Module 8 Quiz: Do You Need to Change or Keep Going?

Due No due date Points 14 Questions 7 Time Limit None

Allowed Attempts Unlimited

Instruc ons
This quiz covers the content presented in Be Your Own Boss: Module 8. This quiz is designed for
practice. You will be allowed multiple attempts and the grade does not appear in the gradebook.

There are multiple task types that may be available in this quiz. In some task types, partial credit
scoring is allowed to foster learning. Please note that on tasks with multiple answers, points can be
deducted for selecting incorrect options.

Short answer or essay questions may appear on some of the quizzes. These questions are
designed for self-assessment and reflection and are not scored. Sample answers are provided
for self-evaluation.

At the completion of the quiz, some items may display feedback. The feedback will reference the
source of the content. For example - Video: Elements of Technopreneurship at time stamp 02:10.
Presentation Slide 4.

Form: 31449

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A empt History
Attempt Time Score
LATEST Attempt 1 34 minutes 12 out of 14 *

* Some questions not yet graded

Submitted Jul 27 at 7:01pm

Question 1 2 / 2 pts

True or False?
According to Dr. Powe, the speed of change is constant.

Correct! false
 true

Refer to curriculum topic: 1.0.0

Video: Do You Need to Change or Keep on Going? at time
stamp 2:22, Presentation slide 6
Because of advances in technology, the speed of change is
increasing.

Question 2 2 / 2 pts

True or False?
According to Dr.Powe, most changes in technology come from
customer requests.

Correct!
true

false

Refer to curriculum topic: 1.0.0

Video: Do You Need to Change or Keep on Going? at time
stamp 5:15, Presentation slide 9
Dr. Powe feels that it is important to listen carefully to your
customers because most changes to technology come from
their requests.

Question 3 Not yet graded / 2 pts

Since change is inevitable, it is important to continually monitor your
business environment, your organization, and your customers. List four
areas that should be included in the measuring and monitoring
procedures.

Your Answer:
Cash flow
Profitability
Competitor positions and activity
Technology changes and impacts
Customer complaints and compliments
New regulations or rules
Changes in pricing or performance
Changes in customer thinking
 Refer to curriculum topic: 1.0.0
Video: Do You Need to Change or Keep on Going? at time
stamp 8:47, Presentation slide 12 (also slides 7 - 9)
Answers will vary. Key areas to measure and monitor should
include four of the following:
Cash flow
Profitability
Competitor positions and activity
Technology changes and impacts
Customer complaints and compliments
New regulations or rules
Changes in pricing or performance
Changes in customer thinking

Question 4 2 / 2 pts

Your new business launched successfully six months ago. However,

you still have team members reviewing and monitoring the business
environment. What statement describes this practice?

It is a waste of manpower because the environment contains forces that

we cannot change.
 Government regulations require this type of review and monitoring.

Correct!
It allows you to see changing forces in advance so that you can
proactively modify your business.

Team-member time would be better spent on improving customer

service.

It is an expensive practice because it is easier to react to new forces as

they appear.

Refer to curriculum topic: 1.0.0

Video: Do You Need to Change or Keep on Going? at time
stamp 2:20, Presentation slide 6
Reviewing and monitoring the environment will give you
advance notice of new regulations or trends that are coming.
This will help you to proactively strengthen your business
advantage.

Question 5 2 / 2 pts
 A technopreneur needs to compete to stay ahead of the market.
According to Dr.Powe, what three features help businesses compete?
(Choose three.)

Correct! great service for customers

an easy to remember URL for your website

Correct! great processes and a passionate team

the latest hardware and software for the support team

centralized office locations

Correct! a good product that is desirable

Refer to curriculum topic: 1.0.0

Video: Do You Need to Change or Keep on Going? at time
stamp 11:30, Presentation slide 15/16
According to Dr.Powe, in order to compete, a business needs
great service, great processes, and a great product.

Question 6 2 / 2 pts

True or False?
Recent government regulations will make your product too expensive
to produce. After much discussion with the team, it is decided to
terminate production of this product before it bankrupts the company.
Dr. Powe would consider this a failure.

true

Correct! false
 Refer to curriculum topic: 1.0.0
Video: Do You Need to Change or Keep on Going? at time
stamp 12;50, Presentation slide 17
Sometimes an opportunity that existed for a period of time
ceases to exist for various reasons. According to Dr. Powe, it is
best to get out before it is too late. He looks at this situation as
the next opportunity, not as a failure.

Question 7 2 / 2 pts

According to Dr. Powe, it is important for Technopreneurs to respect

their customers. What are three ways to show this respect? (Choose
three.)

Assume customers are nontechnical and speak to them in simplistic

terms.

Correct!
Advise customers when you have taken action on their feedback.

Implement changes without crediting the customer.

Share ideas from one customer with other customers.

Correct!
Thank customers for their suggestions.

Because you will be considered arrogant if you acknowledge

complements, acknowledge only customer complaints.

Correct!
State how you will react to their feedback.
Refer to curriculum topic: 1.0.0
Video: Do You Need to Change or Keep on Going? at time
stamp 7:00, Presentation slide 11
It is important to listen to your customers and to encourage them
to contribute and to provide feedback. Customers will continue
to engage with you if they are shown a measure of respect. You
can respect customers by thanking them and acknowledging
their feedback. You should also state how you are planning to
use their feedback and let them know when you do take action
based on their feedback.