15.10: Review Questions
- Page ID
- 51138
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\(\newcommand{\avec}{\mathbf a}\) \(\newcommand{\bvec}{\mathbf b}\) \(\newcommand{\cvec}{\mathbf c}\) \(\newcommand{\dvec}{\mathbf d}\) \(\newcommand{\dtil}{\widetilde{\mathbf d}}\) \(\newcommand{\evec}{\mathbf e}\) \(\newcommand{\fvec}{\mathbf f}\) \(\newcommand{\nvec}{\mathbf n}\) \(\newcommand{\pvec}{\mathbf p}\) \(\newcommand{\qvec}{\mathbf q}\) \(\newcommand{\svec}{\mathbf s}\) \(\newcommand{\tvec}{\mathbf t}\) \(\newcommand{\uvec}{\mathbf u}\) \(\newcommand{\vvec}{\mathbf v}\) \(\newcommand{\wvec}{\mathbf w}\) \(\newcommand{\xvec}{\mathbf x}\) \(\newcommand{\yvec}{\mathbf y}\) \(\newcommand{\zvec}{\mathbf z}\) \(\newcommand{\rvec}{\mathbf r}\) \(\newcommand{\mvec}{\mathbf m}\) \(\newcommand{\zerovec}{\mathbf 0}\) \(\newcommand{\onevec}{\mathbf 1}\) \(\newcommand{\real}{\mathbb R}\) \(\newcommand{\twovec}[2]{\left[\begin{array}{r}#1 \\ #2 \end{array}\right]}\) \(\newcommand{\ctwovec}[2]{\left[\begin{array}{c}#1 \\ #2 \end{array}\right]}\) \(\newcommand{\threevec}[3]{\left[\begin{array}{r}#1 \\ #2 \\ #3 \end{array}\right]}\) \(\newcommand{\cthreevec}[3]{\left[\begin{array}{c}#1 \\ #2 \\ #3 \end{array}\right]}\) \(\newcommand{\fourvec}[4]{\left[\begin{array}{r}#1 \\ #2 \\ #3 \\ #4 \end{array}\right]}\) \(\newcommand{\cfourvec}[4]{\left[\begin{array}{c}#1 \\ #2 \\ #3 \\ #4 \end{array}\right]}\) \(\newcommand{\fivevec}[5]{\left[\begin{array}{r}#1 \\ #2 \\ #3 \\ #4 \\ #5 \\ \end{array}\right]}\) \(\newcommand{\cfivevec}[5]{\left[\begin{array}{c}#1 \\ #2 \\ #3 \\ #4 \\ #5 \\ \end{array}\right]}\) \(\newcommand{\mattwo}[4]{\left[\begin{array}{rr}#1 \amp #2 \\ #3 \amp #4 \\ \end{array}\right]}\) \(\newcommand{\laspan}[1]{\text{Span}\{#1\}}\) \(\newcommand{\bcal}{\cal B}\) \(\newcommand{\ccal}{\cal C}\) \(\newcommand{\scal}{\cal S}\) \(\newcommand{\wcal}{\cal W}\) \(\newcommand{\ecal}{\cal E}\) \(\newcommand{\coords}[2]{\left\{#1\right\}_{#2}}\) \(\newcommand{\gray}[1]{\color{gray}{#1}}\) \(\newcommand{\lgray}[1]{\color{lightgray}{#1}}\) \(\newcommand{\rank}{\operatorname{rank}}\) \(\newcommand{\row}{\text{Row}}\) \(\newcommand{\col}{\text{Col}}\) \(\renewcommand{\row}{\text{Row}}\) \(\newcommand{\nul}{\text{Nul}}\) \(\newcommand{\var}{\text{Var}}\) \(\newcommand{\corr}{\text{corr}}\) \(\newcommand{\len}[1]{\left|#1\right|}\) \(\newcommand{\bbar}{\overline{\bvec}}\) \(\newcommand{\bhat}{\widehat{\bvec}}\) \(\newcommand{\bperp}{\bvec^\perp}\) \(\newcommand{\xhat}{\widehat{\xvec}}\) \(\newcommand{\vhat}{\widehat{\vvec}}\) \(\newcommand{\uhat}{\widehat{\uvec}}\) \(\newcommand{\what}{\widehat{\wvec}}\) \(\newcommand{\Sighat}{\widehat{\Sigma}}\) \(\newcommand{\lt}{<}\) \(\newcommand{\gt}{>}\) \(\newcommand{\amp}{&}\) \(\definecolor{fillinmathshade}{gray}{0.9}\)A nondisclosure agreement protects the venture by ________.
- outlining confidential information or knowledge that the parties do not want to share with outside, or third, parties and is considered a legally binding contract
- sharing information that is not confidential
- identifying key people who can access confidential information
- identifying disclosed information for outsider use
Which of the following documents should be discussed and agreed upon prior to the start of the venture?
- nondisclosure and noncompete agreements
- nondisclosure and founder’s agreements
- founder’s agreement and a code of conduct
- founder's, nondisclosure, noncompete agreements, and code of conduct
The founder’s agreement includes which of the following content items?
- non-disclosure clause
- personnel plan
- buyback clause
- marketing plan
According to some research on entrepreneurs, what is/are the most significant bias(es)?
- small numbers allow for niche markets
- entrepreneurs prefer taking action rather than planning
- entrepreneurs tend to be over confident and optimistic
- entrepreneurs fall for the planning fallacy
The law of small numbers refers to:
- an inability to attract a large target market
- a target market that is too small to lead to success
- a target market that aligns with key stakeholders
- both a and b
Why is it important to keep track of your assumptions?
- Knowing the assumptions provides background information related to the projected outcomes or numerical projections.
- Knowing the assumptions provides an opportunity support your biases.
- Assumptions are never accurate and are therefore discredited.
- Assumptions constantly change and therefore do not need to be tracked.
The Nominal Group technique ________.
- is only used in complex decisions
- has multiple uses for gaining feedback from participants
- can be used with only one participant
- restricts participant participation
The Delphi technique ________.
- requires participants to be in one location
- requires participants to come prepared to the activity by researching the problem
- requires time and commitment
- requires collaboration in answering the questionnaire
Acting as a mentor provides ________.
- expert assistance to the venture startup team and self-growth for the mentor
- opportunities to diminish relationships
- the mentor with professional development
- the mentee with peer recognition
A serial entrepreneur is someone who ________.
- wants to retire
- creates a pattern of starting multiple ventures
- plans for a low stress future
- plans to start the first venture
Benefits of a reflection journal include which of the following?
- identifying patterns, biases, habits and discovering new insights
- assigning new work responsibilities
- identifying wasted time
- avoid reviewing decisions that can’t be changed
Reflection journal is similar to ________.
- a post mortem
- a time log of your activities
- a scrapbook of pictures
- a record of assumptions
According to Dr. Grant, creatives are people who ________.
- are procrastinators
- act on multiple ideas
- plan out each detail
- are highly confident with no doubts about their success