Exam 6: Prototyping and Validating a Solution

The initial margins for a new line of cosmetics that Kim has developed are slim due to development costs. She is wondering whether they will improve with economies of scale. Which of the following product development trade-offs is Kim dealing with?

(Multiple Choice)

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Question 21

In entrepreneurial parlance, MVP stands for most valuable player.

(True/False)

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Question 22

Research has revealed that the principal reason for new product failure is lack of

(Multiple Choice)

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Question 23

Poor execution, time-to-market increases, and missed first-to-market opportunities are some of the problems associated with

(Multiple Choice)

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Question 24

Entrepreneurs have a dilemma of how to perform research and development (R&D) that will result in a high-quality, engineered _____ as quickly and as inexpensively as possible with limited resources.

(Multiple Choice)

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Question 25

What are product development trade-offs? List some of the trade-offs an entrepreneur will face when doing product development.

(Essay)

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Question 26

Poor execution in product development often results from

(Multiple Choice)

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Question 27

Because entrepreneurs always approach product development in the same systematic way that large companies do, they are affected by the need to address the weakest link in their new product strategy to avoid failure.

(True/False)

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Question 28

Which of the following areas of product development would be suitable for outsourcing?

(Multiple Choice)

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Question 29

All of the following are results of resource scarcity EXCEPT

(Multiple Choice)

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Question 30

Each time a new product or service or an improvement to an existing product or service is introduced, it will have gone through a complex design and development process.

(True/False)

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Question 31

Which of the following entrepreneurs would NOT design a physical prototype?

(Multiple Choice)

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Question 32

All of the tasks in the product development cycle will take place; however, they often occur in parallel or out of order.

(True/False)

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Question 33

Which of the following does customer identification or discovery ask?

(Multiple Choice)

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Question 34

In the context of product development, which of the following would be good advice?

(Multiple Choice)

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Question 35

Which of the following goes hand in hand with the first stages of design?

(Multiple Choice)

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Question 36

Poor execution in product development results in missed opportunities to enter the market at a quiet time without immediate competition.

(True/False)

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Question 37

Briefly discuss the impact of technology on the product life cycle.

(Essay)

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Question 38

The failure rate for new consumer products is somewhere between 10 and 30 percent.

(True/False)

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Question 39

During the final phase of the product development cycle, an entrepreneur must decide whether to

(Multiple Choice)

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Question 40

Showing 21 - 40 of 50

The initial margins for a new line of cosmetics that Kim has developed are slim due to development costs. She is wondering whether they will improve with economies of scale. Which of the following product development trade-offs is Kim dealing with?

In entrepreneurial parlance, MVP stands for most valuable player.

Research has revealed that the principal reason for new product failure is lack of

Poor execution, time-to-market increases, and missed first-to-market opportunities are some of the problems associated with

Entrepreneurs have a dilemma of how to perform research and development (R&D) that will result in a high-quality, engineered _____ as quickly and as inexpensively as possible with limited resources.

What are product development trade-offs? List some of the trade-offs an entrepreneur will face when doing product development.

Poor execution in product development often results from

Because entrepreneurs always approach product development in the same systematic way that large companies do, they are affected by the need to address the weakest link in their new product strategy to avoid failure.

Which of the following areas of product development would be suitable for outsourcing?

All of the following are results of resource scarcity EXCEPT

Each time a new product or service or an improvement to an existing product or service is introduced, it will have gone through a complex design and development process.

Which of the following entrepreneurs would NOT design a physical prototype?

All of the tasks in the product development cycle will take place; however, they often occur in parallel or out of order.

Which of the following does customer identification or discovery ask?

In the context of product development, which of the following would be good advice?

Which of the following goes hand in hand with the first stages of design?

Poor execution in product development results in missed opportunities to enter the market at a quiet time without immediate competition.

Briefly discuss the impact of technology on the product life cycle.

The failure rate for new consumer products is somewhere between 10 and 30 percent.

During the final phase of the product development cycle, an entrepreneur must decide whether to

Understanding Entrepreneurship

Preparing for the Entrepreneurial Journey

Creating Opportunity

Analyzing the Industry and Market

Developing and Testing a Business Model

Protecting the Startups Assets

Building the Founding Team

Calculating Startup Capital Requirements

Preparing a Business Plan

Designing an Entrepreneurial Organization

Planning Startup Operations

Choosing the Legal Form of Organization

Developing a Startup Marketing Plan

Incorporating Ethics and Social Responsibility Into the Business

Funding Startup and Growth

Planning for Growth and Change

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