Entrepreneurship Theory Process Practice

Business

Quiz 6 :

Assessment of Entrepreneurial Opportunities

Quiz 6 :

Assessment of Entrepreneurial Opportunities

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The learn stage of the build-measure-learn feedback loop is a process in which one learns by trying out an initial idea and then measuring it to validate the effect.
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True False
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False

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A new venture goes through five specific phases.
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True False
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False

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Many entrepreneurs do not understand the marketing life cycle of a new product.
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True False
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True

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Timing has little to do with a new venture's success or failure.
True False
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Obtaining external financing is one of the major types of problems for a new venture during its first year.
True False
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Most entrepreneurs hire lawyers to brief them on the legal issues surrounding a new venture.
True False
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Lack of transparency and trust by the entrepreneur is a common cause of new-venture failure.
True False
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An entrepreneur's decision to ignore the market is safe if he or she is sure that the idea will be a success.
True False
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With a nonroutine venture, the initial innovation will maintain the company's competitive advantage without new technology.
True False
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Design is now a hot topic in the business world.
True False
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The Lean Start-Up methodology is hypothesis-driven.
True False
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The build-measure-learn feedback loop begins with identifying which hypotheses to test and ends with requiring the entrepreneur to take a look at the results and determine whether a pivot is required.
True False
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In design-centered entrepreneurship, the entrepreneur applies design methods in six action stages of developing an opportunity.
True False
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The growth pattern of sales is critical for an entrepreneur to make correct forecasts.
True False
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Pricing becomes less of a concern when customers know about a product's unique characteristics that are superior to the competition.
True False
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Investors are willing to invest even if they do not immediately see the potential for growth and profit.
True False
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Mistakes and failures along the way are to be seen as poor planning and actually hinder the design methodology.
True False
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The maverick entrepreneur who avoids reaching out and finding help is a myth of the past.
True False
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The entrepreneurial motivations of individuals relate to the entrepreneur, the environment, and the venture.
True False
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The comprehensive feasibility analysis approach is closely related to the preparation of a thorough business plan.
True False
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