Developing Networks and Building Teams in Entrepreneurship MCQ
Which of the following is a tip for networking?
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Correct Answer:
Ask good questions.
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______ are people who choose to be involved with a venture in order to connect entrepreneurs with resources in an effort to steer the venture in the right direction
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Correct Answer:
Self-selected stakeholders
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______ is a two-way game; it’s a targeted search, with a philosophy of contributing, giving value, sharing and exchanging information, and interacting with people.
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Correct Answer:
Networking
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______ refers to our personal social networks populated with people who willingly cooperate, exchange information, and building trusting relationships with each other.
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Correct Answer:
Social capital
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A(n) ______ is a group of people with complementary skills and a shared sense of commitment coming together in starting an enterprise to build and grow the company.
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Correct Answer:
founding team
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The text specifies three main advantages to networks. Which of the following is one of these advantages?
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Correct Answer:
private information
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What is the best definition of cognitive comprehensiveness?
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Correct Answer:
A process in which team members examine critical issues with a wide lens and formulate strategies by considering diverse approaches, decision criteria, and courses of actions.
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______ teams feature members who possess the same or similar characteristics.
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Correct Answer:
Homogeneous
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Which of the following is true when it comes to maintaining your networking?
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Correct Answer:
Maintaining a network through interaction can take the form of tweeting a useful piece of information to your network.
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Which of the following is true about networking?
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Correct Answer:
Networking generally involves a quid pro quo strategy.
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______ is/are paying conscious attention to the way people perceive you and taking steps to be perceived in the way you want others to see you.
Answer
Correct Answer:
Impression management
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Using Internet sites like Twitter, LinkedIn, YouTube, Facebook and Instagram to connect with people who are experts in the field, potential stakeholders or fellow entrepreneurs is referred to as ______.
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Correct Answer:
virtual networking
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Which of the following is accurate when it comes to social capital?
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Correct Answer:
Bonds that are too strong can have a negative impact on society.
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There are three main varieties of social capital. Which of the following is one of those varieties?
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Correct Answer:
linkages
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A(n) ______ is an organization that helps early-stage entrepreneurs to refine an idea while also providing access to additional networks.
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Correct Answer:
incubator
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In Franchising Revenue Model Earning revenue by selling franchises of an existing business to allow another party to trade under the name of that business.
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Correct Answer:
True
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Customer-Led Pricing is a
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Correct Answer:
pricing strategy that asks customers how much they are willing to pay and then offers the product at that price.
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Populated with people who willingly cooperate, exchange information, and build trusting relationships with each other are called?
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Correct Answer:
Social capital
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The people who “self-select” into a venture in order to connect entrepreneurs with resources in an effort to steer the venture in the right direction are called
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Correct Answer:
Self-selected stakeholders
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The connections to people or groups regardless of their position in an organization, society, or other community are called
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Correct Answer:
Linkages
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Impression Management paying conscious attention to the way people perceive you and taking steps to be perceived in the way you want others to see you
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Correct Answer:
True
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A group of people with the same or similar characteristics such as age, gender, ethnicity, experience, and educational background.
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Correct Answer:
Homogenous Team
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A group of people with a mix of knowledge, skills, and experience.
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Correct Answer:
Heterogeneous Team
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Groupthink is a phenomenon in which people share a similar mindset, which inhibits their ability to spot gaps or errors.
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Correct Answer:
similar mindset
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Define Founding Team:
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Correct Answer:
A group of people with complementary skills and a shared sense of commitment coming together in founding an enterprise to build and grow the company.
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A process in which team members examine critical issues with a wide lens and formulate strategies by considering diverse approaches, decision criteria, and courses of action are called
Answer
Correct Answer:
Cognitive Comprehensiveness
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In bridges the links that go further than simply sharing a sense of identity; for example, making connections with distant friends or colleagues who may have different backgrounds, cultures, and so on.
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Correct Answer:
True
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The connections with family, friends, and others who have a similar cultural background or ethnicity are called
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Correct Answer:
Bonds
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