Understanding Entrepreneurship 2019-2020

Quiz – 28 October, 2019

1. What are the nine elements of the business model canvas in the order suggested by Osterwalder
& Pigneur?
2. What are the five principles of effectuation?
3. What are the principles of design thinking?
4. What are the five elements of the design thinking process?
5.----------------------- protects your original material and stops others from using your work without
permission.
6. Minimum Viable Product is a version of a new product which allows a team to collect the ----------
------------------ (1) amount of -------------------------- (2) about ------------------- (1), with the least ------------------ (1).
7. What is the biggest risk in start-up?
8. What are the three things in an entrepreneur’s control that can be the focal point of a pivot?
9. What are the three things in the customer’s control?
10. What is “jobs-to-be-done” in the value proposition canvas?
11. What are the five phases of channels?
12. What are the three key motivations for building customer relationships?
13. What are the two types of revenue streams?
14. What are the two main types of pricing mechanism?
15. IP rights are ------------------ (1) rights and are typically valid for ---------- years.
16. What are the two types of cost structures?
17. Give names of two biases. Explain each bias in a sentence.
18. Write a specific hypothesis for the following: “I believe students will attend Diwali celebrations.”
19. List three uses of the business model canvas.
20. Give two patterns of business model canvases.
Answers
1. Check slides for Session 5.
2. Check slides for Session 2.
3. Check slides for Session 3.
4. Check slides for Session 3.
5. Check slides for Session 4.
6. Check slides for Session 4.
7. Check slides for Session 4.
8. Check slides for Session 4.
9. Check slides for Session 4.
10. Check slides for Sessions 3 & 4.
11. Check slides for Session 6.
12. Check slides for Session 6.
13. Check slides for Session 8.
14. Check slides for Session 8.
15. Check slides for Session 4.
16. Check slides for Session 8.
17. Check slides for Session 3.
18. Check slides for Session 6.
19. Check slides for Session 7.
20. Check slides for Sessions 9 & 10.