Exam (elaborations)
ESB 2024 QUESTIONS AND ANSWERS 2024
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Exam of 3 pages for the course esb at esb (ESB 2024)
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ESB 2024What is Entrepreneurship? - answer Setting up a business with the aim to make a profit.
For each business, select B2B or B2C. - answerB2B- Wholesale flooring distributor,
Purchases requiring a tax exemption certificate
B2C-Motorcycle repair shop, Chain of local grocery stores
Which legal structure should you set up for your business? – answer S-Corporation
For each statement about owners of equity in a business, select True or False. - answer
True- Founders own equity, A partner owns equity.
False- All stakeholder owns equity, Contractors own equity.
Place the stages of the business life cycle in the correct order. - answer1. Existence
2. Survival of the Fittest
3. Success
4. Take-off
5. Maturity
Match each Element of the Design Thinking Process - answer1. Empathize
2.Define
3. Ideate
4. Prototype
5.Test
Successful entrepreneurs have mindset (three) - answerResponsible, Adaptable,
Tenacious
Which three characteristics help identify a business opportunity? - answer1. Service
2. Price
3. Quality
Which two documents summarize the business plan of a company? - answerLean
Canvas
Pitch Deck
Which three elements are required to have a Trade Secret? - answer1. Subject to
reasonable efforts to maintain its secrecy
2. Others cannot legitimately obtain the infromation
3. Information has economic value not generally know
Which two are offline marketing platforms? - answer1. TV ads
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