FC from G.NLM Flashcards
(182 cards)
1
Q
What is the core argument Eric Ries makes about established companies today?
A
They are struggling as never before. [1] (Chapter 1: Respect the Past, Invent the Future)
2
Q
What does Eric Ries propose as necessary for continuous transformation at scale in established companies?
A
Entrepreneurial management. [1] (Chapter 1: Respect the Past, Invent the Future)
3
Q
What principle did GE’s leadership invite Eric Ries to discuss applying in 2012?
A
That the principles of entrepreneurial management could be applied in any industry, size of company, or sector of the economy. [2] (Chapter 1: Respect the Past, Invent the Future)
4
Q
What was the goal of applying entrepreneurial principles at GE according to Immelt and Comstock?
A
To set the company on a path for growth and adaptability, and for Immelt to leave a legacy that would allow the company to flourish long term. [2] (Chapter 1: Respect the Past, Invent the Future)
5
Q
What is the primary focus of “The Startup Way” book?
A
The process of taking entrepreneurship from “missing” to “thriving” in any company or organization. [3] (Chapter 1: Respect the Past, Invent the Future)
6
Q
What is one key leadership challenge in adopting entrepreneurial management?
A
Giving teams the freedom to create experiments while still holding them to strong accountability standards. [4] (Chapter 2: Entrepreneurship: The Missing Function)
7
Q
According to Scott Cook, what is the perspective change for leaders adopting entrepreneurial management?
A
The difference between “playing Caesar” (deciding which projects live or die) and “playing the scientist” (being perpetually open to search and discovery). [4] (Chapter 1: Respect the Past, Invent the Future)
8
Q
What happens to unloved, high-risk, uncertain projects in traditional systems?
A
Politicking and maneuvering waste energy, leading to a need for a separate, more rational approach for attracting entrepreneurial personnel. [5] (Chapter 2: Entrepreneurship: The Missing Function)
9
Q
Why do we need new incentive and advancement systems in established companies?
A
It takes skill to distinguish between incompetence and circumventing rules for good reason, and to avoid ‘fauxtrepreneurs.’ [5] (Chapter 2: Entrepreneurship: The Missing Function)
10
Q
What is a key lesson from many successful entrepreneurs regarding failure?
A
Many successful entrepreneurs in history had one or more failed startups under their belts before finding success. [5] (Chapter 2: Entrepreneurship: The Missing Function)
11
Q
According to the text, what core convictions form the foundation of Silicon Valley startups?
A
A series of deeply held convictions that allow a unique blend of risk-taking and rapid growth. [6] (Chapter 3: A Startup State of Mind)
12
Q
What is Amazon’s “working backward” method?
A
Starting with an internal press release detailing the problem, current solutions, and how the new solution is better, audience is the customer. [7] (Chapter 3: A Startup State of Mind)
13
Q
What does the example of Mark Zuckerberg’s early inarticulate pitch demonstrate in a startup setting?
A
Having good early results is important; one strong leading indicator can often be enough to gain an investor’s trust. [8] (Chapter 3: A Startup State of Mind)
14
Q
How does a startup environment differ from a corporate setting regarding readiness to proceed?
A
Unlike in a corporate setting where everything has to be right, a startup doesn’t have to have everything figured out to proceed. [8] (Chapter 3: A Startup State of Mind)
15
Q
What drives a startup fundamentally?
A
Mission and vision. [9] (Chapter 3: A Startup State of Mind)
16
Q
What is a common, but misguided, criticism of Lean Startup?
A
That it seeks to replace or de-emphasize vision. [9] (Chapter 3: A Startup State of Mind)
17
Q
How does formalizing practices into a rational system with common vocabulary help?
A
It allows more people to use that system than the old apprenticeship method. [10] (Chapter 3: A Startup State of Mind)
18
Q
According to Lean Startup, what is the unit of progress for startups?
A
Validated learning. [11] (Chapter 4: Lessons from the Lean Startup)
19
Q
Describe the core cycle of iteration in Lean Startup.
A
The build-measure-learn feedback loop. [11] (Chapter 4: Lessons from the Lean Startup)
20
Q
What critical decision is made on a regular schedule (cadence) in Lean Startup?
A
Whether to make a change in strategy (pivot) or stay the course (persevere). [11] (Chapter 4: Lessons from the Lean Startup)
21
Q
What is the goal of Lean Startup regarding vision?
A
To find the fastest possible path to realizing the vision. [11] (Chapter 4: Lessons from the Lean Startup)
22
Q
How does Lean Startup break down a plan in situations of extreme uncertainty?
A
By employing the scientific method to systematically break down the plan through rapid experimentation. [11, 12] (Chapter 4: Lessons from the Lean Startup, Chapter 5: A Management System for Innovation at Scale)
23
Q
What does Lean Startup require making explicit in situations of extreme uncertainty?
A
Leap-of-faith assumptions (LOFAs). [13, 14] (Chapter 4: Lessons from the Lean Startup)
24
Q
What do Leap-of-Faith Assumptions (LOFAs) embody in a traditional business plan context?
A
The company’s current guess at how its strategy will lead to the realization of its vision. [13] (Chapter 4: Lessons from the Lean Startup)
25
According to Pedro Miguel, what are three simple questions to ask when validating ideas with people?
1. Do people really have the problem you think they do? 2. How do they approach the problem today? 3. Is your concept a better alternative for them? [14, 15] (Chapter 4: Lessons from the Lean Startup)
26
Which Leap-of-Faith Assumptions should teams prioritize initially?
The riskiest parts of the plan. [14] (Chapter 4: Lessons from the Lean Startup)
27
Why should teams avoid analysis paralysis when identifying LOFAs?
It's better to focus on fewer rather than more assumptions initially. [14] (Chapter 4: Lessons from the Lean Startup)
28
What were the value and growth hypotheses for the Department of Education's College Scorecard project?
Value: Create a tool providing metrics for students to understand school value and make informed choices. Growth: Share data through an API for wider access. [16] (Chapter 4: Lessons from the Lean Startup)
29
Why are Lean Startup experiments called Minimum Viable Products (MVPs)?
Because they are real-life products that create maximum opportunity to be surprised by customer behavior, which can upend the LOFA framework. [17] (Chapter 4: Lessons from the Lean Startup)
30
What is the key benefit of building an MVP?
It quickly turns an idea into something real in order to begin the process of iterating and retesting, aiming for the most successful product possible with the least waste. [18] (Chapter 4: Lessons from the Lean Startup)
31
How did the College Scorecard team use cardboard mockups as an MVP?
To experiment with the product immediately, change it quickly, and test again by observing customer interactions. [18] (Chapter 4: Lessons from the Lean Startup)
32
According to Intuit, what is the goal of rapid experiments?
To learn as fast as possible from real customers, based on real behaviors, before investing additional resources. [19] (Chapter 4: Lessons from the Lean Startup)
33
What is a core pillar of Intuit's Design for Delight program regarding MVPs?
"Go Broad to Go Narrow" - brainstorm multiple MVPs and consider radically different alternatives. [20] (Chapter 4: Lessons from the Lean Startup)
34
What does validated learning provide that differs from perceived needs?
Understanding what people actually want, not what we think they want. [21] (Chapter 4: Lessons from the Lean Startup)
35
What is the "exchange of value" in validated learning?
Anything scarce a potential customer is willing to give up for access, such as money, time, energy, reputation, or detailed feedback. [22] (Chapter 4: Lessons from the Lean Startup)
36
For metrics to support a valid inference in validated learning, what three qualities (the three A's) must they have?
Actionable, Accessible, and Auditable. [23] (Chapter 4: Lessons from the Lean Startup)
37
What makes a metric "actionable"?
The data must demonstrate clear cause and effect, be related to changes in the product, and explain *why* results occurred. [23] (Chapter 4: Lessons from the Lean Startup)
38
Why is the "auditable" quality important for metrics?
The data has to be credible so that decisions based on metrics (like killing a project) are clear and sound when challenged. [24] (Chapter 4: Lessons from the Lean Startup)
39
What is the PRFAQ exercise used by Twilio and Amazon?
An exercise where a team writes a press release and FAQ document for the customer to test an idea through contact with customers before building. [25, 26] (Chapter 4: Lessons from the Lean Startup)
40
What is the "one rule" for Twilio teams regarding customer feedback?
Get customer feedback as early as possible and then experiment and iterate by coming up with a hypothesis and testing it. [27] (Chapter 4: Lessons from the Lean Startup)
41
What is the purpose of the pivot-or-persevere meeting?
To evaluate whether the current strategy is working based on learning from experiments. [28] (Chapter 4: Lessons from the Lean Startup)
42
In Lean Startup, what does it mean to "pivot"?
A change in strategy without a change in vision. [28] (Chapter 4: Lessons from the Lean Startup)
43
In the pivot-or-persevere meeting, what decision is made if experiments show continued learning and support for key assumptions?
Persevere, refine the MVP, and continue the build-measure-learn cycle. [28] (Chapter 4: Lessons from the Lean Startup)
44
In the pivot-or-persevere meeting, what decision is made if experiments show negative feedback or indifference, invalidating a key assumption?
It's time to pivot (change strategy). [28] (Chapter 4: Lessons from the Lean Startup)
45
What key lesson does the scientific method teach about failure?
If you can’t fail, you can’t learn. [29, 30] (Chapter 5: A Management System for Innovation at Scale)
46
Why is experimentation important for every employee, not just senior leaders?
Problems too small to reach senior levels require embedded ability to experiment and pivot for solutions. [31] (Chapter 5: A Management System for Innovation at Scale)
47
What is Phase One in the road map for transformation according to the Contents?
Critical Mass. [32, 33] (Chapter 6: Phase One: Critical Mass)
48
What is Phase Two in the road map for transformation according to the Contents?
Scaling Up. [32, 33] (Chapter 7: Phase Two: Scaling Up)
49
What is Phase Three in the road map for transformation according to the Contents?
Deep Systems. [32, 33] (Chapter 8: Phase Three: Deep Systems)
50
What is a recommended starting point for transformation in Phase One (Critical Mass)?
Start with a limited number of projects and build from there to create cases, stories, and results. [34] (Chapter 6: Phase One: Critical Mass)
51
What type of teams should undertake pilot projects in Phase One?
Dedicated, cross-functional teams to embed functional diversity. [34] (Chapter 6: Phase One: Critical Mass)
52
What system should be created in Phase One to allow executives to make swift decisions about projects?
A growth board-type system. [34] (Chapter 6: Phase One: Critical Mass)
53
What key skill should early teams be taught in Phase One?
How to design Lean Startup–type experiments that help them plot a course through uncertain terrain. [34] (Chapter 6: Phase One: Critical Mass)
54
Besides being the team's conscience, what is another critical role of functional team members?
They serve as enthusiastic ambassadors and translators for the new way of working back to their functions. [35] (Chapter 6: Phase One: Critical Mass)
55
What is a required element for an experiment to be good (Phase One)?
A clear falsifiable hypothesis. [30] (Chapter 6: Phase One: Critical Mass)
56
In designing an experiment, why is strict risk containment important?
To ensure that the worst possible outcome isn't disastrous, by modifying the experiment if necessary. [30] (Chapter 6: Phase One: Critical Mass)
57
What was Phase Two at GE called?
FastWorks. [36] (Chapter 7: Phase Two: Scaling Up)
58
What did GE's Phase Two rollout plan include?
Training all CEOs and senior leaders, building an internal coaching program, and having each division initiate its own FastWorks process. [36] (Chapter 7: Phase Two: Scaling Up)
59
What did Jeff Immelt push for regarding the two-year rollout plan for FastWorks Phase Two?
He wanted it done by the end of that year (in six months). [36, 37] (Chapter 7: Phase Two: Scaling Up)
60
What was a key part of the GE FastWorks Phase Two Roadshow training?
Each participant (executive) was required to work with a real-life project team from her or his division and do the work on site (learning by doing). [38] (Chapter 7: Phase Two: Scaling Up)
61
What was the core concern behind many executive questions during the GE FastWorks training?
"How do I account for this?" and "How does this relate to X?" (e.g., Six Sigma, commercial operations, regulation). [38] (Chapter 7: Phase Two: Scaling Up)
62
Why is an executive champion instrumental in spreading the new way of working (Phase Two)?
They advocate effectively and publicly, broadcasting the message that this is how the organization intends to work. [39] (Chapter 7: Phase Two: Scaling Up)
63
Besides following rote steps, what makes a good Lean Startup practitioner?
Living its philosophy, with success judged by outcomes: team culture, customer treatment, and impact in the world. [40] (Chapter 7: Phase Two: Scaling Up)
64
What are Deep Systems (Phase Three) often related to?
Applying lean methods to support functions like Legal, HR, and Procurement. [41-47] (Chapter 8: Phase Three: Deep Systems)
65
What was the purpose of the "one-page guidance document" developed for the legal department?
To lay out parameters within which innovation teams would be pre-cleared to work without needing explicit legal approval for every small experiment. [42, 43] (Chapter 8: Phase Three: Deep Systems)
66
What limitations did the one-page guidance document use for pre-approval?
Limits on the number of customers affected, total liability, and cost of the experiment. [42] (Chapter 8: Phase Three: Deep Systems)
67
How did the legal team improve the initial ten-page guidance document?
By applying lean methods, treating it as an MVP and iterating with teams (the "customers") to get it down to one page. [43] (Chapter 8: Phase Three: Deep Systems)
68
How did the guidance document act as an incentive structure?
It encouraged teams to build better experiments by starting smaller (e.g., 100 customers vs. 10,000) to avoid needing explicit legal permission. [48] (Chapter 8: Phase Three: Deep Systems)
69
How did the USCIS team improve the paper-based green card renewal process?
They took prototypes out to the processing center workers (in the cave) to try them and provide feedback, creating a continuous feedback loop. [49] (Chapter 8: Phase Three: Deep Systems)
70
What is FastWorks Everyday at GE?
An initiative designed to help employees apply Lean Startup-type questions and mindset not just to product development but to everything they do. [50] (Chapter 8: Phase Three: Deep Systems)
71
How did FastWorks Everyday scale within GE?
Through iteration and employee choice to take the training, rather than by mandate. [50] (Chapter 8: Phase Three: Deep Systems)
72
How did a team apply FastWorks to HR?
By piloting embedding videos into job descriptions to see if it drove the desired outcome for hiring into a new startup-like business. [47] (Chapter 8: Phase Three: Deep Systems)
73
Why is Innovation Accounting needed in established companies for innovation projects?
Because traditional finance and venture capital metrics (like ROI) are insufficient for interpreting early results from projects facing extreme uncertainty. [51-53] (Chapter 9: Innovation Accounting)
74
What is a common criticism faced by early-stage corporate projects with promising but small numbers?
That the sample size is too insignificant to matter. [52] (Chapter 9: Innovation Accounting)
75
What is the suggested reply to the criticism "You say we have too small a sample size"?
Excellent. We’re glad you agree our budget should be increased. Let’s scale up the experiment and get a larger sample. [52] (Chapter 9: Innovation Accounting)
76
Is Innovation Accounting the same as an equity calculation like Net Present Value (NPV)?
No. IA acts as a scorecard tracking progress, while NPV assesses the magnitude of possible success but not the probability. [54] (Chapter 9: Innovation Accounting)
77
What does Level 1 Innovation Accounting involve?
A simple dashboard full of metrics that teams can agree are important, demonstrating validated learning. [55] (Chapter 9: Innovation Accounting)
78
What is the key input measured in Level 1 Innovation Accounting?
A change in customer behavior from experiment to experiment. [55] (Chapter 9: Innovation Accounting)
79
What are the metrics in a Level 1 dashboard considered?
Inputs to the business model, acting as leading indicators. [55] (Chapter 9: Innovation Accounting)
80
What does seeing customers as a "flow" through the experiment factory involve?
Setting up a cadence of regular releases and regular customer contact. [56] (Chapter 9: Innovation Accounting)
81
What does Level 2 Innovation Accounting involve?
Going deeper than Level 1, building a dashboard that represents the complete interaction with the customer based on the business plan and LOFAs. [57, 58] (Chapter 9: Innovation Accounting)
82
What should a Level 2 dashboard include?
A complete set of the input metrics that make up the business plan, including metrics relating to costs and long-term retention. [57, 58] (Chapter 9: Innovation Accounting)
83
For a Level 2 dashboard, what must the set of inputs match?
The drivers of the spreadsheet in the back of the business plan. [58] (Chapter 9: Innovation Accounting)
84
What key hypotheses must a Level 2 dashboard encompass?
The value hypothesis and the growth hypothesis. [59] (Chapter 9: Innovation Accounting)
85
What does Level 3 Innovation Accounting involve?
Translating learning into dollars by rerunning the full business case (spreadsheet) after each new data point. [60] (Chapter 9: Innovation Accounting)
86
How does Level 3 Innovation Accounting translate learning into financial impact?
By rerunning the initial spreadsheet with new numbers learned from experiments and seeing how the NPV calculation changes. [60, 61] (Chapter 9: Innovation Accounting)
87
What is a key outcome of using Level 3 Innovation Accounting?
An accountability system that finance cares about, where everything learned can be translated into future financial impact and attendant cash flow. [61] (Chapter 9: Innovation Accounting)
88
What does Innovation Accounting create across the whole organization?
A common vocabulary and set of accountability standards for innovation projects across all scales (team, business, enterprise). [62] (Chapter 9: Innovation Accounting)
89
What does the "bingo card" diagram illustrate in Innovation Accounting?
How experiments play out across different scales of an organization (team, business, enterprise) and different time horizons (execution, behavior change, customer impact, financial impact). [62] (Chapter 9: Innovation Accounting)
90
What is the primary function of Growth Boards regarding innovation initiatives?
To evaluate projects on a regular cadence, hold teams accountable, give strategic guidance, and make go/no-go funding decisions. [63] (Chapter 9: Innovation Accounting)
91
What are the characteristics of effective Growth Boards mentioned in the text?
Dedicated Cadence, Action Oriented, Fact Based, and No Attendance, No Vote. [64] (Chapter 9: Innovation Accounting)
92
What approach did GE Oil & Gas take with growth boards?
They applied a venture capital model on top of the startup model for individual projects to maintain strategic focus and entrepreneurial spirit. [64] (Chapter 9: Innovation Accounting)
93
What did the GE Oil & Gas growth board learn and adapt?
The need for a "growth thesis" to show how projects fit into a portfolio, and developing templates for presenting to the board. [65, 66] (Chapter 9: Innovation Accounting)
94
What is Citi's Discover 10X program?
A structured model grounded in venture capital and Lean Startup principles, seeking solutions at least ten times better for clients, overseen by growth boards. [67] (Chapter 9: Innovation Accounting)
95
What is a key takeaway from the discussion on innovation accounting complexity?
Not every company needs complex Level 3 accounting; some run effectively on Level 1 dashboards and judgment, but larger scale requires more theory. [68] (Chapter 9: Innovation Accounting)
96
Given the rate of change from exponential technologies, what does the author suggest about "The Startup Way"?
We should pause before declaring it the "One True Management System for All Time." [69] (Chapter 10: A Unified Theory of Entrepreneurship)
97
What is a recurring theme in the book about entrepreneurship?
Its importance as a tool for developing business ecosystems. [70] (Chapter 11: Toward a Pro-Entrepreneurship Public Policy)
98
What three ecosystems does the author connect via entrepreneurship?
Within a company, Silicon Valley (investor community), and public policy. [70] (Chapter 11: Toward a Pro-Entrepreneurship Public Policy)
99
According to Jason Ford, what should successful entrepreneurs acknowledge?
That the support structure they were born into had a lot to do with their success. [71] (Chapter 11: Toward a Pro-Entrepreneurship Public Policy)
100
What belief does the author hold about genius and opportunity?
That genius is widely distributed, but opportunity is not. [71] (Chapter 11: Toward a Pro-Entrepreneurship Public Policy)
101
What program at Stanford applied Lean Startup methods to defense problems?
"Hacking for Defense," launched by Steve Blank. [72] (Chapter 11: Toward a Pro-Entrepreneurship Public Policy)
102
What is the NSF I-Corps program?
A government education program founded by Steve Blank that brings Lean Startup practices to researchers to help them turn discoveries into businesses. [73] (Chapter 11: Toward a Pro-Entrepreneurship Public Policy)
103
What legislative act made the NSF I-Corps program permanent?
The American Innovation and Competitiveness Act (2017). [73] (Chapter 11: Toward a Pro-Entrepreneurship Public Policy)
104
According to Ann Mei Chang, how does the traditional grants system reinforce a waterfall development model?
You have to design a whole solution up front and then run with it for three to five years. [74] (Chapter 11: Toward a Pro-Entrepreneurship Public Policy)
105
Based on her experience at USAID, what does Ann Mei Chang believe about data-driven experimentation?
It is equally applicable in global development to drive innovation and deliver more impactful interventions at scale. [74] (Chapter 11: Toward a Pro-Entrepreneurship Public Policy)
106
What is the name of Eric Ries's first book?
The Lean Startup. [2] (Introduction)
107
What is the ultimate goal when using an MVP?
To create the most successful process or product possible with the least waste. [18] (Chapter 4: Lessons from the Lean Startup)
108
What does the build-measure-learn feedback loop involve after analyzing results?
Building another MVP and launching it to keep learning. [75] (Chapter 4: Lessons from the Lean Startup)
109
What is a benefit of using innovation accounting across the organization?
It allows for development of dashboards and standards across all three scales (team, business, enterprise). [62] (Chapter 9: Innovation Accounting)
110
What kind of data should experiments gain knowledge from?
Measuring customer actions, not just what customers say. [12] (Chapter 6: Phase One: Critical Mass)
111
What did the College Scorecard team learn by testing the feature allowing comparison of colleges?
They learned it was of no interest at all. [13] (Chapter 4: Lessons from the Lean Startup)
112
What happens when the quest for perfection is replaced with a willingness to experiment and adapt the original idea?
The ultimate result is a more perfect product. [25] (Chapter 4: Lessons from the Lean Startup)
113
What does validated learning allow for regarding metrics?
Scientific inference from improvements in the exchange of value from one experiment to the next. [23] (Chapter 4: Lessons from the Lean Startup)
114
What makes a metric "accessible" (though not explicitly defined in detail in the text)?
Implied by context, metrics that are easily understood by the relevant audience. [23, 76] (Chapter 4: Lessons from the Lean Startup, Chapter 7: Phase Two: Scaling Up)
115
According to Jeff Smith at IBM, what happens when metrics are simpler?
People start getting better at a faster rate. [76] (Chapter 7: Phase Two: Scaling Up)
116
In the Twilio PRFAQ process, what is included in the press release and FAQ document?
Product launch date and cost (or good estimate). [26] (Chapter 4: Lessons from the Lean Startup)
117
What did the GE executive learn by treating a call like a pivot-or-persevere meeting?
That the go-to-market plan had been an experiment all along, revealing unexpected facts about regional requirements and competition. [77] (Chapter 4: Lessons from the Lean Startup)
118
What is a key benefit of allowing experiments to fail in a controlled way?
Teams learn for themselves what's important, gaining profound lessons about customers, the market, and themselves. [29] (Chapter 5: A Management System for Innovation at Scale)
119
What happens when experiment results merit the attention of senior leadership?
The organization can have a rational discussion about whether to double down, supported by actual customer data. [31] (Chapter 5: A Management System for Innovation at Scale)
120
What type of project was Series X at GE chosen for the first Lean Startup test?
A huge multiplatform engine, about as far away from software as possible, to prove applicability across the company. [78] (Chapter 6: Phase One: Critical Mass)
121
What should be the focus when identifying the riskiest parts of the plan?
Areas where the team is least comfortable and doesn't know as much as is necessary for success. [79] (Chapter 4: Lessons from the Lean Startup)
122
What is the goal of a Growth Board regarding decision making?
To make swift, clear decisions about the projects presented to them. [34] (Chapter 6: Phase One: Critical Mass)
123
What is one risk containment strategy for an MVP?
Restricting the number of customers who are exposed. [30] (Chapter 6: Phase One: Critical Mass)
124
What was a key finding from Toyota's connected car prototype experiment?
60 percent of users wanted to keep the prototype navigation system after a month. [80] (Chapter 6: Phase One: Critical Mass)
125
What did Dropbox measure for their product Paper to avoid past mistakes and ensure collaboration?
Virality and Week-two retention. [81] (Chapter 6: Phase One: Critical Mass)
126
How did the GE roadshow accelerate the adoption of FastWorks in Phase Two?
By making training personal and requiring participants to work with real project teams on site. [37, 38] (Chapter 7: Phase Two: Scaling Up)
127
According to the text, what is required for change like adopting The Startup Way to be permanent?
It has to come from within the organization, designed by people who understand the company culture. [82] (Chapter 7: Phase Two: Scaling Up)
128
Who should be put in charge of a transformation initiative within a company?
Someone already on staff, given the necessary resources. [82] (Chapter 7: Phase Two: Scaling Up)
129
What is a key characteristic of an effective coach in The Startup Way?
Being Socratic, authentic, direct, a good listener, responsive, and able to clearly separate opinion from fact. [83] (Chapter 7: Phase Two: Scaling Up)
130
What are three levels of funding offered by the Global Innovation Fund (GIF) for innovations?
Grants up to $230,000 for early pilot stage, with the money intended for learning, not outcomes. [84] (Chapter 8: Phase Three: Deep Systems)
131
What is the value of using staged funding as a nonprofit?
It keeps the focus on the right things: risk, evidence, and impact. [85] (Chapter 8: Phase Three: Deep Systems)
132
What is the benefit of creating a set of guidelines for experiments (like the one-page legal document)?
By serving as an incentive structure, it encourages teams to build better experiments. [48] (Chapter 8: Phase Three: Deep Systems)
133
What is the core idea behind a Unified Theory of Entrepreneurship?
Connecting the understanding of entrepreneurship across different domains (companies, Silicon Valley, public policy). [70] (Chapter 11: Toward a Pro-Entrepreneurship Public Policy)
134
What is one major obstacle in US immigration policy for entrepreneurs mentioned?
There is no category for a startup visa. [86] (Chapter 11: Toward a Pro-Entrepreneurship Public Policy)
135
What is one challenge Ann Mei Chang is addressing in applying lean methods to the social sector?
How to balance experimentation with funders’ need for certainty. [74] (Chapter 11: Toward a Pro-Entrepreneurship Public Policy)
136
What distinguishes Level 2 metrics from Level 1 metrics?
Level 2 includes metrics relating to costs and long-term retention, not just revenue. [58] (Chapter 9: Innovation Accounting)
137
What specific customer behavior indicates delight with the product, according to the value hypothesis in Level 2 IA?
It requires identifying a specific, quantitative behavior. [59] (Chapter 9: Innovation Accounting)
138
What does a Level 3 dashboard allow regarding metrics?
It literally makes everything learned translatable into net-present-value terms. [61] (Chapter 9: Innovation Accounting)
139
In the Dropbox growth board structure, what functional leaders are always included?
Engineering, Product, and Design. [63] (Chapter 9: Innovation Accounting)
140
What was a key learning from GE Oil & Gas applying the growth board model?
The need for a growth thesis to provide context on how projects fit into a portfolio. [65] (Chapter 9: Innovation Accounting)
141
What does Citi's D10X program aim to identify?
Solutions that are at least ten times better for its clients and customers. [67] (Chapter 9: Innovation Accounting)
142
What organization collaborated with Citi Ventures to install and manage growth boards within the D10X program?
Bionic and David Kidder. [67] (Chapter 9: Innovation Accounting)
143
What is the fundamental difference between Level 1 and Level 2 innovation accounting dashboards?
Level 1 is a simple dashboard of important metrics, while Level 2 represents the complete interaction with the customer and includes a full set of input metrics from the business plan. [55, 57] (Chapter 9: Innovation Accounting)
144
What is the key difference between Level 2 and Level 3 innovation accounting?
Level 2 uses a dashboard of input metrics, while Level 3 translates learning into financial value by rerunning the full business case spreadsheet based on new data. [57, 60] (Chapter 9: Innovation Accounting)
145
Why is it challenging for successful immigrant founders to stay in the US, even after years of education?
Because US immigration policy often lacks a specific startup visa category. [86] (Chapter 11: Toward a Pro-Entrepreneurship Public Policy)
146
What is one outcome Ann Mei Chang is working towards for funders in the social sector?
Funding based more on outcomes than on activity. [74] (Chapter 11: Toward a Pro-Entrepreneurship Public Policy)
147
What is the core principle behind GM's "Customer Zero" concept?
Having a lead customer use an early, buggy product to provide immediate feedback and reveal flaws. [Chapter 4: Lessons from the Lean Startup, based on source not provided in full text, but referenced in the index and glossary of typical Lean Startup concepts.] (Information outside of provided sources.)
148
What is Work in Process (WIP)?
Inventory between the start and end points of a routing. [nts.1n2] (Chapter 5: A Management System for Innovation at Scale)
149
What does Phase One (Critical Mass) primarily focus on?
Building proof points and demonstrating how the new method works within the specific organization. [34] (Chapter 6: Phase One: Critical Mass)
150
What does Phase Two (Scaling Up) primarily focus on?
Widespread rollout and embedding the new way of working across the organization. [36] (Chapter 7: Phase Two: Scaling Up)
151
What does Phase Three (Deep Systems) primarily focus on?
Applying the new methods to fundamental organizational systems like finance, HR, legal, and procurement. [41, 45, 51] (Chapter 8: Phase Three: Deep Systems, Chapter 9: Innovation Accounting)
152
What is the goal of a series of experiments, not just one?
To reveal the truth and draw the necessary conclusions. [30] (Chapter 6: Phase One: Critical Mass)
153
What is the relationship between metered funding and accountability?
Metered funding creates a direct relationship between the financing of a project and its progress, linking it to accountability. [85] (Chapter 8: Phase Three: Deep Systems)
154
What is a danger of focusing on assumptions about the distant future?
We tend to gravitate toward comfortable areas we know most about, neglecting the riskiest parts of the plan closer to the present. [14, 79] (Chapter 4: Lessons from the Lean Startup)
155
What does the example of the legal department at Pivotal demonstrate?
How applying lean methods to support functions can build customer trust and increase efficiency with fewer resources. [44] (Chapter 8: Phase Three: Deep Systems)
156
What is the core lesson from the USDS team's work with the USCIS paper processing center?
That going where the actual work happens and getting feedback from frontline workers is crucial for designing effective solutions. [49] (Chapter 8: Phase Three: Deep Systems)
157
What is the I-Corps program's goal regarding basic science and commercial ventures?
To bridge the gap between public support of basic science and private capital funding of new commercial ventures. [73] (Chapter 11: Toward a Pro-Entrepreneurship Public Policy)
158
Why is the 'auditable' quality for metrics necessary for decisions like killing a project?
The data and analysis must be clear and sound to be credible when challenged. [24] (Chapter 4: Lessons from the Lean Startup)
159
What happens to the business plan spreadsheet in Level 3 Innovation Accounting over time?
It is effectively refined to get more and more accurate as fresh data from experiments is plugged in. [61] (Chapter 9: Innovation Accounting)
160
What does "No Attendance, No Vote" mean for Growth Boards?
Only growth board members physically present may vote; no delegates or proxies are allowed. [64] (Chapter 9: Innovation Accounting)
161
What is the significance of GE's FastWorks Everyday being scaled through iteration rather than mandate?
It became a foundation for a whole culture change across the company by being adopted voluntarily based on demonstrated power. [50] (Chapter 8: Phase Three: Deep Systems)
162
What is the purpose of creating a common scorecard for evaluating brainstormed MVPs?
To create a common basis for evaluating prospects and identifying more expensive MVPs that test the same assumptions as cheaper ones. [87, 88] (Chapter 4: Lessons from the Lean Startup)
163
What is the key takeaway from the GE executive who treated a sales call like a pivot-or-persevere meeting?
Real-life situations, even seemingly low-risk ones, can reveal unexpected facts and require an experimental mindset. [77] (Chapter 4: Lessons from the Lean Startup)
164
How does the Startup Way process diagram (from Chapter 5) structure the system?
Beginning with Accountability: systems, rewards, and incentives that drive employee behavior and focus attention. [89] (Chapter 5: A Management System for Innovation at Scale)
165
What is a key characteristic of effective functional ambassadors?
They act as translators, explaining their role and the new method in terms others on the team can understand. [35] (Chapter 6: Phase One: Critical Mass)
166
In designing an experiment, what should be tied to what is measured?
At least one Leap-of-Faith Assumption (LOFA). [90] (Chapter 6: Phase One: Critical Mass)
167
Why is it important to have a cadence of regular releases and customer contact in Innovation Accounting?
To get used to seeing customers as a "flow" through the experiment factory and ensure continuous learning. [56] (Chapter 9: Innovation Accounting)
168
What does the "bingo card" (Phase and Scales chart) act as?
A kind of summary or rough map of the terrain being entered in the transformation process. [33] (PART TWO: A ROAD MAP FOR TRANSFORMATION)
169
What is a key benefit of Innovation Accounting regarding accountability?
It allows decisions about projects to be based on clear, credible, and auditable data, creating an accountability system finance cares about. [24, 61] (Chapter 4: Lessons from the Lean Startup, Chapter 9: Innovation Accounting)
170
What did the GE roadshow demonstrate about implementing widespread change?
It requires showing proof points, being candid about problems, and having internal champions with credibility. [36] (Chapter 7: Phase Two: Scaling Up)
171
What is the relationship between experiments and hypotheses?
Teams do experiments to gain knowledge by measuring customer actions, testing a clear falsifiable hypothesis. [12, 30] (Chapter 6: Phase One: Critical Mass)
172
What is the purpose of metered funding in the Startup Way?
It funds learning, not outcomes, requiring key questions to be answered and understanding of success probability to be increased. [84, 85] (Chapter 8: Phase Three: Deep Systems)
173
What is one example of applying Lean Startup methods to improve education itself?
Companies like AltSchool, Panorama Education, and Summit Public Schools using innovation to build new school systems. [73] (Chapter 11: Toward a Pro-Entrepreneurship Public Policy)
174
What was the thinking behind picking Series X as the first project to test FastWorks at GE?
If it could work on a project as far from software as a multiplatform engine, there would be no limit to its application company-wide. [78] (Chapter 6: Phase One: Critical Mass)
175
What does it mean for a Growth Board to be "Action Oriented"?
They must make go/no-go decisions at the meeting, with requests for follow-ups being the exception. [64] (Chapter 9: Innovation Accounting)
176
What does it mean for a Growth Board to be "Fact Based"?
They must overcome their biases about the "right" answer and use the evidence uncovered by teams to make decisions. [64] (Chapter 9: Innovation Accounting)
177
What is the key skill that powers successful venture capital, according to the text?
Recognizing early signs of success (even in small numbers) as worthy of further investment. [52] (Chapter 9: Innovation Accounting)
178
How does the USDS team's work on the I-90 process demonstrate applying Lean Startup principles to government?
By flying people to the 'cave' to observe the process and taking prototypes to workers for feedback, creating a continuous feedback loop. [49] (Chapter 8: Phase Three: Deep Systems)
179
What is the significance of the American Innovation and Competitiveness Act for the I-Corps program?
It made the program permanent and mandated its expansion into more federal agencies, state/local governments, and academic institutions. [73] (Chapter 11: Toward a Pro-Entrepreneurship Public Policy)
180
According to Ann Mei Chang, what was the US Global Development Lab set up to do?
To see how modern tools and approaches could accelerate progress in humanitarian aid and development assistance. [74] (Chapter 11: Toward a Pro-Entrepreneurship Public Policy)
181
What is the difference between leading indicators and lagging indicators (outputs) in Innovation Accounting?
Leading indicators are the inputs to the business model (like customer behavior changes), while outputs are traditional financial goals like ROI and market share. [55] (Chapter 9: Innovation Accounting)
182
What did Intuit's Scott Cook discover from his 15-minute exercise brainstorming MVPs and metrics?
That his team was able to consider much more varied and interesting proposals, even in a short time. [87] (Chapter 4: Lessons from the Lean Startup)
