Final Exam Fund

Part1
Key words:
Vision An informed and forward-looking statement of purpose that

defines the long-term destiny of a company
Business plan A document presenting the company's strategy and expected

financial performance for the years to come
SAM (served What's the percentage of total available market targeted and
available market) served by a company's product and services?
Chasm The most difficult stage of the technology life cycle for a
product to move through
Laggards These customers are bound by tradition and price and are
consequently the hardest to convert into customers
Late majority These customers are skeptical of change
Innovators These customers are eager to be the first to try out an

innovative item
Burning need What is a segment of the market that absolutely needs your
product, where customers thank you for coming to them with
your product and act as partners
Positioning The act of designing the product offering and image to occupy
a distinctive place in the target customer's mind
PDM ( product A classic model of business development from concept/seed

development round through Product Development, then the Alpha Beta
Test, and then launch First Customer Shipment Date
model)
Part2
1. ____ Is part of customer development model

a. Product testing
b. Company building
c. Product launch
d. None of the above
2. As for people the business plan does not focus on ……….

a. Whom they know
b. How well thev are known
c. Their grades in degree programs
d. What do they know
3. The golden circle concept (sinek theory) consists of…….

a. Consistency of what
b. Discioline of how
c. Clarity of why
d. All the above mentioned
4. The size of the startup's market is………

a. Number and growth rate of those customers for that product
b. Number and growth rate of competition
c. Number and growth rate of substitute products
d. Number and growth rate of venture capitalists and economy
5. A business model canvas has ............... Building blocks

a. Nine
b. Seven
c. Eight
d. Ten
6. Means the pursuit of opportunity beyond resources controlled.

a. Strategy
b. Entrepreneurship
c. Mission
d. Vision
7. 'Key partners' is an important aspect of:

a. Vision
b. Strategy
c. Business model canvas
d. Testing
8. The three framework that make a product compelling include all the framework exept:
a. In the market large and growing?
b. Do you have team in the technology and business ?
c. Is your product 10 times better than the competitor?
d. Having a big office
9. The product development model does not include…….

a. Launch/ ship 1st date
b. Product develop
c. Concept/ seed round
d. Customer discovery
10. Which of the following risks in not a risk to be considered when trying to find if an ideas is good
or not?
a. Team risk
b. Capital risk
c. Competitive risk
d. Product risk
11. Bureaucratic mindset includes……

a. Product
b. Capital
c. Market
d. People
12. ………..means a plan or road map of the actions that a firm will take to achieve its vision,
Mission, and goals
a. Strategy
b. Entrepreneurship
c. Mission
d. Vision
13. Very few companies know why they do what they do. Why is not about ...........that is a result
a. Making money
b. Making product
c. Making a team
d. Making a structure
14. The business model does not include the following ...
a. Cost
b. Empathy
c. Distribution
d. Product
15. The concept of "build it and they will come" is true for
a. Software products
b. Consumer products
c. For life and death products
d. None of the above
16. …….is number and growth rate of those costumer for a particular product
a. Entrepreneurship
b. Bureaucratic mindset
c. Market share
d. Market
17. The acronym STP stands for segmentation, targeting and…….

a. Pointing
b. Population
c. Positioning
d. Product
18. .............. Must be more than a sales support function. It is not just ad tag line
a. Positioning
b. Sinek theory
c. Marketing
d. Five why's concepts
19. . The elements of establishing a compelling vision include all except

a. Clear
b. Concise
c. Consistency
d. Purposeful
20. ................. Is a brief, persuasive speech that you use to spark interest in what your company
does.
a. The Elevator Pitch
b. The golden circle
c. The burning need
d. Entrepreneurial screen
Part 3: true or false questions
1) The quality of a start up's product can be defined as -how many (or rather tour fen) bugs does it
have? TRUE
2) Bureaucratic mindset goes after opportunity recognition. FALSE, ENTERPRENEURS
3) Capital, resources and risk define the entrepreneurial mind set. FALSE, BUEACRAT MIND
4) The business model canvas is a lean start up approach for developing new business models.
TRUE
5) The product development model focuses on "first shipment date" instead of focusing on testing
the business model. TRUE
6) The customer development model (cdm) has four key steps. TRUE, discovery, validation,
creation, company building
7) Companies that change the future do more than satisfy customers, they constantly amaze them.
TRUE
8) Many startups are likely to die upon the first contact with customers. TRUE
9) Flexibility, speed, and the ability to find out product-market fit are critical. TRUE
10) This course focuses on engineering fundamentals. FALSE

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Part1

Vision An informed and forward-looking statement of purpose that

Business plan A document presenting the company's strategy and expected

Late majority These customers are skeptical of change

Innovators These customers are eager to be the first to try out an

PDM ( product A classic model of business development from concept/seed

1. ____ Is part of customer development model

2. As for people the business plan does not focus on ……….

3. The golden circle concept (sinek theory) consists of…….

4. The size of the startup's market is………

5. A business model canvas has ............... Building blocks

6. Means the pursuit of opportunity beyond resources controlled.

7. 'Key partners' is an important aspect of:

9. The product development model does not include…….

11. Bureaucratic mindset includes……

17. The acronym STP stands for segmentation, targeting and…….

19. . The elements of establishing a compelling vision include all except

2) Bureaucratic mindset goes after opportunity recognition. FALSE, ENTERPRENEURS

10) This course focuses on engineering fundamentals. FALSE

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