etrepexam.docx

1.-2. What examples of skills are said to be found in books and not genes? - **MARKETING, FINANCE, SALES, and DESIGN THINKING ** 3\. Who is this famous entrepreneur that said, \"Great things in business are never done by one person, they are done by team of people? - **STEVE JOBS** 4\. Entr...

1.-2. What examples of skills are said to be found in books and not genes? - **MARKETING, FINANCE, SALES, and DESIGN THINKING ** 3\. Who is this famous entrepreneur that said, \"Great things in business are never done by one person, they are done by team of people? - **STEVE JOBS** 4\. Entrepreneurs are not the smartest people in the room. What makes them successful are their focus and in their chosen subject. - **DEDICATION** 5\. Famous entrepreneurs such as Mark Zuckerberg, Bill Gates, and Richard Branson are known by their charisma. But they are also known for their vision, systematic thinking, and strong analytic skills. Most of all hambition. What does hambition mean? - **HUMILITY AND AMBITION ** 6\. Entrepreneurs don\'t love risks. They take. risks. - **CALCULATED** 7\. It is a very effective advertising or marketing method aside from the use of digital platforms. - **WORD OF MOUTH** 8\. It is a test that embodies the enterprise tendencies such as need for achievement, creative tendency and risk taking among others, expresses them in statement form and measures enterprise aptitudes against norms. - **GENERAL INTERPRISING TENDENCY TEST** 9\. What is the riskiest among the three approaches of identifying the right business for you? - **SOLVE A COMMON PROBLEM** 10\. As an entrepreneur, who is your first and possibly only investor? - **YOURSELF** 11.-15. In order, arrange the 5 Essential Elements that Lead to Success according to the study of Bill Gross presented in Ted Talk - **TIMING ** - **TEAM** - **IDEA** - **BUSINESS MODEL** - **FUNDING** 16.-17. In the article of Julia Austen, she mentioned 5 ways to validate a problem. Give 2 - **INTERVIEWS** - **ETHNOGRAPHY ** - **EMOTIONAL JOURNALIN or MAPPING** - **JOURNEY MAPPING ** - **FOCUS GROUPS** 18.-19. The best way to validate that a problem exists is to actually insert yourself into the process and learn by doing through testing. Give 2 types of these testing methods. - **LO-FIDELITY CONCIERGETESTING** - **WIZARD OF OZ** - **PROTOTYPES** - **COMPETITIVE ANALOGS** - **EXPERT TESTING** 20\. What company was cited as an example of a company that had the best timing? Because it came out right during the height of recession and became very successful? - **AIRBNB** 21\. What online entertainment company was considered to have the best timing and became successful in 2005? - **YOUTUBE** 22\. The problem must be means that the problem can either be widespread, concerning many customers or a niche problem for a small group of customers. In any case - the solution to this problem must have a significant impact on the customer\'s life and must provide significant benefits in comparison with existing solutions. - **RELEVANT** 23\. The problem must be \_\_\_\_\_\_\_\_\_ means that the problem must be realistic and possible. - **SOLVABLE** 24\. The problem must be \_\_\_\_\_\_\_\_\_\_\_\_ means that in any case, the profitability of the solution must be guaranteed. - **MARKETABLE** 25\. The Swedish company Edeva introduced a solution, which addresses these shortcomings: once the radar detects a speeding, an automated speed bump called Actibump creates a depression of about six centimetres depth, which is reminding fast drivers of the speed limit. Furthermore, the system is able to deactivate the automatic bumps for specific traffic like ambulances and buses. This method of identifying problems worth solving is by - **DETECTING DEFICIENT SOLUTIONS** 26\. The most promising approach is to identify the problems and challenges of a particular group of customers is by talking to them very early in the innovation process. This phase, called exploration or discovery, serves to better understand the customer\'s problem and to gain empathy for their situation. This method of identifying problems worth solving is by\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_. - **CONVERSATIONS** 27\. This approach creates an artificial problem and offers the perfect solution right away. Until a few years ago, people did not know that they needed to record daily heart rate, daily activities, burned calories and sleep. However, thanks to the efforts of health watch manufacturers, this need has been \'awakened\' in them, and health watches and fitness trackers are now sold in large quantities. Create problems worth solving - **INTENTIONALLY ** 28\. Many innovations arise when there is a problem in one\'s own life or in the life of others. Also the non-consumption offers good hints, where people or an organization are not able to purchase and use a product or service due to costs, non-existing channels, complexity etc. Stopgap solutions offer great opportunities to discover where existing products are used for purposes different from what they were made for. The current lack ofalternatives requires a good solution. And finally the things that people are reluctant to do offer great opportunities to develop a solution, these people are paying for. Identify problems worth solving by\_\_\_\_\_\_\_\_\_. - **OBSERVATION** 29\. Change can only occur when you make a conscious decision to make it happen. - **TRUE** 30\. The most important way to get information on your target audience is to ask them through surveys. - **FALSE** 31\. A business plan will help you gain clarity, focus, and income. - **FALSE** 32\. Being a generous leader is helpful in building a support network. - **TRUE** 33\. Selling by creating value means focusing on serving others. - **TRUE** 34\. Often, most entrepreneurs have a lot of choice. - **FALSE** 35\. The best way to develop a tolerance for ambiguity is to make planned mistakes. - **FALSE** 36\. Real innovation happens, where a problem is addressed with a different but much more expensive solution than before. - **FALSE** 37\. Companies today gain a real competitive advantage by recognizing the relevant problems of their customers first, and then delivering the same solutions with their competitors. - **FALSE** 38\. The starting point for efficient and sustainable innovation is always the identification of a problem worth solving at a higher level than the mere functional one. - **TRUE** 39\. Due to a survey, 43% of all startups fail, as they are offering solutions nobody is willing to pay for.  - **TRUE** 40\. According to Julia Austin, identifying a customer\'s pain points is the first step for entrepreneurs in marketing a new product. - **FALSE** 1\. It is a group-oriented role-playing technique. It\'s a method where team members act out roles different from their actual position frees them to share ideas more freely. This typically leads to rapid idea generation. - **ROLE-STORMING** 2\. Rather than speaking, it is a technique where individual team members write down their ideas before sharing them with the group. The intention is to engender the simultaneous written generation of ideas. - **BRAINWRITING** 3\. It is a valuable technique for breaking down a problem or idea into its constituent parts. It encourages you to find the relationships among individual tasks \-- and is especially well worth a look if you\'re visually inclined. - **MAP YOUR MIND** 4\. It is the opposite of brainstorming which is all about finding the answers to a question. Here, you work in reverse. The goal is to find the right questions. - **STARBURSTING** 5\. It is a promise you make to your customers post-purchase. It highlights the specific problem it solves, the advantages it provides, and why it is superior to its competitors. - **VALUE PROPOSITION** 6.-7. What are the 2 sides of the Value Proposition Canvas? - **VALUE MAP** - **CUSTOMER PROFILE** 8\. It refers to potential bad outcomes or risks for the customers related to getting a job done badly. - **CUSTOMER PAIN** 9\. It describes exactly how the products and services will produce outcomes and benefits that the customer expects, desires or is surprised by. - **CUSTOMER GAIN** 10\. It is achieved when the customer gets excited about the value proposition and meets their needs. It is the very core of value proposition design. - **FIT** 11.13. What are the three criteria that must be met for a compelling value proposition? - **ITS SPECIFIC ** - **ITS PAIN-FOCUSED** - **ITS EXCLUSIVE** 14\. Accordingly, what is the world\'s first compostable phone case that can help reduce one\'s carbon footprint whose value proposition is into sustainability? - **PELA CASE** 15\. It is a company that focuses on education rather than promising overnight effects. With a tagline, \"Rituals, not miracles\", what sets it apart from other brands is its commitment to consistency. - **DIEUX SKIN** 16\. It is a company that communicates their t-shirts in 3 propositional value which are less washing, more wearing, and simplifying your life. - **UNBOUND MERINO** 17\. Having a lot of this can build the confidence of investors in your company and scare them from investing in your competitors. - **CAPITAL** 18\. This strategy works very well when you are a first mover in the market. - **SPEED**.19. It refers to having great talents that is essential in creating and selling great products. - **TEAM**.20. This can be differentiated by price, form, and features among others. - **PRODUCT ** 21\. It refers to having positive relationship and reputation with your potential customers at the same time convincing the right stakeholders and investors. - **NETWORK** 22\. It refers to providing access to something that wasn\'t available to the customer before. - **CONTENT** 23\. It refers to having your location in conducive startup environment. - **ECOSYSTEM** 24\. It is recommended to focus on clarity before creativity. - **TRUE** 25\. If you need to use hype to sell your products, it\'s a sign that your value proposition is well defined. - **FALSE**