Tenta Flashcards
What does the concept of ‘interdependence risk’ in innovation ecosystems primarily refer to?
Choose only one alternative
- The risk of technological obsolescence.
- The challenges in internal project management
- The risk associated with market competition
- The financial risk involved in innovation.
- The uncertainty of coordinating with complementary innovators.
The uncertainty of coordinating with complementary innovators.
In an innovation ecosystem, what is the significance of assessing ‘integration risks’?
Välj ett alternativ:
Assessing the risks associated with integrating new team members into a project.
Calculating the financial risks in integrating new business units.
Identifying risks in merging different corporate cultures.
Understanding the challenges related to the adoption process across the value chain.
Making sure new technologies are compatible with existing systems.
Understanding the challenges related to the adoption process across the value chain.
In the context of innovation strategy in ecosystems, what is primarily emphasized?
Välj ett alternativ:
- Shaping and adapting to regulations and standards
- Focus on complex technological advancements
- Collaborative arrangements among multiple firms
- Competitive strategies among rival firms
Collaborative arrangements among multiple firms
What is the primary challenge for high-tech companies moving from early adopters to the early majority?
Välj ett alternativ:
- Shifting product focus from specialized technology to more user-friendly applications.
- Ensuring early adopters stay in as the product evolves.
- Rapidly scaling production to meet the demand of a larger market.
- Adjusting to the different jobs-to-be-done of early adopters and of the early majority users.
- Overcoming the early majority’s general resistance to technological innovations.
Adjusting to the different jobs-to-be-done of early adopters and of the early majority users.
What is a key mindset when working with MVPs in early stage startups?
Välj ett alternativ:
- Aiming for a feature-rich MVP to fully showcase the product’s potential.
- Aligning the MVP design with final product scalability.
- Ensuring the MVP tests interdependence and integration risks.
- Remaining flexibile and open to learning from user feedback.
Remaining flexibile and open to learning from user feedback.
In experimentation, what is a main task when managing innovation processes?
Välj ett alternativ:
- Recruiting top talent.
- Running a structured processes.
- Empowering employee creativity.
- Energizing the organization.
Running a structured processes.
Which cognitive bias or fallacy is most likely to cause an entrepreneur to stick with a poorly performing startup for too long due to previous commitments?
Välj ett alternativ:
- Planning fallacy.
- Sunk cost fallacy.
- Confirmation bias.
- Optimism bias.
- Availability heuristic.
Sunk cost fallacy.
Which of these scenarios exemplifies a pivot in the Go-To-Market Plan?
Välj ett alternativ:
- Changing the product’s target segment from individual consumers to businesses.
- Changing the product’s pricing to penetrate a lower-cost market segment.
- Changing the customer acquisition model from online marketing to a direct sales force.
- Changing the product positioning statement to better align with user needs
Changing the customer acquisition model from online marketing to a direct sales force
Why is it recommended that entrepreneurs refrain from conducting product demonstrations too soon during early-stage customer discovery interviews?
Välj ett alternativ:
- To prevent customer confusion or overload with intricate technical specifics.
- To ensure that potentially patentable secrets are not disclosed.
- To retain the ability to modify the product more freely based on unbiased feedback.
- To ensure customer feedback is not influenced by the product’s current form.
- To protect the confidentiality of the product’s innovative features and design.
To ensure customer feedback is not influenced by the product’s current form.
Why should entrepreneurs prioritize qualitative insights over quantitative data from
customer discovery interviews?
Välj ett alternativ:
- Since statistical user data are often misleading and wrong during early stages.
- As a matter of adhering to best practices and ethical considerations in market research.
- Owing to the extensive resources often required for the detailed analysis of statistical data.
- To ensure that product development is informed by real customer needs and experiences.
- Because obtaining qualitative insights is typically more straightforward and less resourceintensive than gathering statistical data.
To ensure that product development is informed by real customer needs and experiences.
Why is it often a good idea for startups to delighting early users and give them an ‘insanely great’ experience?
Välj ett alternativ:
- Because early users are typically more inclined to provide financial backing to the startup.
- Since it compensates for a buggy product and let’s you stand out against the competition.
- To gather in-depth user insights to guide continuous product improvement.
- Because early user satisfaction is key when attracting potential investors
Since it compensates for a buggy product and let’s you stand out against the competition.
In the jobs-to-be-done framework, how is the concept of ‘jobs’ characterized?
Välj ett alternativ:
- It refers to the professional occupation or career of the target market demographic.
- The general functionalities of a product or service.
- The specific activity that a customer aims to perform by using a product or service.
- A specific task or function that the product is explicitly designed to perform.
The specific activity that a customer aims to perform by using a product or service.
Example: Milkshake to cure boredom while traveling
What is the difference between pre-money valuation and post-money valuation in the
context of startup finance?
Välj ett alternativ:
- Pre-money valuation is the estimated revenue of a company in the next fiscal year, and post-money valuation is the projected net profit in the same period.
- Pre-money valuation is the market value of a company’s shares before an IPO, while postmoney valuation is the value after the IPO.
- Pre-money valuation is determined by the investors, and post-money valuation is
determined by the company’s founders. - Pre-money valuation refers to the value of a company before receiving investment, while post-money valuation includes the value of the company after the investment is added.
Pre-money valuation refers to the value of a company before receiving investment, while post-money valuation includes the value of the company after the investment is added.
How should one think of functional, emotional and social ‘jobs’ in the context of users
buying a product
Välj ett alternativ:
- By prioritizing functional factors while considering emotional and social factors as
secondary but influential in the decision-making process.
- By primarily focusing on emotional and social factors for consumer-oriented products, and on functional factors for business-to-business products.
- By always considering functional, emotional, and social factors as collectively important.
By always considering functional, emotional, and social factors as collectively important.
In effectuation theory, how is the entrepreneur’s view of the future and their ability to
influence it characterized?
Välj ett alternativ:
- Entrepreneurs are considered active agents who help shape the future through their decisions and initiatives.
- The future is seen as a sequence of predictable events that can be managed through careful analysis and planning.
- Entrepreneurs are gathering information to quickly adapt to the unfolding future.
Entrepreneurs are considered active agents who help shape the future through their
decisions and initiatives.
Which of the following lists three principles of effectuation reasoning?
Välj ett alternativ:
Risk Mitigation Principle, Market Analysis Principle, and Resource Management Principle
Profit Maximization Principle, Branding Principle, and Technology Adoption Principle
Affordable Loss Principle, Strategic Partnerships Principle, and Leveraging Contingencies Principle
Bird-in-Hand Principle, Competitive Advantage Principle, and Customer Focus Principle
Innovation Principle, Flexibility Principle, and Growth Orientation Principle
Affordable Loss Principle
Strategic Partnerships Principle
Leveraging Contingencies Principle
What best describes an ‘open ask’ in the context of effectuation”?
Välj ett alternativ:
- A pitch asking investors for suggested valuation.
- An initial conversation starter to establish relationship.
- A direct and honest request for a specific outcome.
- An invitation for collaborative dialogue and idea exploration.
An invitation for collaborative dialogue and idea exploration.
Why might it be unproductive for early-stage entrepreneurs to ask if people like their business idea?
Välj ett alternativ:
- Because it’s challenging for individuals to accurately assess your business idea without experiencing the product or service first-hand.
- Liking an idea doesn’t necessarily mean it will be commercially viable.
- Such questions often yield overly positive but non-genuine feedback.
- Non-experts may not provide insightful feedback on business concepts.
Such questions often yield overly positive but non-genuine feedback.
In experimentation, which type of question should entrepreneurs generally avoid asking when seeking feedback from potential users?
Välj ett alternativ:
- Questions focused on past behaviors and specific instances.
- Queries regarding the complementors and systems integrators.
- Inquiries into the technical aspects of the product.
- Questions that concerning future events and behaviors.
Questions that concerning future events and behaviors.
What is most important for technology-based startups to include in a two-minute pitch to investors?
Välj ett alternativ:
- Testimonials from early customers or users.
- Time for open questions and answers.
- A demonstration of the product or service.
- The unique insight or competitive advantage of the startup.
- The specific advantages of the technical solution.
The unique insight or competitive advantage of the startup.
In the context of experimentation, what is a common error founders make when defining what to include in their Minimum Viable Product?
Välj ett alternativ:
- Focusing too much on end users, thereby neglecting other ecosystem actors.
- Concentrating one too few features, thereby missing out on valuable insights.
- Attempting to address too many problems simultaneously, leading to a lack of focus.
- Ignoring established industry standards and benchmarks.
Attempting to address too many problems simultaneously, leading to a lack of focus.
What is a key characteristic of valuable business metrics/key process indicators?
Välj ett alternativ:
- Financial focus, concentrating exclusively on monetary aspects.
- Complexity, to encompass detailed facets of business performance.
- Stability, to enable comparisons over time.
- Comparability, to facilitate analysis against other datasets or timeperiods.
Comparability, to facilitate analysis against other datasets or timeperiods.
What is the difference between lagging and leading metrics?
Välj ett alternativ:
- Lagging metrics provide instant data, whereas leading metrics are typically delayed.
- Lagging metrics are quantitative, whereas leading metrics are qualitative.
- Lagging metrics reflect historical performance, whereas leading metrics predict future performance.
- Lagging metrics focus on existing customer, whereas leading metrics focus on potential customers.
Lagging metrics reflect historical performance, whereas leading metrics predict future
performance.
In the context of start-up firms and intellectual property, which of the following is most accurate?
Välj ett alternativ:
- Large technology companies primarily use their extensive patent portfolios to eliminate competition from start-ups.
- Start-ups with limited intellectual property experience should emulate the approaches used by larger firms in their own industry.
- Intellectual property laws are quite quick to adapt to new technological advancements.
- The main purpose of a start-ups’ initial patent application is often to secure venture capital funding.
The main purpose of a start-ups’ initial patent application is often to secure venture capital funding.
What is generally most accurate regarding intellectual property strategy for technology startups?
Välj ett alternativ:
- Technology startups benefit greatly from shaping their intellectual assets to fit their
competitive environment.
- Most firms can typically rely on social norms to protect their unique capabilities.
- Almost all technology startups need patents, trademarks, or registered designs.
- Technology startups almost always benefit more from patents than from trademarks, copyrights, and self-help.
Technology startups benefit greatly from shaping their intellectual assets to fit their
competitive environment.
What is the relationship between Equity Value and Enterprise Value?
Välj ett alternativ:
- Enterprise Value = Equity Value + total assets.
- Equity Value = Enterprise Value + preferred stock.
- Equity Value = Enterprise Value - net debt.
Equity Value = Enterprise Value - net debt.
