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Small Business Analysis Models Chapter Exam

Exam Instructions:

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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Question 1 1. What does SWOT stand for?

Question 2 2. In a situational analysis, what areas of the business need to be analyzed?

Question 3 3. In a SWOT analysis, the columns describe _______ and the rows describe _______:

Question 4 4. What is a situational analysis in marketing?

Question 5 5. What is the main aim of the BRIE model?

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Question 6 6. If a business is looking for investors online, which element of BRIE is involved?

Question 7 7. Which of the following would be a task that fits into the 'Intention' element of the BRIE model?

Question 8 8. Which element of the BRIE model is concerned with setting up a business website?

Question 9 9. Which of the following is a major characteristic of innovative business models?

Question 10 10. How does lack of funding affect innovative businesses?

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Question 11 11. Which of the following is an important characteristic of imitative companies

Question 12 12. Which of the following is an advantage of promoting creativity in innovative business models?

Question 13 13. What must be done before a PERT analysis can take place?

Question 14 14. Joe's supervisor has asked how long it will take for him to finish a project. Joe anticipates a 'best case' scenario of 4 hours, a 'worst case' scenario of 8 hours, and a 'probable' scenario of 5 hours. Using the formula to calculate 'Expected Time', Joe should tell his supervisor the project will take _____.

Question 15 15. Optimistic Time is defined as _____.

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Question 16 16. What does PERT stand for?

Question 17 17. The acid ratio is also known as the:

Question 18 18. Which of the following is a computation used to measure a company's ability to pay its short term debt?

Question 19 19. What is the cash ratio for a company with $10,000 in the bank, $25,000 in the 30-day CDs, and $30,000 in current liabilities?

Question 20 20. A company has $35,000 in current assets, $15,000 in long term assets, $25,000 in current liabilities and $45,000 in long term liabilities. What is its current ratio?

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Question 21 21. What things do you need to consider when calculating the average cost to make each product?

Question 22 22. What does it mean when you have a BEQ of 400?

Question 23 23. Calculate the BEQ when you have a fixed monthly cost of $2000, an average cost per product of $20 and an average sales price per product of $50.

Question 24 24. What three things do you need in order to perform a break-even analysis?

Question 25 25. Why is it important for companies to evaluate managerial decisions using a SWOT Analysis?

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Question 26 26. Why is environmental scanning used in marketing?

Question 27 27. Jessica has just conducted a SWOT analysis of her firm. What should her next steps be?

Question 28 28. Why is a unique selling proposition important for a company?

Question 29 29. Why would we prepare a situational analysis?

Question 30 30. If an entrepreneur has an innovation that needs to be patented, which element of the BRIE model would that task come under?

Small Business Analysis Models Chapter Exam Instructions

Choose your answers to the questions and click 'Next' to see the next question. You can skip questions if you would like and come back to them later with the "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. You will lose your work if you close or refresh this page. Good luck!

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