ECON 125 Final UNC
In the article "How to Give Negative Feedback Without Sounding Like a Jerk" which of the following is NOT mentioned as a reason that negative feedback is necessary? A. Most team members want to grow and this is only possible with corrections once in a while B. Employees who get negative feedback are on average likely to work harder to improve it C. Offering sound negative feedback yields positive results D. None of the above
A. Most team members want to grow and this is only possible with corrections once in a while
Which of the following is NOT one of the 6 P's mentioned in the article "How to Build a Great Pitch that Hooks Investors"? A. Provoke B. Process C. People D. Proof
A. Provoke
The interactive system for descriptive analytics of student results in the form of a dashboard introduced by Nottingham Trent University is an example of: A. Using big data to improve learning experiences B. Online simulations for sharpening practical skills C. Making the learning process fun D. Achieving lifelong education
A. Using big data to improve learning experiences
Which of the followings is NOT what Dr. Land referenced when talking about using the right and left brain in the creative process: A. With focus it is possible to effectively use convergent and divergent thinking at the same time B. When we're busy judging our ideas, there's no room for the weird, wild, or original thoughts to occur C. The more schooling and education we receive, the more our convergent and divergent thinking dual D. We often simultaneously try to come up with new ideas and judge them at the same time
A. With focus it is possible to effectively use convergent and divergent thinking at the same time
According to the article "Define and Frame Your Design Challenge by Creating Your Point Of View and Ask 'How Might We'", which one of the following is important to creating a POV? A. all of the above B. guiding your innovation efforts C. inspiring your team D. providing a narrow focus
A. all of the above
What is not a common prototype? A. all of the above are common prototypes B. mock-up C. create models D. role play
A. all of the above are common prototypes
According to the article "13 Tips on How to Deliver a Pitch Investors Simply Can't Turn Down", what is an important aspect of the pitch startups usually miss? A. an exit strategy B. each of their competitors C. a working prototype D. the fixed and variable costs
A. an exit strategy
The purpose of testing does NOT include: A. confirming others like your solution B. validating assumptions from empathy interviews C. soliciting feedback on prototypes D. learning more about the customer and problem for your next iteration
A. confirming others like your solution
According to the article "Lean Canvas - a Tool Your Startup Needs Instead of a Business Plan" Stanislav explains that the business model canvas is more suitable for ____ while the lean canvas is more suitable for _____ A. existing businesses; startups B. startups; existing businesses C. large businesses; small businesses D. small businesses; large businesses
A. existing businesses; startups
Which of the following was referenced during the giving and receiving feedback video A. keep a positive mindset B. effective feedback can sometimes be delivered and feel like a personal attack C. people are often surprised by the negative feedback they receive D. both a and c
A. keep a positive mindset
The back-of-the-envelope model is built to determine: A. whether your startup idea could be profitable B. whether the target users would like your idea C. whether the potential investors would like your idea D. whether your idea is competitive in the market
A. whether your startup idea could be profitable
Which of the following was NOT one of the 7 EdTech Market Trends cited? A. Immersive learning is going mainstream B. A-F grading systems C. Subscriptions are taking over the world D. Gamification keeps on engaging students
B. A-F grading systems
According to the article "Startups Need Relationships Before They Ask for Money", which of the following is an approach to building a relationship with an investor besides a formal meeting? A. Offering help to your investor when he reaches out to help B. Going to events and introduce yourself C. Emailing your investor with your own comments on his blog D. All of the above
D. All of the above
According to the article "Startups Need Relationships Before They Ask for Money", which of the following is an approach to building a relationship with an investor besides a formal meeting? A. Offering help to your investor when he reaches out to help B. Going to events and introduce yourself C. Emailing your investor with your own comments on his blog D. All of the above
D. All of the above
What should you avoid doing while prototyping? A. Dive into your first good idea B. Fall in love with your prototype C. Prototype without a purpose D. All of the above
D. All of the above
What should you do to perform SWOT analysis? A. Consider the information you need B. Analyze each element of SWOT C. Create a strategic mission that is consistent with all four D. All of the above
D. All of the above
When are you being an entrepreneur in your life? A. When you start a new company B. When you choose to pursue a minor in Entrepreneurship at UNC C. When you look for an internship D. All of the above
D. All of the above
Which of the following belongs to common non-verbal cues in the subsection 'OBSERVE BODY LANGUAGE' of the article 'HOW TO CONDUCT EMPATHY INTERVIEWS'? A. Crossed-arms B. Moving closer C. Facial expressions D. All of the above
D. All of the above
Which of the following is a question you should think about when trying to invoke the investors' emotions? A. What's powerful or compelling about the problem you're trying to solve? B. Did something propel you to develop this product? C. What are the core skills necessary to build the product? D. All of the above
D. All of the above
Which of the following is NOT a reason tradeoff occurs? A. Tailoring a company to operate in a specific manner to meet a certain strategy B. It is never possible for a company to improve quality and cost at the same time C. Choosing to compete in one way and not another to hold a competitive advantage D. Inconsistencies in reputation of a company
B. It is never possible for a company to improve quality and cost at the same time
According to the article "How the democratization of funding is changing the venture capital landscape", what action will create visibility for an entrepreneur and allow them to correctly value their company? A. Iterating their prototype B. Market validation C. Launching their website D. None of the above
B. Market validation
According to the Fortune Article, "Inside the ambitious venture Bill Gates built to beat climate change", why is it hard to create markets for clean-energy technologies? A. They are differentiated B. More expensive than their fossil fuel-based counterparts C. Easy to commercialise D. More efficient
B. More expensive than their fossil fuel-based counterparts
Which one is the last stage of "team stages" ? A. Norming B. Performing C. Storming D. Forming
B. Performing
Which of the following did Google's Project Aristotle fine to be the most crucial aspect of a successful team? A. Like-minded individuals B. Psychological Safety C. Clearly defined team goals D. Strong communication
B. Psychological Safety
Which of the following is NOT one of the seven components of the empathy map? A. Pain B. Solve C. Think & Feel D. See
B. Solve
Which of the following is NOT a travel trend in 2022 based on the article "7 Travel Industry Trends For 2022 (and Beyond)"? A. Travellers Go It Alone B. Sustainability is easy C. Travel Tech Adoption Accelerates D. Consumers Blend Business And Leisure Travel
B. Sustainability is easy
Which of the following is a key reason to ask neutral questions when conducting an empathy interview? A. To make your customer give you the answers you want B. To avoid implying that there is a "correct" answer C. To control the flow of the interview D. To avoid confusion with the question you are asking
B. To avoid implying that there is a "correct" answer
When brainstorming "How Might We" questions, you should NOT A. Consider your design challenge statement B. Use preconceived solutions C. Utilise your empathy map D. Define your user and their needs
B. Use preconceived solutions
What should you avoid when brainstorming? A. Thinking of wild ideas B. Using "but" statements when building on others' ideas C. Creating as many ideas as possible D. Having only one conversation at a time
B. Using "but" statements when building on others' ideas
What question you should ask yourself before creating your MVP? A. What will my next pivot be? B. What is the value I am offering? C. Where is the best location for my product? D. How much revenue do I need to generate to make a profit?
B. What is the value I am offering?
During empathy interviews, you should NOT ask: A. Emotion-triggering questions B. Yes or no questions C. Why or why not D. "Show me" questions
B. Yes or no questions
According to the article "The Discipline of Innovation", which one of the following is a source of innovation? A. unexpected occurrences B. all of the above C. new knowledge D. demographic changes
B. all of the above
According to one of the videos in the virtual session, a big reason people find providing a teammate negative feedback hard is: A. belief that engagement and conversation is not needed B. belief that constructive criticism will harm a relationship C. belief that saying nothing will lead to better results D. none of the above
B. belief that constructive criticism will harm a relationship
Two founders of a Virtual Reality startup created a rough cardboard representation of a product they are developing and they taped paper sketches of screens a user would scroll through on a cellphone to show how the product would interface with a mobile device. What prototyping technique(s) are being used? A. mock-up B. both mock-up and model C. story D. model
B. both mock-up and model
All of the following are keys to delivering a successful pitch except: A. storytelling B. incorporating sophisticated valuations C. concise explanations of your product and target audience D. practicing your pitch
B. incorporating sophisticated valuations
When developing a prototype, you should: A. spend at least 15 minutes explaining your product B. make a quick prototype for users to experiment with C. be seeking to get consumers to buy the product D. make sure you have created a quality design before testing
B. make a quick prototype for users to experiment with
In the pediatric MRI example, what did Doug and his team not consider as fully as they should have in their initial design? A. how to make a prototype B. the perspective of the user C. whether the product they designed could make money D. what the latest technology was
B. the perspective of the user
Which of the following is NOT one of the 4 stages of teaming according to the Tuckman model? A. storming B. touring C. forming D. norming
B. touring
Gabby Brink states than an iterative process allows one to: A. move through concepts more quickly B. gain validation along the way C. all of the above D. learn if what they have created is being used by people in their lives
C. all of the above
From the article "Creativity is a process" great ideas come from A. stopping after the first idea B. none of the above C. coming up with many ideas in a group D. thinking alone
C. coming up with many ideas in a group
When building an empathy map, team members should: A. silently input their pieces of information B. defend and sell their own findings when there are conflicting views based on other team members' findings C. discuss and compare their findings with other team members D. never investigate the cause of customer pain points
C. discuss and compare their findings with other team members
What should you do right after developing your first back of the envelope financial model calculation? A. stop if your model is not profitable B. begin hiring employees C. go out and test the assumptions used in your model D. start selling immediately
C. go out and test the assumptions used in your model
Fill in the blanks with the correct options below. "Always prototype as if you know you're ____, but test as if you know you're _____." A. wrong, right B. wrong, wrong C. right, wrong D. right, right
C. right, wrong
Success is more likely to result from the systematic pursuit of opportunities than from a flash of genius. Keeping this in mind, Peter Drucker's work focuses on which of the following? A. Revolutionary changes in a market are a prerequisite for innovation B. Small changes can result in a major opportunity C. Stability in a market is a prerequisite for doing something new D. Promotion is key
Small changes can result in a major opportunity
Which of the following best describes the Tuckman Model: A. Each stage takes the same amount of time B. High performing teams only go through each phase once C. It is a bad sign if your team spends a long time in the storming phase D. High performing teams sometimes have to revisit different phases
D. High performing teams sometimes have to revisit different phases
Which of the following is NOT a core question when evaluating whether your venture is financially viable? A. How much should I charge for my product/service? B. How much it will cost me to acquire a customer? C. How many customers will pay for my product/service? D. How can I attract customers?
D. How can I attract customers?
Which of the following descriptions is wrong about brainstorming: A. We use it in the ideation phase. B. We produce a set of potential solutions with it. C. Although it seems to be without constraints, we still need house rules to keep on the right track. D. It allows introverts stay quiet while extroverts dominate.
D. It allows introverts stay quiet while extroverts dominate.
According to the HBS article "How to Build a Great Pitch that Hooks Investors," which 3 P's are essential for creating a pulse-raising hook? A. Problem, proof, people B. Product, profit, process C. People, product, profit D. Problem, product, people
D. Problem, product, people
Which of the following BEST describes how IKEA creates a barrier to entry for competitors? A. Iterating fast and pivoting B. Exclusive distribution channel C. Economies of scale D. Product differentiation
D. Product differentiation
Based on the article "Prototyping: The Design Process to Pressure-Test Ideas", which of the following is not one of the steps in the The Process for Developing Fail-Proof Ideas with Prototyping? A. DETERMINE WHAT TO PROTOTYPE B. MAKE IT REAL C. GET FEEDBACK D. Settle down the idea and ignore the feedback
D. Settle down the idea and ignore the feedback
In the example, Chilean mining crisis, which of the following created the psychological safety? A. Leadership B. Curiosity C. Situational humility D. The combination of situational humility and curiosity.
D. The combination of situational humility and curiosity.
Drucker takes IBM's success as an example of: A. Changes in perception B. New Knowledge C. Process Needs D. Unexpected occurrences
D. Unexpected occurrences
Which of the following was NOT one of the 6 wellness trends discussed in the readings? A. More personalization B. Involvement of influencers C. Natural and clean product lines D. Use of augmented reality devices
D. Use of augmented reality devices
According to the article "13 Tips on How to Deliver a Pitch Investors Simply Can't Turn Down", which of the following is NOT a suggested tip? A. Working on how to address potential questions you may be asked B. Personalizing your pitch into a story C. Clarifying what makes your idea unique D. Using all of the time given for a pitch
D. Using all of the time given for a pitch
Which of the following concepts is NOT part of the principle "Bias Towards Action" A. Getting out and talking to people B. Learning by Doing C. In-person teamwork and collaboration D. Using google docs to replace team meetings
D. Using goggle docs to replace team meetings
Based on the article 'Design thinking vs lean start-up; If you build it, will they come?', Which of the following doesn't belong to the IDEO CEO Tim Brown's criteria for successful solutions? A. Desirability B. Feasibility C. Viability D. Visibility
D. Visibility
Should you test your prototype on 'extreme' users? A. No, they will skew your results B. No, because they aren't always honest C. Yes, because extreme users almost always give better input than a regular user D. Yes, because extreme users can often be more vocal about their like/dislike for the prototype
D. Yes, because extreme users can often be more vocal about their like/dislike for the prototype
To estimate the revenue you do NOT need to forecast A. What you will charge for your product/service B. How many customers will pay C. How many times they will pay D. You need all of the above
D. You need all of the abov
To estimate the revenue you do NOT need to forecast A. What you will charge for your product/service B. How many customers will pay C. How many times they will pay D. You need all of the above
D. You need all of the above
According to the article, "Tell It Like It Is: Radical Candor Is the Feedback Method Your Startup Needs", it is important that feedback is A. specific B. objective C. actionable D. both a and c
D. both a and c
Which of the following is NOT an example of fixed costs? A. legal and accounting costs B. costs to develop a software system to deliver your digital product C. employee compensation D. costs to deliver your product/service
D. costs to deliver your product/service
By keeping financial analysis to the back-of-the envelope method, you can explain all of the following to investors EXCEPT: A. major risks of the startup B. key opportunities of the startup C. startup profitability D. percentage of stock ownership you will give away in exchange for funding
D. percentage of stock ownership you will give away in exchange for funding
In the virtual session, which of the following was NOT cited as one of the key reasons to use Empathy Maps A. Remove bias from our designs B. uncover user needs that the user themselves may not even be aware of C. align the team on a single, shared understanding of the user D. synthesizing secondary research about your target user
D. synthesizing secondary research about your target user
According to researchers from Project Aristotle, teams were found to be less successful if they allowed members to speak equally rather than have experts dominate topics in their areas. True False
False
According to the Entrepreneur article, the more time you spend telling your pitch, the better. True False
False
According to the Fortune article, many of the zero carbon and clean energy ideas are appropriate for venture funding. True False
False
According to the article "Everyone Pivots: The Truth About A Startup Pivot', perseverance involves grinding away at an idea, even if it isn't working. True False
False
According to the article "How to Build a Great Pitch that Hooks Investors", if you can't show passion point in Problem, Product, and People, you will lose investor interests TrueFalse
False
According to the article "What Google Learned From Its Quest to Build the Perfect Team", in order to establish psychological safety, team members should shy away from emotional sharing, and focus just on efficiency. True False
False
According to the article, you should get feedback from internal stakeholders in the early stages of the testing process before you begin testing with users. True False
False
As we grow up and learn to accept others' opinions, the ability of creativity grows. TrueFalse
False
In design thinking, once you have gotten through to testing you have finished the process. True False
False
The key to looking for opportunities is looking for change. True False
False
You should test your one-minute hook on family members and friends. True False
False
Netflix's success is an example of which of the following changes in industry market structure described by Drucker? A. Maturation B. Convergence of multiple industries C. Rapid growth D. Fundamental change in the business model
A. Maturation
In the article "Everyone Pivots: The Truth About A Start-up Pivot", what does MVP stand for? A. Minimal Viable Product B. Minimal Valuable Product C. Most Viable Product D. Most Valuable Product
A. Minimal Viable Product
Which of the following is NOT an example of an unfair advantage for a venture? A. A new market trend B. Exclusive data access C. Exclusive access to a community D. Brand reputation
A. A new market trend
A prototype is: A. All of the above B. Ideally something a user can experience C. It could be a wall of post-it notes, a gadget you put together, a role-playing activity, or even a storyboard D. Used as a way to prove, or disprove, fundamental assumptions
A. All of the above
Which of the following is one of the criteria for the Solution Lifecycle Framework? A. All of the above B. Reliability C. Feasibility D. Desirability
A. All of the above
According to the HBR Article: What is Strategy? Michael Porter explains that in order to outperform rivals, companies must: A. Establish a difference that it can preserve B. Be more innovative than all competitors C. Have been in the industry for at least 5 years D. Have a competitive pricing strategy
A. Establish a difference that it can preserve
Lean canvas is A. a tool to determine how much funding one can raise B. a formal business plan used to pitch to investors C. a problem-solution approach for new entrants in the market D. All of the above
C. a problem-solution approach for new entrants in the market
Based on the article "Startups Need Relationships Before They Ask For Money," which of the following is NOT key to building trust before asking for money? A. Being conversationally humble B. Focusing on your product in a conversation C. Establishing common relationships D. Show that you know what you don't know
B. Focusing on your product in a conversation
Which of the following was NOT provided as a reason for why to create a Team Charter: A. Build agreements around things like how a team will operate B. Identify who should, and should not, be included in the team C. Get to alignment on the goal and purpose of the work a team will be doing together D. Make decisions on how and when the team will meet
B. Identify who should, and should not, be included in the team
Which of the following is NOT one of Porter's 5 competitive forces referenced in the virtual session? A. Threat of new entrants B. Infringement of intellectual property C. Bargaining power of buyers D. Rivalry among existing competitors
B. Infringement of intellectual property
Which of the following best describes the process for developing a Point of View: A. Identify needs, Express key insights, Define your user B. Define your user, Identify needs, Express key insights C. Identify needs, Define your user, Express key insights D. Define your user, Express key insights, Identify needs
B. Define your user, Identify needs, Express key insights
Which of the following is NOT a focus of the lean canvas tool? A. Considering various customer segments to cover a wider range of potential product users B. Emphasizing customer interrelation and channels C. Foreseeing a quicker idea-to-product transition D. Focusing on the viable metrics instead of the useless ones
B. Emphasizing customer interrelation and channels
Which of the following is NOT core to the methodology when people are using lean startup? A. Validate with a minimum viable product B. Experiment with A/B testing C. Pivot D. Iterate fast
B. Experiment with A/B testing
Which of the following is NOT a rule of effective brainstorming? A. Go for quantity B. Float off topic C. Be visual D. Encourage wild Ideas
B. Float off topic
In the "What is Strategy" reading, what strategy is Neutrogena associated with? A. Cost Leadership B. Focused Differentiator C. Cost Competition D. None of the Above
B. Focused Differentiator
Which of the following SWOT elements are internal factors for a business? A. Opportunities and Threats B. Strengths and Opportunities C. Strengths and Weaknesses D. Weaknesses and Threats
C. Strengths and Weaknesses
According to the article "Why every startup should bootstrap", bootstrapping allows you to... A. have greater control over your business B. attract the right talent who are willing to bet on your vision C. A and B D. None of the above
C. A and B
Which of the following is an example of Customer Segmentation? A. Merging with competitors to raise prices B. Shifting all focus towards lowering costs C. A textbook publisher offering different versions of a book for teachers and students D. Increasing advertising
C. A textbook publisher offering different versions of a book for teachers and student
From the article, which of the following is a reason to consider testing your ideas on a large range of users? A. It may help to capture cultural differences which might be valuable for international products B. Testing on extreme users may highlight issues that affect normal consumers as extreme users are more likely to voice concerns C. All of the above D. Discussing your ideas with stakeholders or individuals on the production side might highlight restrictions that you need to face if your prototype is to be actually made
C. All of the above
According to "Leading in The Green Business Boon," which of the following best describes how businesses should look at sustainability investments? A. As savings B. An additional expense C. An opportunity D. A waste of time
C. An opportunity
In the article: How to Conduct Empathy Interview, what tip is NOT mentioned for how to conduct an empathy interview? A. Observe body language B. Avoid binary questions C. Avoid tangents D. Ask neutral questions
C. Avoid tangents
What did the behavior researchers find that all the good teams generally shared? A. Members speak roughly in the same portion B. High average social sensitivity C. Both (A) and (B) D. Neither (A) or (B)
C. Both (A) and (B)
What can you learn from conducting empathy interviews? A. Learn about what is important to your potential users B. Solutions you may not have discovered otherwise C. Both A and B D. None of the above
C. Both A and B
In Porter's HBR article, which is NOT cited as a reason for why fit is important in strategy? A. Fit makes it harder for imitators to match your company B. One activity's costs can be lowered because of the way others are performed C. Companies can simply maintain their current position D. The consistency ensures that competitive advantage accumulates
C. Companies can simply maintain their current position
Which of the following is NOT one of the outside resources for opportunity following Drucker's model? A. Changes in Perception B. Demographics C. The Unexpected D. New Knowledge
C. The Unexpected
According to article "The "What? Why? How?" of Prototyping", which of the following is not a reason for prototype? A. To communicate B. To start a conversation C. To fail expensively D. To test possibilities
C. To fail expensively
Which of the following is NOT mentioned as a funding source for ventures in the article "How the democratization of funding is changing the venture capital landscape"? A. Angel investors B. Crowd-funding C. Credit Card D. VCs
C. Credit Card
In the article "The Discipline of Innovation", which of the following sources of innovation was taken by the Japanese, who now have a great lead in robotics? A. Incongruities B. Industry and market changes C. Demographic changes D. Changes in perception
C. Demographic changes
Which of the following is NOT an aspect of psychological safety? A. Having a safe space to take risks B. Conversational turn-taking C. Having an agenda and keeping meetings on track D. Average social sensitivity
C. Having an agenda and keeping meetings on track
Which of the following is NOT a direct benefit of Radical Candor? A. Helps leaders fire fast B. Helps those young and inexperienced employees grow C. Helps organizations attract more customers D. Helps employees build trust in teams
C. Helps organizations attract more customers
Which of the following is an inappropriate question in an empathy interview? A. What do you think about how COVID has affected the college experience? B. Can you say more about that? C. I play tennis. You should try it. Have you ever thought about trying tennis? D. Show me how you use your scheduling app?
C. I play tennis. You should try it. Have you ever thought about trying tennis?
Which of the following is not correct about CarbonCure? A. It takes the carbon from the cement-making process and reinjects it back into the concrete. B. It received a significant investment. C. It achieved the goal of reducing carbon 100%. D. It needs market force for its future progress.
C. It achieved the goal of reducing carbon 100%.
In what way does design thinking differ from the commonly held notion of the innovation process? A. It holds a build first, then finds customer approach B. It starts with an "MVP" C. It focuses on identifying a need for a product or service initially D. It focuses on delivering a solution to consumers
C. It focuses on identifying a need for a product or service initially
Which of the following is an element in the lean canvas? A. Key resources B. Key activities C. Key metrics D. Key partners
C. Key metrics
Which of the following is not an inside source of opportunity? A. Process needs B. The unexpected C. New knowledge D. Industry market structure
C. New knowledge
The design thinking process can be described as: A. Linear B. Fixed C. Non-linear D. None of the above
C. Non-linear
In the pediatric MRI example, projecting an aquarium picture onto an existing MRI machine is an example of which design thinking principle? A. Ideate B. Test C. Prototype D. Define
C. Prototype
What is the first step for an entrepreneurial idea: A. Build the most excellent product in the world B. Develop a plan to grow your business C. Prove/Disprove the fundamental assumptions D. Hire the most talented employees
C. Prove/Disprove the fundamental assumptions
Which of the following was a key step GE took when designing their prototype? A. Making sure they chose the right characters B. Acquiring all of the resources necessary for a fully-functioning product C. Putting themselves in the child's shoes by going through the test themselves D. Designing matching coloring books
C. Putting themselves in the child's shoes by going through the test themselves
Based on the reading, which of the following is a good practice for developing How Might We (HMW) questions? A. Brainstorm about potential solutions as the starting point before developing HMW questions B. As a starting point, you should be seeking to develop 2-3 HMW questions for your Point of View C. Seek to balance being narrow enough to give some focus to brainstorming, but broad enough to allow for exploring wild ideas D. Always aim for specific questions that will enable the ability to easily identify clear solutions
C. Seek to balance being narrow enough to give some focus to brainstorming, but broad enough to allow for exploring wild ideas
Which of the following items is NOT cited as a challenge that can be experienced during brainstorming? A. Having your team stay off topic to address other problems B. It is not easy to have boundless freedom in your idea development C. Effectiveness of brainstorming can be limited by initial group awkwardness D. Developing a potential solution through the refinement of ideas discussed
D. Developing a potential solution through the refinement of ideas discussed
Which is NOT an emphasis of the lean canvas model? A. Focusing on the viable metrics instead of the useless ones B. Foreseeing a quicker idea-to-product transition C. Considering various customer segments to cover a wider range of potential product users D. Emphasizing customer interrelation and channels
D. Emphasizing customer interrelation and channels
Which of the following is NOT the focus when seeking to understand whether you will have a profitable and financially viable venture idea? A. Estimating the cost of acquiring a customer B. Estimating the revenue C. Estimating the fixed cost D. Estimating competitors' fixed costs
D. Estimating competitors' fixed costs
Which of the following is NOT true about fixed costs? A. Fixed costs should always be considered when viewing the full financial model B. An example of a fixed cost is paying rent for office space C. Fixed costs are predetermined expenses that remain the same throughout a specific period D. Fixed costs will vary based on how much you produce
D. Fixed costs will vary based on how much you produce
Which of the following is NOT something the organization Bill Gates founded called Breakthrough Energy hopes to accomplish? A. Directly commercialize some of its carbon-zero products B. Provide a road map for creating some type of "artificial market structure that may have a public-private mechanism to spur demand" C. Fund pilots that are designed to help lower the costs of these large-scale clean-energy technologies D. Fund lots of smaller, early stage environmentally focused companies in the hopes that a few will be successful and result in a large valuation and IPO (Initial Public Offering)
D. Fund lots of smaller, early stage environmentally focused companies in the hopes that a few will be successful and result in a large valuation and IPO (Initial Public Offering)
What should the flow of the empathy interviews feel like? A. Formal interview B. Business meeting C. Taking a class D. Having an open conversation with a friend
D. Having an open conversation with a friend
In choosing subjects for an empathy interview, it is important to focus on extremes, as well as people in the middle on a topic area. True False
True
In the Performing stage of the Tuckman model, dissent is expected and allowed through means acceptable to the team. True False
True
More consumers said they were going to spend more on wellness than those who said they would spend less. True False
True
Prototype testing should not just focus on the average user. TrueFalse
True
With empathy interviews, particularly in the early stages, the goal is to understand users by having an open conversation, not to confirm an idea. TrueFalse
True
You should develop a strategy because you will not be able to continually out-execute the competition True False
True
You should develop a strategy because you will not be able to continually out-execute the competition. True False
True
