COMMUNICATION (module 1)

MODULE COMMUNICATION

An entrepreneur can be defined as a scared but fearless outsider who recovers quickly and listens

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false

Adaptability, understanding your strengths and “faking it till you make it” can help you overcome entrepreneurial challenges

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Idea, costs, management, brand value, customer relations and sales are the main needs your startup have

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false

An entrepreneur’s mission is supposed to:

a. Change the status quo

b. Translate ideas, inventions or technology into new products or services

c. Design, launch and run a new small business

An entrepreneurs mindset typically means:

d. You are resourceful, you do not ask for permission and you love a challenge

e. You stay on course, copy existing concepts and play it safe

f. You consider yourself as part of the norm and you take time when recovering

The main entrepreneurial challenges are:

g. Adapting to competitors with a low budget, making yourself known with no reputation and partnering up with the established players

h. Changing status quo with no proof of concept, starting from scratch with no track record and being on your own while you must master everything to beat competitors

i. Getting all the funding you can asap, creating a perfect long term business plan and hiring the best salesforce

The main entrepreneurial solutions to the challenges are:

j. Adaptability, acknowledging your skills and “faking it till you make it”

k. Changing your concept, hiring employees to compensate for missing skills and “killing your darlings”

Your startups main initial needs among other things cover:

l. A well-established value chain and a great salesforce

m. In depth understanding of all accounting aspects and a perfect plan for everything

n. Basic understanding of costs and alternative/new sales methods/forms

Active listening requires that you build and measure before you can learn from it and potentially pivot your idea

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false

Problem/issue/need, value proposition, future plans, Team + partners and call to action are among the important parts of a complete pitch deck

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Partners would often prefer knowing about your business model. Investors knowing about your team and crowdfunders how you differentiate

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false

At the heart of a startup you find:

a. a transformer that changes ideas to sales

b. a catalyst that transforms ideas into products

c. a plan that fixes unexpected issues

In order to get and treat feedback effectively, you should

d. Build, measure and learn

e. Learn, measure and build

f. Learn, build and measure

Examples of strategy pivots include:

g. The fix pivot and the redefine pivot

h. The outperform pivot and the sales pivot

i. The customer segment-pivot and the engine of growth pivot

A pitch deck among other things include:

j. The business plan and the income statement

k. The value proposition and team + partners

l. A 10 year plan and the entrepreneurial mindset

When modifying your pitch deck to your target, you should:

m. Decide on the most important parts that fit just that target

n. Make sure you get through all slides, to make it a holistic presentation

o. Cover up all weakness and focus on selling points

Teams make the best decisions when

a. Leaders are autocratic

b. Team members who don’t know anything keep quiet

c. Decisions are made by consensus

d. Team members listen carefully

Healthy conflict is a key building block of an effective team.

True

false

The second stage of team formation and develop is

a. Performing

b. Storming

c. Forming

d. Norming

Which of the following is not a Team Maintenance Role?

a. Encouraging

b. Compromising

c. Harmonizing

d. Information Giving

Team creativity can be promoted in which of the following ways?

a. Establishing a competitive environment to promote creative ideas

b. Establishing challenges for the team

c. Evaluating ideas during the idea generation stage

d. Stressing deadlines to encourage intensity and focus

Critical thinking concerns…

a. Determining the cause of our beliefs

b. Pinpointing the psychological basis of our beliefs

c. Determining the quality of our beliefs

d. Assessing the practical impact of our beliefs

A company decision to diversify into new products and markets is an example of non-programmed decisions.

true

false

The word critical in critical thinking refers to…

a. A fault-finding attitude

b. Attempts to win an argument

c. Using careful judgment

d. Performing A lack of respect for other people

Decisions criteria are

a. Factors that are relevant to resolve the problem

b. Personal beliefs

c. Team beliefs

d. All the above

Which of the following best expresses the difference between programmed and non-programmed decisions?

a. Made by managers who prefer thinking style; Made by managers who use judgement and follow intuition

b. Occur under certainty or risk; Occur under uncertainty

c. Have computer routines; are not computerized

d. Handled with decision rules; decision rules cannot be developed

A mission statement is a short statement of why an organization exists, what its overall goal is.

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A business plan should include an initial analysis, goals and objectives, a plan covering the main management areas and a projection of results.

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The analysis stage includes:

e. Knowing what your company resources are and what it can offer.

f. A thorough study of competitors.

g. Having in mind all aspects concerning the macroeconomic and legal environment.

h. All of the above.

Controlling (monitoring results) means:

i. Writing a report on the company’s market share.

j. Making sure everyone arrives in time to work.

k. Identifying differences between the company’s expected results and the actual ones, and the causes for deviations, so it is possible to correct mistakes and improve performance.

l. Selling what was expected.

Soft skills include math, knowledge and expertise.

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Emotional intelligence means knowing yourself, keeping your emotions under control, empathizing and being able to persuade others.

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false

Networking means calling up people all the time to ask for favors.

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Networking allows your company to:

e. Sell more.

f. Improve your company’s image and visibility.

g. Do benchmarking.

h. All of the above.

Business etiquette is basically about manners and following good practices in business relationships.

true

false

You have to follow basic business etiquette with:

k. Customers.

l. Suppliers.

m. Your boss.

n. Customers, suppliers and everyone in your organization.

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MODULE COMMUNICATION

1. Communication

1.1 Entrepreneurial Skills

1.2 Active listening and presentation Skills

1.3 Team building &Conflict resolution

1.4 Critical Thinking & Decision Making

1.5 Strategic Planning

1.6 Networking and Business Etiquette

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