1) Frank bought a movie from a streaming website and received immediate access to the movie. What type of e- commerce product did Frank purchase? a) digital b) tangible 2) Stacy bought a bought of macaroons from an online bakery out of state. What Type of e-commerce product did Stacy order? a) physical product b) digital product 3) CEO a) in charge of company's finances b) Highest- ranked employee in the company; develops company's vision, strategies, and mission c) oversees day- to- day operations and functions d) May do some or all jobs of the CEO, CFO, COO 4) CFO a) in charge of company's finances b) Highest- ranked employee in the company; develops company's vision, strategies, and mission c) oversees day- to- day operations and functions d) May do some or all jobs of the CEO, CFO, COO 5) COO a) in charge of company's finances b) Highest- ranked employee in the company; develops company's vision, strategies, and mission c) oversees day- to- day operations and functions d) May do some or all jobs of the CEO, CFO, COO 6) Small Business Owner a) in charge of company's finances b) Highest- ranked employee in the company; develops company's vision, strategies, and mission c) oversees day- to- day operations and functions d) May do some or all jobs of the CEO, CFO, COO 7) Founder a) person who developed or created the company or organization b) individuals or groups that have an interest in the success of the company c) ensure standards for management (have to hold or buy stocks in the company) d) the ones who get the work done! 8) Stakeholders a) person who developed or created the company or organization b) individuals or groups that have an interest in the success of the company c) ensure standards for management (have to hold or buy stocks in the company) d) the ones who get the work done! 9) Stockholders a) person who developed or created the company or organization b) individuals or groups that have an interest in the success of the company c) ensure standards for management (have to hold or buy stocks in the company) d) the ones who get the work done! 10) Employees a) person who developed or created the company or organization b) individuals or groups that have an interest in the success of the company c) ensure standards for management (have to hold or buy stocks in the company) d) the ones who get the work done! 11) S Corporation (S Corp) a) This DOES NOT HAVE double taxation; has strict restricts to become b) this is ideal for international business; it has double taxation c) it shields the owners from liability d) owner IS RESPONSIBLE for all company's debts 12) C Corporation (C Corp) a) This does not have double taxation; has strict restricts to become b) this is ideal for international business; it has double taxation c) it shields the owners from liability d) owner IS RESPONSIBLE for all company's debts 13) Limited Liability Company (LLC) a) This has double taxation; has strict restricts to become b) this is ideal for international business; it has double taxation c) it shields the owners from liability d) owner IS RESPONSIBLE for all company's debts 14) Sole Proprietorship a) This has double taxation; has strict restricts to become b) this is ideal for international business; it has double taxation c) it shields the owners from liability d) owner IS RESPONSIBLE for all company's debts 15) Which corp uses a double layer of taxation? a) S Corp b) Sole Proprietorship c) C Corp d) LLC 16) Existence is what stage on the Business Life Stages? a) 1 b) 2 c) 3 d) 4 e) 5 f) 6 17) Survival is what stage on the Business Life Stages? a) 1 b) 2 c) 3 d) 4 e) 5 f) 6 18) Takeoff is what stage on the Business Life Stages? a) 7 b) 2 c) 3 d) 4 e) 5 f) 6 19) Success is what stage on the Business Life Stages? a) 1 b) 2 c) 3 d) 4 e) 5 f) 6 20) Pivot or Persist is what stage on the Business Life Stages? a) 7 b) 2 c) 3 d) 4 e) 5 f) 6 21) Resource Maturity is what stage on the Business Life Stages? a) 7 b) 2 c) 3 d) 4 e) 5 f) 6 22) Observe, engage, & empathize with customers to understand their experiences and needs a) empathize b) define c) ideate d) prototype e) final testing 23) Exit Plan is what stage on the Business Life Stages? a) 7 b) 2 c) 3 d) 4 e) 5 f) 6 24) Analyze observations & info gathered during the empathize stage a) empathize b) define c) ideate d) prototype e) final testing 25) Basic products that address the core problem- used to test the solutions developed in the ideation stage a) empathize b) define c) ideate d) prototype e) final testing 26) Reviews and refines the product a) empathize b) define c) ideate d) prototype e) final testing 27) The design team develops solution ideas to spark new ways of thinking a) empathize b) define c) ideate d) prototype e) final testing 28) Which would be considered a weakness? a) Your company has a high quality, amazing product. b) Product designs have not changed over several years despite customer feedback recommending they should. c) You could increase your online presence to gain more customers and possibly lower cost. d) Lowering product prices may mess with product quality. 29) Businesses that sell products that are different but are similar enough that their products compete. a) Indirect b) direct 30) Which would be considered a strength? a) Your company has a high quality, amazing product. b) Product designs have not changed over several years despite customer feedback recommending they should. c) You could increase your online presence to gain more customers and possibly lower cost. d) Lowering product prices may mess with product quality. 31) Which would be considered a possible opportunity? a) Your company has a high quality, amazing product. b) Product designs have not changed over several years despite customer feedback recommending they should. c) You could increase your online presence to gain more customers and possibly lower cost. d) Lowering product prices may mess with product quality. 32) Analyze customer feedback. Change markets. Explore new product lines. a) 1. idea state b) 2. Prototype phase c) 3. launch stage d) 4. traction e) 5. customer development f) 6. growth 33) Buys products from wholesalers then sells to consumers a) retailers b) wholesale c) manufacturers d) agents e) intermediaries 34) Buys from manufactures then sells to retailers a) retailers b) wholesale c) manufacturers d) agents e) intermediaries 35) Creates goods a) retailers b) wholesale c) manufacturers d) agents e) intermediaries

ESB Certification Study Guide

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