Entrepreneurial toolset - Lecture: Wrap up total all weeks_Final

23 important questions on Entrepreneurial toolset - Lecture: Wrap up total all weeks_Final

What are the 3 steps of the entrepreneur process?

  1. Spark ( idea)
  2. Explore ( venture idea generation)
  3. Create ( Venture opportunity development)

What is Managerial thinking ( Causal ) ?



Selecting between given means to achieve a pre-determined goal. Etc: Sports goal

What is effectuation theory? And the 4 kenmerken?

Decision-making in uncentainty. Not a goal in mind.

  1. A thinking framework
  2. A set of heuristics to create value
  3. Doing the do-able
  4. How to get the sellable products and services established
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What is the working definition of 'creativity'?

Problem identification and idea generation

What is the working definition of 'ideation'?

Generating, selecting and communicating ideas solving a specific problem

What is the working definition of 'innovation'?

Selection, development and commercialisation of solution for a specific problem

What are the main four elements of 'radical innovation'?

  • Significant breakthrough
  • swims against the tide
  • Starts within future
  • High level of scientific discovery (push)
  • happens less

What are the main four elements of 'incremental innovation'?

  • Minor modification to existing products
  • swims with the tide
  • Starts with the present and work forwards
  • Come from market analysis- Pull

What are the 5 categories of new food products innovation?

  • Me-too products
  • New packing solutions
  • Line extensions
  • Co-innovation
  • True innovative products

What is the definition of 'entrepreneurship' in an innovation context?

Process of innovatively recombing resources to seek opportunities for creating value.

What are the two types of innovation?

  • Open innovation
  • Closed innovation

With types of thinking occur when you go from a a problem to a solution?

  • Divergent thinking ( Create choices )
  • Convergent thinking ( Make choices )

What is the working definitions of 'Value proposition?


the sum of the functionality of your proposition
based on the pain relievers and gain creators your product offering to a specific customer.

What is working definition of 'Customer profile'?

The sum of the jobs, pains and gains of a specific customer to which your value proposition can add value.



What are the 3 elements of a customer profile?

  • Gain and benefits
  • Pains and risk
  • Jobs and tasks



Value for whom?

What are the 3 elements of a value map(Consumer needs)?

  • Gain creators
  • Pain relievers
  • Products and services

When do you have a market fit?

When the value maps and customer profile match.

What is the function of the 'Mom test'?

Validating your customer profile and value proposition.


  • Helps to validate assumptions

Entrepreneurship: What is the difference between Classical versus sustainable?

  • Value-driven
  • Complexity of problems
  • Risks

Where do sustainable entrepreneurship overlap with the classical approach?

  • Opportunity identification
  • Value-creation
  • Need to earn money 

What are the 6 competencies for a sustainable entrepreneur? (new to old)

  • Foresighted thinking
  • Normative competence
  • Strategic action competence
  • System thinking competence
  • Diversity competence
  • Interpersonal competence

Revenues - Costs /= Profit , what are the other elements?

  • Balance environmental and societal impact with financial profit
  • Include aspects of
    • Governance
    • Employees
    • Community
    • Customers
    • Environment

What are 3 canvases regarding sustainable fincance?

  • Prosperity canvas
  • People canvas
  • Planet canvs

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