INNOVATION-QUIZ2

Which one of the following best describes LEAN STARTUP? A way of developing enterprises based on quick product cycles with intense, hypothesis-driven experimentation and adaptive learning that allows for a scalable business model paired with an agile customer development focus.

A way of developing enterprises based on quick product cycles with intense, hypothesis-driven experimentation and adaptive learning that allows for a scalable business model paired with an agile customer development focus. CHOOSE WITH : PRODUCT CYCLES , INTENSE , ADAPTIVE LEARNING

An elevator pitch is a way to convey information about your business , how long it should be ? A. 2-5 MIN B. AROUND 1 MIN C. AROUND 20-30 MIN D. AROUND 30-60 MIN

A. 2-5 MIN OR 3-5 MIN

Customer segmentation is a way to target a category of customers with specific needs, the customer segmentation can be based on... [more than one answer] A. Age B. Gender C. Income D. Geography

A. Age B. Gender C. Income

The steps to create a Business is called a __________? A. Business Plan B. Business model canvas C. Marketing strategy D. Business canvas

A. Business Plan

Which ones are good values for a startup? A. Caring B. Transparency and fairness C. Quantity over quality D. Trustworthiness E. Profit driven

A. Caring B. Transparency and fairness D. Trustworthiness

what reasons some startup fail in DUBAI? A. Challenge of finding reliable data about the local market B.Most of startups founders launch a business before determing whether their products or services serve a market need C.Banking and Funding challenges D. Lack of skills

A. Challenge of finding reliable data about the local market B.Most of startups founders launch a business before determing whether their products or services serve a market need C.Banking and Funding challenges

There are several methods of startup valuation, which ones of the following are correct methods of valuation [more than one question]. A. Cost to duplicate valuation B. Stage development valuation C. Market multiplier D. Cost-benefit analysis

A. Cost to duplicate valuation B. Stage development valuation C. Market multiplier

There are two methods in Lean Startup processes; method I and II. Which one of the following are the core components of the Lean Startup method I? A. Customer development process B. Aigle programming C. Business model report D. Product development process

A. Customer development process D. Product development process

What are the key components of the Customer development process? A. Customer discovery B. Customer validation C. Customer creation D. Product development

A. Customer discovery B. Customer validation C. Customer creation ALSO : company building

What are the core components of the Business model Canvas? A. Customer/market/product B. Cost/Revenue Structure C. Activities/partners/resources D. Vision and mission E. Value proposition F. Strategy

A. Customer/market/product B. Cost/Revenue Structure C. Activities/partners/resources E. Value proposition

According to business reports, around 80% of startups fail. What are some of the common reasons entrepreneurs or startups fail? A. Mismanagement, not taking enough time and efforts to work in the business B. Funding concerns C. Taking the product too late to the market D. Lack of IT skills

A. Mismanagement, not taking enough time and efforts to work in the business B. Funding concerns C. Taking the product too late to the market

What are some of the ideal qualities of an entrepreneur? A. Perseverance(determination) B. Self desplince and people skills C. taking risks of starting a new business D. all of them

A. Perseverance(determination)

Which ones of the following are important when you Pitch your business idea to investors? A. Team (skills, dedication...) B. Financial status C. Market opportunity D. Hobbies and interests

A. Team (skills, dedication...) B. Financial status C. Market opportunity

Which ones of the following assert that your business idea is a real market opportunity? [more than one] A.There is a burning need for your product/service B.You have customers who are willing to pay for your product/service C.Your product has unique characteristics from competitors D.You can scale your business E.You can easily find investors to fund your business

A.There is a burning need for your product/service B.You have customers who are willing to pay for your product/service C.Your product has unique characteristics from competitors D.You can scale your business E.You can easily find investors to fund your business

Using the following picture, what are the primary and secondary value propositions of Amazon company? A. non of the given choices B. Access and product C. Access and experience D. Access and service

B. Access and product

Choose two reasons why Entrepreneurs are important in the economy? A. An important business model B. An important engine of growth in the economy C. An important profit maker D. An important engine that contribute in the development of the society and development of the communities

B. An important engine of growth in the economy D. An important engine that contribute in the development of the society and development of the communities

What is the purpose of the BMC "Business Model Canvas"? A. It states the vision and mission of the startup B. It states the activities, customers, products and financial state of the startup C. A quick and easy way to test the business model of a startup D. A business model canvas is valid only for small startup

B. It states the activities, customers, products and financial state of the startup C. A quick and easy way to test the business model of a startup

In the Lean startup method II using the Agile programming concept, what is the key component that will allow you to test your product and learn from the customer? A. develop a product with all features B. Minimum Viable product C. one customer is enough to test your product D. Do an online survey to test your product

B. Minimum Viable product

Which ones of the following sources of capital will allow you to Fund your startup and don't loose any ownership and control of your business? [more than one answer]. A. Venture capitalist B.Family, Friends and Founders C.Crowdsourcing D.Angel Capitalists E.Bank Loans

B.Family, Friends and Founders C.Crowdsourcing D.Angel Capitalists E.Bank Loans

The process of creating a new product in the market is called... A. innovation B. technology C. Opportunity D. Branding

C. Opportunity