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| Section | Objectives |
|---|---|
| Hypothesis-Driven Improvement | - Learning and Adaptation
|
| Understanding Evidence-Based Management | - EBM Principles
|
| Leadership and Organizational Agility | - Agile Leadership
|
| Key Value Areas | - Time to Market
|
Question 1
You invest $300K into Product X and $200k into Product Z. Which product will bring more value?
Response:
A. Product Z, because the team will focus on the essential needs of the users reducing waste generated from building features of no value.
B. Cannot decide as there is no relationship between product cost and value generated.
C. Product X, because more features can be implemented which can appeal to a broader market.
Question 2
Over a million customers use BLOOM company's product. BLOOM recently implemented and released a particular feature that they believed would be widely adopted by the users.
After gathering enough data from the test, it is concluded that the feature functions as intended however the usage rate was surprisingly low.
What should BLOOM do?
Response:
A. Devise a new experiment to learn whether usability issues are causing the problem.
B. Deem the new feature unsuccessful and proceed to implement the next feature.
C. Enlarge the sample size by extending the length of the original experiment.
Question 3
Which of the following provides you with the most valuable information about the value delivered by a product or service?
Response:
A. How much profit the product generates for the company.
B. How long it takes to fully deliver the product.
C. The outcomes of the solutions your product provides to your customers or users.
D. All of the above.
Question 4
Your product's sales are falling behind competitors, but you don't know why. Which Key Value Areas would give you the best insight into what to do next?
(choose the best two answers)
Response:
A. Ability to Innovate.
B. Time to Market.
C. Unrealized Value.
D. Current Value.
Question 5
You have two products serving different markets. Product A has the majority market share within its market and also has high customer satisfaction. Product B has low customer satisfaction and low market share in a new growing market where its competitors also share a small percentage of that market.
Which product should you prioritize investments?
(choose the best answer)
Response:
A. Product B
B. Product A
Solutions:
| Question 1 Answer: B | Question 2 Answer: A | Question 3 Answer: C | Question 4 Answer: C,D | Question 5 Answer: A |
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