Which of the following was not identified in the textbook as an element of a new venture team?

• School Umm Al Qura University
• Course Title ECONOMIC EGFN 425
• Pages 22
• Ratings 100% (1) 1 out of 1 people found this document helpful

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Related Questions

• Q3:

  Kathy Denver is preparing to launch a home security firm. The team of people that will launch Kathy's firm are as follows: Kathy (CEO), Trevor (VP-Finance), Shelia (VP-Sales), a four-person Board of Directors, a five-person Board of Advisors, and Kathy's primary investor, who will assume an advisory role. The group of people that will launch Kathy's firm is called its ________. A) startup squad B) new venture panel C) new venture team D) startup cadre E) startup troop

• Q4:

  The high failure rate among new ventures is due, in part, to the liability of newness, which refers to the fact that new companies often falter because ________. A) they are underfunded and the founders of the firms don't move quickly enough to put together boards of directors and boards of advisors that can provide them direction and advice B) the founders of the firms underestimate the complexities involved with starting a new business and the firms lack a "track record" with outside buyers and sellers C) the people who start the firms can't adjust quickly enough to their new roles and the firms lack a "track record" with outside buyers and sellers D) the people who start the firms can't adjust quickly enough to their new roles and they are underfunded E) the founders of the firms underestimate the complexities involved with starting a new business and they don't move quickly enough to establish business partnerships

• Q5:

  The members of homogeneous teams are ________ in terms of their ________. A) diverse; abilities and experiences B) diverse; abilities, but very similar in terms of their experiences C) similar; abilities and experiences D) diverse; experiences, but very similar in terms of their abilities E) sometimes diverse; abilities and experiences and sometimes similar along the same dimensions

• Q6:

  According to the textbook, studies show that more than one individual starts ________ percent of all new firms. A) 20 to 25 B) 50 to 70 C) 5 to 15 D) 30 to 40 E) 75 to 90

• Q7:

  Savanna Combs opened a clothing boutique two years ago. Unfortunately, the boutique failed after 18 months. Savanna attributes the failure of her boutique to the facts that her employees couldn't adjust quickly enough to their new roles and that her boutique lacked a "track record" with outside buyers and sellers, which made it difficult to form partnerships and make sales. Savanna suffered from what research calls the ________. A) burden of novelty B) millstone of innovation C) liability of newness D) liability of preparedness E) burden of newness

• Q9:

  Which of the following statements is not true regarding the attributes of the founder(s) of a firm? A) Evidence suggests that important entrepreneurial skills are enhanced through higher education. B) Founders with prior entrepreneurial experience are more likely to avoid costly mistakes. C) Founders with experience in the same industry as their new ventures will typically have "blinders" on and are typically not as effective as founders new to the industry. D) Founders with broad social and professional networks have an advantage. E) New ventures that are started by a team rather than an individual have an advantage.

• Q10:

  The term "liability of newness" refers to the fact that companies often falter because the people who start the firms can't adjust quickly enough to their new roles and because the firms lack "track records" with outside buyers and suppliers.

• Q11:

  According to the textbook, which of the following statements is inaccurate regarding the size and composition of the founding team of a firm? A) There is no relationship between a founding team's size and its effectiveness. B) A founding team larger than four people is typically too large to be practical. C) The members of a homogeneous founding team are similar in terms of their abilities and experiences. D) The members of a heterogeneous founding team are diverse in terms of their abilities and experiences. E) A founding team can be too big, causing communication problems and increasing potential for conflict.

• Q12:

  The Partnering for Success feature in Chapter 9 focuses on a technique that entrepreneurs use to overcome the liabilities of newness. The suggestion made by the feature is to overcome the liabilities of newness by considering ________. A) interviewing a minimum of 20 startup founders to get a sense of what made them successful B) working in the new product development or corporate innovation division of a major corporation C) working for a startup for a minimum of two years before starting one D) earning an MBA E) joining a startup accelerator

• Q13:

  Next Big Sound, the company profiled in the opening feature of Chapter 9, is a music analytics company. Which of the following statements in incorrect regarding Next Big Sound's co-founders, its personnel policies or the company itself? A) Next Big Sound has three co-founders. B) The co-founders have healthy debates, but are able to come to consensus and get along and trust one another. C) Because the co-founders could not agree who would be the company's CEO, the three share the title of co-CEOs. D) The idea for Next Big Sound was created at a Startup Weekend event in San Francisco. E) The firm is in located in New York, New York.