UTD ENTP 3301 EXAM #1 QUESTIONS WITH
COMPLETE SOLUTIONS
3 importants for hiring Correct Answers - 1 filling functional
gaps/weaknesses (dont create useless/pointless/not needed
positions)
- build credibility w/ outside world of your own ability & risk
- compatible people w/ same vision
Boo Explosion Correct Answers Theory that when you as the
CEO (A level person), if you hire a B level person they are
going to start hiring B level employees and C level, and so on -
the quality of people you hire goes down. Idea that A level
people hire A level people.
business model Correct Answers story of how you are going to
make money: product, service, b2c, b2b, product & service
combo.
ceos tell what Correct Answers personal stories to sell their
products, are great aspirations.
Characteristics of Entrepreneurs Correct Answers Emotional
Commitment, Vision, Determination.
- Complimentary team emmbers
-healthy sense of paranoia
-ability to take risks
- finding a niche, wedging it open
- superior customer service
, continuous process improvement (cpi) Correct Answers always
looking to innovate and improve stuff that you are already
doing.
craftsmen Correct Answers highest value, low production, $$$$
- bugatti, steak houses, gucci
cross the chasm: Correct Answers entering the market at a great
time - categorized by innovators > early adopters > early
majority > late majority > laggards
- influentials matter less
-brand less important
-past experience and loyalty are transient
curve-jumping product qualities Correct Answers deep (offers
tons of products like google), intelligent, complete, empowering,
elegant
david vs. goliath Correct Answers southwest was late to the
airplane game, but they were able to become one of the biggest
without having to invent super new technology - instead focused
on a small thing to defeat the enemy: quick travel & customer
care.
david killed goliath with a rock
drug dealer model Correct Answers free taste for a bit and then
BAMMMMM you pay that $$$, aka netflix and amazon with
their trials
early adoptors Correct Answers visionaries
COMPLETE SOLUTIONS
3 importants for hiring Correct Answers - 1 filling functional
gaps/weaknesses (dont create useless/pointless/not needed
positions)
- build credibility w/ outside world of your own ability & risk
- compatible people w/ same vision
Boo Explosion Correct Answers Theory that when you as the
CEO (A level person), if you hire a B level person they are
going to start hiring B level employees and C level, and so on -
the quality of people you hire goes down. Idea that A level
people hire A level people.
business model Correct Answers story of how you are going to
make money: product, service, b2c, b2b, product & service
combo.
ceos tell what Correct Answers personal stories to sell their
products, are great aspirations.
Characteristics of Entrepreneurs Correct Answers Emotional
Commitment, Vision, Determination.
- Complimentary team emmbers
-healthy sense of paranoia
-ability to take risks
- finding a niche, wedging it open
- superior customer service
, continuous process improvement (cpi) Correct Answers always
looking to innovate and improve stuff that you are already
doing.
craftsmen Correct Answers highest value, low production, $$$$
- bugatti, steak houses, gucci
cross the chasm: Correct Answers entering the market at a great
time - categorized by innovators > early adopters > early
majority > late majority > laggards
- influentials matter less
-brand less important
-past experience and loyalty are transient
curve-jumping product qualities Correct Answers deep (offers
tons of products like google), intelligent, complete, empowering,
elegant
david vs. goliath Correct Answers southwest was late to the
airplane game, but they were able to become one of the biggest
without having to invent super new technology - instead focused
on a small thing to defeat the enemy: quick travel & customer
care.
david killed goliath with a rock
drug dealer model Correct Answers free taste for a bit and then
BAMMMMM you pay that $$$, aka netflix and amazon with
their trials
early adoptors Correct Answers visionaries
