15.10: Review Questions
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