BUSN 100 Midterm Exam-Introduction to Business
Exam
BUSN 100 MIDTERM EXAM (APUS)
BUSN100 Midterm Exam (APUS) Question 1 of 10: In your own words explain, are entrepreneurs born or made? Question 2 of 10: In your own words, what is a venture capitalist? Question 3 of 10: In your own words, exp...
In your own words explain, are entrepreneurs born or made?
I actually think it’s a combination of both. Most entrepreneurs are
naturally born with special attributes like ambition, vision, passion,
creativity, self-discipline, and passion, which are all good foundations
for a success entrepreneur. Although an entrepreneur may be highly
creative and have a great vision, this in itself is not enough.
Entrepreneurs also need some business trainings, knowledge, experience
and a good sense of communicating with people. Entrepreneurs gain the
majority of their experience and business training by working for other
businesses and transiting into their own business. Knowledge, which is
also something an entrepreneur is not born with but actually developed
through some level of education but necessary to grow a business.
Lastly, there is being able to communicate with people. In order for an
entrepreneur to be able to relate to their potential customer and gained
more customers communication through great customer service is a key
factor.
Question 2 of 10 10.0/ 10.0 Points
In your own words, what is a venture capitalist?
, BUSN 100/Mid-Term Exam
A venture capitalist (VC) is an outside investor that can provide the
necessary capital to finance a new, growing, or troubled business. The
venture capitalist has the ability to offers the much needed funding to a
business. They assume a great deal of risk entering into these
investments but if all goes well, they could turn a significant profit.
VC’s are typical looking for businesses that have the potential of having
long term financial growth, so instead of offering the capital as a loan,
they are looking for gaining an equity stake.
Question 3 of 10 10.0/ 10.0 Points
In your own words, explain three of the nine building blocks for
managers to use in developing an innovative and effective business
model.
Three of the nine building blocks for managers to use in developing an
innovative and effective business model are:
• The target customer segments addressed by the value proposition-
Unfortunately no business is going to be able to cater to everyone or
anyone customer or segments .Business Models that utilizes target
customer segments are allowed to focus a selected group of potential
customers and work on marketing strategies aimed at reaching them
with the best messages to peek their interest.
• The relationships established with customers- Managers must serve
and encourage the development of positive relationships between
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller HIGHSCORE. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $15.49. You're not tied to anything after your purchase.
