Question 1

You should be wary of connecting with competitors on social networking sites such as Twitter or LinkedIn.

Accepted Answer

A) True 
 B)False

Question 2

Trice is a fellow student who heard about your business idea and put you in contact with his brother-in-law who might have similar interests.What is the role that Trice is playing?

Accepted Answer

A)  a mentor
B)  a self-selected stakeholder
C)  a role model
D)  a compatriot

Question 3

According to research studies,what element was reported as the most important factor to new venture success?

Accepted Answer

A)  the uniqueness of the product or service to fulfill a customer need
B)  the financial support to help the company through the initial years
C)  the lead entrepreneur and quality of the team
D)  the size of the lead entrepreneurs' network

Question 4

Research shows that domineering people tend to do which of the following when networking?

Accepted Answer

A)  keep the conversation steady and maintain heavy eye contact
B)  take control of the conversation and avoid eye contact
C)  single people out when talking in small groups
D)  not listen in group discussions

Question 5

At a church outing,Kelly learns from one of the participants that he just finished working with a company's exterior construction work and that the company is planning on redoing the landscaping.Kelly uses the opportunity to contact the company about his landscaping and water conservation products.Kelly is taking advantage of which of the following?

Accepted Answer

A)  insider trading
B)  private information
C)  bonds
D)  tethers

Question 6

Studies have shown that the lack of diversity in homogeneous teams can stifle creativity and information processing.

Accepted Answer

A) True 
 B)False

Question 7

Which of the following is one of the best ways to form a range of diverse connections with self-selected stakeholders?

Accepted Answer

A)  Pitch your product to a large number of people.
B)  Engage in shared activities that attract people from different experiences and backgrounds.
C)  Join the chamber of commerce.
D)  Join groups of other entrepreneurs interested in your same venture.

Question 8

Which of the following best describes the characteristics associated with a great founding team?

Accepted Answer

A)  wealth,technical skills,intelligence,ability to cope with pressure
B)  ability to cope with pressure,social and technical skills,ability to overcome complex obstacles
C)  financial backing,large social networks,business-related skillsets
D)  ability to cope with pressure,social skill,financial stability

Question 9

Casey makes sure that he introduces himself to the IT director of a company he has been interested in working for,even though the director is not familiar with Casey's profession of market research.Why would Casey feel it was an important connection?

Accepted Answer

A)  The director might hire him for his research skills.
B)  The director has power within the organization.
C)  The director represents a bond.
D)  The director has a different skillset.

Question 10

According to the text,what are the three main advantages to networks?

Accepted Answer

A)  more contacts,information,and ideas
B)  private information,power,and diverse skillsets
C)  sales,contacts,and supporters
D)  supporters,sales,and business partners

Question 11

To create a vision for a founding team,the team must address the issue of values,answering the question "What do we believe in?"

Accepted Answer

A) True 
 B)False

Question 12

According to the text,private information refers to which of the following?

Accepted Answer

A)  information marked "confidential" by the company
B)  information disclosed at a company meeting
C)  information passed on after signing a nondisclosure document
D)  information not normally available to the general public

Question 13

Our human capital is who we are and what we know.

Accepted Answer

A) True 
 B)False

Question 14

When working as a team,groupthink inhibits the team's ability to test or challenge assumptions.

Accepted Answer

A) True 
 B)False

Question 15

What statement generally sums up the importance of passion in your founding team?

Accepted Answer

A)  Passion and skills can compensate for experience.
B)  Passion needs to play a secondary role to experience.
C)  Passion can interfere with rational judgment.
D)  Enthusiasm cannot reduce the risk of starting a business.

Question 16

Which of the following best describes the purpose of a founding team?

Accepted Answer

A)  to brainstorm business ideas,finding one that will be most profitable
B)  to build and grow the company and provide economic and social returns
C)  to fund the business and create its business structure
D)  to finalize the business product or service

Question 17

To what does the term "diverse skillsets" refer,as related to social networks?

Accepted Answer

A)  the full scope of skills required for the production of your product
B)  the full scope of skills required for the delivery of your service
C)  people with different perspectives,skills,information,and backgrounds
D)  people in other professions

Question 18

According to the text,social capital is less tangible than physical and even human capital because its value can be easily assessed and measured.

Accepted Answer

A) True 
 B)False

Question 19

When deciding to hire someone for her new startup,Laura states,"We will have to train him,but he has the right attitude and spirit about this company." To what social capital dimension is Laura referring?

Accepted Answer

A)  relational
B)  structural
C)  dimensional
D)  cognitive

Question 20

What is the motive of self-selected stakeholders?

Accepted Answer

A)  They anticipate some form of gain from the relationship.
B)  They anticipate that you will want to help them in return.
C)  They are moved by your vision and want to be a part of it.
D)  They make a habit of supporting entrepreneurs,much like venture capitalists.

Exam 8: Developing Networks and Building Teams

You should be wary of connecting with competitors on social networking sites such as Twitter or LinkedIn.

Correct Answer
verified

According to the text,what are the three main advantages to networks?

Correct Answer
verified

According to the text,social capital is less tangible than physical and even human capital because its value can be easily assessed and measured.

Correct Answer
verified

According to research studies,what element was reported as the most important factor to new venture success?

Correct Answer
verified

Correct Answer
verified

To create a vision for a founding team,the team must address the issue of values,answering the question "What do we believe in?"

Correct Answer
verified

Research shows that domineering people tend to do which of the following when networking?

Correct Answer
verified

When working as a team,groupthink inhibits the team's ability to test or challenge assumptions.

Correct Answer
verified

What statement generally sums up the importance of passion in your founding team?

Correct Answer
verified

Which of the following best describes the characteristics associated with a great founding team?

Correct Answer
verified

According to the text,private information refers to which of the following?

Correct Answer
verified

What is the motive of self-selected stakeholders?

Correct Answer
verified

Casey makes sure that he introduces himself to the IT director of a company he has been interested in working for,even though the director is not familiar with Casey's profession of market research.Why would Casey feel it was an important connection?

Correct Answer
verified

Which of the following is one of the best ways to form a range of diverse connections with self-selected stakeholders?

Correct Answer
verified

When deciding to hire someone for her new startup,Laura states,"We will have to train him,but he has the right attitude and spirit about this company." To what social capital dimension is Laura referring?

Correct Answer
verified

Which of the following best describes the purpose of a founding team?

Correct Answer
verified

Trice is a fellow student who heard about your business idea and put you in contact with his brother-in-law who might have similar interests.What is the role that Trice is playing?

Correct Answer
verified

Our human capital is who we are and what we know.

Correct Answer
verified

Studies have shown that the lack of diversity in homogeneous teams can stifle creativity and information processing.

Correct Answer
verified

To what does the term "diverse skillsets" refer,as related to social networks?

Correct Answer
verified

Exam 8: Developing Networks and Building Teams

You should be wary of connecting with competitors on social networking sites such as Twitter or LinkedIn.

Correct AnswerverifiedShow Answer

According to the text,what are the three main advantages to networks?

Correct AnswerverifiedShow Answer

According to the text,social capital is less tangible than physical and even human capital because its value can be easily assessed and measured.

Correct AnswerverifiedShow Answer

According to research studies,what element was reported as the most important factor to new venture success?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

To create a vision for a founding team,the team must address the issue of values,answering the question "What do we believe in?"

Correct AnswerverifiedShow Answer

Research shows that domineering people tend to do which of the following when networking?

Correct AnswerverifiedShow Answer

When working as a team,groupthink inhibits the team's ability to test or challenge assumptions.

Correct AnswerverifiedShow Answer

What statement generally sums up the importance of passion in your founding team?

Correct AnswerverifiedShow Answer

Which of the following best describes the characteristics associated with a great founding team?

Correct AnswerverifiedShow Answer

According to the text,private information refers to which of the following?

Correct AnswerverifiedShow Answer

What is the motive of self-selected stakeholders?

Correct AnswerverifiedShow Answer

Casey makes sure that he introduces himself to the IT director of a company he has been interested in working for,even though the director is not familiar with Casey's profession of market research.Why would Casey feel it was an important connection?

Correct AnswerverifiedShow Answer

Which of the following is one of the best ways to form a range of diverse connections with self-selected stakeholders?

Correct AnswerverifiedShow Answer

When deciding to hire someone for her new startup,Laura states,"We will have to train him,but he has the right attitude and spirit about this company." To what social capital dimension is Laura referring?

Correct AnswerverifiedShow Answer

Which of the following best describes the purpose of a founding team?

Correct AnswerverifiedShow Answer

Trice is a fellow student who heard about your business idea and put you in contact with his brother-in-law who might have similar interests.What is the role that Trice is playing?

Correct AnswerverifiedShow Answer

Our human capital is who we are and what we know.

Correct AnswerverifiedShow Answer

Studies have shown that the lack of diversity in homogeneous teams can stifle creativity and information processing.

Correct AnswerverifiedShow Answer

To what does the term "diverse skillsets" refer,as related to social networks?

Correct AnswerverifiedShow Answer

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verified

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