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General Information

Test name: EXAMEN BLACN

Description:

Exam version ID: 117148 Exam Version Code:

Creator: Samuel D'Ours

Candidate: Chloé N’Sankhu Midha Epia

Started: Jul-04-2023 05:13 PM CEST

Finished: Jul-04-2023 05:33 PM CEST

Grading information

Result: Passed

Passing mark: 70.00%

Score: 70.83%

Total points: 120.00

Achieved points: 85.00

Verified: Not verified

Number of questions: 24

Number of correct questions: 17

Number of incorrect questions: 7

Number of not graded questions: 0

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Test version - 40 - 100234

1 of 24 Single choice Score: 0.00/5.00

There are several methods to evaluate a business idea. Identify the method described below:The study and analysis
of what makes the product or service special/unique in comparison with other similar in the market.

1. Competitive advantage analysis

2. Analyse the business idea

3. Market analysis

4. Financial feasibility analysis

2 of 24 Single choice Score: 5.00/5.00

Which of the following should be the main characteristics of a business idea?

1. Fulfil the customers’ need – solve a problem

2. Be profitable

3. Stand out from the ideas of the competition

4. All the above

3 of 24 Single choice Score: 5.00/5.00

Some say that successful innovation is essentially about positive change.

Henry Ford’s introduced the world’s first moving assembly line in 1913. This process change not only simplified
vehicle assembly but shortened the time necessary to produce a single vehicle from 12 hours to 90 minutes.
In this case innovation was achieved through ...

1. Creating a new product/service

2. Changing the way a product/service is produced

3. Re-positioning a product/service in the market

4. None of the above

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4 of 24 Single choice Score: 5.00/5.00

We are in a brainstorming session. While one member of the group presents his idea, another member starts
making comments on why the idea will not work. In this situation, which of the following basic rules for brainstorming
is broken?

1. Combine ideas and improve them

2. Unusual ideas are welcome

3. Focus on quantity

4. No criticism

5 of 24 Single choice Score: 5.00/5.00

What is a business plan?

1. A description of the idea behind the business start-up and the steps to be taken to implement it

2. A description of the goods and materials a business holds for the ultimate purpose of resale

3. A document explaining the company history and background

4. A short description of business’s products and services

6 of 24 Matrix Score: 5.00/5.00

What are the Do’s and Don'ts of writing a business plan? Match correctly!
(Please note that this is a single question – 1 point in total)

Subquestions will be shown below

Answer key questions

1. Don't

2. Do

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Always overestimate revenues

1. Don't

2. Do

Discuss the experience and skills in detail

1. Don't

2. Do

State the amount of funds requested if the plan is used to obtain financing

1. Don't

2. Do

7 of 24 Single choice Score: 5.00/5.00

Which of the following factors has an influence on the choice of a company’s organisational structure?

1. The technology of the organisation

2. The environment of the organisation

3. The size of the organisation

4. All answers are correct

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8 of 24 Single choice Score: 0.00/5.00

There are skills that can improve employability.Read the statement below and identify the corresponding skill:A
person copes well with difficulties and problems.

1. Ability to take initiative

2. Willingness to compromise

3. Ability to work under pressure

4. Excellent comprehension and retention

9 of 24 Single choice Score: 0.00/5.00

There are several methods used to help generate new ideas. Which method are we talking about?
A method for generating as many ideas as possible by saying or writing down the first thing that comes to mind.

1. Problem inventory analysis

2. Brainstorming

3. Market research

4. Focus Groups

10 of 24 Single choice Score: 5.00/5.00

You have to communicate the benefits of a product or a service to your customers if you want to generate sales and
profits. Advertising is …

1. The process of communicating persuasive information about a product to the markets

2. The means by which the organisation relates or communicates with the environment

3. The process by which the seller sells to the consumer face to face

4. A form of direct promotion making use of incentives

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11 of 24 Single choice Score: 0.00/5.00

There are several kinds of intellectual property protection. What does copyright mean?

1. The right to commercialize a product/service, also at international level

2. The creators hold the exclusive right to use or to authorise others to use the work on agreed
terms
3. An exclusive right granted for an invention, a product or process that provides a new way of
doing something
4. A distinctive sign that identifies certain goods or services produced or provided by an individual
or a company

12 of 24 Single choice Score: 5.00/5.00

Which of the following information is reported in the income statement?

1. The company’s assets: the resources from which it expects to gain future benefit

2. The company’s liabilities: the debts that it owes to outside individuals or organisations

3. The company's financial performance over a specific accounting period

4. Its owners’ share capital: the amount that has been invested by its owners

13 of 24 Single choice Score: 5.00/5.00

The statements you find below are all examples of clear and effective mission statements:“To organize the world’s
information and make it universally accessible and useful” (Google)“To create lasting solutions to poverty, hunger,
and social injustice” (Oxfam)“To bring inspiration and innovation to every athlete in the world” (Nike)What do they all
have in common?

1. Each of them shows how much profit the company earns

2. They are focused on the production process and its customers

3. They are clear and concise and explain the purpose of the company

4. They explain the responsibilities within the organization and its structure

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14 of 24 Single choice Score: 0.00/5.00

Anthony opened a bakery that focuses on building employment skills for underemployed groups, such as at-risk
youth or former drug addicts. The profit from sales of food and beverage go to wages, training, and social
betterment programs for the staff-beneficiaries. Why is Anthony’s business a social enterprise?

1. It does not generate profit

2. The profits are reinvested in the business

3. The profits are distributed to not-for-profit organisations

4. None of the above

15 of 24 Single choice Score: 0.00/5.00

Budget is a planning tool with specific characteristics. Only one of the statements below is correct, which one?

1. Budgets should be prepared by taking risks: underestimate costs, overestimate earnings

2. A budget is prepared for an indefinite period of time

3. Budgets should be prepared conservatively: overestimate costs, underestimate earnings

4. It is only an analysis of costs a company is going to have for its activities in a specific period

16 of 24 Single choice Score: 5.00/5.00

Understanding linguistic differences is very important when you work in an international company. Communication
issues often arise from translation problems, slight language distinctions and culturally-based variations among
speakers of the same language. Furthermore, nonverbal communication can be very different from country to
country. Read the statement below and identify the related issue:Misunderstandings may arise because of
differences in dialect within the same language.

1. Nonverbal communication

2. Culturally-based variations

3. Translation problems

4. Slight language distinctions

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17 of 24 Single choice Score: 5.00/5.00

There are several types of intellectual property protection. What does copyright mean?

1. Someone has protected the brand in order to avoid fraudulent use of it

2. You are not allowed to copy a creative work without the approval of the original author

3. Nobody else can use the same brand and name as you have on your product

4. Someone has protected the name of the product and nobody else can use it

18 of 24 Matrix Score: 5.00/5.00

Several entrepreneurs attended the “Start-up Forum” in London last month to present their companies and they
explained their mission and objectives. Below there is a collection of several statements collected during the Forum.
Match correctly!
(Please note that this is a single question – 1 point in total)

Subquestions will be shown below

To create a better everyday life for the many people

1. Mission

2. Obectives

To increase sales by 10% this month

1. Mission

2. Obectives

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To give customers the most compelling shopping experience

1. Mission

2. Obectives

To reduce employee turnover by 20 percent within one year o X

1. Mission

2. Obectives

19 of 24 Single choice Score: 5.00/5.00

There are different sources of funding to consider when starting a business and each has a cost and potential risks.
Identify the source of funding that matches the cost and potential risks described below.Your primary cost is paying
interest, but you may need some kind of guarantee. You will be able to get smaller amounts of funding than you
would with other investors.

1. Credit Cards (personal source of credit)

2. Bank Loan

3. Family and Friends

4. Personal income

20 of 24 Single choice Score: 5.00/5.00

Sources of finance can come from inside the business (= internal) or outside (= external). Bank loans and lease
arrangements are:

1. Internal source of finance

2. External source of finance

3. Both internal and external source of finance

4. Neither internal nor external source of finance

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21 of 24 Single choice Score: 0.00/5.00

Which are the advantages of a flat organisation?

1. Quick decisions, self-actualization and high motivation of employees

2. Close and strict supervision and control

3. Clear relations and high emphasis on hierarchy

4. Excellent opportunities for promotion

22 of 24 Single choice Score: 5.00/5.00

Some say that successful innovation is essentially about positive change. Henry Ford’s introduced the world’s first
moving assembly line in 1913. This process change not only simplified vehicle assembly but shortened the time
necessary to produce a single vehicle from 12 hours to 90 minutes.In this case innovation was achieved through ...

1. Creating a new product/service

2. Changing the way a product/service is produced

3. Re-positioning a product/service in the market

4. None of the above

23 of 24 Matrix Score: 5.00/5.00

What are the Do’s and Don'ts of writing a business plan? Match correctly!
(Please note that this is a single question – 1 point in total)

Subquestions will be shown below

Answer key questions

1. Don't

2. Do

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Always overestimate revenues

1. Don't

2. Do

Discuss the experience and skills in detail

1. Don't

2. Do

State the amount of funds requested if the plan is used to obtain financing

1. Don't

2. Do

24 of 24 Single choice Score: 5.00/5.00

A business idea should be formulated short and concise. Which of the following statements are NOT correct in a
business idea?

1. Which customers / markets the company wants to work with

2. What needs the concept covers

3. The name of the company and location.

4. What products (goods or services) the company offers to meet the need

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