ENT 3613

A useful analogy for thinking about the value offered by detailed customer personas descriptions is to think of them as

"avatars of your imagination."

Efforts to expand sales of an innovation beyond small early adopter markets into large mainstream consumer markets is commonly described as

"crossing the chasm."

Approximately what percentage of employing establishments fail after one year?

20%

What is the approximate length of time that employees 25-34 years old have been in their current job?

3 years

According to a recent Gallup-Purdue poll, approximately what percentage of employees report being engaged at work?

30%

A method for rigorously exploring factors that contribute to a problem is called

5-why analysis.

In the context of understanding and addressing frustrations through creative action, which of the following is most critical to testing, evaluating, learning, and improving your proposals?

Acting

Michelle was trying to describe her new consulting company to a potential client, and decided to help her visualize the service by saying "it's like a fancy salon - we talk to you about what you want and then assign our staff member best suited to meet your needs!" Which of the following visualization techniques was Michelle employing in this case?

Analogies and metaphors

Which of the following questions is most directly related to learning about customer pains?

Are there upfront costs, a steep learning curve, or other obstacles preventing adoption?

Which of the following is not typically described as part of a customer persona?

Attributes of alternative solutions

Which of the following is NOT one of the ways that entrepreneurs create value?

Be alert

Based on our discussion about "creating" problems, why can't money by happiness?

Because people often increase their aspirations as they acquire more stuff.

If you want to promote a discussion that explores a wide range of novel proposals, what type of problem framing should you employ?

Broad

Which of the following is NOT a trigger to help imagine better gain creators?

Can you limit common mistakes your customer makes?

Which of the following is NOT a trigger to help imagine better pain relievers?

Can you make your customers' life easier?

Which of the following is NOT an important reason for developing empathy maps that help you understand your customers' current experiences?

Canvases and maps provide clear step-by-step instructions for developing new ventures

Jill is a frequent business traveler who prefers to learn about alternative solutions and special offers through targeted emails sent by brands that she trusts. Which of the following aspects of a customer persona is most closely reflected by this example?

Channels, influencers, and brands

James was excited about making money by investing in cryptocurrency. In order to learn and evaluate this investment idea James read articles resulting from a Google search for "Best reasons to invest in cryptocurrency". Which of the following judgment biases is James most likely to suffer as a result of his research strategy?

Confirmation bias

Which of the following is most directly critical for developing new possibilities?

Creating

Paula thought she had a creative idea for an app that could help UCF students find parking, but discovered that UCF already provides an app for that. Which of the following issues related to assessing creativity is addressed by this example?

Creativity assessments must consider the history of solutions in a particular context

Bruce was having an argument with his friends about whether his favorite band was "creative". His friends thought the music was novel, but also weird and unpleasant. Thus, they didn't consider it to be creative. Which of the following aspects of defining creativity is most important to understanding why Bruce's friends didn't attribute creativity to his favorite band?

Creativity is a subjective assessment that may vary across people and contexts

Nora created a successful startup venture by selling exotic scarves that were very common in Croatia to people in Chicago who were unfamiliar with the designs and, therefore, considered them to be creative. Which of the following aspects of defining creativity is most important to understanding Nora's success in this example?

Creativity needs to be assessed at a particular point in time in a particular task domain

What do entrepreneurs call a visual representation of an individual's relationship with a service, product, or brand?

Customer journey map

Which of the following entrepreneurial methods offers a detailed description of the target person you are trying to serve by solving their problem?

Customer persona

Which of the following is critical to motivating attention and engagement when addressing frustrations through creative action?

Desire

Adam Grant recently wrote an excellent book describing "originals" - employees and entrepreneurs who engage in problem finding and championing creative solutions. According to Dr. Ford's description of Grant's research, which of the following best describes the entrepreneurial mindset attributes possessed by these "originals"?

Desire, curiosity, and aspiration-performance gaps

One phase in the process of designing delightful customer experiences requires entrepreneurs to characterize their target market in highly specific terms. Which of the following phases does this best describe?

Developing a customer persona description

Which of the following best describes the learning objective for Module 3?

Developing your ability to deeply understand and articulate problems

Which of the following best describes the learning objective for Module 4?

Developing your ability to develop empathy for the interests, preferences, and circumstances of those affected by problems

What phrase is often used to remind entrepreneurs to focus on solving very specific problems for relatively narrow audiences in order to create extraordinary value for those people?

Don't boil the ocean

A fascinating cognitive bias that leads relatively unskilled individuals to suffer from "illusory superiority" (severely overestimating their own ability) because they don't know enough to evaluate their own (in)ability accurately is called the

Dunning-Kruger effect.

Which of the following professional methodologies is most directly focused on describing customer experiences?

Empathy mapping

Which of the following is NOT one of the three things commonly attributed to entrepreneurs?

Entrepreneurs create most new ideas

Which of the following statements best describes recent research findings on the financial returns associated with pursuing entrepreneurship?

Entrepreneurs earn considerably more on average, but there is more income variation

Which judgment bias occurs when one increases investment in failing courses of action, rather than cutting losses and incurring "sunk costs"?

Escalation of commitment

Which of the following is NOT a facets of an entrepreneurial mindset?

Extroversion

Which of the following is not a typical attribute to consider when developing a customer persona?

Favorite teams

Which of the following is a useful and popular method for understanding the causes of a problem?

Fishbone diagram

The video you watched regarding the creation of customer journeys described how software products often interject pop-up warnings to help you make mindful decisions with your work. Which of the following attributes of experience design does this example best illustrate?

Friction and flow - sequence or structure

What creates opportunities for entrepreneurs?

Frustration

Which of the following is NOT a one of the primary motivations individuals try to address when seeking solutions according to the Value Proposition Canvas?

Gaining control

The population of the United States is aging rapidly. This might lead an entrepreneur to conclude that problems related to vision loss, hearing loss, limited mobility, etc. are likely to change in the future. Which of the following problem characterizations is best illustrated by this example?

Growth

Carson spent years learning how to play drums, but was unable to find studio work because most producers he met relied on drum machines. Why was Carson at risk for becoming obsolete or underemployed?

He performed routine manual work

Which of the following is not a reason why we have trouble understanding problems?

High empathy

Which of the following is NOT a common problem associated with poor entrepreneurial capabilities?

High unemployment

Adam considers himself to be a good father and wanted to surprise his family with a getaway weekend to their favorite beach resort. Which of the following gain triggers is most directly related to Adam's motivation to create gains in this example?

How does Adam measure his success or failure?

Entrepreneurship methods that attempt to characterize the size of customer markets and market segments most directly address which of the following keys for understanding customers?

How many could your help?

Learning about problems so you understand them better most directly improves which of the following elements of creative action cycles?

Imagining

According to the Techstar's video describing entrepreneurial journeys, and their efforts to support entrepreneurship, what is the first step that happens in an entrepreneur's journey?

Inspire

Recall Sinead Burke's memorable TED Talk where she describes problems she faces as a little person less than 4' tall using public restrooms or boarding a plane. Which of the following entrepreneurial methods would benefit most directly from her descriptions of her experiences?

Journey mapping

Jessica recently accepted an entry level position at a social media marketing company but was able to get her company to invest in a new staffing initiative she created by presenting and justifying her idea. This example best illustrates which of the following benefits of developing an entrepreneurial mindset?

Lead when you are not a leader

Which of the following is an important reason for developing empathy maps that help you understand your customers' current experiences?

Mapping reveals gaps in current knowledge, thereby helping to direct future research

Which of the following is not one of the primary sources of "gaps" between current and desired experiences that motivates customers to seek new alternative solutions?

Money

In his TED talk describing how great leaders inspire action, how does Simon Sinek describe the recipe for success?

Money, the right people, and the right marketing conditions

Which of the following is not one of the methods used by expert entrepreneurs described by Saras Saravathy's research on effectuation?

Never stop creating

According to data provided by the Panel Study of Entrepreneurial Dynamics, what is the most common reason that individuals in the US become entrepreneurs?

Non-financial reasons like passion and being their own boss

What kinds of jobs account for most job growth in the US?

Non-routine

Why is creativity a tough choice relative to following routines?

Novel paths are uncertain and subject to delayed consequences

What are the primary criteria that people use to attribute "creativity" to an idea or solution?

Novelty and value

Why do people often stick with "satisfactory", familiar solutions rather than try new things?

People are biased to prefer avoiding negative outcomes rather than attaining positive outcomes People often experience anxiety when confronted with complex decisions involving multiple options

What advice, inspired by Apple's early focus, did Simon Sinek's offer to aspiring leaders in his popular TED Talk on "How Great Leaders Inspire Action?"

People don't buy what you do, they buy why you do it.

Which of the following is a common method for comparing alternative solutions' value propositions?

Plotting competitors on an X and Y axis representing important attributes that customers value

What is the most useful thing to consider when making creativity assessments?

Products (solutions)

Jill is a frequent business traveler who tends to be introverted and analytical, thus making it likely that she could be influenced by ads showing comparisons among various offers. Which of the following aspects of a customer persona is most closely reflected by this example?

Psychographics

What is a 5-why analysis also known as?

Root cause analysis

According to the Techstar's video describing entrepreneurial journeys, and their efforts to support entrepreneurship, what is the final step that happens in an entrepreneur's journey?

Scaling up

An essential creativity and entrepreneurship action principle that emphasizes acting, reflecting and learning as a means of addressing the unknown is called

Smart steps

Brandon decided to invest in an expensive designer suit so that others would view him as a highly successful young professional. Which of the following types of customer jobs is motivating Brandon's purchase in this example?

Social job

What is the most effective and popular means of measuring creativity in professional settings?

Soliciting groups of experts from a particular task domain

What company does Dr. Ford use as an example when he explains the customer journey map?

Starbucks

"Creaction" is a term created to describe two action principles entrepreneurs need to embrace that promote learning, imagining, and judgment? Which of the following best describes creaction's action principles?

Take small smart steps, and reflect on experiences to justify next steps

What happens when decision makers use conservative decision criteria that limits their exposure to failed ventures?

They miss more opportunities

The video you watched regarding the creation of customer journeys described how packaging pain reliever pills and a bottle makes it more efficient to dispense large numbers of tablets. Which of the following attributes of experience design does this example best illustrate?

Time - duration

Tong decided to buy a mouth moisturizer spray in hopes that it would help him fight bad breath. Which of the following best describes the type of pain Tong hopes to avoid?

Undesired outcomes or problems

Contemporary entrepreneurs make extensive use of napkin sketches (or whiteboard sketches) to help others visualize their new venture proposals. Which of the following visualization best practices to these types of sketches address most directly?

Use simple imagery to engage others

When should decision makers use routine decision methods that predict outcomes associated with current choices?

When situations are well known

When are people more likely to be frustrated?

When their current circumstances are below their aspirations

When are people less likely to be frustrated?

When their current circumstances exceed their aspirations

Which of the following issues can be addressed by developing a competitor map with comparisons of features and benefits?

Where do customers go to find solutions to their problems?

Gaining empathy for customers may allow one to search the Internet for solutions and gain insight regarding issues you must know about your customers. "Google it" is especially useful advice for addressing the question

Where does your customer find alternatives?

Which of the following questions is most directly related to learning about customer gains?

Which is more important to you, lower prices or higher quality?

Effective entrepreneurs conduct extensive research so they can describe customer personas they are trying to help and market segments they might address with their offerings. Which of the following key issues for understanding customers are most directly addressed by these methods?

Who are they?

Evolutionary models stand in contrast to traditional sequential/stage models of creativity, innovation and change that isolate creativity from outside influences. What benefits do you realize by adopting an evolutionary rather than a sequential process view of creativity and entrepreneurship?

You increase input diversity, enhance novelty, and reduce risk associated with underestimating uncertainty

The consulting company Strategizer has developed a popular methodology for categorizing specific customer frustrations and helping entrepreneurs design solutions that directly address those frustrations. Their widely used method is called

a Value Proposition Canvas.

A modern entrepreneurship methodology that characterizes customer interactions across all touch points they have with a particular solution or brand is called

a customer journey.

The primary elements of the value proposition canvas include

a customer profile and value map.

One description of entrepreneurship characterizes it as a method of human action, as important as democracy or science, that can be learned as

a logical form of reasoning and problem solving.

A temporary organization used to search for repeatable and scalable business models is best described as

a startup.

Considering a creative action cycle as a way of understanding creative and entrepreneurial leadership highlights the importance of

acting on creative ideas and learning from the consequences of those actions.

Tamia quickly gained a positive reputation as an entrepreneurial problem solver by using her communication and networking skills to promote her creative ideas. This illustrates how learning entrepreneurial methods can help you

amplify your superpowers.

A sophisticated methodology used by entrepreneurs to understand what a customer is experiencing when they address a problem is called

an empathy map.

Entrepreneurial journeys typically require you to create your own path, rather than follow a path defined by others. This requires you to adopt the mindset of

an explorer.

A creative solution that is intended to be adopted by others and diffused to different settings is best described as

an innovation.

Creativity is best thought of as

an intangible, subjective attribute of an idea or solution.

The possibility of introducing an innovation to a specific market at a profit is best described as

an opportunity.

A common negotiation tactic is to present an extreme proposal at the beginning of the discussion. This is justified by research demonstrating that opponents will be influenced to accept a position closer to an extreme proposal than they would have if it had not been presented. This well-established decision-making bias is called

anchoring and adjustment.

Conceptual organizing processes are especially important early in an entrepreneurial journey when trying to reach the organizing milestone of

articulating a value proposition.

The Value Proposition Canvas provides entrepreneurs with a tool for organizing their hypotheses related to people and their problems. Thus, it provides a means of

articulating and testing assumptions.

Nicole interviewed dozens of potential customers and learned that people really hate to wait in line at fast-casual restaurants. Thus, she determined that the primary value proposition for her restaurant "speed pass" system was to help people

avoid undesired outcomes (pains).

An important reason why individuals are often resistant to creative proposals is that research on problem framing shows that people prefer

avoiding bad outcomes over attaining good outcomes.

Interactions with direct email, social media, and referrals from friends are most directly related to the __________________ phase of customer experiences.

awareness

Entrepreneurs have limited resources and are well advised to focus their initial efforts on one market segment that holds the highest odds of success. This initial, enthusiastic market segment is often described using the military metaphor

beachhead market.

Once a startup achieves success in their initial market, they often engage adjacent markets and introduce new offerings as a means of growing their ventures. This process is often described using the metaphor of

bowling pins.

The practice of offering a configuration of features that provides an important benefit to a specific market segment is commonly called

bundling

Oswego Outerwear recently implemented automated stitching and pressing machines that allowed them to reduce their workforce and move to a smaller facility. Process innovations like this are common strategies entrepreneurial leaders may use to make their offerings

cheaper.

An "emotional job" is an outcome someone would like to attain because it

completes a task required by their work or personal life

Darwinian evolution processes derived from biology have been served as analogies for creativity, innovation, and business strategy for decades. One implication of adopting this analogy is that it emphasizes that

creativity is competitive, and new solutions make render existing solutions obsolete.

The customer segment of the Value Proposition Canvas focuses on gains, pains, and

customer jobs.

Creaction - taking smart steps that use means at hand and only invest acceptable losses - is best used when

decision makers can't make forecasts and the future is unknown.

Developing a thorough description of a customer journey that depicts sources of frustration and friction is an important means of finding opportunities to

design delightful experiences.

The primary reason that different alternatives provide different mixes of benefits (value propositions) is that

different offerings are designed to appeal to different customer segments.

Creativity is most usefully defined as a

domain-specific attribution of the relative novelty and value of a particular solution.

The book "Just Start" is based on insights from the world's top-ranked entrepreneurship program at Babson College as well as research examining expert entrepreneurs' decision making methods. Collectively, these methods are described as

effectuation.

Customers who are so concerned with the problem that they often tinker with developing their own solutions are commonly described as

enthusiasts

A process of designing, implementing and sustaining business models that create value by diffusing innovations is best described as

entrepreneurship.

Individuals and organizations need to balance their respective investments in

exploiting current routines and exploring novel alternatives.

Dr. William Green from the University of Miami suggests that everyone should learn entrepreneurial methods by describing entrepreneurship as a

form of social responsibility.

If a particular problem affects people every day, an entrepreneur could characterize that problem as

frequent.

The primary emotion that entrepreneurs must understand about their customers is

frustration

Determining that many students place a high priority on control and being their own boss is an example of a priority related to

gains.

In addition to awareness and frustration, entrepreneurs should consider whether customers in their initial target market segment

have acquired or budgeted money to address their problem.

In her TED talk explaining why design should include everyone, Sinead Burke makes a compelling case for considering

how designs affect people with special needs.

The question addressed most directly by sizing a market is

how pervasive is the frustration you want to address.

The starting point for developing any new venture value proposition is to

identify people with frustrating problems.

Once you have learned a lot about a problem and the perspectives of people who experience that problem, the next process you should undertake is to

imagine making things better.

Motivation is based on

imagining consequences associated with alternate behaviors.

If a particular problem hurts customers a lot, thereby imposing considerable frustration, an entrepreneur could characterize that problem as

important

In her TED talk describing some of the challenges she faces as a little person, Sinead Burke shares that design is a way

in which all people can feel included in the world.

Although they represent a relatively small proportion of new companies, most venture capital and a substantial amount of job creation can be attributed to

innovation-driven enterprise.

The biggest difference between creative solutions and innovations is that

innovations are intended to be adopted by other people.

The first customer segment that most entrepreneurs would be wise to target based on their high interest in problems and expertise regarding solutions would be

innovators and early adopters.

According to research describing innovation adoption curves, customers who are MOST likely to adopt a novel solution in the short term include

innovators.

The process by which individuals influence others to pay attention to an issue is best described as

issue selling.

In her TED talk describing some of the challenges she faces as a little person, Sinead Burke ends her talk saying, "Design is an enormous privilege, but

it is a bigger responsibility."

Frustration results when people perform poorly, want something they don't have, or experience hassles. In the language of value proposition design, these issues are referred to as

jobs, gains, and pains.

A process for describing how a target user/customer goes about their day and how the need for your solution might arise is called:

journey mapping.

Dr. Ford just signed up for an Instagram account so he could learn more about what kids are talking about these days. With respect to innovation adoption, Dr. Ford would be described as a(n) ________________ of social media.

laggard

According to research describing innovation adoption curves, customers who are least likely to adopt an innovation in the short term include

late majority and laggard adopters.

Considering a creative action cycle as a way of understanding creative and entrepreneurial leadership highlights the interdependence among

learning, imagining, creating, acting, and judgment.

Auto-correct employed in a texting app would be an example of a pain reliever that helps

limit common mistakes your customer makes.

Entrepreneurial leaders use methods that help them pursue creative ideas even when they lack authority or have necessary resources. Those who pursue creative ideas who DO have authority and necessary resources would typically be characterized as

managers.

Activities that are least susceptible to automation include

managing others and applying expertise.

Evidence that relevant stakeholders (e.g., customers, distributors, etc.) value your ideas and are willing to support your venture or purchase your offering is key to building new venture

momentum

Conventional thinking resulting from being too focused on one's current role and routines is often described as

myopia (nearsightedness).

At any moment, over 10 million people in the United States are taking steps to launch a new business venture. These people are described as

nascent entrepreneurs.

Normative knowledge is a type of empathy that concerns

norms regarding the presentation of credible evidence.

Creative problem-solving is often provoked by

novel questions.

Belinda created new material that could be used to make bags and luggage up to 30% lighter than traditional materials. This example best illustrates creating customer gains by

outperforming current alternatives.

A common analogy that entrepreneurs use to describe attributes of their customers and the markets they serve is

pain.

If a particular problem is commonly experienced, thereby affecting many people, an entrepreneur could characterize that problem as

pervasive.

Interactions with customer service, satisfaction surveys, and loyalty programs are most directly related to the __________________ phase of customer experiences.

post-purchase

Exploring the round half of the Value Proposition Canvas that articulates a customer segment's circumstances with respect to important jobs, desired gains, and unwanted pains is best thought of a useful tool for

problem finding.

Making a judgment regarding whether you have a problem worth solving is best assessed by considering

problem/solution fit.

Dr. Ford suggested that the best approach to enjoying a fulfilling career, one where you create value and make an impact, is to stop thinking about "getting" a job and to start thinking "doing" work that connects the

problems you care about, the talents you possess, and the things you like to do.

Innovation may make it possible for all firms in an industry to improve their products, services, and efficiency. When this happens innovators expand an industry's

productivity frontier.

Intellectual property (patents, trademarks, etc.), barriers to entry, and brand development are all common strategies used to

protect novel ideas and solutions.

Interactions with ecommerce sites, sales staff, and packaging are most directly related to the __________________ phase of customer experiences.

purchase

Developing a compelling narrative and telling and engaging story are especially essential with respect to creating ______________ for yourself and others.

purpose and meaning.

If someone is currently satisfied, you might be able to create frustrations and problems for them by

raising their aspirations.

A consultant to a congressional subcommittee investigating the causes of mass school shootings suggested a rigorous method for identifying and distinguishing symptoms from causes so that the group could formulate effective policies. Her method began by describing the problem as "mass school shootings" and they asking "why" they happen. Then for each cause identified, she continued asking "why" each of those occurred, and so on up to five times (i.e., "5-why" analysis). This method for rigorously exploring factors that contribute to or cause a problem is called

root-cause analysis.

Entrepreneurs report greater control over decisions, hours, and job security, thus suggesting that an important motivation for pursuing entrepreneurship is

self-determination.

The total number of customers experiencing the specific problem you are trying to in the geographic area that interests you is commonly described as the

serviceable available market.

The portion of a market that a specific company is able to capture is typically described as their

share of market.

An entrepreneurial process that involves getting other involved through help-seeking, storytelling and partnering is

social organizing.

Effective entrepreneurs are most likely to

take smart steps that require only tiny bits of faith.

Your ability to create value and make an impact lives at the intersection of: problems you care about, outcomes you desire, and

talents you possess.

A customer persona or archetype is a generalization or caricature intended to represent

the one you would like to help.

A popular, concise definition of entrepreneurial leadership that clearly distinguishes it from traditional management or administration describes entrepreneurship as

the pursuit of opportunity beyond resources controlled.

A market opportunity is usually described as

the total revenue that might be earned from a specified share of the market.

Gaining empathy for the characteristics and roles of your customers is an important part of empathy mapping that can help you understand

their goals.

When entrepreneurs offer novel alternatives to customers

they create new possibilities.

When considering the customer's experience, you should think about all the __________ or "moments of truth" that define the quality of a customer's experience and the authenticity of a company's brand promise.

touchpoints

Capacitech, a UCF startup company, recently earned a $225,000 grant from the National Science Foundation that has helped them to engage potential corporate partners interested in developing their technology solutions. This kind of momentum demonstrating that potential supporters value a novel offering is commonly described as

traction

Invisasox is a student-led startup that offers innovative no-show socks (seriously, they're awesome!). They started by making 1500 socks to see if people would buy them. Customers did, so Invisasox used their revenue to make and sell 5000 socks, and then used those profits to make and sell 15,000 socks. This kind of momentum demonstrating that customers value your offering is commonly described as

traction

When you create something new that others adopt (an innovation), you are likely to

undermine existing routines and solutions.

The most important reasons we discussed for analyzing features and benefits provided by alternative solutions is to

understand the value propositions current solutions offer to customer segments.

Framing a problem by highlighting the need to act quickly in order to avoid pains or realize gains refers to

urgency.

Entrepreneurs (and all design thinkers) consider current norms, practices, and experiences as a means of imagining

what could be.

Understanding people's current experiences within the universe of available solutions allows entrepreneurs to understand

what is

Learning and imagining revealed gaps between

what is and what could be.

The young woman you saw visiting a delightful café with smiling staff, free muffins, and discounts for promoting on social media avoided the hassles of the cheap diner she visited previously and attained some unexpected happy surprises. With respect to empathy mapping, these insights into the pains and gains guiding her morning can help you understand

what she thinks and feels.

If you were to notice a young woman leaving a restaurant because she saw the cook being careless, sloppy, and unclean, you could likely empathize with her experience. Noticing things that people see and hear can be especially helpful for understanding __________________ when one is developing an empathy map that describes a customer experience.

what they do

The start of a new venture development journey is best focused on developing your understanding of

what you do and who you help.

The results of a Fishbone Diagram help you know

what you don't know.

Once you understand how your customer thinks and feels about a problem, you might be able to learn a lot about current approaches to addressing the problem by "Googling It" to identify

where your customer finds alternatives.

In addition to identifying products of services that customers might buy to address their problems, it's also important to consider

whether you customer is motivated enough to pay for a solution.

Which of the following is NOT promoted by developing your entrepreneurial mindset?

whiter teeth.

Relational knowledge is a type of empathy that concerns

who is likely to be affected, who cares, and who objects.