MBA Entrepreneurship

Question 1

What is a 'business model canvas' used for?

Accepted Answer

A one-page strategic framework for visualizing the nine building blocks of how a business creates, delivers, and captures value

Answer

Designing the physical layout of a business office

Answer

A detailed financial projection model for investors

Answer

A legal document for establishing a company

Question 2

What is 'lean startup' methodology?

Accepted Answer

A methodology that emphasizes rapid experimentation, validated learning, and iterative product development to reduce waste

Answer

Starting a business with minimal employees

Answer

A franchise model for small businesses

Answer

A bootstrapping approach to avoid venture capital funding

Question 3

What is a 'minimum viable product' (MVP)?

Accepted Answer

A product with just enough features to be released to early adopters to validate a business hypothesis with minimal resources

Answer

The lowest quality product version acceptable for mass production

Answer

A prototype that only investors get to see

Answer

The cheapest version of a product you can manufacture

Question 4

What is 'venture capital' (VC)?

Accepted Answer

Private equity investment provided to early-stage, high-growth-potential startups in exchange for equity ownership

Answer

A bank loan provided to established companies

Answer

Government grants given to small businesses

Answer

Angel investment provided by individual wealthy investors

Question 5

What is 'bootstrapping' in entrepreneurship?

Accepted Answer

Building and growing a business using personal savings and revenue generated by the business without external funding

Answer

Borrowing large amounts from banks to fund rapid growth

Answer

Acquiring funding from multiple venture capital firms

Answer

Licensing a business model from an established company

Question 6

What is a 'pivot' in startup terminology?

Accepted Answer

A structured change in business strategy based on validated learning — adjusting the product, market, or model while keeping core learnings

Answer

Expanding the company's geographic reach

Answer

Replacing the founding team with experienced managers

Answer

Merging with a competitor to achieve scale