Exam 5: The Process

The Lean Startup school's learning loops involve a number of steps. Which?

Numerous researchers have found that a sound entrepreneur has and uses entrepreneurial judgement when faced with uncertain situations. This means:

The book speaks about how "it depends", when it comes to selecting one of the kinds of processes. We have described two archetypal approaches: 1)the testing, improvising and successively emerging model (≈ effectual) 2)the linear, analytical, systematic model (≈ causal) On which of the following occasions would the effectual approach (1) be the first choice:

Strategic analysis, market analysis, cost/revenue analyses, budgeting, financing analysis, organization, strategic planning and operational planning are all methods and tools which contribute to the rational decision-making process.

The book illustrates various types of processes. A typically linear process (A to B) contains:

What can my partners and I afford to lose? is a question one proposes in one of the five principles within the effectual school of thought. Which of the five?

Causal reasoning begins with a goal and attempts to find the cheapest, quickest, most effective means of reaching it. In other words, using available and new resources (means) is an exercise of optimization.

The Lean Startup school says that "the product is not the product!"

The term causation most closely corresponds to:

Enact and enactment are mentioned throughout the book to describe certain aspects in the entrepreneurial process (processes of change). These words imply people collaborate to stage reality and that this takes place through discussion and actions which create meaning.

When one traditionally discusses management control, one typically defines a sequence of activities. What is that sequence?

A business plan typically has the following components. Which four of the following are incorrect?

Effectuation:

The following are included in the financial analysis section of a business plan: (three are incorrect)

Sarasvathy argues that the entrepreneurial method cannot involve choices and decisions - that is instead the causal line of thinking. Instead, we have a design problem, with open questions which do not have a given answer, according to S. In other words:

The book explains that effectuation - as compared to causation - is more:

The term effectuation most closely corresponds to:

Effectual situations, according to Sarasvathy, are characterized by three kinds of uncertainty. Which are they?

"Proof of concept " is a core idea in the Lean Startup school of thought. This means that the opportunity or business model demonstrates its potential in some capacity.

Assign the following as examples of causal or effectual reasoning. -The future can be predicted on the basis of the past. Predictions are possible and useful.