11/6/2025

Multiple Choice

What is Rapid Experimentation also known as?

• Rapid Prototyping

• Slow Testing

• Costly Experimentation

• Business Analysis

Multiple Choice

A product that is produced as a model or example in early development is called a

• phenotype

• genotype

• prototype

• novotype

Multiple Choice

The earliest and most cost effective prototype is known as a _______________.

• maximum viable product

• minimum viable product

• phase 1 product

• 1st offering

Multiple Choice

What are the benefits of using rapid experimentation?

• Save time and money

• Reduce risk of big mistakes

• Get fast feedback from customer

• All of the above

Multiple Choice

What are the three main steps in the Rapid Experiment Process?

• Build, Measure, Learn

• Plan, Execute, Review

• Design, Test, Analyze

• Create, Implement, Evaluate

Multiple Choice

What is a prototype?

• A final product ready for market

• A rough model to test ideas

• A detailed plan for production

• A marketing strategy

Multiple Choice

In which step of the product development process is a working model of the product created to test its viability?

• Idea Generation

• Market Research

• Prototype Development

• Product Launch

Multiple Choice

What are the three types of prototypes mentioned?

• Paper Prototypes

• Digital Prototypes

• Physical Prototypes

• Virtual Prototypes

Open Ended

How can sketching help get your idea across?

Open Ended

How could you prototype with paper?

Open Ended

How might you build a wireframe?

Open Ended

What steps would your storyboard feature?

Open Ended

What would it look like to role play your idea?

Multiple Choice

What activity are Nikki and Josh performing when they read over a scenario and then act out the parts in a training class?

• Experimenting

• Brainstorming

• Meditation

• Role-playing

Multiple Choice

What are the three types of assumptions mentioned in the slide?

• Crucial Assumptions

• Least-Proven Assumptions

• Leap of Faith Assumptions

• All of the above

Multiple Choice

Joe Blake is the president and primary stockholder of Blake Enterprises. He keeps his personal income and his business income in the same checking account. Which assumption is he violating?

• business entity

• going concern

• monetary unit

• time period

Multiple Choice

The accounting assumption that a business is expected to survive and operate indefinitely is called a:

• A

  business entity

• capital concern

• charter entitiy

• going concern

Multiple Choice

Which accounting assumption assumes that an enterprise will continue in operation long enough to carry out its existing objectives and commitments?

• Monetary unit assumption

• Economic entity assumption

• Time period assumption

• Going concern assumption

Multiple Choice

Which of the following is critical for ensuring the credibility of the business case assumptions?

• Using historical data from previous projects

• Relying on industry benchmarks

• Consulting with subject matter experts

• Including overly optimistic projections

Multiple Choice

What are the categories of assumptions that entrepreneurs should consider?

• Customer Needs and Preferences

• Pricing and Willingness to Pay

• Sales Channels and Distribution

• Competition

Multiple Choice

What role do assumptions play in entrepreneurship?

• They are irrelevant

• They are always correct

• They are a natural part of entrepreneurship

• They should never be tested

Multiple Choice

What is the structure of a hypothesis?

• If we do Y, then we expect X.

• If we do X, then we expect Y.

• If we do Z, then we expect W.

• If we do A, then we expect B.

Multiple Choice

What are the unique features and assumptions of Airbnb?

• People will trust strangers to stay in their homes.

• Travelers will choose unique homes over hotels.

• Hosts will list their homes for short-term rentals.

• The platform can ensure safety for hosts and guests.

Multiple Choice

What makes Airbnb unique?

• It allows people to rent out their homes to strangers.

• Travelers can stay in unique, local spaces instead of hotels.

• Hosts can earn money by listing their homes.

• It is a hotel booking platform.

Multiple Choice

Business Model refers to the plan of the company to earn profits.

• False

• True

Multiple Choice

What does the term "business model" refer to?

• A company's plan for making a profit

• A company's plan for hiring employees

• A company's plan for marketing strategies

• A company's plan for customer service

Multiple Choice

Why is evaluating experiments important?

• To learn what works

• To identify mistakes early

• To ensure customer satisfaction

• To optimize resources

Open Ended

What should we do next?

Open Ended

Did we meet our experiment's goal?

Open Ended

What did we learn from the results?

Multiple Choice

What is the purpose of A/B Testing?

• To assess user reactions

• To compare two versions

• To test user-friendliness

• To manually deliver a product

Multiple Choice

What type of test did QuickShift perform before investing in full automation?

• Concierge Test

• Wizard of Oz Test

• A/B Testing

• Usability Testing

Multiple Choice

What are the goals of the QuickShift app as mentioned in the image?

• Achieve 80% usage of the app among employees for scheduling shifts.

• Maintain a 90% customer satisfaction rating with the app experience.

• Identify the most common reasons for shift changes and user pain points.

• Increase the number of employees using the app to 100%.

Multiple Choice

What type of test did FreshFare perform to validate their business model?

• Concierge Test

• Wizard of Oz Test

• A/B Testing

• Usability Testing

Multiple Choice

What were the goals set for FreshFare in the first month?

• Achieve 50 paying customers

• Maintain an 85% customer satisfaction rate

• Identify the most popular meal options

• All of the above

Multiple Choice

What was the impact of Starbucks' Mobile Order & Pay feature on customer wait times?

• Increased wait times

• Decreased wait times by 30%

• No change in wait times

• Wait times doubled

Open Ended

How can failures be reframed as learning opportunities rather than setbacks?

Open Ended

How do leaders and innovators use failure as a tool for progress?

Open Ended

Why is failure essential for learning and growth?

Multiple Choice

What are the different types of failure that can be defined?

• Intelligent

• Preventable

• Complex

• All of the above

Multiple Choice

Any business should always be open to failure and also to negative feedback. They should use that to develop and make the product better.

• True

• False

Multiple Choice

What are the key differences between what failure is and what failure is not?

• A result that doesn’t meet expectations.

• A permanent state.

• An opportunity to learn.

• Proof that you are not capable.

Multiple Choice

What are the three key lessons that failure teaches us according to the slide?

• Resilience, Innovation, Character

• Success, Wealth, Fame

• Happiness, Patience, Strength

• Knowledge, Skills, Experience

Multiple Choice

What are the three types of failure mentioned in the image?

• Preventable Failure

• Complex Failure

• Intelligent Failure

• Unforeseen Failure

Multiple Choice

What are the characteristics of intelligent failure?

• Happens in pursuit of new knowledge

• Occurs in a controlled, low-risk environment

• Provides insights that lead to improvement

• Is shared and discussed without blame

Multiple Choice

A business strategy in which an organization continuously evaluates its business processes to make them more effective and efficient

• continuous improvement

• corporate culture

• customer experience management

• customer loyalty

Multiple Choice

In the context of Quality Assurance, what does the term 'Continuous Improvement' refer to?

• A one-time initiative to enhance product quality

• The ongoing effort to improve products, services, or processes over time

• Keeping the quality of products at a consistent level without changes

• Reducing the scope of quality checks to speed up production

Poll

How confident do you feel about this topic now?

• Very confident
• Somewhat confident
• Not confident