Module 2: Entrepreneurial Vision and Goals 2.4. Quiz Exam Answers

Module 2: Entrepreneurial Vision and Goals 2.4. Quiz Exam Answers

Module 2 – Entrepreneurial Vision and Goals 2.4 Quiz Exam Answers provides learners with clear, structured solutions to the key concepts explored in this section of the entrepreneurship course. This module focuses on how entrepreneurs define a strong vision, set strategic goals, and align their personal motivations with business opportunities. The quiz answers help reinforce essential ideas such as identifying long-term aspirations, understanding SMART goal-setting, recognizing opportunity gaps, and developing a roadmap that supports sustainable business growth. Through these answers, students gain deeper insight into how visionary thinking shapes decision-making and drives entrepreneurial success.

  1. When planning a venture, it is important to create a roadmap for your idea to come to being. Which of the following is the first step in doing so?

    • Develop your value proposition.
    • Create a mission statement.
    • Define job duties and responsibilities for employees.
    • Write a vision statement.

  2. Which of the following are important in developing your entrepreneurial vision? (Choose two.)

    • It should be inspirational. 
    • It should be detailed and specific.
    • It should be forward-thinking. 
    • It should include budgeting plans.

  3. Felix is writing up his entrepreneurial vision, asking himself what the future should look like for his venture, and how that fits in with what he would consider success. What approach is he using for crafting his vision statement?

    • Divergent thinking
    • Beginning with the end in mind 
    • Brainstorming
    • Design thinking

  4. Xavier is conducting research on his entrepreneurial idea as part of his visioning exercise. Which of the following is a method for conducting such research? (Choose two.)

    • Reading journal articles and case studies related to your idea. 
    • Asking your friends to brainstorm with you.
    • Have potential investors review your divergent thinking exercise.
    • Creating a mind map.