Question 1

Design thinking methods allow for experimentation.

Accepted Answer

A) True 
 B)False  True

Question 2

The Unique value proposition (UVP) is considered to be the most difficult building block of the lean canvas, why?

Accepted Answer

A)   Because the entrepreneur should determine what makes her or his product or service stand out to herself or himself
B)   Because the entrepreneur should determine what makes her or his product or service stand out to customers
C)   Because the entrepreneur should determine what makes her or his product or service stand out to employees
D)   Because the entrepreneur should determine what makes her or his product or service stand out to competitors B

Question 3

What are the nine basic building blocks of the original business model canvas?

Accepted Answer

A)   Production segment; value proposition; channels; customer relations; revenue streams; key resources; key activities; key partnerships; cost structure
B)   Customer segment; value proposition; channels; production relations; revenue streams; key resources; key activities; key partnerships; cost structure
C)   Customer segment; value proposition; channels; customer relations; revenue streams; key resources; key activities; key partnerships; cost structure
D)   Customer segment; value proposition; channels; customer relations; production relations; revenue streams; key resources; key partnerships; cost structure C

Question 4

The design thinking process (the Design Thinking Framework utilized in this chapter) guides an entrepreneur or innovator through a process of which five stages?

Accepted Answer

A)   R&D - Define - Ideation - Prototyping - Testing
B)   Empathize - Define - Ideation - Prototyping - Testing
C)   Empathize - Define - Ideation - Testing - Selling
D)   Empathize - Define - Ideation - Prototyping - Selling

Question 5

A business mode is a "recipe" for what?

Accepted Answer

The answer of A business mode is a "recipe" for...

Question 6

Churn rate, in the context of the lean start-up approach, is the turnover rate of customers over a specified period.

Accepted Answer

A) True 
 B)False

Question 7

The abbreviation MVP, in the context of the lean start-up model, stands for?

Accepted Answer

A)   Most valuable player
B)   Maximum viable product
C)   Minimum viable product
D)   Minimum viable process

Question 8

Validated learning means that start-ups exist to learn how to build a sustainable business.

Accepted Answer

A) True 
 B)False

Question 9

Focus on how to measure progress is one aspect of innovation accounting.

Accepted Answer

A) True 
 B)False

Question 10

Describe value capture.

Accepted Answer

The answer of Describe value capture....

Question 11

What is not an aspect of innovation accounting?

Accepted Answer

A)   Focus on how to measure progress
B)   Focus on how to set up milestones
C)   Focus on how to prioritize work
D)   Focus on how to sell innovation knowledge

Question 12

What are the three critical components that business models typically have?

Accepted Answer

The answer of What are the three critical components that...

Question 13

What is a business model?

Accepted Answer

A)   A "recipe" for how a venture becomes sustainable economically
B)   A "recipe" for how to end a venture premature
C)   A "recipe" for informing stakeholders about a venture
D)   A "recipe" for the daily activities of the employees of a venture

Question 14

What is the aim of the lean start-up approach?

Accepted Answer

A)   To build companies and launch products slower
B)   To build companies and launch products quicker
C)   To build companies slower and launch products quicker
D)   To build companies quicker and launch products slower

Question 15

The customer segment box is said to drive the rest of the lean canvas

Accepted Answer

A) True 
 B)False

Question 16

Mention the nine basic building blocks of the lean canvas.

Accepted Answer

The answer of Mention the nine basic building blocks of...

Question 17

List the five stages of the Design Thinking Framework utilized in this chapter.

Accepted Answer

The answer of List the five stages of the Design...

Question 18

What is design thinking according to Brown (2008, p. 92)?

Accepted Answer

The answer of What is design thinking according to Brown...

Question 19

What are the five key principles of the lean start-up model?

Accepted Answer

The answer of What are the five key principles of...

Question 20

What are the nine basic building blocks of the lean canvas?

Accepted Answer

A)   Customer segment; problem; solution; unique value proposition; revenue streams; channels; key metrics; cost structure and unfair disadvantage
B)   Customer segment; problem; solution; unique value proposition; revenue streams; channels; key metrics; cost structure and unfair advantage
C)   Customer segment; problem; solution; shared value proposition; revenue streams; channels; key metrics; cost structure and unfair advantage
D)   Customer segment; problem; solution; unique value proposition; revenue streams; channels; quality; cost structure and unfair advantage

Exam 4: Designing and Modelling a Social Venture

Design thinking methods allow for experimentation.

The Unique value proposition (UVP) is considered to be the most difficult building block of the lean canvas, why?

What are the nine basic building blocks of the original business model canvas?

The design thinking process (the Design Thinking Framework utilized in this chapter) guides an entrepreneur or innovator through a process of which five stages?

A business mode is a "recipe" for what?

Churn rate, in the context of the lean start-up approach, is the turnover rate of customers over a specified period.

The abbreviation MVP, in the context of the lean start-up model, stands for?

Validated learning means that start-ups exist to learn how to build a sustainable business.

Focus on how to measure progress is one aspect of innovation accounting.

Describe value capture.

What is not an aspect of innovation accounting?

What are the three critical components that business models typically have?

What is a business model?

What is the aim of the lean start-up approach?

The customer segment box is said to drive the rest of the lean canvas

Mention the nine basic building blocks of the lean canvas.

List the five stages of the Design Thinking Framework utilized in this chapter.

What is design thinking according to Brown (2008, p. 92)?

What are the five key principles of the lean start-up model?

What are the nine basic building blocks of the lean canvas?