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Quiz 1 - Finals

Quiz 1

An ___________ refers to the environment in which the business operates – including competitors,
consumers, resources, government regulations, political, economic, cultural and social variables, all of
which have an impact on the way a product is designed and used and the business entity is run.

Ecosystem

There is a common belief in the _____________, an inherent DNA to work hard and against all odds, a
coming together of people with myriad skillsets and resources that are critical for the success of the
venture.

Potential of the tech product

_____________ is a new breed of entrepreneurship.

Technoprenuership

Unlike _____________ this is seldom a one-man show – the success of Technopreneurship hinges on
how well the team functions together.

Entrepreneurship

It involves a coming together of people who are intelligent, driven, creative, tech-savvy and passionate
and have an appetite for calculated risk.

Technopreneurship
Quiz 2

The idea needs to work for the greater common good – it doesn’t need to be a ______________.

Global blockbuster

A technopreneur constantly learns and improves, innovates and disrupts the workings of people,
organizations and ______________.

Nation as a whole

Technopreneurship is an expensive exercise and Technopreneurs need to work without pay until their
ideas become ______________

Commercially viable

Technopreneurship begins with the customer experience and works backward to arrive at the
technology to provide that _______________.

Customer experience

For a _____________, it is not as much about the money as it is about the affirmation that the ‘idea’ is a
worthy one and that it works.

Technopreneurship
Prelim Exam

He defies existing practices and systems and thinks of doing things differently.

Technopreneurship

_______________ is an entrepreneurial venture which is typically a newly emerged business that aims
to meet a marketplace need by developing a viable business model around a product, service, process or
a platform.

Start-up

A _____________ starts out with nothing but an ‘idea’.

Technopreneurship

An ______________ is a person who identifies an opportunity, converts it into a product or service,

estimates earnings and profit and builds a successful business with it.

Entrepreneurship

He creates a product or solution that uses the heft and capability of technology to change the way
something was traditionally done.

Technopreneurship
Mquiz 1/ Quiz 3

Businesses are obligated to produce an annual set of accounts.

Accounts

Amounts of money owed by your company to external suppliers.

Accounts payable

The time for which profits are being calculated, normally months, quarters or years.
Accounting period

Money owed to your company by customers.

Accounts receivable

The purchase of one company or resources by another.

Acquisition

Mquiz 2/ Quiz 4

A retailer or service provider advertising its goods or

Answer 1
services via a third party in return for a commission on
Affiliate marketing
any sales.
A business going into administration, meaning that a
Answer 2
business has gone bankrupt and its creditors can get in
Administration
touch to try and claim any money they are owed.
This is the rate of interest you agree to pay on money Answer 3
borrowed. The higher the amount, the more you will pay. Annual percentage rate (APR)
A quote of what interest paid on savings and investments
would be. It is calculated by adding each interest Answer 4
payment to the original deposit, then working out the Annual equivalent rate (AER)
next interest payment, compounding the interest.
Their role is to calculate accident rates, life expectancy Answer 5
and the relevant payouts. Actuary
Midterm

Building a start-up company with very little money, often

relying on personal savings and pushing for the lowest Answer 1
possible operating costs, while implementing cost-saving Bootstrapping
systems such as fast inventory turnaround.
Answer 2
Money spent to create future benefits.
Capital expenditure (CAPEX)

Answer 3
The movement of cash into and out of a business.
Cash flow

The point in time when you will have paid back all your Answer 4
debts, or when revenues exactly match expenses. Break-even point

Also known as an angel investor. An individual who

Answer 5
provides capital for a business start-up in return for a stake in
Business angel
the company.

Fquiz 1/ Quiz 5

Answer 1
An official inspection of a company’s, or individual’s, accounts.
Audit

This is a type of insurance policy. Upon retirement a lump sum is paid Answer 2
into it and the insurance company then provide a regular income. Annuity

Answer 3
Business to business.
B2B

The process by which a person or business takes advantage of the Answer 4

difference in price of a share or a currency. Arbitrage

Answer 5
Property that has value owned by a company.
Assets
Fquiz 2/Quiz 6

Answer 1
This influences financial products and services when they set their
own cost of borrowing.
Base rate

Answer 2
A ‘snapshot’ of a company’s assets, liabilities and capital at a
particular point in time.
Balance sheet

Answer 3
The buying (offer) and selling (bid) price of shares, bonds or
currency.
Bid-offer spread

Answer 4
This term originates from poker as blue chips are traditionally the
highest-valued.
Blue chip

It is called this because before people ventured to Australia, swans

were assumed to only be white. No one had seen a black one until
then. Answer 5
Black sw an
Finals

This is a form of self-regulation, where

companies integrate social, environmental and Answer 1
ethical policies into their overall business Corporate social responsibility (CSR)
strategy.
This is any item which can be freely bought and
Answer 2
sold. Examples include gold, food products and
Commodity
coffee beans.
When new products, services, customers or Answer 3
markets are added to your company’s portfolio. Diversification

This is the term used to describe an increase in

the amount of goods and services produced by Answer 4
the county, known as gross domestic product Economic grow th
(GDP).
A person or firm that has lent your business Answer 5
money or to whom you owe money. Creditor

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