Segway was not the success that most thought it might be.What was a contributing reason for Segway's failure?

1. A.The founding CEO was killed in an accident.
2. B.Some cities passed regulations limitingits use.
3. C.They were unable to raise sufficient funding to bring the product to market.
4. D.There were some technical problems with the product that they were unable to solve in time for product launch.
5. E.They could not get sufficient publicity for the product to allow enough people to learn about it.

2 points

QUESTION 20

1. Netflix was founded in 1997 and by 2011 had about 26 million worldwide subscribers who would have DVDs sent to them and then the subscribers would return the DVD to Netflix.In 2012 they suffered a serious drop in subscribers to the DVD based system, but by September 2013, they were serving over 40 million global subscribers with streaming video.Netflix was having to cope with very strong
2. A.legal forces
3. B.all of the above
4. C.economic forces
5. D.political forces
6. E.technological forces
7. F.regulatory forces

2 points

QUESTION 21

1. The most important part of the Business Plan is the
2. A.Financial Section.
3. B.The people on the initial team
4. C.The executive summary
5. D.The market analysis
6. E.The product description.

2 points

QUESTION 22

1. A company decides that they wish to sell their product through a wholesale marketing program to retail outlets.On the business model canvas, you would put this in which section?
2. A.Key partners
3. B.Key activities
4. C.Value Propositions
5. D.Channels
6. E.Customer Segments

2 points

QUESTION 23

1. A firm engaging in social entrepreneurship is always organized as a non-profit venture.
2. True
3. False

2 points

QUESTION 24

1. Privo Technologies plans to create a nano-drug delivery system for oral cancer.They plan to license this to pharmaceutical companies.Where would they put licensing on the Business Model Canvas?
2. A.Key Partners
3. B.Value Proposition.
4. C.Customer Relationships
5. D.Revenue streams
6. E.Key Resources

2 points

QUESTION 25

1. Which of these is NOT something that an investor or entrepreneur might be expected to say?
2. A.Build a better mousetrap and the world will beat a path to your door.
3. B.Ideas are a dime a dozen. People who implement them are priceless.
4. C.Get out of the office and talk to customers.
5. D.Control rather than predict.The future is created -not predicted.

2 points

QUESTION 26

1. The Lean Launchpad calls itself the evidence based approach to entrepreneurship and claims to use the scientific method.This is because it:
2. A.develops testable assumptions about what customers might value.
3. B.writes down assumptions underlying the business model.
4. C.requires that all assumptions can be proven wrong..
5. D.can be tested with an MVP.
6. E.all of the above.

2 points

QUESTION 27

1. Which of these is NOT one of Steve Blanks perspective on start ups.A startup is:
2. A.created to search, explore, and validate, an unmet need
3. B.in need of a good business plan to avoid failure.
4. C.trying to find a repeatable and scalable business model.
5. D.a temporary organization.

2 points

QUESTION 28

1. The Lean Launchpad's customer development process includes all of these except:
2. A.Modify your ideas based upon what you learn.
3. B.Ask questions of the customers and listen carefully to the responses
4. C.Get out of the office
5. D.Convince the customer that your product and idea is better than the competitors

2 points

QUESTION 29

1. The minimum viable product (MVP) is
2. A.an element of the Effectual Entrepreneurship approach
3. B.the product that you can take to the early adopters to test the market and potentially learn what adjustments might be made for the future.
4. C.a prototype that is shown to investors as part of the business plan presentation.
5. D.the model that you create in order to file for a patent to protect the intellectual property of the new venture.