Business Value & Entrepreneurship — Practice Test (MC Only)
Student Name:
January 28, 2026
, Multiple Choice
Instructions: Choose the one best answer.
1. Which item is not a typical component of a business plan?
a) Executive summary
b) Market opportunity
c) Management team
d) Patent litigation strategy
2. Which statement best reflects the definition of a business model?
a) A detailed marketing campaign plan for a single product
b) A conceptual tool expressing business logic and value delivery to a target segment
c) A list of competitors and their market shares
d) A financial statement that reports historical performance only
3. In the Business Model Canvas, “Customer relationships” primarily focuses on:
a) The firm’s internal cost allocation
b) How the venture acquires and retains customers and builds lifetime value
c) The legal structure of the company
d) Supplier contract negotiation tactics
4. In the Balanced Scorecard, which perspective emphasizes building infrastructure for long-term
growth and improvement?
a) Financial
b) Customer
c) Internal Process
d) Learning & Growth
5. Which condition increases the threat of new entrants in Porter’s Five Forces?
a) High capital requirements and strong brand loyalty
b) Unequal access to distribution channels
c) Low entry barriers and limited retaliation expected
d) Restrictive government policy
6. Which factor strengthens supplier power?
a) Many close substitute inputs
b) Low switching costs for buyers
c) Suppliers can credibly threaten forward integration
d) Highly standardized supplier products
2
Student Name:
January 28, 2026
, Multiple Choice
Instructions: Choose the one best answer.
1. Which item is not a typical component of a business plan?
a) Executive summary
b) Market opportunity
c) Management team
d) Patent litigation strategy
2. Which statement best reflects the definition of a business model?
a) A detailed marketing campaign plan for a single product
b) A conceptual tool expressing business logic and value delivery to a target segment
c) A list of competitors and their market shares
d) A financial statement that reports historical performance only
3. In the Business Model Canvas, “Customer relationships” primarily focuses on:
a) The firm’s internal cost allocation
b) How the venture acquires and retains customers and builds lifetime value
c) The legal structure of the company
d) Supplier contract negotiation tactics
4. In the Balanced Scorecard, which perspective emphasizes building infrastructure for long-term
growth and improvement?
a) Financial
b) Customer
c) Internal Process
d) Learning & Growth
5. Which condition increases the threat of new entrants in Porter’s Five Forces?
a) High capital requirements and strong brand loyalty
b) Unequal access to distribution channels
c) Low entry barriers and limited retaliation expected
d) Restrictive government policy
6. Which factor strengthens supplier power?
a) Many close substitute inputs
b) Low switching costs for buyers
c) Suppliers can credibly threaten forward integration
d) Highly standardized supplier products
2
