Models

Question 1

Lean Startup Canvas

Answer 1

addition to Business model canvas - Focus on problem validation, experimentation, and pivoting quickly.

Question 2

3R’s Framework

Answer 2

By Wasserman (2014). Dilemmas to align within teams in terms of relationships, roles (individual/collective) and reward (division of equity/financial rewards).

Question 3

Social Value Proposition

Answer 3

Austin et al. (2006) - Model: the overlap between opportunity, people and capital, surrounded by macroeconomic context.

Question 4

Types of Entrepreneurial Ideas

Answer 4

Matrix: x-axis = novelty, y-axis = usefulness.

Highly novel/less useful: strange.

Highly novel/highly useful: revolutionary.

Less novel/less useful: bad.

Less novel/highly useful: evolutionary.

Question 5

CAGE Distance Framework

Answer 5

Cultural, Administrative, Geographic, and Economic distances between countries (Ghemawat, 2001).

Question 6

Growth Strategies

Answer 6

Ansoff (1965) - growth matrix: market on x-axis, product on y-axis.

Market penetration, product development, market development, diversification.

Question 7

What is Rewards about in the three R’s?

Answer 7

How to divide equity and other financial rewards within the team and how equity ownership and other financial rewards (e.g. salary and benefits) are allocated among the founding

Question 8

What is Role about in the three R’s?

Answer 8

Refer to the titles and responsibilities taken by individual cofounders, and the formal and informal decision-making structures the team collectively employs.

There either individual (founders and the degree to which their roles either overlap or are clearly divided) or collective (whether the team adopts an egalitarian , “consensus” approach, or a hierarchical, “autocratic” approach)

Question 9

What is Relationship about in the three R’s?

Answer 9

Focus on whom to attract as cofounders, ranging from friends and family to acquaintances and prior coworkers

Question 10

Entrepreneurs trade-off

Answer 10

4 different ways to be a leader. Either wanting financial gains or control over the company.

There is Rich = wanting to have more financial gains than control

King = wanting to have control over the company and financial gains comes second

Exception = both control over the company and financial gains

Failure = has none of it.

Question 11

Growth model by Kazanjian, 1998

Answer 11

1st STAGE: Conception and development
*Structure and formality are non-existent
*Creation of idea - construction prototype
*Find financial backers
*Strategic positioning

2nd STAGE: Commercialization
*Organization task system becomes a consideration; functions are created
*Single owner, few people dominate
*Strategic positioning

3rd STAGE: Growth
*To scale production, sales, and distribution while remaining competitive
*Pressures to attain profitability
*Balance profit against future growth
*Expansion of hierarchy, functional specialization, and professional expertise.
*Strategic positioning

4th STAGE: Stability
*Maintain growth momentum and market position
*Second-generation product
*Professional/experienced team support

Question 12

Building an innovative team requires:

Answer 12

1.Hire for mission
2.Promote psychological safety
3.Create diversity
4.Value teamwork