Entrepreneurship Essentials Assignment 06 Answers | January 2022 | NPTEL | Week 06 | The Today Blog

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Want to Know the Answers to NPTEL Entrepreneurship Essentials Assignment 06? This article will tell you the answer to the National Programme on Technology Enhanced Learning (NPTEL) Course “Entrepreneurship Essentials”. So read the complete article carefully.

About the Course: Entrepreneurship Essentials

The course provides foundational knowledge on various aspects of entrepreneurial venture creation and management during its life cycle. It has been designed to address multidisciplinary audiences. The objective of the course is to teach key issues faced by entrepreneurs and managers at different stages of the life-cycle of an enterprise and is relevant both for aspiring entrepreneurs and for decision-makers in established enterprises.

Topics can be classified into some major themes such as: Making a choice to create an entrepreneurial venture, the current trend of technology entrepreneurship, how to start a start-up, identifying opportunities, factors driving competitive advantages, organizational structure, basic knowledge of financial statements, and project report, introductory knowledge on marketing management, human resource management, & strategic management, risk analysis, the legal aspect of business, how to raise fund during life-cycle of new ventures.

CRITERIA TO GET A CERTIFICATE

Average assignment score = 25% of the average of best 8 assignments out of the total 12 assignments given in the course.
Exam score = 75% of the proctored certification exam score out of 100

Final score = Average assignment score + Exam score

YOU WILL BE ELIGIBLE FOR A CERTIFICATE ONLY IF THE AVERAGE ASSIGNMENT SCORE >=10/25 AND EXAM SCORE >= 30/75. If one of the 2 criteria is not met, you will not get the certificate even if the Final score >= 40/100.

The certificate will have your name, photograph, and score in the final exam with the breakup. It will have the logos of NPTEL and IIT Roorkee. It will be e-verifiable at nptel.ac.in/noc.

Entrepreneurship Essentials Assignment 06 Answers

Question 01 of 10

Identify the correct statement:

A. Leap of faith is the page in the manual of Design Thinking containing the core philosophy about design thinking.

B. Empathy is regarded as the hallmark of the design thinking process as it helps to define the problem well and thus a solution emerges easily.

C. Design thinking presupposes that some people are inherently creative and become successful in creative product development. The team should have at least one such person.

D. Design thinking is a convergence-divergence process that encourages a large idea around a problem with the understanding no idea is unimportant.

C. Design thinking presupposes that some people are inherently creative and become successful in creative product development. The team should have at least one such person.

Question 02 of 10

Which of the following statements is correct?

A. Design thinking is a convergence–divergence process

B. Design thinking is an iterative process involving validated learning.

C. Design thinking is a linear process of product development that compulsorily involves validation at the end of product development.

D. Design thinking is predominantly a product development process and is not very suitable for service innovation.

B. Design thinking is an iterative process involving validated learning.

Question 03 of 10

Which of the following is not one of the profiles of design thinkers?

A. Empathy.

B. Integrative thinking.

C. Experimentalism.

D. Preemptive thinking.

D. Preemptive thinking.

Entrepreneurship Essentials Assignment 06 Answers

Question 04 of 10

Which of the following is the most impactful statement about open innovation?

A. Open innovation failed because of the possibility of disputes over intellectual properties of participating enterprises.

B. It is better to choose partners or collaborators from the same country as cultural diversities may induce mistrust and may not lead to real new product as desired.

C. Open innovation process is a sure shot method to beat competition since it ensures the successful development of new products.

D. By sharing the capabilities, resources, and talents between collaborators, the open innovation process helps to significantly reduce product development time and cost.

D. By sharing the capabilities, resources, and talents between collaborators, the open innovation process helps to significantly reduce product development time and cost.

Question 05 of 10

Which of the following is true?

A. TRIZ involves 40 contradictions and 39 inventive principles.

B. Primary steps in TRIZ involve brainstorming, synectics, lateral thinking, and neuro-linguistic programming.

C. One of the major limitations of TRIZ is that it cannot overcome psychological Inertia, which is due to habits, education, paradigms, internal processes, past successes, past failures.

D. The primary premise of TRIZ is that one can learn how to innovate.

C. One of the major limitations of TRIZ is that it cannot overcome psychological Inertia, which is due to habits, education, paradigms, internal processes, past successes, past failures.

Question 06 of 10

Which of the following is not true?

A. While developing a new product, building a prototype enables a practical engagement with the users and you get deeper empathy.

B. The meanings that a product or service might have for its users include the memories it invokes, the extent and quality of interaction and enjoyment.

C. Technological innovations are important for business success. But the capability to innovate meaning can add unique value that is difficult to emulate.

D. Design thinking is a convergence–divergence process and you first converge to the key problem that is to be solved and then bring in diverse ideas to choose from for prototyping and validating.

D. Design thinking is a convergence–divergence process and you first converge to the key problem that is to be solved and then bring in diverse ideas to choose from for prototyping and validating.

Entrepreneurship Essentials Assignment 06 Answers

Question 07 of 10

All the following statements about entrepreneurs are true to varied degrees. Select the one that defines entrepreneurs the least.

A. Entrepreneurs identify opportunities around a major pain and create solutions to start a venture even in high-risk situations where others do not venture.

B. Entrepreneurs are capable of identifying opportunities in adversities, minimizing risks and executing smartly.

C. Entrepreneurs create successful businesses by finding solutions and avoiding risks.

D. Entrepreneurs create employment opportunities by becoming job givers rather than job seekers.

B. Entrepreneurs are capable of identifying opportunities in adversities, minimizing risks and executing smartly.

Question 08 of 10

Which of the following statements is the most appropriate (your answer should be based on the lecture materials only)?

A. Lack of necessary funds for scaling is the cause for the failure of the largest percentage of startups.

B. Maximum percentage of startups fail because they are not thrifty.

C. Maximum percentage of companies fail because they fail on product-market-fit.

D. Disharmony among founders is not a significant reason for failure of startups.

C. Maximum percentage of companies fail because they fail on product-market-fit.

Question 09 of 10

Which of the following arguments on the difference between Small Businesses and Entrepreneurial ventures is not correct?

A. Entrepreneurial ventures target high growth, whereas small businesses usually achieve low growth.

B. Small businesses have a long-term business perspective, whereas entrepreneurial ventures target immediate growth.

C. Entrepreneurial ventures are innovation-driven, whereas small businesses do not involve innovation.

D. Small businesses can translate themselves into entrepreneurial ventures by radically changing their business models.

B. Small businesses have a long-term business perspective, whereas entrepreneurial ventures target immediate growth.

Question 10 of 10

Identify the correct definition of ‘Synectic’ from the following.

A. Understanding how the cognitive conscious part of the brain interacts with the conscious creative part of the brain.

B. Collaboration between the cognitive and the creative part of the brain at the subconscious zone of the brain in order to find a solution to any problem that the conscious brain is striving to find.

C. The art of joining pieces of information to create new knowledge through collaboration between the conscious and the subconscious part of the brain.

D. The to-and-fro communication and dynamic validation between the challenges around a creative solution and the myriad of ideas generated by our brain.

B. Collaboration between the cognitive and the creative part of the brain at the subconscious zone of the brain in order to find a solution to any problem that the conscious brain is striving to find.

That’s All Guys! Hope you Like the Article.

That It Guys, in this article I have told you about the Answers to Entrepreneurship Essentials Assignment 06.

Disclaimer: We do not claim 100% surety of answers, these answers are based on our sole knowledge, and by posting these answers we are just trying to help students, so we urge do your assignment on your own.

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