Term Test part 2 ‘Answer the following questions. Name * Adriaan Email * adriaan@nisbah.com Quiz Questions y Answer all the question below. Which one of the following explains the term ‘venture capital’? * The center of global enterprise: Silicon Valley. California. When a business puts its own capital at risk, for example when buying new machinery Providing risk capital to a young business. © Obtaining capital for an extreme sports company. 1 pointYou've always wanted to open a cafe and you are sure you have identified a 2 point: gap in the market. A terrific site has become available near the railway station. and you can [just] afford the £15.000 cost of the lease. Which two of the following are good reasons to hold back? * You're not 100 per cent sure that the business will be a success. You havenit got the capital to cover the cash outflows beyond the cost of the lease. You've checked on the costs and found that a £2 cup of coffee has a variable costof15p. You cannot see how the personal and financial rewards can ever be that great in this case. © You're not sure you have all the skills needed to run a business perfectly. Other: Which two of the following are important in creating a successful 2points manufacturing business? * Using market mapping to find out your customers: likes and dislikes © Using franchising as a way of stopping others copying your ideas. Adding value by keeping your costs as low as possible Analyzing the key features of what your competitors offer Making sure you keep your added value low enough to make a good profit.This year looks a tough one to start a house-building firm. but that's exactly 2 points what Tamara and Callum plan to do. They have £40.000 in cash savings and can get a mortgage of £180.000 on their three-bedroom house. They think they will need £210,000 to build their first house. which they have the skills to do themselves. They plan to sell it for £250,000. Which two of the following qualities will be the most important for them in the coming year * Showing leadership © The ability to persuade. Willingness to take risks and make decisions. The ability to analyze competitor strengths and weaknesses. Determination Which one of the following is a reason why a change in technology might —! pont lead to new business ideas? * Because the change cuts the cost of producing existing product lines. Because the change enables more units to be produced within the working day, Because the change requires new techniques to be learnt by staff. © Because the change allows production of things that were impossible beforeLast week Aliyah opened her Males: Nails business. The opening party was 2 ein: fantastic and led to full bookings in week one. Now business has slowed tight down and Aliyah is wondering what to do. She has just £10,000 of capital left of the £80.000 she started with. Which two of the following actions do you advise her to take? * told other party. at a cos! £8,000. leaving her £2,000 for running the business. hone last w s customers to check their satisfaction and whether they'll return in future. Use the £10,000 to run an advertising campaign in the local papers. © Put her prices up, to help cover her costs. Think of ways to encourage customers to tell their friends about Males Nails The big day was 9 December 2013. The first ever Cuckoo Foods muesli yoghurt pot was (sold in Selfridges, London. For friends-since-13, Anna Mackenzie and Lucy Wright it was both the start of something exciting and the result of 18 months’ work. Anna's mum's recipes for muesli were a starting point. When Anna realized they'd make a really good on-the-go breakfast. Having just finished university, she and Lucy started working on recipes, ingredients and learning about the market. Eventually, they came up with a range of bold tastes: mango and coconut. elderflower and cranberry, and many others. The target market was always clear: (young, busy. foodie people.) They got in touch with other foodie entrepreneurs. such as the former boss of Rachel's Organic. He gave advice on pitching successfully to supermarket buyers. And in basics such as shelf-life. Anna's mum wanted fresh fruit, but an agreed shelf-life of 20 days made that impossible. After Selfridges. Further success came from distribution deals with Waitrose and Ocacio and AMT. A coffee-shop chain with 50 outlets in railway stations - perfect for busy commuters. Helped by astute PR [free publicity in newspapers and magazines]. Anna and Lucy were able to double sales turnover to £400,000 in 2016. They seem very keen to push far beyond that in the coming years. When asked about the single most important quality needed in an entrepreneur, both answered ‘resilience’. For continued business growth. They'll need that and more. State TWO MORE entrepreneurial skills that Anna and Lucy will need in the 4 points future. * asbfbnOutline why the business needs a clear target market. * 2 points abfdabadfb Explain the main aims of Cuckoo foods. * points, abdfbdf This form was created inside of Naseem International School,