Question 1

Explain how the ability to pivot can avoid a "big failure."

Accepted Answer

Small failures are unavoidable.Being abl

Question 2

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?

Accepted Answer

A) lack of ability 
B) process inadequacy 
C) uncertainty 
D) inattention 
A) lack of ability 
B) process inadequacy 
C) uncertainty 
D) inattention

Question 3

According to the text,we don't always hear about the reasons for business failures because ______.

Accepted Answer

A) expressing the emotions of failure is difficult,as admitting failure is unpleasant 
B) people may be unaware of their role in the failure 
C) people blame external reasons for their failure 
D) no one is interested in hearing about failures 
A) expressing the emotions of failure is difficult,as admitting failure is unpleasant 
B) people may be unaware of their role in the failure 
C) people blame external reasons for their failure 
D) no one is interested in hearing about failures

Question 4

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?

Accepted Answer

A) uncertainty 
B) process inadequacy 
C) inattention 
D) deviance 
A) uncertainty 
B) process inadequacy 
C) inattention 
D) deviance

Question 5

The quality that enables people to work hard and sustain interest in their long-term goals is ______.

Accepted Answer

A) fear of failure 
B) grit 
C) leadership 
D) the entrepreneurial mindset 
A) fear of failure 
B) grit 
C) leadership 
D) the entrepreneurial mindset

Question 6

Based on the description in the text,Jeff Bezos is a big believer in experimentation,especially when it comes to learning from ______.

Accepted Answer

A) new ventures 
B) startups 
C) failures 
D) other entrepreneurs 
A) new ventures 
B) startups 
C) failures 
D) other entrepreneurs

Question 7

The cofounder of Classy Llama,Kurt Theobald,learned from his failures and ______.

Accepted Answer

A) gave up on being an entrepreneur 
B) finally learned he was better as an employee 
C) made a success out of his 11th startup 
D) talked his parents into funding him one more time. 
A) gave up on being an entrepreneur 
B) finally learned he was better as an employee 
C) made a success out of his 11th startup 
D) talked his parents into funding him one more time.

Question 8

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

Accepted Answer

A) True 
 B)False

Question 9

What did CBI Insights find out when analyzing startup postmortems?

Accepted Answer

A) Co-founders cannot agree how to move forward quick enough. 
B) The companies failed 42 percent of the time because they did not solve a big enough problem. 
C) A little bump in the beginning will cause the startup to fail 34 percent of the time. 
D) Most startups fail because a few bad reviews on social media. 
A) Co-founders cannot agree how to move forward quick enough. 
B) The companies failed 42 percent of the time because they did not solve a big enough problem. 
C) A little bump in the beginning will cause the startup to fail 34 percent of the time. 
D) Most startups fail because a few bad reviews on social media.

Question 10

Angela Lee Duckworth's research has proven a link between talent and achievement.

Accepted Answer

A) True 
 B)False

Question 11

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

Accepted Answer

A) They usually lead to the overall failure of the company. 
B) They usually have no ultimate effect on the business or the entrepreneur. 
C) They are the low points but are manageable and help the entrepreneur learn. 
D) They cannot be reversed. 
A) They usually lead to the overall failure of the company. 
B) They usually have no ultimate effect on the business or the entrepreneur. 
C) They are the low points but are manageable and help the entrepreneur learn. 
D) They cannot be reversed.

Question 12

People in Africa have the highest percentage of entrepreneurial intentions.

Accepted Answer

A) True 
 B)False

Question 13

According to The Global Entrepreneurship Monitor report,people in what area of the world have the highest percentage of perceived opportunities?

Accepted Answer

A) Africa 
B) Oceania 
C) Asia 
D) Europe 
A) Africa 
B) Oceania 
C) Asia 
D) Europe

Question 14

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

Accepted Answer

A) courage 
B) excellence 
C) conscientiousness 
D) perseverance 
A) courage 
B) excellence 
C) conscientiousness 
D) perseverance

Question 15

Describe failure and its effect on entrepreneurs.

Accepted Answer

Learning and further opportunities often

Question 16

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

Accepted Answer

A) deviance 
B) inattention 
C) lack of ability 
D) uncertainty 
A) deviance 
B) inattention 
C) lack of ability 
D) uncertainty

Question 17

Sasha developed a new technology for cordless charging of cellphones and other devices,but she misled her investors about the cost of producing the new chargers and the number of units she could supply.Which of the following is the most likely cause of failure here?

Accepted Answer

A) lack of ability 
B) deviance 
C) uncertainty 
D) inattention 
A) lack of ability 
B) deviance 
C) uncertainty 
D) inattention

Question 18

Theranos,the blood testing company,is a high-profile example of deviance.

Accepted Answer

A) True 
 B)False

Question 19

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.

Accepted Answer

A big failure is a process that occurs o

Question 20

In the context of grit,the commitment to long-term goals through purposeful deliberate practice is called ______.

Accepted Answer

A) resilience 
B) excellence 
C) conscientiousness 
D) perseverance 
A) resilience 
B) excellence 
C) conscientiousness 
D) perseverance

Explain how the ability to pivot can avoid a "big failure."

According to the text,we don't always hear about the reasons for business failures because ______.

The quality that enables people to work hard and sustain interest in their long-term goals is ______.

Based on the description in the text,Jeff Bezos is a big believer in experimentation,especially when it comes to learning from ______.

The cofounder of Classy Llama,Kurt Theobald,learned from his failures and ______.

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

What did CBI Insights find out when analyzing startup postmortems?

Angela Lee Duckworth's research has proven a link between talent and achievement.

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

People in Africa have the highest percentage of entrepreneurial intentions.

According to The Global Entrepreneurship Monitor report,people in what area of the world have the highest percentage of perceived opportunities?

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

Describe failure and its effect on entrepreneurs.

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

Sasha developed a new technology for cordless charging of cellphones and other devices,but she misled her investors about the cost of producing the new chargers and the number of units she could supply.Which of the following is the most likely cause of failure here?

Theranos,the blood testing company,is a high-profile example of deviance.

In the context of grit,the commitment to long-term goals through purposeful deliberate practice is called ______.

Practicing Entrepreneurship

Activating an Entrepreneurial Mindset

Creating and Recognizing New Opportunities

Using Design Thinking

Building Business Models

Developing Your Customers

Testing and Experimenting With New Ideas

Supplement A: Financial Statements and Projections for Startups

Developing Networks and Building Teams

Supplement B: the Pitch Deck

Creating Revenue Models

Planning for Entrepreneurs

Bootstrapping and Crowdfunding for Resources

Financing for Startups

Navigating Legal and Ip Issues

Engaging Customers Through Marketing

Supporting Social Entrepreneurship

Filters

Exam 11: Anticipating Failure

Explain how the ability to pivot can avoid a "big failure."

According to the text,we don't always hear about the reasons for business failures because ______.

The quality that enables people to work hard and sustain interest in their long-term goals is ______.

Based on the description in the text,Jeff Bezos is a big believer in experimentation,especially when it comes to learning from ______.

The cofounder of Classy Llama,Kurt Theobald,learned from his failures and ______.

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

What did CBI Insights find out when analyzing startup postmortems?

Angela Lee Duckworth's research has proven a link between talent and achievement.

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

People in Africa have the highest percentage of entrepreneurial intentions.

According to The Global Entrepreneurship Monitor report,people in what area of the world have the highest percentage of perceived opportunities?

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

Describe failure and its effect on entrepreneurs.

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

Sasha developed a new technology for cordless charging of cellphones and other devices,but she misled her investors about the cost of producing the new chargers and the number of units she could supply.Which of the following is the most likely cause of failure here?

Theranos,the blood testing company,is a high-profile example of deviance.

In the context of grit,the commitment to long-term goals through purposeful deliberate practice is called ______.

Practicing Entrepreneurship

Activating an Entrepreneurial Mindset

Creating and Recognizing New Opportunities

Using Design Thinking

Building Business Models

Developing Your Customers

Testing and Experimenting With New Ideas

Supplement A: Financial Statements and Projections for Startups

Developing Networks and Building Teams

Supplement B: the Pitch Deck

Creating Revenue Models

Planning for Entrepreneurs

Bootstrapping and Crowdfunding for Resources

Financing for Startups

Navigating Legal and Ip Issues

Engaging Customers Through Marketing

Supporting Social Entrepreneurship

Filters