Module 9

Question 1

the process of implementing a business idea into a
functioning enterprise

Answer 1

Execution

Question 2

a comprehensive document that outlines your business’s
goals, strategies, market analysis, and financial projections

Answer 2

Business Plan

Question 3

Align execution with a competitive strategy: cost leadership, differentiation, or focus

Answer 3

Michael Porter’s Competitive Strategy

Question 4

Execution depends on strategy, structure, systems, shared values, skills, style, and staff

Answer 4

Mckinsey 7S Framework

Question 5

An 8 step process for managing change, crucial for implementing execution strategies

Answer 5

John Kotter’s Change Model

Question 6

A goal - setting methodology that helps teams focus and measure progress

Answer 6

OKR Framework

Question 7

A visual tool for strategic managment

Answer 7

Business Model Canvas

Question 8

Encourages creating uncontested market spaces

Answer 8

Blue Ocean Strategy

Question 9

Advocates building an MVP and iterating based on feedback

Answer 9

Lean Startup Method

Question 10

A continuous improvement method

Answer 10

PDCA Cycle, Plan Do Check Act

Question 11

Align business activities with strategic goals

Answer 11

Balanced Scorecard

Question 12

What are the S in Mckinsey’s 7s Framework

Answer 12

Soft S:
Style Staff
Skills
Shared Values
Hard S:
Strategy
Structure
Systems

Question 13

John Kotter’s Change Model Steps

Answer 13

Create Urgency, Build Coalition, Develop Vision, Communicate Vision, Empower Others to Act, Short-Term Wins, Consolidate, Achor change

Question 14

Contents of a Business Plan

Answer 14

• Introduction
• Market Analysis
• Business Model
• Execution Plan
• Financial Plan