ENT 101 Final
Fundamental Attribution Error
the tendency people have to overemphasize personal characteristics and ignore situational factors in
judging others' behaviors
traditional entrepreneurship model
Ideate, discuss with friends and family, develop the product, perfect the product, sell the product
5 phases of the NISI process
1) nail the pain, 2) nail the solution, 3) nail the marketing strategy, 4) nail the business model, 5) scale it
Who said "don't let school get in the way of your education"?
Mark Twain
Who said "I never want to build something that nobody wants to buy"?
Thomas Edison
, Who said "No success can compensate for failure in the home"?
David O. Mckay or J.E. McCulloch
Who said "If I had asked customers what they wanted, they would have said faster horses"?
Henry Ford
What are the keys to sustainable advantage?
Putting heart into it, understanding the innovation process, and validating with potential users.
What are the benefits of having less money with a startup?
can help you focus on the external market, or your customers, and increase your ability to develop
creative solutions for those cusomers.
invention
A new product, system, or process that has never existed before, created by study and experimentation.
innovation
An improvement of an existing technological product, system, or method of doing something.
What are the 2 fundamental risks when innovating?
Fundamental Attribution Error
the tendency people have to overemphasize personal characteristics and ignore situational factors in
judging others' behaviors
traditional entrepreneurship model
Ideate, discuss with friends and family, develop the product, perfect the product, sell the product
5 phases of the NISI process
1) nail the pain, 2) nail the solution, 3) nail the marketing strategy, 4) nail the business model, 5) scale it
Who said "don't let school get in the way of your education"?
Mark Twain
Who said "I never want to build something that nobody wants to buy"?
Thomas Edison
, Who said "No success can compensate for failure in the home"?
David O. Mckay or J.E. McCulloch
Who said "If I had asked customers what they wanted, they would have said faster horses"?
Henry Ford
What are the keys to sustainable advantage?
Putting heart into it, understanding the innovation process, and validating with potential users.
What are the benefits of having less money with a startup?
can help you focus on the external market, or your customers, and increase your ability to develop
creative solutions for those cusomers.
invention
A new product, system, or process that has never existed before, created by study and experimentation.
innovation
An improvement of an existing technological product, system, or method of doing something.
What are the 2 fundamental risks when innovating?
