Quiz TD - Entrepreneurship & Innovation - 1er semestre - M1 PDF

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Quiz TD - Entrepreneurship & Innovation - 1er semestre - M1...

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 Légende : Noir → réponse sûre avec la correction Violet → réponse sûre d’après moi Vert → pas sûre de la réponse 1.

The lean start-up approach does include which one of the following ideas  It evaluates the startup’s entire business model  It balances the founders’ vision with input that comes from market feedback  It provides a rigorous framework for experimentation  All of the above

2.

Which of the following is NOT part of the lean startup philosophy  Rapid iteration  Small batches  Cross-functional teams  Short cycle times

3.

Who is the dropbox customer  Individuals  Advanced users  Small and medium business  All of the above

4.

The market Dropbox was confronted with was big and fast growing  Yes  No

5.

It makes sense to create an MVP with constrained functionality when  Some segments of early adopters would never use certain features that are costly to develop  There is no doubt about the ultimate demand for the product  It is uncertain if the market exists at all  Only power users desire the full feature set

6. Dropbox is a late mover in space, what will Houston set the service apart from established rivals  Integration with existing services  Synchronization with other devices  Integration of backup/share/sync o, a single easy-to-use and reliable service  Generation of an easy-to-use and reliable service 7.

Entrepreneurship is a process that involves  The ability to win over the customer  Innovation, creativity and application in the marketplace  Innovation creativity and profitability  Innovation creativity and competitive analysis

8.

Self-employment typically  Faces destructive competition  Has huge growth potential  Implies a completion based on a differentiation strategy  Interests the age cohort between 25 and 35 years old

9.

The primary purpose of a minimum viable product is to :  Determine how much it may cost to produce the product  Test falsifiable hypothesis  Determine the minimum feature set that can be built into the product  Attract early adopters

10. Which of the following would be a good hypothesis to test with an MVP  Customers will like our product features  We can manufacture the product in China at a good price  We can expect to get customer leads through viral marketing  We expect 1.5 % of customers will become repeat buyers

11. What is the relationship between the business plan and the business model  The business model will not be possible without a business plan  A business plan is more of an exercise while a business model is a formal structure  Business plan is another term of business model  A business model is a journey to gather evidence while a business plan is a formal document

12. It is typically easier for new businesses to change their business model because new businesses…  Have not yet formulated a business plan  Tend to be smaller and more agile  Have the capital to fund such changes  Have no competitors 13. Which of the following is necessary for an effective customer value proposition (CVP)  It must cost less than the competition  It must offer better value than competition  It must offer the exact same value as the competition  It must not have any direct competition 14. According to Christina's experience, buying flowers which problem she wants to address with Farmgirl Flowers ?  Customer lack of time  OR Customer lack of skills  Customers lack of money  Customers lack of networks 15. Why did Christina decide to found farm girl flowers  Because of her family influence  Because of her personal background  Because she loves flowers  Because she wanted to do something different in the industry / to start a company 16. What is the key competitive advantage of Farmgirl flower  Specialization  Waste reduction  Marketing strategy  All above 17. Why did Houston decide to target individuals rather than companies for a Dropbox go to market strategy  Because once individuals embrace the product and prove it to be secure the company will be forced to accommodate the product  Because companies do not want to invest on technology if it’s provided by a startup  Because it has a free version  Because it targets all skill level users given Dropbox’s easy to use and reliable approach 18. Why did Houston find Dropbox to be ?  Because he and his co founder were thinking about launching a new business  Because none of the companies that were on the market were able to backup, sharing and sync flies at the same time  Because he got some money from private investors 19. Andrew owns a popular but expensive Chinese restaurant. In order to introduce more people to his brand, he offers a series of one-time « taste fairs » in which he brings his recipes to a locally sponsored event. Customers are able to pay modest amounts for small servings of his creation while not paying for the ambiance of the famous restaurant. What problem is Andrew addressing ?    

Customers lack of networks Customers lack of money Customer lack of skills Customer lack of time

20. In the business model canvas (BMC), what components are included in financial viability ?  Cost structure and revenue stream  Revenue streams and market size  Investment funds and revenue streams  Revenue streams and growth projections

21. Which approach did Houston used to launch Dropbox  Lean startup approach  Launch early and often approach  Continuous trials approach  Viral approach 22. A business opportunity can be defined as  A favorable set of circumstances that created a need for a new product, service or business  An externally stimulated condition that creates a need for a new product or service  A product of mental activity  An internally stimulated condition that creates a need for a new product or service

23. The schumpeterian opportunity exploitation typically concerns :  Launching a truly innovative product into market  Creating a new business model  Targeting an existing product to new sets of customers  All of the above 24. What is the main Go-To-Market strategy adopted by Dropbox  Partnerships with established organizations  Search engine marketing  Viral marketing and word of mouth  Social media 25. Which of these statement is wrong  Dropbox benefited from the 1st mover advantage  Dropbox used beta testing extensively  Dropbox was funded by Y combinator  Dropbox was not the first startup launched by Drew houston 26. What was the main tool used by Houston to test demand for Dropbox  A serie of online survey  A screencast of a product demo  Face to face interviews with potential customers  Focus groups 27. How does Farmgirl Flowers market its product ?  Segmented marketing and on-demand deliver  Organic marketing and satisfied customers  Marketing advertisement and planning  Through its users (word-to-mouth type of advertising) 28. What is farmgirl Flowers Customer Proposition strategy ?  Vertical Integration  Mixed strategies  Low cost and decreasing prices  Differentiation and increasing customers’ willingness to pay 29. How did Dropbox attract customers ?  Targeting only business customers and heavily investing their budget in marketing  Applying a high price to customers to use their service  Relying on a complex interface and many advanced features that required high IT skills  None of the above 30. How did Huston test his hypothesis ?  He used qualitative proposition  He launched his ideas without analyzing if there were customers for his service  Using the lean startup (L5) principles  He only invested on search engine marketing (SEM) and Business Development (BD) Deals 31. How did Drew Huston develop the idea of Dropbox ?  He found a solution to his problem of storing and accessing his data on different  He copied an idea from his colleagues  He wanted to compete in the data storage market  He relied extensively on market research 32. How is Farmgirl Flowers different from its competitors ?  Lower prices  Fewer product choices  Greater number of product choices  Lower product quality 33. Which risk (cause) of startup failure the lean startup method aims to minimize ?  Launching a product/service that nobody wants  Founding teams problems  Lack of liquidity  Being beaten by competitors in the market 34. In the “just-do-it” approach to launch a new venture  It is anchored to a strong vision.  It’s typically used by founders with an engineering/technical background  Each task is performed by a different organizational unit  Customer feedback arrives early in the process 35. What makes Farmgirl Flowers different from its competitor ?

   

Lower price of flowers Reduced delivery time Limited amount of choice What you see when ordering is exactly what you get

36. Select the WRONG answer. Farmgirl Flowers financial performance is characterized by :  Low inventory costs  Low marketing costs  High growth  High profits 37. Which of the following is NOT a good example of an A/B test ?  500 visitors to a website see a price of $110 for product X and 500 customers see a price of $120 for the same product  700 visitors to a website are offered a package of 4 units for $10 and 300 visitors are offered a package of 7 units for $15  500 visitors to a website see a video testimonial from a satisfied customer and 500 visitors see a text version of the same comments.  One thousand visitors to a website for product X are asked to choose whether they would prefer a 10% discount or free shipping. 38. The consumer value proposition is:  A service that helps consumers to get a truly innovative product  A product or service that helps customers to compare different value offerings  A product or service that helps customers do more effectively, conveniently, and affordably a job they’ve been trying to do  A product or service that helps customers do more effectively a job they’ve been trying to do 39. In which area of the business model, Drew Houston, Dropbox’s founder, made major changes after testing his hypotheses (i.e. pivot)?  Technology & operations management  Go-to-market strategy  Profit formula  All-of-the above 40. Which of the following sentences is NOT correct about Dropbox’s customer value proposition?  It offers an integrated solution (sync. Sharing. & back-up).  It targets corporations  It’s an easy-to-use and reliable solution  Dropbox is more expensive than the competition 41. One of Dropbox’s early decision was to ?=  Buy it data transfer technology from google  Design internally both the software and hardware  Sell to Carbonite one of its branches  Outsource its data center operation to Amazon...