Exam 9: Building a New-Venture Team

Which of the following was NOT identified in the textbook as an attribute of an effective board of directors?

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 ________.

Which of the following was NOT identified in the textbook as an attribute of an effective board member?

Which of the following statements is untrue regarding founding teams?

A(n) ________ is a panel of experts who are asked by a firm's managers to provide counsel and advice on an ongoing basis.

The What Went Wrong feature in Chapter 9 focuses on Devver, a 2008 startup that helped software developers use cloud-based services to "test" their code in an expedient manner. According to the feature, one of the primary reasons Devver failed was ________.

A board of directors' three formal responsibilities are to appoint the officers of the firm, declare dividends, and ________.

A new venture team is the group of founders, key employees, and advisers that move a new venture from an idea to a fully functioning firm.

Sam Simpson is a four-time business owner. One thing that has served Sam well throughout his entrepreneurial career is his ability to build and maintain relationships with people whose interests are similar or whose relationships could bring advantages to his new ventures. According to the textbook, Sam is a good ________.

Are more firms started by individuals or founding teams? What are the advantages to founding a firm as a team rather than as an individual?

The members of heterogeneous teams are ________.

The Savvy Entrepreneurial Firm feature in Chapter 9 focuses on "lifehacks." According to the feature, a "lifehack" refers to any trick, shortcut, ability, or novelty method that increases a person's ________, efficiency, and effectiveness in both his or her personal life and career.

A board of directors' three formal responsibilities are to ________.

The process of building and maintaining relationships with people whose interests are similar or whose relationship could bring advantages to the firm is called ________.

A(n) ________ is a person who is in business for themselves, works on their own time with their own tools and equipment, and performs services for a number of different clients.