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Wharton Coursera Entrepreneurship Quiz

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Module 1: Introduction to Entrepreneurship Quiz Quiz, 10 questions Question 1 1 point 1. Question 1 Assuming behaviors are caused by someone’s disposition, even when circumstances are the real explanation, is called: Fundamental attribution error Outcome bias Self-serving bias Ladder of inference Question 2 1 point 2. Question 2 Which of the following describes a serial entrepreneur? None of these are true Someone who focuses on starting multiple businesses at the same time Someone who focuses on starting multiple businesses, one after another Someone creating a job for themselves in a variety of idiosyncratic ways by establishing businesses Question 3 1 point Schlumberger‐Private 3. Question 3 The original iPhone was a(n) ____; the iPhone 6s was a(n) ____. Discontinuous innovation; radical innovation Discontinuous innovation; incremental innovation Radical innovation; discontinuous innovation Incremental innovation; discontinuous innovation Question 4 1 point 4. Question 4 What is an example of established firms cultivating innovation through internal development? All answers are true Separate R&D labs Dedicated time for individuals (e.g. 20% time) Sabbatical Question 5 1 point 5. Question 5 In 2014, high-tech small businesses (less than 250 employees) created __% of private sector jobs. 0-10% Schlumberger‐Private 30-40% 10-20% 20-30% Question 6 1 point 6. Question 6 In Entrepreneurship, “Unicorns” are: Mythical creatures Startups with a single employee Startups with a social mission Startups that have been funded on valuations of $1 billion or more 6. Question 6 Impact entrepreneurs can scale through which of the following methods? Increase geographic reach through franchises Influence policy changes Partner with someone who has last-mile reach at scale All answers are true Schlumberger‐Private Question 7 1 point 7. Question 7 Venture-backed start-ups are typically funded by ____; lifestyle businesses are typically funded by ____. Bank loans; private equity firms Angel investors and/or venture capitalists; the founders themselves, friends and family The founders themselves, friends and family; angel investors and/or venture capitalists Private equity firms; bank loans Question 8 1 point 8. Question 8 What is an effective strategy that would help overcome challenges associated with transitioning from the “ferment” to the “takeoff” period? Release a complementary product Reduce entry cost for complementers to join your network Develop a product that appeals to early adopters Compete in the largest market segment with the industry incumbent Question

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