Entrepreneurship 2: Launching your Start-Up Quiz Answers

All Weeks Entrepreneurship 2: Launching your Start-Up Quiz Answers

Entrepreneurship 2: Launching your Start-Up Week 1 Quiz Answers

Quiz 1: Module 1 Quiz: Products, Pitches and Pivots

Q1. Which of the following describes the Lean Approach?

• Helps entrepreneurs minimize cash burn while learning about their market
• All of these options are true
• The lean approach is a method for dealing with the inherent uncertainty in entrepreneurship
• Entails running tests on your minimal viable product, pivoting, and achieving product market fit

Q2. Which of these would not be an approach to a Minimal Viable Product?

• Business Model Canvas
• Smoke Tests
• Prototypes
• Surveys

Q3. Which group is the most important to interview?

• Members of the press
• Potential beachhead customers
• Follow-on customers
• People you have access to

Q4. Which of the following can you not learn from customer interviews?

• What frustrates people about a problem
• How people solve a problem today
• What alternatives people considered when trying to decide how to solve a problem
• The price you should charge

Q5. A good hypothesis is:

• Complex and Multi-stepped
• Falsifiable and Testable
• True and Accurate
• Easy and Fast

Q6. Which of the following is an example of a strong “high concept pitch”?

• The “AirBNB” of “LinkedIn”
• The “Zocdoc” for teachers who shop at Whole Foods
• The “Uber” for dogs
• The “Facebook” for professionals

Q7. Which is NOT a category of risk you should consider before taking the leap to start a venture?

• Known Unknowns
• Known Knowns
• Unknown Knowns
• Unknown Unknowns

Q8. ____ pay more attention to the style of your pitch, _____ pay more attention to substance.

• Venture Capitalists / Private Equity Companies
• Angel Investors / Venture Capitalists
• Private Equity Companies / Angel Investors
• Venture Capitalists / Angel Investors

Q9. Making your product seem visionary can help with:

• Showing your product is easy to make
• All of the options are true
• Decreasing competition
• Making your product seem plausible

Q10. Which of the following is a potential method to limit the chances of needing to pivot?

• Work to develop a potential product or solution prior to conducting in depth research and analysis
• Commit significant time and resources to studying all possible solutions, even if not viable, before selecting a solution to focus on
• Pivoting is inevitable in entrepreneurship, there is nothing you can do to limit the chances of it occurring.
• Consider several possible alternatives from the outset and conduct research to determine the solution to focus on

Entrepreneurship 2: Launching your Start-Up Week 2 Quiz Answers

Quiz 1: Module 2 Quiz: Building the Founding Team

Q1. What percent of venture-backed firms fail because of problems within the senior management team?

• 65%
• 55%
• 35%
• 45%

Q2. What are the three Rs of founding teams in Noam Wasserman’s model?

• Relationships, Rules, and Rewards
• Relationships, Roles, and Resources
• Relationships, Rules, and Resources
• Relationships, Roles, and Rewards

Q3. What percent of high growth startups have co-founders?

• 74%
• 84%
• 64%
• 54%

Q4. Prechelt (2000) found that programmers in the top 25 percentile (by performance) can perform ___ higher than those in the bottom 25 percentile.

• 27x
• 6x
• 4x
• 2x

Q5. Research within the video game industry showed that ___ percent of variation between the performance of games can be attributed to middle managers at the video game developer.

• 21%
• 31%
• 7%
• 22%

Q6. True or False? When forming a team, you should always choose people who are different from you to maximize performance.

• False
• True

Q7. What is Peter Thiel’s Law?

• Create a minimum viable product and iterate your way to success
• A startup messed up at its foundation cannot be fixed
• Would-be entrepreneurs are told that nothing can be known in advance
• All of these are true

Q8. What is a method to address known unknowns in a founder’s agreement?

• Building trust
• Contingent provisions
• Standard provisions
• Unequal equality

Q9. Why is the market value of sweat less than the market value of cash?

• Cash is “king”
• People typically do not quit their jobs to work on startups full-time
• All of these are true
• Cash investments are made with after-tax funds

Q10. Allocating equity among founders should be based on the relative value of the assets the founders contribute, including:

• All of these
• Sweat
• Cash
• The original idea

Entrepreneurship 2: Launching your Start-Up Week 3 Quiz Answers

Quiz 1: Module 3 Quiz: Creating Networks

Q1. Which of the following is NOT a key characteristic of high-performing networks?

• Brokerage
• Diversity
• Interdependence
• Trust

Q2. For an entrepreneurial team, members that are ___ internally and ___ externally tend to be the most high-performing.

• “B” type (broker), “B” type (broker)
• “A” (cohesive) type, “A” type (cohesive)
• “A” type (cohesive), “B” type (broker)
• “B” type (broker), “A” type (cohesive)

Q3. Mentors ___, whereas advisors ___.

• Have financial upsides / Have no financial upside
• Want to help you informally / Provide services in exchange for payment
• Are more focused on your company / Are more focused on you as a person
• Do not have voting rights / Have voting rights

Q4. When building your advisory board, you should ___.

• Invite everyone you’ve worked with before
• Use high prestige experts
• Never have more than seventeen members
• Always include at least one high level executive from a big company

Q5. You may want to hire an accountant earlier if ___.

• You don’t feel comfortable working with financials
• You have complicated tax issues
• You are concerned about structure
• All of these are true

Q6. The three criteria for patentability are ___.

• Creativity, non-obviousness, and utility
• Non-obviousness, novelty, and utility
• Utility, novelty, and creativity
• Novelty, creativity, and non-obviousness

Q7. Which of the following illustrates why Intellectual property is important?

• IP protects against backward engineering and accidental disclosure
• None of these are true
• IP gives similar rights akin to “real” property and excludes others from using
• IP has suppressed bad innovation

Q8. All of the below are forms of intellectual property EXCEPT ___.

• Claims
• Copyrights
• Patents
• Trade secrets

Q9. Which of the following determines whether you have more or less access to resources?

• Nature of relationship between the contacts
• All of these are true
• Set of network contacts that you have
• Overall pattern of relationships

Q10. When hiring lawyers, you should ___.

• Hire the lawyer only when you get sued
• Hire based on which lawyer has the best coffee machine
• Find a lawyer that has worked with entrepreneurs before and knows the context
• Only hire the lawyer for company formation

Entrepreneurship 2: Launching your Start-Up Week 4 Quiz Answers

Quiz 1: Module 4 Quiz: Branding and the Entrepreneurial System

Q1. What is a key tradeoff to selecting a company name that immediately communicates the benefit proposition to consumers?

• This type of name does not offer much flexibility to adapt to technological and other changes in the future
• Such a name might lack ambiguity that will keep a customer interested
• No single name can concisely convey a company’s benefit proposition to customers

Q2. What are the three key norms of authenticity?

• Philosophical, social, and symbolic
• All of these
• Spiritual, physical, and cultural
• Functional, emotional, and symbolic

Q3. Which of the following is not an element of personality (as relevant to the United States)?

• Competent
• Rugged
• Exciting
• Sincere
• Passion
• Sophisticated

Q4. What can help you overcome bias in entrepreneurship?

• Apply for accelerators and launch programs
• All of the options are correct
• Scour your own networks
• Work with common interest groups

Q5. Which of these is not a cause of bias that has been observed in studies of entrepreneurship?

• Network Access
• Discrimination
• Disintermediation
• Homophily

Q6. Which of the following is NOT a difference between an incubator and an accelerator?

• The cash investment from the accelerator into the business is minimal
• Time in the accelerator space is typically limit to 3-4 months
• Accelerators typically have a demo day with potential investors, while incubators may not
• Accelerators are typically less selective than incubators

Q7. Which is not a potential advantage for startups who work with an accelerator:

• Founders no longer need to seek funding
• Founders are more mobile afterward
• They are more likely to fail or succeed quickly
• They are faster to get funding

Q8. Based on empirical research, which strategy was used more frequently by unicorns valued at over $1 billion?

• Value chain strategy
• Disruptive strategy
• Blue ocean strategy

Q9. Which of the following is a friction associated with cooperation?

• Startup disclosure dilemma – negotiating terms of exchange and disclosing any information may undermine a startup’s value
• All of these are frictions associated with cooperation
• Transaction costs – frictions in identifying partners and in contracting
• One party is not interested due to factors such as different perceptions or an unclear value proposition

Q10. Which of the following statements about disruptive innovation is NOT true?

• Customers are initially able to state a preference for disruptive technologies that improve on only one attribute
• Disruptive technology initially performs worse compared to the existing technology
• The trajectory of improvement of disruptive technology is much steeper than existing technology
• All of these statements about disruptive innovation are true

Get All Course Quiz Answers of Entrepreneurship Specialization

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Entrepreneurship 2: Launching your Start-Up Quiz Answers

Entrepreneurship 3: Growth Strategies Coursera Quiz Answers

Entrepreneurship 4: Financing and Profitability Quiz Answers