RSM Research and Innovation 3

Question 1

In a business model innovation context, which element describes how a firm delivers value to customers?

Accepted Answer

Value delivery mechanism

Answer

The value delivery mechanism (or channel) describes the means by which a firm communicates and delivers its value proposition to its customer segments.

Question 2

Which statistical technique is most appropriate for reducing a large set of correlated variables into fewer uncorrelated components?

Accepted Answer

Principal component analysis

Answer

Principal component analysis (PCA) transforms correlated variables into a smaller set of uncorrelated principal components.

Question 3

What is the primary purpose of a 'minimum viable product' (MVP) in lean startup methodology?

Accepted Answer

To test critical assumptions with the least effort and resources

Answer

An MVP allows entrepreneurs to validate key hypotheses about customer needs and product-market fit with minimal investment.

Question 4

In qualitative research, 'saturation' occurs when:

Accepted Answer

New data no longer yields new themes or categories

Answer

Theoretical saturation means additional data collection no longer contributes new insights, signaling sufficient sample depth.

Question 5

Which framework, developed at RSM, maps firms' competitive positioning using 'Blue Ocean Strategy' principles?

Accepted Answer

The Strategy Canvas

Answer

The Strategy Canvas, a core Blue Ocean Strategy tool, plots competitive factors and value curves to identify uncontested market space.

(RSM) Rotterdam School of Management Practice Test

(RSM) Rotterdam School of Management Practice Test

RSM Research and Innovation 3