JA Fellows 2016-2017 Pre Survey

Tools

Name:

A red asterisk (*) indicates required questions.

What school do you attend?*

	St Andrews HS
	University School
	Stoneman Douglas HS
	Plantation HS
	Calvary Christian Academy
	Mc Fatter Technical HS
	Sagemont HS
	Atlantic Technical HS
	Stranahan HS
	South Broward HS
	Deerfield Beach HS
	Coral Springs Charter
	Other

Which one of the following is NOT a word or phrase used to describe most successful entrepreneurs?
*

Strong communication skills

College graduate

Flexible

Persistent

Which one of the following is true about common company structure?*

	Companies are divided into departments by similar roles and responsibilities.
	Companies are divided into departments by seniority (length of time at the company).
	Companies are made up of people with different skill sets.
	Companies are divided into departments by similar roles and responsibilities and companies are made up of people with different skill sets.

What are the three most important questions you should ask before starting a business?
*

	Does it fill a need? Do you have the funds needed to support the start-up activities? Have you developed a viable business plan?
	Does it fill a need? Will the customers pay for it? Do you have the skills/interest/passion needed to pursue the venture?
	Will the customers pay for it? Have you developed a viable business plan? Do you have reliable financial backing? Have you identified a physical location?
	Do you have the skills/interest/passion needed to pursue the venture? Have you developed a viable business plan? Do you have sufficient financial backing to operate for one year without an additional income?

The main outcome of a brainstorming session is:
*

A decision from optional ideas.

A spirited but managed debate about optional ideas.

A clear understanding of optional ideas.

The generation of a list of ideas.

When deciding whether to Pivot or Persevere, the Company should:*

	Consider first how the Company can avoid wasting financial and physical resources.
	Determine if the Company members can support and commit to the product or service.
	Assign roles for the various positions within the Company.
	Consider first how the Company can avoid wasting financial and physical resources and determine if the Company members can support and commit to the product or service.

Which of the following are responses to day-to-day business obstacles by successful entrepreneurs?
*

	Use it as an opportunity to learn, innovate, and change.
	Avoid making any mistakes.
	Seek additional investors or funding.
	Use it as an opportunity to learn, innovate, and change and avoid making any mistakes.

A SWOT Analysis allows a potential business to evaluate:
*

	Strengths and barriers to the business’ success.
	Options for strategically aligning the business to a defined need.
	Internal and external factors important for analyzing potential success.
	Positive qualities of the business idea and the business’ potential viability.

The five components of a business plan are:
*

	Management/Leadership; Competitive Analysis; Production Methods; Customer Service/Sales; Supply Chain
	Leadership Structure; Finance; Marketing; Capitalization; Production Methods
	Management/Leadership; Finance; Marketing; Customer Service/Sales; Supply Chain
	Leadership; Finance; Production; Sales; Distribution

Which of the following are true about a business plan?*

	It is a document to assist in planning, capture key factors, measure company success.
	A comprehensive plan that details all major decisions for the next five years.
	A comprehensive accounting of all financial interactions.
	A comprehensive plan that details all major decisions for the next five years and a comprehensive accounting of all financial interactions.

Which of the following is/are true about capitalization of a business startup.
*

Funding is received from investors.

Investors expect a return.

A business plan is a requirement to seek funding.

Funding is received from investors and investors expect a return.

Which of the following are two key factors for successful sales.*

	Know your product; know your customer.
	Know your company’s annual revenue; Build a large network.
	Do not take no for an answer; Take control of the conversation.
	Know how your product is sourced and distributed; know your social.

The procedure for liquidating your JA company is:
I. Convert all of the company assets to cash.
II. Settle all accounts.
III. Distribute remaining cash or make a contribution to a charity.
IV. Complete your Annual Report.*

I., II. and III.

I., II. and IV.

I., III. and IV.

I., II., III. and IV.

Key reasons organizations create annual reports are:
I. It is an opportunity for full financial transparency and disclosure.
II. It offers an opportunity to thank those who enable you to fulfill your mission.
III. It can be used as a fundraising tool to help build relationships with donors.
IV. It can be used as a marketing piece to tell your story to sponsors and/or partners.*

I., II. and III.

I., II. and IV.

I., III. and IV.

I., II., III. and IV.

The main purpose of networking with mentors, advisors, and investors is to:*

	Help the entrepreneur stay focused on achieving their vision.
	Increase your opportunities to generate revenue.
	Make friends.
	Help the entrepreneur stay focused on achieving their vision and make friends.

The five major types of capitalization are:*

	Crowdfunding; Credit Cards; Investors; Banks; Partnerships
	Investors; Friends/Family; Banks; Secured Assets; Cash Flow
	Savings; Credit Cards; Friends/Family; Banks; Investors
	Savings; Crowdfunding; Investors; Banks; Equity Shares

The three most important elements of a pitch are:*

	Factual information; compelling visuals; your non-verbal cues
	Market opportunity; Market need; Investor interest
	Problem definition; Solution offered; Profit potential
	Presentation; Tone; Receptivity

A Break-Even Point analysis can be defined as: *

	The point where revenues equal the sum of the operating costs.
	The wages of all of the employees equal the sum of the operating costs.
	Business expenses plus salaries equal the sum of the operating costs.
	The wages of all of the employees equal the sum of the operating costs.

The two categories of influence a leader has to draw from are:
*

Command and Control

Top-floor and Ground-floor

Relationships and Personal Connections

Authority and Power

Four different ways to influence others and make decisions are:*

Command; Consensus; Convenience; Coordinate

Command; Collaborate; Consensus; Convenience

Command; Control, Collaborate; Convene

Command; Collaborate; Convenience; Coordinate

A competitive advantage occurs when:*

	A company sells the same product as competitors for a lower price.
	Members of the company align passion with the customers’ needs.
	Members of the company are fulfilling their own passion.
	A company develops an attribute that enables it to outperform competitors.

To conduct effective market research, the speakers recommended you:
*

	Understand the “job” that the product is performing.
	Conduct surveys while the consumer is using the product.
	Only observe how the product is being used; don’t ask questions.
	Conduct focus groups to capture the richest and most diverse responses.

Companies can communicate with their customers by:*

Persuading customers to want their product.

Conducting market research.

Choosing the right combination in their “market mix.”

Developing an effective market plan.

The 4 Ps model of marketing includes the following elements:
*

	Persuasion, Price, Promotion, Perception
	Perception, Persuasion, Promotion, Production Perception, Persuasion, Promotion, Production
	Price, Promotion, Performance, Production
	Product, Price, Place, Promotion

Two methods you can use to deliver information about your product to potential customers are:*

	Conduct a survey. Report the results of the survey while introducing potential customers to your product.
	Direct marketing. Tele-marketing.
	Conduct focus groups. Introduce your project to potential customers during the focus group.
	Tell your customer. Let your customer tell you what they want or need.

To gain an understanding of your customer, you should:
*

	Develop an evaluation program that captures response data in real time so that changes can be made to your product/service quickly based on customer reactions.
	Invite potential customers to participate in the development of your product or service so they can offer guidance and feedback.
	Explain/demonstrate your product or service to potential customers and then ask them questions about potential benefits or concerns they might have.
	Analyze your customers’ profiles from published studies about target audiences so that you can build on others’ research and experience.

The three basic links in the Supply Chain include the following activities:
I. Researching and acquiring the resources necessary to produce the product or
service.
II. Preparing raw resources for the product or service.
III. Deciding whether to produce or not
IV. Delivering the final product to the end user.*

I. and II.

I., II. and IV.

I., II., III. and IV

I. and III.

A complete quality control plan would include a process to:
I. Identify defective resources received from the source.
II. Ensure workers are cross-trained if defects are found during sourcing.
III. Complete a full production cycle before making changes.
IV. Spot check and provide feedback during production.*

I. and III.

I. and II.

I. and IV.

I., II., III. and IV.

How would you rate yourself as a leader?*

excellent

good

fair

needs improvement

poor

Have you learned life skills or work readiness skills that will help you in your professional life?*