Multiple choice Flashcards
Which of these alternatives do you feel better defines what is innovation in a business context:
a) Channeling your imagination into something concrete.
b) A process of turning a new concept into widespread use or commercial success.
c) The creation of a new idea, concept, or technology.
d) All of the above
e) None of the above
b) A process of turning a new concept into widespread use or commercial success.
In Design Thinking, there is a concept called “the art of unlearning” … In which stage of applying the methodology is it most relevant?
a) Understand and observe
b) Define
c) Ideate
d) Prototype and test
e) None of the above
a) Understand and observe
Which of the following sentences better describes the advantages of the use of Design Thinking for innovating in business:
a) Design Thinking allows for rapid product development and large-scale launches by focusing on technology and companies’ core capabilities.
b) Design Thinking is instrumental in ensuring that companies launch products that are aesthetically beautiful.
c) By putting human beings at the center of the process, Design Thinking allows companies to develop more new ideas that cater to fundamental human needs and wants more quickly.
d) Design Thinking defends that companies should develop their new products and services in total secrecy, with a small team of experts.
e) I believe none of these sentences describe Design Thinking correctly.
c) By putting human beings at the center of the process, Design Thinking allows companies to develop more new ideas that cater to fundamental human needs and wants more quickly.
From the following statements, choose the one that better describes the difference between a startup and an established business in the context of this course:
a) A startup is a small organization with few employees, while an established company tends to be larger.
b) An established organization produces and sells many products and services, while a startup usually only sells one thing.
c) An established organization has collected large sums of funding from different sources, while a startup is cash poor.
d) An established organization executes a known business model, while a startup is a temporary organization searching for a sustainable business model.
e) I believe none of these sentences describes the difference between a startup and an established organization correctly.
d) An established organization executes a known business model, while a startup is a temporary organization searching for a sustainable business model.
Talking about “disruptive innovation”, which is the sentence that best describes the process:
a) A new product and service that creates a new market, usually with very high margins and profits.
b) A new technology changing an organization from within, causing much unemployment.
c) A product or service taking root in simple applications for neglected segments of a market and then relentlessly growing, and eventually displacing established competitors.
d) The process of taking a business into the internet, making it a digital organization.
e) I believe none of these sentences describes disruptive innovation correctly.
c) A product or service taking root in simple applications for neglected segments of a market and then relentlessly growing, and eventually displacing established competitors.
Why do you think it is so difficult for successful companies to keep up with innovation? Choose the most complete statement:
a) Their market share and profitability gets too comfortable.
b) Management tools and incentives favor short-term revenues.
c) Internal processes are not aligned with the longer time cycles of innovation.
d) The risks of the required investment and uncertainty of the results are too high.
e) I believe all the above sentences are correct.
f) I believe none of the above sentences are correct.
e) I believe all the above sentences are correct.
Which sentence best describes the usefulness of an Innovation Thesis?
a) It is a framework to help make sound investment decisions for creating innovation inside the company.
b) It helps companies make detailed plans for developing innovative products.
c) It gives the company a direction to move forward in an integrated, coherent way, facilitating the implementation of an innovation strategy.
d) It is a framework to help make sound investment decisions when making acquisitions of new technological businesses.
e) I believe all the above sentences are correct.
f) I believe none of the above sentences are correct.
c) It gives the company a direction to move forward in an integrated, coherent way, facilitating the implementation of an innovation strategy.
Which are the three horizons of an investment portfolio?
a) Product, client, technology.
b) Core, adjacent, transformational.
c) Strategy, research & development, accelerator.
d) Processes, technologies, clients.
e) I believe all the above sentences are correct.
f) I believe none of the above sentences are correct.
b) Core, adjacent, transformational.
According to what you’ve learnt in this course, which are the three key elements in transforming what is just an “idea” into a potential “business idea”?
a) A profit model, a good product and customer engagement.
b) A partner network, organizational structure, and processes.
c) Target customer segment, a problem to be solved and a solution.
d) Processes, channels, branding.
e) I believe all the above sentences are correct.
f) I believe none of the above sentences are correct.
c) Target customer segment, a problem to be solved and a solution.
Which of the following sentences best defines what a business model is:
a) A business model is the combination of a target customer segment, a problem, and a solution.
b) A business model describes the rationale of how an organization creates, delivers, and captures value.
c) A business model is the combination of a business model canvas with the value proposition canvas.
d) A business model is a way for the company to create its products and services.
e) I believe all the above sentences are correct.
f) I believe none of the above sentences are correct.
b) A business model describes the rationale of how an organization creates, delivers, and captures value.
The Value Proposition Canvas has two components: the customer profile and the value map. Which are the three areas of the value map:
a) Products & services, pain relievers, gain creators.
b) Jobs to be done, gains, pains.
c) Products & services, pains, gains.
d) Jobs to be done, pain relievers, gain creators.
e) I believe all the above sentences are correct.
f) I believe none of the above sentences are correct.
a) Products & services, pain relievers, gain creators.
Which of the following sentences contains the complete four phases of “customer development” created by Steve Blank?
a) Customer search, customer interviewing, prototyping, and testing.
b) Customer discovery, customer validation, customer observation, customer empathy.
c) Customer discovery, customer validation, customer creation, company building.
d) Customer observation, customer discovery, customer creation, company building.
e) I believe all the above sentences are correct.
f) I believe none of the above sentences are correct.
c) Customer discovery, customer validation, customer creation, company building.
The business model canvas has nine sections. In the “Lean Startup” methodology, which are the two sections that present the highest risk and should be tested first?
a) key activities and key resources
b) Customer segments and value proposition
c) Cost structure and value proposition
d) Customer relationships and key partners
e) I believe all the above are correct.
f) I believe none of the above is correct.
b) Customer segments and value proposition
Which are the two key hypotheses of the Lean Startup methodology?
a) The value hypothesis and the client hypothesis.
b) The client hypothesis and the innovation hypothesis.
c) The value hypothesis and the growth hypothesis.
d) The client hypothesis and the growth hypothesis.
e) I believe all the above sentences are correct.
f) I believe none of the above sentences are correct.
c) The value hypothesis and the growth hypothesis.
