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Question
Which section of the business plan is used for initial screening and provides the starting point for the venture-capital process?A.The executive summary
B.The industry and market analysis
C.The mission statement
D.Strategic plan
Answer
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Adaptations necessary to meet changes in market demand are difficult because an organization resists change.
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First movers suffer a cost disadvantage as they are not able to move down the experience curve.
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The knowledge needed to generate innovation cannot be easily learned from a textbook.
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The costs that must be borne by customers if they are to stop purchasing from the current supplier and begin purchasing from another is(are):
A.customer switching costs.
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C.resource costs.
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The U.S. Chamber of Commerce and Small Business Development Centers are good places to get information and assistance in starting a new business.
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A.Parameter analysis
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The entrepreneur should always design and build his own webpage to maintain strategic control.
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