Exam 11: Anticipating Failure

Rory and Katie manufactured a smartphone-related product marketed for personal safety.Unsure about the best market segment to target,they developed a product for older adults and the general public but they decided to also market it for children.Which of the following is the most likely cause for failure here?

According to psychologist Angela Lee Duckworth,grit is the quality that enables people to work hard and sustain interest in their long-term goals.

Nour operated a successful massage and health spa in a lucrative resort location.She handled all reservations herself and if a customer called to make an appointment when she wasn't in the spa,she asked her employees to leave her a note.The notes sometimes went missing,resulting in angry customers.Which startup failure type is most likely represented in this scenario?

An entrepreneur who takes unreasonable actions due to a lack of clarity about future events most likely suffers from ______.

According to Stanford psychologist Carol Dweck,people with ______ develop their abilities through dedication,effort,and hard work.

Amy C.Edmondson,a professor of leadership and management at Harvard Business School,believes that failures are small blips compared to the success of an entrepreneur.

What can be said of small failures in the entrepreneurial journey?

Which of the following describes a successful entrepreneur's typical reaction to failures,particularly small ones?

What behavior is at the top of the failure spectrum?

According to Stanford psychologist Carol Dweck,people with ______ tend to believe that intelligence and talent is something we're born with,and they avoid failure at all costs.

A change in direction in response to a small failure is called a ______.

Many entrepreneurs who have failed become more confident,prepared,and motivated to attempt another startup.

An entrepreneur who conducts market tests to get early feedback and acquire important learning and information is demonstrating ______.

Researchers have suggested that the origins of fear of failure may lie in parent-child relations.

Psychologist Angela Lee Duckworth describes grit as which of the following?

One reason new companies fail is because the wrong processes are set up in the organization.

Founding CEO Alison led a team of talented programmers.The company quickly grew.Alison eventually stepped down as CEO because while she had strong technical skills,she realized she did not have the vision and skillset a CEO needed to lead a large corporation.Which of the following is likely the reason Alison stepped down?

Jeremiah has just closed his lumber yard.Based on construction demand,his business suffered during a decline in new construction.This,combined with unemployment in the area leading to fewer home improvement projects,created a limited market.Describe Jeremiah's potential reaction to this failure based on the principles of "small" and "big" failures.

People in Africa have the highest percentage of entrepreneurial intentions.

In the context of grit,committing to activities that enhance skills,as well as prioritizing improvement over perfection,is called ______.