Ultimate Startup Quiz for Entrepreneurs – Test 1

A leadership grid, also known as a management grid, is a tool for determining leadership style. It is a graphical tool for evaluating leader behavior along two basic attributes concern for results and concern for people. The idea dates to the 1960s and has been developed by Robert Blake and Jane Mouton.

Seed capital is the funding that is needed to get started with a new business. This initial funding, usually comes from the business owners or friends and family to support preliminary activities such as market research, product research and development (R&D) etc.

Emphasis needs to be placed equally on both areas of management and leadership if an organization wants to thrive or find success.

An organizational structure is a system that outlines how certain activities are directed toward achieving an organization's objectives. This may involve laws, positions, and responsibilities. The organisation's framework therefore defines how knowledge moves within the organization across stages and may actually lead to make much better decisions for your business when it comes to its long term investment goals.

In simple words, data mining is defined as a process used to extract usable data from a larger set of any raw data to learn about target markets or segments and behaviorial attributes of customers.

The role of an Entrepreneur strictly involves the generation of employment opportunities

By running your own startup business, you're embracing the opportunity to shape the future. As an employee of a company, you will be building someone else's definition of succes, after all.

Benchmarking is the actual practice of comparing business processes and performance metrics to industry best practices from other companies.

The primary reason amongst others why people start their own business is to survive finacially and slowly or quickly proceed from survival mode to growth mode.

Concierge' is a technique to test the solution of a user problem by manually performing tasks as a service. Typically it is inefficient in terms of cost effectiveness, but can provide exhaustive information about how a solution can be created.

Preferred Stock' is the stock that entitles the holder to a fixed dividend, whose payment takes priority over that of ordinary share dividends, after all. It is also the American term for 'Preference Share'.

Intrapreneurship is a system which allows an employee to act like an entrepreneur within an organization. It is also the combination of 'intra' meaning within the company or corporate and 'preneur'.

Venture Capital is the managed funds that buy stakes, usually in private companies, to help the organization realise their growth potential.

The primary goal of a startup is to search for a scalable, repeatable and profitable business model

Lean startup is a strategic approach to building new businesses based on the belief that entrepreneurs must investigate, experiment, test and iterate as they develop new products. The primary three steps entrepreneurs can take to begin building a lean startup are to Find, Execute, and Validate

The media industry has led the way as it did in 2019, averaging more than 6 million subscribers per brand channel.

For a successful business plan the goals must be measurable or what we call as 'specific'. Specific goals help to measure your progress in a systemized way towards the accomplishment of the goal.

A micro-enterprise (or microenterprise) is generally defined as a small business or company employing nine people or fewer

The main goal of a social entrepreneur is not to earn wealth, but rather to implement good improvements in society that are widespread. However, a social entrepreneur must still be financially capable to succeed in his or her cause.

A type of business that is not considered to have a potential to generate income and to provide employment is called as a survivalist business. The existence of such types of businesses is often crushed by literature as they are perceived to be businesses that are doomed for only failure.