All the example exam questions with my answers on the theory of Organising for Entrepreneurship, taught by Prof. Bruneel in at KU Leuven.
Disclaimer: External Growth Strategies (ESG) not included as this is not part of the January 2022 exam.
ORGANISING FOR
ENTREPRENEURSHIP
Example Questions & Answers
KU Leuven
2022-2023
, Lecture 1: Introduction
- Explain the relationship between the type of business opportunity and the
cash need (+ related implications)
Undefined solution + unidentified need: Fantasy!
Undefined solution + identified need: Market-Pull: quickly generates “+” revenue
(shorter cash burning period + faster market cycle)
Defined solution + unidentified need: Technology-Push: long before “+” revenue
(long cash burning period + Long term revenue) => need BA / VC funding for
equity shares => EXIT oriented
Defined solution + defined need: Business opportunities
- Describe the concept “business model” and link it to examples
BM describes a firm’s Value Creation (problem-solution), Value Delivery
(resource bundling) & Value Capturing (revenue-costs)=The business in a nutshell
2 boundary constraints: Assumptions & Changing environments
Example: Evernote
VCrea: a service to keep all your thoughts, notes, documents …
VD: on any device (mac, windows, IOS …)
VCap: Freemium model (use for free + premium for extra features)
- Explain why entrepreneurs have to test the assumptions of their business
model. Use insights from the case Genappeal to support your answer
BM is always based on assumptions and never on certainties
Test assumptions to see if BM works in REAL life
Genappeal was a company thats matches singles based on genetic characteristics
Their assumptions: 12% of the EU poppulation is single and 50% is looking for a
partner => target market size: 26M +
But by pricing the subsription fee at 250$, they eliminated all the youngsters =>
BM was not viable anymore! So test assumptions before it’s too late
- Explain why business models often fail in rapidly changing environments. Use
insights from the case Mobile Internet startup to support your anwser
BM fail in rapidly changing environments because they are not able to make the
transition fast enough, often because the investors are too rigid. When a BM has to
change quick in order to adapt to the environment, investors can pull the plug
because they don’t posses the expertise and knowledge to guide the firm.
Internet mobile start up:
When the app store launched they had to change BM from techno provider to
product provider => different in value creation, delivery and capturing
VC was not interested in/ not competent with the new BM
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