Entrepreneurship Business Planning and Strategy 3

Question 1

What is a 'go-to-market strategy'?

Accepted Answer

A plan for entering a new geographic market with a product or service

Answer

A financial audit process

Answer

A legal compliance checklist

Answer

An employee onboarding program

Question 2

What is a milestone in a business plan?

Accepted Answer

A specific, measurable goal with a deadline used to track progress

Answer

A major investor in the company

Answer

A monthly sales report

Answer

A type of intellectual property filing

Question 3

What does 'burn rate' refer to in a startup context?

Accepted Answer

The rate at which a startup spends its cash reserves each month

Answer

The speed at which a company hires employees

Answer

The rate of customer churn in a subscription business

Answer

The depreciation rate of physical assets

Question 4

What is 'runway' for a startup?

Accepted Answer

The period of time a company can operate before running out of cash

Answer

The physical space needed for manufacturing

Answer

A marketing launch timeline

Answer

The number of months until product launch

Question 5

What is 'product-market fit'?

Accepted Answer

When a product satisfies strong demand in a specific target market

Answer

When a product is legally approved for sale

Answer

When a product is priced competitively

Answer

When a product is manufactured at scale

Question 6

What is a pivot in the context of entrepreneurship?

Accepted Answer

A fundamental shift in a startup's business strategy or product direction

Answer

Changing your company's legal structure

Answer

Relocating your business headquarters

Answer

Firing the founding team and hiring new leadership