Which of the following is NOT a physical measure to protect trade secrets Quizlet
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Fundamentals of Engineering Economic Analysis1st EditionDavid Besanko, Mark Shanley, Scott Schaefer 215 solutions Raising money for a start-up is _______. a balancing act Many entrepreneurs launch their firms with the intention of funding all their needs ____. internally Many entrepreneurs go about the task of raising capital haphazardly because they lack experience in this area and because they ______. don't know much about their choices Entrepreneurs need to have as full an understanding as possible of the _____ with regard to raising money. alternatives that are available A company's _____ is the rate at which it is spending its capital until it reaches profitability. burn rate It typically takes between ______ to develop an electronic game. 2 and 4 years There are three reasons that most entrepreneurial ventures need to raise money during their early life: cash flow challenges, _____, and lengthy product development cycles. capital investments In the prescription drug industry, the path from the research lab to the patient takes an average of _____ years. 10 In some industries, firms need to raise money to pay the up-front costs of _______. lengthy product development cycles Because many founders do not have a substantial amount of cash to put into their ventures, it is often ______ that make(s) up the difference. sweat equity _____ is the term attached to the general philosophy of minimizing start-up expenses by aggressively pursuing cost-cutting techniques and money-saving tactics. Bootstrapping According to Fundable, the average amount invested out of an entrepreneur's friends and family is $ _____. 23,000 Which of the following is NOT a bootstrapping method? Buying independently of other businesses. According to Fundable, on average, _______ percent of start-ups are funded by friends and family. 38 A(n) _____ is an occurrence that converts some or all of a company's stock into cash. liquidity event Which of the following is NOT a topic you should speak about in a 60-second elevator pitch? How quickly you will be profitable. Once a start-up's financial needs exceed what personal funds, friends and family, and bootstrapping can provide, _________ and ________ are the two most common sources of funds. debt; equity Equity financing means exchanging partial ownership of a firm, usually in the form of ____, in return for funding. stock What is the typical time horizon for equity investors to get their money back? 3-5 years The three most common liquidity events for a new venture are when ______, finds a buyer, or merges with another company. it goes public A(n) ______ is the first sale of stock by a firm to the public. IPO The ______ process refers to investigating the merits of a potential venture and verifying the key claims made in the business plan. due diligence Angel investors typically invest in companies that have the potential to grow _____ percent to ______ percent per year before they are acquired or go public. 30; 40 The venture capitalists who manage the venture fund are called _____. general partners If the Matrix venture capital firm raised a $100 million fund and then the fund grew to $500 million and the carry was 20 percent, the carry amount would be $_____ million. 80 (total- inital x %) Investments made very early in a venture's life to fund the development of a prototype and feasibility analysis are called _______ money. seed Anthurium Florals borrowed $100,000 from a bank that had to be paid back at $10,000 per month with a 6 percent interest. This was a ______. single-purpose loan (a type of start-up loan) Anthurium Florals needed cash and so it sold its $50,000 in accounts receivable to Omega Financing at a 20 percent discount. The financial transaction that Anthurium Florals did is called _____ . factoring There are two common types of loans: a single-purpose loan and a(n) ______. line of credit In a _____, the lender provides a business a lump sum of money in exchange for a share of future sales that covers the payment amount plus fees. merchant cash advance Vendor credit is also known as _____. trade credit The standard terms for The Spice Market, a retailer of a variety of spices, is to order products from vendors that are shipped on net 30 terms. This means The Spice Market is getting _____. vendor credit _____ is the practice of funding a project or new venture by raising monetary contributions from a large number of people, typically via the Internet. Crowdfunding There are two types of crowdfunding sites: _____ and equity-based crowdfunding. rewards-based The major advantage of _____ is that it enables a company to acquire the use of assets with very little or no down payment and no loss of ownership. leasing The SBIR program is a competitive grant program that provides over $____ per year to small businesses for early-stage and developmental projects. 2.5 billion Historically, less than ___ percent of Phase I SBIR proposals are funded. 15 Studying the industry in which the firm wants to compete and determining the different target markets in that industry is called ______. market segmentation Benefits sought is a _____ variable in market segmentation. behavioral In market segmentation, ____ is an example of a psychographic variable. lifestyle SheCode in Chicago, Illinois targets serious female high school students with an A in sophomore math who aspire to earn a living writing computer code. SheCode is going after a(n) ____ market. niche Which of
the following is NOT a requirement for successful market segmentation? B. The segment should be large enough for the firm to earn profits. C. Homogeneity of needs and wants appears between the segments. D. The segments should be distinct enough so that their members can be easily identified. E. It should be possible to determine the size of the segment. C. Homogeneity of needs and wants appears between the segments. "Between love and madness lies Obsession" is an example of a (an) ______. tagline Which of the following statements about a brand is NOT true? B. A brand is a firm's guarantee of a level of performance. C. A brand is a promise to serve shareholders' interests. D. A brand describes a company's future. E. A brand expresses a firm's reputation. C. A brand is a promise to serve shareholders' interests. Which of the following is NOT a way people think about the meaning of a brand? B. A brand presents a firm's credentials. C. A brand is a firm's guarantee of a level of performance. D. A brand expresses a firm's reputation. E. A brand indicates the price of the product E. A brand indicates the price of the product. A successful brand can increase the market value of a company by ____ percent to ____ percent. 50; 75 Some companies monitor the integrity of their brands through _______. brand management Which of the following is NOT a category that makes up brand equity? B. Brand associations in addition to quality C. Perceived quality D. Brand loyalty E. Name recognition A. Market Share A firm's _____ is the set of controllable, tactical marketing tools that it uses to produce the response it wants in the target market. marketing mix Brenda Morales is in the business of sewing garments for special occasions. If her product cost is $50, she adds a 25 percent markup to it to determine her selling price. Brenda's pricing method is called _____. cost-based The 4 Ps of marketing are ____, price, promotion, and place. product A perfume costs $5 to produce but the company making it sells it for $75. They are using ____ pricing. value-based ____ is making people aware of a product in hopes of persuading them to buy it. Advertising A firm's ____ depicts the steps it goes through to identify prospects and close sales. sales process Which is the last step in the seven-step sales process? Follow up The first step in the seven-step sales process is ____. prospecting Which of the following is NOT a step in the sales process? B. Qualifying the lead C. Prospecting D. Follow-up E. Make the initial contact A. Pricing the product Why do most new ventures need financing or funding? Cash flow challenges, Capital investments, and lengthy product development cycles _________, trademarks, copyrights, and trade secrets are the four key forms of intellectual property. Patents Intellectual property is any product of human intellect that is ____ but has value in the marketplace. intangible An example of intellectual property typically present in a firm's management department would be ____. Recruiting brochures Which of following is NOT a common mistake firms make with regard to intellectual property? B. Not using their intellectual property to sell more products. C. Not legally protecting the intellectual property that needs protecting. D. Not fully recognizing the value of their intellectual property. E. Not properly identifying all their intellectual property. B. Not using their intellectual property to sell more products. A ____ is a grant from the federal government conferring the rights to exclude others from making, selling, or using an invention for a specific term. patent _______ patents are the second most common type of patent. Design The average time for approval of a patent in 2016 was ___ months. 25.3 (<30) The term of a utility patent is ____ from the date of the initial application. 20 years The least common type of patent application is for ____ patents. plant Amazon's "One-Click" shopping model is an example of a ___ patent. business method A _____ is any word, name, symbol, or device used to identify the source or origin of products or services and to distinguish those products or services from others. trademark _____ marks are trademarks or service marks used by the members of a cooperative, association, or other collective group, including marks indicating membership in a union or similar organization. collective Nike's "swoosh" logo is protected by a ____. trademark There are four types of trademarks: ____, service marks, collective marks, and certification marks. trademarks Which of the following is NOT protected under trademark law? B. Numbers C. Literary works D. Sounds E. Fragrances C. Literary works Which of
the following is NOT a notable exclusion from trademark protection set forth in the U.S. Trademark Act? B. Deceptive matter C. Surnames D. Immoral or scandalous matter E. Shapes E. Shapes A ___ is a form of intellectual property protection that grants to the owner of a work of authorship the legal right to determine how the work is used and to obtain the economic benefits from that work. copyright When Alex Smith's book on a pair of teenage detectives was published, it was found to be substantially similar to an earlier work by popular author, Huck Andrews. This is an example of ________ infringement. copyright ____ protect intellectual property such as a book or a play. Copyrights Which of the following cannot be protected by a copyright? A book idea ______, which are new renditions of something that is already copyrighted, are also copyrightable. derivative works In a published review of a book, the reviewer quotes a line from the book. The reviewer is not infringing on copyrighted material because of _____ use. fair Lofty Ambitions rents lofts on short-term leases in various major U.S. cities. It developed a unique pricing formula based on a set of factors. Lofty Ambitions believes that its pricing formula gives it a competitive advantage. Lofty Ambitions' pricing formula is its ________. trade secret Which of the following is NOT a commonly-used physical measure for protecting trade secrets? B. Restricting access C. Password-protecting confidential computer files D. Labeling documents E. Suing aggressively for trade secret breaches E. Suing aggressively for trade secret breaches Trade secrets include marketing plans, product formulas, financial forecasts, employee rosters, logs of sales calls, and _____. laboratory notebooks Which of the following is NOT a criterion to make a case for trade secret
protection? B. Can be easily duplicated, reverse-engineered, or discovered. C. Is known only inside the company on a "need-to-know" basis. D. Is valuable and provides the company a compelling competitive advantage. E. Is not known outside the company. B. Can be easily duplicated, reverse-engineered, or discovered. In trade secret cases, memorization is _____. not a defense The first step a firm should take to protect its intellectual property is to complete an intellectual property ___. audit Which of the following is NOT a question to ask when conducting an intellectual property audit of a firm's trademarks? B. Do we need additional trademarks to cover new products and services? C. Do we intend to expand the use of trademarks in other cities? D. Are we using any names or slogans that require trademark protection? E. Do we intend to expand the use of trademarks in other countries? C. Do we intend to expand the use of trademarks in other cities? Which of the following
is NOT a question to ask when conducting a patent audit? B. Do we have any business methods that should be patented? C. Are our patent logs up to date? D. Are current patent maintenance fees up to date? E. Do we own any patents that are no longer consistent with our business plan that could be sold or licensed? C. Are our patent logs up to date? Which of the following is NOT a question to ask when conducting a copyrights audit? B. Is proper documentation in place to protect the company's rights to use the material it creates or pays to have created? C. Is there a policy in place regarding what material needs the copyright bug and when the bug is to be put in place? D. Are we in compliance with the copyright license agreements into which we have entered? E. Is fair use doctrine an issue we have to address? E. Is fair use doctrine an issue we have to address? Which of the following is NOT a question to ask when conducting a trade secrets audit? B. Is there a policy in place to govern the use of nondisclosure and noncompete agreements? C. Are employees who do not have a "need to know" routinely provided access to important trade secrets? D. Are company trade secrets leaking out to competitors? E. Are external security arrangements adequate to protect the firm's intellectual property? E. Are external security arrangements adequate to protect the firm's intellectual property? Engine design is what the Honda Motor Company does particularly well. This is Honda's _____.. core competency Which of the following is NOT a warning sign that a business is growing too fast? B. Rising productivity C. Borrowing money to pay for routine operating expenses D. E-mail and text messages start going unanswered. E. Those working with the business's financial structure are starting to worry. B. Rising productivity In an Inc. magazine study of the more than 100,000 midmarket companies, ____ percent achieved sustained growth. 1.5 3M's core strategy is largely determined by adhesion technology, its core competency, or ________. what it does particularly well Which of the following is NOT a warning sign that a business is growing too fast? B. Employees dread coming to work. C. Profit margins are wide. D. Customer complaints are up. E. Operating in a "crisis" mode becomes the norm rather than the exception. C. Profit margins are wide. Businesses that are based on providing high levels of individualized service often _______. don't scale well Scope vs. Scale Sell current product to new people or Sell similar or related products (scope) to current customers Which one of the following is NOT an appropriate reason why firms try to grow? B. Economies of scale C. Market leadership D. Influence, power, and survivability E. Economies of scope A. Financial rewards The advantage a firm accrues through the range of its operations rather than from its scale of production is called economies of _____. scale It costs Jamie's Salon $10,000 per month to rent its store. The rental cost is ___________. fixed A company's sales force may be able to sell 10 items more efficiently than 5 because the cost of travel and the salesperson's salary are spread out over 10 products rather than 5. This is an example of economies of ___. scope Economies of scale come from spreading ___ costs over a greater number of units. fixed The majority of businesses go through a discernable set of stages referred to as the ______. organizational life In which stage in the organizational life cycle does growth slow down? Maturity The stages in the organizational life cycle are introduction, ____, continuous growth, maturity, and decline. early growth Innovation slows in the ____ stage of the organizational life cycle. maturity The last stage of the organizational life cycle is ________. decline Acquisition opportunities become important in the ___ stage of the organizational life cycle. maturity A firm's _____ set is the set of opportunities the firm feels it's capable of pursuing. productive opportunity Acme Corp. finds that as the number of employees it needs increases, it becomes increasingly difficult for the company to find the right employees, place them in appropriate positions, and provide adequate supervision. The problem that Acme Corp. faces is called _____. adverse selection ____ services administer the routine functions of the firm and facilitate the profitable execution of new opportunities. Managerial
The faster a firm grows, the less time managers have to evaluate the suitability of job candidates and the greater the chances are that an unsuitable candidate will be chosen. This is a ____. adverse selection The ____ problem creates a hierarchy that is costly to operate. moral hazard As a firm grows, it requires an increasing ____ to service its customers. number of people Internally generated growth is often called ____ growth because it does not rely on outside intervention. organic Which of the following is NOT an external growth strategy? B. International expansion C. Strategic alliances D. Mergers and acquisitions E. Licensing B. International expansion Organic growth is _______. internally generated Which of the following is NOT a reason why new products fail? B. The company has a poor business model. C. Customers saw the product as too expensive. D. The costs of developing the product line were too high. E. The potential market was overestimated. B. The company has a poor business model. The average product life cycle in the computer software industry is ____. 14-16 months Angie's Pretzels, an extremely successful chain of 77 stores in the U.S., grew internationally by granting permission to companies in various European countries to use its intellectual property and trade name to do business. Angie's Pretzels growth strategy is called ________. licensing A ____ strategy involves making additional versions of a product so that it will appeal to different clientele or making related products to sell to the same clientele. product line extension All of Orlando, Florida-based The Trinity Hospital's medical transcription work is done by an independent company in India. This is an example of ___. outsourcing A(n) ____ strategy involves actions taken to increase the sales of a product or service through greater marketing efforts or through increased production capacity and efficiency. market penetration Geographic expansion is a(n) _____ strategy. internal growth Zipcar, the popular car-sharing service, recently launched FastFleet, a service to help cities more efficiently use cars in their fleet. This is an example of a(n) _____ strategy. product line extension Approximately _ percent of the total world's population lives outside the United States. 95.6 "_____" view the world as their marketplace rather than confining themselves to a single country. Born globals Approximately ___ percent of the world's purchasing power is located outside the United States. 70 In terms of individual businesses, ____ percent of all U.S. exports are accounted for by small businesses. 97 Which of the following is NOT an issue used in evaluating a firm's overall suitability for growth through international markets? B. Foreign currency risk C. Product issue D. Viability of business model E. Distribution issues D. Viability of business model The primary disadvantage of franchising as a foreign market entry strategy is ____. quality control To become more competitive, Jamie's Automotive Repairs and Andy's Garage combined their firms to form one company. In other words, the two companies were involved in a(n) _____. merger In a licensing agreement, the ____ is the company that owns the intellectual property. licensor Which of the following is NOT a step involved in an acquisition? B. Actively negotiate with the target firm. C. Schedule a meeting with the target firm's executives. D. Move forward with the plan for adding the acquired firm to the organization. E. Hire an attorney to prepare the closing documents. A. Examine the target firm's business model. Which of the following is NOT a disadvantage of participating in a strategic alliance? B. Financial and organizational risks. C. Management complexities. D. Loss of proprietary information. E. Partners' cultures may clash. A. Neutralizing or blocking competitors. In a ____ joint venture, the position of the parties is not symmetrical, and the objectives of the partners may diverge. link In a ___ joint venture, the partners collaborate at a single point in the value chain. scale |
