is the rate at which it needs to spend capital until it becomes profitable
What is correct regarding external financing
External investors always request to be elected by the original owners to the board of directors
Crowd funding means that customers are requested to add financing of the company with their purchases
Bank loans is the least expensive type of financing, but also the most difficult to get for start-ups
Boot strapping is a form of crowd funding
What is a patent?
A grant from one or more national independent patent organizations to get legal support if a patent is infringed
A grant from one or more federal governments giving the right to exclude others to use an invention
None of the alternatives is correct
A registration of an innovation at an independent patent organization
What is correct regarding franchisor and franchisee
Advantages to be a franchisor are low cost and increased buying power
Typical disadvantages of being a franchisee are lost control and requiring business skills
The franchisee licences its trademark to franchisors
Advantages to be a franchisee are low cost and increased buying power
Utility patents is the least common type of patents
Utility patents are granted for 20 years
Design patent is the most common type patents
Plant patents are the most common type of patents
What is the critical volume?
The volume which is needed to make the company to make a gross margin in the income statement
The volume that is needed to make the company break even
The volume which is needed to cover the direct cost
The volume needed to cover the sales cost
Geographical, social, and cultural factors are negligible drivers of world trade
International trade policy protection has contributed to a boost in world trade after the Second World War
Which of the following statments is true?
Every country has its own unique trade policy today
GATT was created to handle the WTO regulatory system
World war 1 and 2 increased the world trade due to stronger cooperation between the allies
In 2020 the Swedish service export was larger than the Swedish export in goods
The most expansive industries are commodity-intensive
International trade is growing twice as fast as commodity production
Raw materials have the largest share of the world trade
Agenda 2030 was adopted in September 2015 of the heads of state and government of the world, through the UN General Assembly
Agenda 2030 was developed by the Brundtland Commission
The 17th goal in Agenda 2030 is about strengthens the global partnership for sustainable development
The United Nation’s (UN) Agenda 2030 aim to eradicate poverty, stop climate change, and create peaceful and secure societies
The Human Development Index measures sustainability from three dimensions: A decent standard of living, Knowledge, Long and healthy life.
The Gender Social Norm Index is measured from four dimensions: Political, Educational, Economic, Physical integrity
The Swan label is the Nordic region's official eco-label and is commissioned by the government
A modern successful business acts in accordance with the principles People, Planet and Profit
UNs Global Compact is an initiative to support companies to align their strategies with universal sustainable principles
The Triple Bottom Line (3 BL) principle The Planet is addressing the business need of social responsibility connecting to health, safety, human rights, business ethics and community involvement
The global reporting initiative (GRI) is a voluntary accounting framework for sustainability in all types of Organizations
In principle, there can be a trade-off or a win-win between a company’s sustainability performance and financial performance
A good corporate sustainability report should have several quality attributes connected to Clarity, Business benefit connected to the sustainability work, Social benefits achievements, Long-term sustainability goals and have enhanced Credibility
What characterizes an opportunity as in contrast to an entrepreneurial idea
Opportunities always include some sort of innovation
An oppurtunity is characterized by that it is attractive, timely, durable and based on the supply of a product, service or business that adds value for a user or buyer
An opportunity is equal to a gap in the market and the idea is always a product solution
An opportunity is equal to a demand in the market
What is NOT true regarding a business plan?
The business model is one of the more important parts of a business plan
A business model is a firm's plan or recipe on how it creates value for its stakeholders
The Barringer/Ireland business model template is a format for displaying business plan parameters
A business model is a legal requirement in public and private corporations
What is correct about business models?
Which two types of disruptive business models are mentioned in the course book?
"New market disruption" and "Low-end market disruption"
"New market" and "Standard"
"Low cost" and "High price"
"Low-end market disruption" and "High end disruption"
What is correct regarding B2B and B2C
B2C stands for "Business to Commercials"
IKEA and ICA stores are practicing both B2B and B2C
B2B and B2C relates to whether the company's products or services are aimed for use by consumers or by businesses
Selling clothes is almost only and primarily B2C
A market is a group of companies and consumers buying the same type of products or services
A market is a group of companies with similar products or services
An industry is a group of companies with similar products and/or services
An industry is a group of manufacturing companies with similar products
Volkswagen cars vs Audi cars
Fast food vs fine dining
Leasing car vs buy a car
What is meant by double taxation of a company's profits ?
Taxation is on both the sales amount and on the amount on profit
Tax is doubled compared to sole proprietorships
Both profit and share dividend payments to share holders are subject to taxation
Share holders pay tax both on the purchase value of shares and on the profit when selling shares of the company
Which are the five forces in the five forces model?
1)Threat of competitors 2)Threat of new products 3)Rivalry among existing firms 4) Bargaining power from suppliers and buyers 5) Legal forces
1)Threat of substitutes 2)Threat of new entrants 3)Rivalry among existing firms 4) Bargaining power from suppliers 5)Bargaining power from buyers
1)Threat of substitutes 2) Threat of new entrants 3)Rivalry among existing firms 4)Bargaining power 5) Legal and political forces
1)Threat of politics 2)Environmental threats 3)Rivalry among existing firms 4) Bargaining power from suppliers 5)Bargaining power from buyers
What is indirect competition?
Indirect competition is when companies offer different solutions to satisfy the same customer need
Indirect competition is when companies are trying to sell to the same type of product to a customer through a different type of marketing channel, for example via internet vs via a city store
Indirect competition is when a competition is expected in the future from another company
Indirect competition is when companies are offering different business conditions, for example in different price ranges like high end and low end market.
Which are the correct abbreviations of Chief Officers in a company?
CFO = Chief Financial Officer, CTO = Chief Technology Officer
CEO = Chief Excutive Officer, CTO = Chief Transmission Officer
CEO = Chief Export Officer, CTO = Chief Technology Officer
CEO = Chief Excutive Officer, CTO = Chief Transportation Officer
What is correct regarding internal or external growth strategies?
Typical internal growth strategies are licensing, joint venture and new product developments
Typical external growth strategies are mergers and aquisitions, licensing, strategic alliances and franchising
Typical external growth strategies are international expansion, franchising and other product related strategies
Typical internal growth strategies are new product developments, licensing and joint ventures
EPO, USPTO and PRV are
Abbreviations of three types of intellectual properties
Abbreviations of three different authorities for patent registrations
Abbreviations for different types of patents
Abbreviations of different legal levels of trademark protections
The IMF and World Bank are United Nations (UN) agencies with the main aim of supporting AGENDA 2030 in the world
GATT regulates cross-border trade in services through reduced customs duties, trade quotas and other trade barriers
Which of the following statments is true ?
TRIPS is a multilateral agreement on intellectual property, which provides protection for patents, copyrights and trademarks
WTO is a multilateral agreement aimed at trade in goods and is based on the same principles as GATT intended for the service area
Because the WTO is intergovernmental, its power is in the hands of its members. Therefore, the WTO has large power to interfere in its members' policies
The WTO was not established to handle the various regulatory systems GATT, GATS & TRIPS
Licensing allows firms to increase revenues and reduce investment costs risk in comparison to direct export as well as enhance learning and diffuse technologies
Exporting requires relatively low investments and involves a relatively small risk for a company.
Franchising is a contractual arrangement in which a company receives a royalty or fee in exchange for the right to use its trademark, patent, trade secret, or other valuable intellectual property
Strategic alliances and joint ventures are a contractual arrangement in which a company receives a royalty or fee in exchange for the right to use its intellectual property
Corporate Social Responsibility
While companies should be a good corporate citizen, philanthropic responsibilities are of no importance.
Secondary responsibilities of companies are to obey the law and be profitable.
Philanthropic and ethical responsibilities are the primary responsibilities of companies.
Companies have an obligation to do what is right, just, and fair, and to avoid harm.
In principle, there can not be a trade-off or a win-win between a company´s sustainability performance and financial performance
The global reporting initiative (GRI) is a mandatory accounting framework for sustainability in all types of Organizations
Regulation can not help companies to detect resource inefficiencies in their operations
Which parameter is NOT included in the Business Model CANVAS template
Distribution channels
Revenue structure
Competitors
Cost structure
Balance sheet
Key resources
What is the Pre-money value in year 1 in the following case? -Post-money value in year 1 is 6MSEK -Total valuation in year is 24 MSEK -Exit value in year 5 is 6 MSEK
2 MSEK
3.5 MSEK
1.5 MSEK
4.5 MSEK
