exploring the entrepreneurial perspective

Dr Ghaddar states that customer perception of value comes in two different ways, quantitative and qualitative. Qualitative perception are things such as design and brand name. What are some of the quantitative ways?

Affordable price and speedy service

The best way for self-awareness to build over time is to

give yourself the space for insights to develop and to seek feedback from trusted sources.

Reducing biases and providing equal opportunities for entrepreneurs of different races, places, and genders is considered

good for business

Which of the following is a common entrepreneurship myths?

have no boss???

Entrepreneurship is a lifestyle in which entrepreneurs get to

improvise, set your rules, and think creatively to accomplish your goals

Within the "Create Pillar", there are five main programs. Identify two of them

innovation zone and proof of concept center

Entrepreneurial opportunities embedded in established companies are referred to as:

intrapreneurship

In his video, Culture, Structure, and Entrepreneurship, Dr. Coles stated that "social surroundings influence our entrepreneurial journey" what is one of the main components of those surroundings?

laws and rules

In his viedo, Recap and Concluding Remarks, Dr. Noble stats two keys for getting into the "doing mindset." What are they?

starting and organizing

One important way to address the weak element of knowledge in entrepreneurial ecosystems is to:

stimulate spinoffs from knowledge intensive orgs.

One significant way we are exposed to external biases is through our own experiences and/or by witnessing the experiences of others.

true

Partnerships with suppliers and third-party manufacturers are usually formed to reduce costs, and often involve outsourcing or sharing infrastructure.

true

There are four Characteristics of an Entrepreneurial Mindset according to the article, Business 101: How to Develop an Entrepreneurial Mindset. What are two of the main skills?

- accountability and willingness to experiment

What is Ikigai?

- is an attempt to capture the idea of an individuals life purpose

What is the ratio of Americans that have had their lives improved by innovations that came from America's life sciences and biotech companies?

1 in 3

Which of the following statements is most accurate?

Business models are not necessarily articulated or effective

Which program provides an 8 week entrepreneurial experience?

CCEI summer fellowship

Which of the following statements best describes Coopetition?

Coopetition is when two companies that compete against each other decide to cooperate.

What three steps does the author of the "Entrepreneur" article titled How to Leverage Your Skills to Start a Side Business, highlight to help you focus on the activities that matter?

Define your service, ideal customer, and acquisition channel.

the theory of "creative destruction" is exemplified by

Entrepreneurial innovations that transform an economy.

What are some of the internal biases that female entrepreneurs face on their entrepreneurship journey?

Imposter syndrome, not being outgoing enough, not being a white male

What is the NetWerx Program?

It is the Werth Institute's flagship undergraduate-alumni mentoring program

what is the traction program?

The Traction program supports UConn-affiliated startup ideas as they work to validate their concept.

What does Dr. Noble mean by organizing?

To build an organizational mechanism which allows you to understand where you're having success over time and where, and avoid losing.

Why is having good partnerships and mentorships in your ecosystem from the beginning so important?

You'll save time and energy while finding other resources like talent and space.

According to Jennifer Mathieu, what is "self-awareness"?

ability to really see ourselves clearly

What is the first step to counteracting external biases?

acknowledging it in ourselves

There are three domains where data science and business intersect - what are they?

statistics, software engineering, and domain/business knowledge

What is the metric that companies use as its primary focus for growth?

the north star

Our social surroundings are better predictors of whether or not we will be entrepreneurs.

true

What is the first step in building an entrepreneurial mindset?

you must understand what you do know and what you dont

Which statement describes how the Pitney Bowes business model has changed over time?

Pitney Bowes added financial services, software, and label printing to offset the declining use of postage meters

Companies maintain online communities that allow users to exchange knowledge and solve each other's problems. Reddit, the social news website and forum, is an excellent example of that. Which of the following statements is most accurate:

Reddit offers a network of communities where users can dive into their interests, hobbies, and passions. The content is socially curated and promoted by site members through voting.

How is the "open markets" attribute defined?

Sufficient local opportunities to enable venture creation & access to global markets

UConn has a minor program of study, jointly offered by the School of Business and Engineering. What is this minor called?

Uconn provides entrepreneur classes and multiple entrepreneur programs

Successful leaders and organizations think, act, and communicate in the same way, which is the opposite to everyone else. What question do these leaders and organizations answer or communicate first?

knowing your purpose and believing it

Dr.Ghaddar talked about different types of customer segments, name 2 of them.

niche market and segmented market

In his video Culture, Structure, and Entrepreneurship, Dr. Coles stated that "social surroundings influence our entrepreneurial journey." What is one of the 2 main components of those surroundings?

norms and culture

Which job is the intersection between user experience, tech, and business?

product manager

the fear of failure can affect people in unfortunate ways, identify two of them

they make wrong career desicisions and expect too much of themselves

Awareness of global current events, and persuasive communication skills are needed skills to be a successful Financial Analyst.

true

markets are absolutely embedded and formed within a society's culture and norms

true

uconn and state of CT have many resources to support entrepreneurs, such as CCEI adn SBCD

true

Finding the right mix of channels to satisfy how customers want to be reached is super important in bringing a value proposition to market. A company can choose between reaching its customers through its own channels, through partner channels, or through a mix of both. Which of the following statements is most accurate:

Partner channels lead to lower margins. However, they allow a company to expand its reach and benefit from a partner's network.

Identify 2 ways in which UConn helps students entrepreneurs.

Uconn provides entrepreneur classes and multiple entrepreneur programs

Identify the program that provides teams with 5 weeks of training on the business model Canvas and customer discovery process, coaching from industry experts, up to $2,000 to support customer discovery, and helps to identify team members.

accelerate uconn

In the Indeed article titled, How to Make a Career Plan in 8 Steps, SMART stands for Spacific, measurable, time-based, and what else?

attainable and relevant

what are two of the main skills for a strong product manager

design workshops and market your product

leading an organization that I dont own is considered

entrepreneurship

What is the first step toward monetizing your skills?

gaining confidence about the value that you bring to the table

Name two of the many skills sales representatives need to be successful.

relationship building and negotiation

who is the economy's most direct connection to clientele

sales representative

UConn has a minor program of study, jointly offered by the School of Business and Engineering. What is this minor called?

the entrepreneurship and technology innovation minor

Building "inspiration capital" will correct the outdated myths and break down the stereotypes and default images of who can be an entrepreneur.

true

Culture and norms are important because they influence which individuals which individuals and society have power and which ones don't.

true

Most individuals do not enter directly into entrepreneurship, but maintain a wage-earning position simultaneous to launching a venture.

true

The most common criticism of the lean startup is that it pushes founders toward incremental ideas that are easy to test.

true

The role of an ecosystem builder is to put entrepreneurs front and center and determine how to make a community supportive of all types of entrepreneurs.

true

Two key findings from research by Leatherbee and Katila are that (a) by making explicit your hypotheses you can reduce uncertainty about your idea; and (b) customer interviews inspire new ideas not originally considered.

true

Ventures should scale as fast as possible even if their business model is lacking.

true

Werth student Innovators can come from any department, including engineering.

true

Ikigai furthers the process of self-awareness by asking individuals 4 main questions:

what you love, what you're good at, what the world needs, and what you can be paid for

To be a successful entrepreneur you should always focus on doing things that scale.

false

what is the purpose of the innovation zone

A "Makerspace" which provides the tools, equipment, and guidance for students

What are the 2 most common myths about entrepreneurship?

Entrepreneurs are self-made, entrepreneurship is not lucrative

Creating content and sharing it with a massive number of followers is considered

entrepreneurial behavior

noticing a need and creating a product to meet that need is considered

entrepreneurship

Professor Howard Stevenson identifies entrepreneurship as

entrepreneurship is the pursuit of opportunity beyond resources controlled

Who can be an entrepreneur?

everyone

What is the main event UConn holds for entrepreneurs which brings together all of the different entrepreneurial resources and opportunities, as well as programs across campus in the student union ballroom, once a year in October, during the Month of Discovery?

experience innovation expo

According to Jenifer Mathieu if you strive for perfection, you can achieve it

false

As a product manager, you should understand your users needs but not their personas.

false

Entrepreneurs and their employees both earn higher financial income than similar individuals working in wage positions.

false

Entrepreneurship is only based on building scalable businesses with new inventions.

false

Individuals seeking high upside financial potential should pursue a lifestyle opportunity.

false

MiMoto is one example of a company failing because they did not effectively implement the Lean startup method.

false

People who are confident and skilled do not experience fear of failure

false

Spotify, the music streaming service, generates revenues through subscription fees, advertising, and most importantly customer lease agreements.

false