CBS Innovation & Entrepreneurship 3

Question 1

In the context of corporate entrepreneurship, 'intrapreneurship' refers to:

Accepted Answer

Entrepreneurial behavior within an established organization

Answer

Intrapreneurship encourages employees to act like entrepreneurs inside a corporation, driving innovation without starting a new entity.

Question 2

A company develops a product innovation that customers did not explicitly request but immediately adopt enthusiastically. This illustrates:

Accepted Answer

Technology-push innovation

Answer

Technology-push innovation is driven by new capabilities or R&D breakthroughs rather than expressed customer demand.

Question 3

Which of the following best describes a 'unicorn' in startup terminology?

Accepted Answer

A private startup valued at $1 billion or more

Answer

A unicorn is a privately held startup company valued at over $1 billion, a term coined by venture capitalist Aileen Lee in 2013.

Question 4

The 'Jobs-to-be-Done' (JTBD) framework primarily helps entrepreneurs:

Accepted Answer

Understand the functional and emotional progress customers seek

Answer

JTBD reframes customer needs around the 'job' they are trying to accomplish, enabling more targeted product innovation.

Question 5

Which entrepreneurial finance concept describes funding a startup exclusively through personal savings and revenue without external investment?

Accepted Answer

Bootstrapping

Answer

Bootstrapping means building and growing a business using only personal resources and reinvested revenues, avoiding outside equity or debt.

(CBS) Certified Business Strategist Practice Test