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FME Midterm Review, YASSSS! Flashcards | StudBud

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FME Midterm Review, YASSSS!

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Let's see how ready we are for this midterm! :)

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Questions 12

Answers

1
What is the IDEO design thinking process?
Research, Ideation Implementation
Inspiration, Formation, Implementation
Inspiration, Ideation, Formation
Inspiration, Ideation Implementation
2
Is this a high or low fidelity prototype? (Winter Hammocks @ the fair)
High
Low
3
What is ET&A?
Entrepreneurial Tasks and Acts
Entrepreneurship, Thought and Ability
Entrepreneurial Thought and Action
Entrepreneurs' Thinking and Acting
4
What is the full meaning of KPI?
Key Practical Indicators
Key Performance Index
Key Performance Information
Key Performance Indicators
5
Are technological changes a type of marketplace trend?
Yes
No
6
Which of these is not a component of the opportunity analysis framework?
Viability
Desirability
Feasibility
Reliability
7
Who teaches Entrepreneurship?
Professor Opie
Professor Balachandra
8
How many phases does the Stanford Design School thinking process have?
5
5
4
3
9
Which of these is not a reason to stop acting on an opportunity?
Not sure if I have enough resources
You exceed your affordable loss
You don’t want it
You prove to yourself it cannot be done
10
What is the difference between idea and opportunity?
When you share your idea it becomes an opportunity
When you take action on your idea, it becomes an opportunity
An idea is smaller than an opportunity
They are the same
11
Should you focus on communicating benefits instead of features when talking about value?
No
Yes
12
Which of these are the 4 key revenue drivers?
Customer, Frequency, Selling process, price
Customer, Availability, Selling process, price
Customer, Frequency, Selling process, benefit
Customer, Frequency, Selling process, feature