ENFB 4170 QUESTIONS WITH VERIFIED ANSWERS
Where do ideas come from? Top down - Answers - More incremental improvements
While there are some exceptions, usually companies founded based on the founders
knowledge of a product tend to produce incremental improvements over what else was
available in that marketplace
Where do ideas come from? Bottom up - Answers - More disruptive ideas
What is disruptive innovation - Answers - Innovation that creates a new market and
value network or enters at the bottom of an existing market and eventually displaces
established market-leading firms, products, and alliances. It's a product or service that
starts out way behind and then overtime eventually changes the way things are done
Where do Ideas come from? Triangle diagram - Answers - Knowledge
Core competencies & Experiences
Intuition/Experience
What is a competitive landscape? - Answers - the set of all of the companies that are
directly or indirectly in competition with one another along with their products, services,
missions, visions, values, niche market, strengths and weaknesses
How do you illustrate a competitive landscape? - Answers - List your differentiating
factors (what makes you different from competition)
If you have more than two differentiating factors you should create a _____ - Answers -
Table
If you have differentiation in 1 or 2 ways then you should create a _______ - Answers -
Matrix
What would a matrix usually look like - Answers - Top: High-quality stats
Left: Hard to use
Right: Easy to use
Bottom: Low-quality stats
What is an entrepreneurial hustle? - Answers - An entrepreneur's urgent, unorthodox
actions are intended to be useful in addressing immediate challenges and opportunities
under conditions of uncertainty
Why would you need an entrepreneurial hustle? - Answers - To help remove obstacles,
obtain key resources, and address significant shortcomings. It can also help motivate
entrepreneurs and help them find a way to keep going when things aren't going the best
Where do ideas come from? Top down - Answers - More incremental improvements
While there are some exceptions, usually companies founded based on the founders
knowledge of a product tend to produce incremental improvements over what else was
available in that marketplace
Where do ideas come from? Bottom up - Answers - More disruptive ideas
What is disruptive innovation - Answers - Innovation that creates a new market and
value network or enters at the bottom of an existing market and eventually displaces
established market-leading firms, products, and alliances. It's a product or service that
starts out way behind and then overtime eventually changes the way things are done
Where do Ideas come from? Triangle diagram - Answers - Knowledge
Core competencies & Experiences
Intuition/Experience
What is a competitive landscape? - Answers - the set of all of the companies that are
directly or indirectly in competition with one another along with their products, services,
missions, visions, values, niche market, strengths and weaknesses
How do you illustrate a competitive landscape? - Answers - List your differentiating
factors (what makes you different from competition)
If you have more than two differentiating factors you should create a _____ - Answers -
Table
If you have differentiation in 1 or 2 ways then you should create a _______ - Answers -
Matrix
What would a matrix usually look like - Answers - Top: High-quality stats
Left: Hard to use
Right: Easy to use
Bottom: Low-quality stats
What is an entrepreneurial hustle? - Answers - An entrepreneur's urgent, unorthodox
actions are intended to be useful in addressing immediate challenges and opportunities
under conditions of uncertainty
Why would you need an entrepreneurial hustle? - Answers - To help remove obstacles,
obtain key resources, and address significant shortcomings. It can also help motivate
entrepreneurs and help them find a way to keep going when things aren't going the best
