Management team, Board of Directors, Founders, Board of Accountants, Financial Officers

Management team, Board of Accountants, Lenders and Investors, Other Professionals (consultants), Lawyer, Accountant, Founders

Management team, Board of Directors, Lenders and Investors, Other Professionals (consultants), Board of Advisors, Key Employees, Founders

Management team, Board of Directors, Accountants Investors, Other Professionals (consultants), Key Employees, Founders

To be my own boss

To be independant

To become rich(er)

Develope own ideas

GEM, Global Entrepreneurship Monitor updates yearly the TEA, Total entrepreneurial activity in different countries

GEM and TEA are two different indexes, Global Entrepreneurial Monitor Index and Total Early stage Entrepreneurial Activity

GEM, Global Entrepreneurship Monitor updates yearly the TEA, Total Early stage Entrepreneurial Activity in different countries

TEA, Transnational Entrepreneurial Activity monitors the GEM, Global Entrepreneurial Monitoring Index

Idea => Feasability analysis => Opportunity

Idea => Opportunity => Feasability analysis

Opportunity => Idea => Feasability analysis

Feasability analysis => Idea => Opportunity

A sole proprietorship requires a capital of minimum 25 000 kr

A public corporation requires a minimum capital of 25 000 kr

A sole proprietorship doesn't require any minimum capital

A private corporation requires a minimum capital of 500 000 SEK

Flash of recognition when the solution to a problem is seen

The stage of the creative process during which an entrepreneur considers the idea or thinks about a problem

Bringing the background, experience and knowledge to recognize an opportunity

The planning stage of the implementation of a business after that an idea has been processed

The stage of the creative process when an idea is analyzed for its viability

The stage of the creative process during which an entrepreneur considers the idea or thinks about a
problem

Flash of recognition when the solution to a problem is seen

Bringing the background, experience and knowledge to recognize an opportunity

Entrepreneurial initiatives within a larger exits the company and is continued independently

When units of a larger corporation encourages, allows and applies entrepreneurial conditions for the employees

When two or more entrepreneurial firms interact

An entrepreneurial firm is adopted by and integrated in to a larger corporation

Business models explains how an entrepreneurial initiative will be financed

Business models contains information about the founders and owners of company

A business model is consisting of a marketing plan and a business plan

Business models are used to explain how an entrepreneurial initiative is adding value to customers and to the company

Disruptive business models are characterized by that they have impact on the way business is conducted over a whole industry

Disruptive business models are more common than the standard business models

Disruptive business models require usually product innovations

Disruptive business models are characterized by that they erase the possibilities to continue with business as usual for existing suppliers to a market

A company is either a B2C or a B2B company, not both at the same time

B2B regards business between companies and B2C regards business between a company and a private consumer

A manufacturer of cars intended for final sale to private consumers (for example Volvo Cars) is primarily a B2C company

B2C regards private consumer intended products and services while B2B regards products and services for professional use

The five forces model is used for understanding industry structure

The five forces in the model determine industry profitability

The five forces model was developed by professor E Silverstein in the 1950's

The five forces are a) Rivalry among existing firms b) Threats of new entrants c) Bargaining power of buyers d) Bargaining power of suppliers e) Threats of substitutes

Bicycle sales vs free public transportation

McDonald's vs fine dining

Volvo cars vs Mercedes cars

I-phones vs android phones

Both types of corporations are owned by shareholders, but only shares of a public corporation are traded at public stock markets

Public corporations are owned by the state while private corporations are privately owned

Public corporations are subject to double taxation but private corporations are only single taxed (only profit but not the share dividends are taxed)

Public corporations are subject to supervision by the state while private corporations have no external reporting duties

The strongest bargaining power relates only to which of the parties is the most powerful and have the largest resources

The strongest bargaining power relates to the combination of which of the parties is the largest and the number of alternative parties, i.e. the number of alternative buyers and sellers

Bargaining power of suppliers decreases when there are fewer and bigger suppliers and many small buyers

The strongest bargaining power relates only to the number of alternative parties there are, i.e. the number of alternative buyers and sellers

Private corporations must have a minimum share capital of 50000 kr

In sole proprietorships, all legal and financial responsibility is personal to the owner

In private corporations, the firm and the owners (shareholders) are separated legal entities

For public corporations, there is double taxatation of both the company profit and the shareholders' dividends

Network capability

Relevant industry experience

Level of education

Finance know-how

understanding an industry's structure and to determine industry profitablity

forecasting a company's business results

making business plans

developing business models

Patent, Logotype, Drawings, Documentation

Patent, Trademark, Copyright, Trade secret

Patent, Trademark, Franchise, Trade secret

Patent, Trademark, Copyright, Documents

Cash flow, Investments, Development

Cash flow, Investments, Salaries

Cash flow, Supplier invoices, Salaries

Salaries, cost of materials, Investments

Low cost, Profit sharing, Less legal expenses

Low cost, Income growth, Access to ideas

Low cost, Higher profits, Less legal expenses

Low cost, Less skills required, Less legal expenses

A venture capital tech company making a profit of a billion dollars or more

A venture capital tech company valued at a billion US dollars or more

A venture capital tech company having attracted a billion dollars or more in investment capital

A venture capital backed tech company valued at a billion Swedish kronor or more

A board of advisors in a company is sometimes a legal requirement

Declaring dividends to the company's shareholders is the responsibility of the managing director

It is more common with single founders than multi-founders in new start-ups

A board of directors is always a legal requirement in a shareholders' company

Cash flow management, Price stability, Finding customers, Supplier negotiations

Cash flow management, Price stability, Capital constraints, Quality control

Making profit, Price stability, Finding customers, Supplier negotiations

Quality control, Price stability, Finding customers, Supplier negotiations

Economy of scope is achieved by lowering the variable product cost

Economy of scope is achieved by adding more product variation while economy of scale is achieved by producing more of the same product

Economy of scale is achieved by adding more product variation while economy of scope is achieved by producing more of the same

Economy of scale can only be achieved by increasing the production volume, so that the fixed cost per unit goes down

An "aquisition" is when firms makes an agreement on equal terms to become one firm all together

A "joint venture" means that two firms agree to share resources without forming a new legal unit

A "merger" is when firms makes an agreement on equal terms to become one firm all together

A "strategic alliance" is when firms limit their cooperation to technical and financial developments of products

Differences in input factors (raw materials, labor, capital, knowledge) between countries are a driving force behind international trade

Geographical, social, and cultural factors are important drivers of world trade

International trade policy protection has contributed to a decrease in world trade during the Second World War

The drive for to reach resource efficiency through specialisation is mostly important for large countries free trade

It is not wise to invest in full-scale globalization

The ANSOFF matrix demonstrate different development options and its connected level of risk

Export and Licensing are strategies with low level of investment and risk compared to a Joint Venture

Trade blocs and free trade areas increase trade restrictions

Organizations such as the International Monetary Fund (IMF) and the World Bank (IBRD) are related to GATT

GATT is an acronym for General Acceptance of Trade and Tolls

Red tape barriers are a type of a protective trade policy

GATT regulates cross-border trade in goods through reduced customs duties, trade quotas and other trade barriers

Opponents to free trade advocate more restrictive trade between countries through, among other things, decreased import duties. This is because larger trade barriers, for example, (i) have the potential of increasing government revenue (e.g., through import duties); (ii) protect local employment; and (iii) increase a country's self-sufficiency in terms of industrial production.

Advocates of free trade advocate, among other things, that free trade (i) gives domestic companies a larger market abroad; (ii) increases business efficiency, quality (product, processes, services) and reduces prices; (iii) provides consumers with a richer range of products; and (iv) contributes to world peace.

A positive effect of restricted trade between countries is the higher protection of domestic start-up businesses from powerful foreign competition.

A negative effect of free trade is that the amount of research and development decreases, due to the increased competition between firms and organizations.

The Gender Social Norm Index shows a very large percent of women and men worldwide have a gender social norm bias

The Human Development Index measures sustainability from four dimensions: Political, Educational, Economic, Physical integrity

The Gender Social Norm Index is measured from three dimensions: A decent standard of living, Knowledge, Long and healthy life

The Global Peace Index is measured from the number of deaths in combating countries

The standard “ISO 26000” helps businesses and organizations translate principles into effective actions and shares best practices relating to social responsibility, at a global level.

When you choose the “Fairtrade” product label, you contribute to worsened working and living conditions for growers and employees in developing countries.

The Forest Stewardship Council (FSC) discourages environmentally friendly, socially beneficial, and economically viable use of the world's forests.

Circular economy is a concept, primarily, to enhance social responsibility into the business model

It is the percentage of people 18-64 years old acting as early entrepreneurs

It is a percentage to compare entrepreneurial activity between companies

It is an index that compares the rate of success of entrepreneurs in different countries

It is a way to measure and compare the quality of early entrepreneurial activity in different countries

An SSF is a firm is in practice much like a conventional employment, e.g. one-person companies providing services in the construction industry

An EF is a company that operates commercially as opposed to an SSF that is often a non-profit organisation

An SSF is a firm where the employees are remunerated by other means than a regularely paid salary, for example by sharing the company's profit

An SSF is also called "lifestyle firm", i.e. a firm where you make living and earn money through activities around your personal lifestyle, for example being a golf-pro

1)Entrepreneur 2)Business planning 3)Financing 4)Manage and grow

1)Entrepreneur 2)Business idea and business plan 3)Start a company 4)Manage and grow

1)Business ideas 2)Business planning 3)Financing 4)Manage and grow

1)Business ideas 2)Start a company 3)Business idea and Business plan 3)Financing 4)Manage andgrow

An opportunity is a favorable set of circumstances that creates need for a new type of product or business

An opportunity is always based on solving a problem of potential customers

The window of opportunity is the gap between existing actors on a market where there could be a business opportunity

Identifying opportunity is the step prior to develop an entrepreneurial idea

1)Observing trends 2)Solving problems 3)Develop a better offer than from existing firms

1)Observing trends 2)Solving problems 3)Finding gaps in the market place

1)Find economy of scale or scope possibilities 2)Find suitable disrupted business models 3)Find suitable standard business models

1)Mapping the market 2)Solving problems 3)Finding windows of opportunity

Business models contain information about the founders or owners of the company

Business models describes the relation with customers

Business models are used to explain how an entrepreneurial initiative is adding value to customers and to the company

Business models describe key resources of a company

Low-end market business model is an example of a disruptive business model

Disruptive business models replaces most often existing standard business models

Google Adwords and Uber are examples of standard business models

"Razor and blades" and Bricks and clicks" are examples of disrupted business models

Taxi is a market and city passenger transport is an industry

Airlines is a market and long distance passenger transportation is an industry

Truck operators is an industry and goods transport is a market

City buses is a market and city passenger transportation is an industry

Companies form cartels to hinder new entries to the market

Companies take extreme actions, e.g. they sell below cost, to hinder a new entrant to establish itself on the market

Existing firms go together to form common plans against a new entrant to the market

The force is more liklely to be strong when there are few companies selling to a market

Electric kick bike service vs own walking

Quick electric kick bike service vs. JLT city bus service services

Quick vs. TIER electric kick-bike services

A new start-up company vs an established company

For public corporations, there is double taxatation of both the company profit and the shareholders' dividends

Private corporations must have a minimum share capital of 50000 kr

In sole proprietorships, all legal and financial responsibility is personal to the owner

In private corporations, the firm and the owners (shareholders) are separated legal entities

The board of advisors is legally responsible for the company's actions

The board of directors are key employees appointed to manage the company

The management team is a group of employees responsible for the daily operation of a company

Lenders and investors are the shareholders of a company

Appointing a well balanced board of directors

Simplifying the work of the HR responsible within the company

Appointing a well balanced board of advisors

Forming a suitable balance of competencies among the management team and key employees

It is the same as the dilution rate when more capital is invested by investors

It is the difference between post-money and pre-money

It is the amount of money investors risk to loose

it is the rate at which it needs to spend capital until it becomes profitable

External investors always request to be elected by the original owners to the board of directors

Crowd funding means that customers are requested to add financing of the company with their purchases

Bank loans is the least expensive type of financing, but also the most difficult to get for start-ups

Boot strapping is a form of crowd funding

A grant from one or more national independent patent organizations to get legal support if a patent is infringed

A grant from one or more federal governments giving the right to exclude others to use an invention

None of the alternatives is correct

A registration of an innovation at an independent patent organization

Advantages to be a franchisor are low cost and increased buying power

Typical disadvantages of being a franchisee are lost control and requiring business skills

The franchisee licences its trademark to franchisors

Advantages to be a franchisee are low cost and increased buying power

Utility patents is the least common type of patents

Utility patents are granted for 20 years

Design patent is the most common type patents

Plant patents are the most common type of patents

The volume which is needed to make the company to make a gross margin in the income statement

The volume that is needed to make the company break even

The volume which is needed to cover the direct cost

The volume needed to cover the sales cost

Differences in input factors (raw materials, labor, capital, knowledge) between countries are a driving force behind international trade

Geographical, social, and cultural factors are negligible drivers of world trade

International trade policy protection has contributed to a boost in world trade after the Second World War

The drive for to reach resource efficiency through specialisation is mostly important for large countries free trade

Every country has its own unique trade policy today

GATT was created to handle the WTO regulatory system

World war 1 and 2 increased the world trade due to stronger cooperation between the allies

Red tape barriers are a type of a protective trade policy

In 2020 the Swedish service export was larger than the Swedish export in goods

The most expansive industries are commodity-intensive

International trade is growing twice as fast as commodity production

Raw materials have the largest share of the world trade

Agenda 2030 was adopted in September 2015 of the heads of state and government of the world, through the UN General Assembly

Agenda 2030 was developed by the Brundtland Commission

The 17th goal in Agenda 2030 is about strengthens the global partnership for sustainable development

The United Nation’s (UN) Agenda 2030 aim to eradicate poverty, stop climate change, and create peaceful and secure societies

The Global Peace Index is measured from the number of deaths in combating countries

The Human Development Index measures sustainability from three dimensions: A decent standard of living, Knowledge, Long and healthy life.

The Gender Social Norm Index shows a very large percent of women and men worldwide have a gender social norm bias

The Gender Social Norm Index is measured from four dimensions: Political, Educational, Economic, Physical integrity

The Swan label is the Nordic region's official eco-label and is commissioned by the government

A modern successful business acts in accordance with the principles People, Planet and Profit

UNs Global Compact is an initiative to support companies to align their strategies with universal sustainable principles

The Triple Bottom Line (3 BL) principle The Planet is addressing the business need of social responsibility connecting to health, safety, human rights, business ethics and community involvement

The global reporting initiative (GRI) is a voluntary accounting framework for sustainability in all types of Organizations

In principle, there can be a trade-off or a win-win between a company’s sustainability performance and financial performance

Circular economy is a concept, primarily, to enhance social responsibility into the business model

A good corporate sustainability report should have several quality attributes connected to Clarity, Business benefit connected to the sustainability work, Social benefits achievements, Long-term sustainability goals and have enhanced Credibility

Opportunities always include some sort of innovation

An oppurtunity is characterized by that it is attractive, timely, durable and based on the supply of a product, service or business that adds value for a user or buyer

An opportunity is equal to a gap in the market and the idea is always a product solution

An opportunity is equal to a demand in the market

The business model is one of the more important parts of a business plan

A business model is a firm's plan or recipe on how it creates value for its stakeholders

The Barringer/Ireland business model template is a format for displaying business plan parameters

A business model is a legal requirement in public and private corporations

Business models explains how an entrepreneurial initiative will be financed

Business models are used to explain how an entrepreneurial initiative is adding value to customers and to the company

Business models contain information about the founders or owners of the company

A business model is consisting of a marketing plan and a business plan

"New market disruption" and "Low-end market disruption"

"New market" and "Standard"

"Low cost" and "High price"

"Low-end market disruption" and "High end disruption"

B2C stands for "Business to Commercials"

IKEA and ICA stores are practicing both B2B and B2C

B2B and B2C relates to whether the company's products or services are aimed for use by consumers or by businesses

Selling clothes is almost only and primarily B2C

A market is a group of companies and consumers buying the same type of products or services

A market is a group of companies with similar products or services

An industry is a group of companies with similar products and/or services

An industry is a group of manufacturing companies with similar products

A new start-up company vs an established company

Volkswagen cars vs Audi cars

Fast food vs fine dining

Leasing car vs buy a car

Taxation is on both the sales amount and on the amount on profit

Tax is doubled compared to sole proprietorships

Both profit and share dividend payments to share holders are subject to taxation

Share holders pay tax both on the purchase value of shares and on the profit when selling shares of the company

1)Threat of competitors 2)Threat of new products 3)Rivalry among existing firms 4) Bargaining power from suppliers and buyers 5) Legal forces

1)Threat of substitutes 2)Threat of new entrants 3)Rivalry among existing firms 4) Bargaining power from suppliers 5)Bargaining power from buyers

1)Threat of substitutes 2) Threat of new entrants 3)Rivalry among existing firms 4)Bargaining power 5) Legal and political forces

1)Threat of politics 2)Environmental threats 3)Rivalry among existing firms 4) Bargaining power from suppliers 5)Bargaining power from buyers

Indirect competition is when companies offer different solutions to satisfy the same customer need

Indirect competition is when companies are trying to sell to the same type of product to a customer through a different type of marketing channel, for example via internet vs via a city store

Indirect competition is when a competition is expected in the future from another company

Indirect competition is when companies are offering different business conditions, for example in different price ranges like high end and low end market.

CFO = Chief Financial Officer, CTO = Chief Technology Officer

CEO = Chief Excutive Officer, CTO = Chief Transmission Officer

CEO = Chief Export Officer, CTO = Chief Technology Officer

CEO = Chief Excutive Officer, CTO = Chief Transportation Officer

Typical internal growth strategies are licensing, joint venture and new product developments

Typical external growth strategies are mergers and aquisitions, licensing, strategic alliances and franchising

Typical external growth strategies are international expansion, franchising and other product related strategies

Typical internal growth strategies are new product developments, licensing and joint ventures

Abbreviations of three types of intellectual properties

Abbreviations of three different authorities for patent registrations

Abbreviations for different types of patents

Abbreviations of different legal levels of trademark protections

Organizations such as the International Monetary Fund (IMF) and the World Bank (IBRD) are related to GATT

The IMF and World Bank are United Nations (UN) agencies with the main aim of supporting AGENDA 2030 in the world

GATT is an acronym for General Acceptance of Trade and Tolls

GATT regulates cross-border trade in services through reduced customs duties, trade quotas and other trade barriers

TRIPS is a multilateral agreement on intellectual property, which provides protection for patents, copyrights and trademarks

WTO is a multilateral agreement aimed at trade in goods and is based on the same principles as GATT intended for the service area

Because the WTO is intergovernmental, its power is in the hands of its members. Therefore, the WTO has large power to interfere in its members' policies

The WTO was not established to handle the various regulatory systems GATT, GATS & TRIPS

Licensing allows firms to increase revenues and reduce investment costs risk in comparison to direct export as well as enhance learning and diffuse technologies

Exporting requires relatively low investments and involves a relatively small risk for a company.

Franchising is a contractual arrangement in which a company receives a royalty or fee in exchange for the right to use its trademark, patent, trade secret, or other valuable intellectual property

Strategic alliances and joint ventures are a contractual arrangement in which a company receives a royalty or fee in exchange for the right to use its intellectual property

While companies should be a good corporate citizen, philanthropic responsibilities are of no importance.

Secondary responsibilities of companies are to obey the law and be profitable.

Philanthropic and ethical responsibilities are the primary responsibilities of companies.

Companies have an obligation to do what is right, just, and fair, and to avoid harm.

In principle, there can not be a trade-off or a win-win between a company´s sustainability performance and financial performance

A good corporate sustainability report should have several quality attributes connected to Clarity, Business benefit connected to the sustainability work, Social benefits achievements, Long-term sustainability goals and have enhanced Credibility

The global reporting initiative (GRI) is a mandatory accounting framework for sustainability in all types of Organizations

Regulation can not help companies to detect resource inefficiencies in their operations

Distribution channels

Revenue structure

Competitors

Cost structure

Balance sheet

Key resources

Cost structure

Distribution channels

2 MSEK

3.5 MSEK

1.5 MSEK

4.5 MSEK