BUSN 100/Mid-Term Exam
BUSN 100/Mid-Term Exam
Question 1 of 10 10.0/ 10.0 Points
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
BUSN 100/Mid-Term Exam
Question 1 of 10 10.0/ 10.0 Points
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
