Exam 11: Learning From Failure

Jill had to close a cupcake bakery that she had established close to home.Her total investment was just under $7,000, representing all her personal savings.She attributes her failure to a poor business model.She had assumed that customers would come from wealthy residential areas when, in fact, customers seemed to be employees of large corporations who bought the cupcakes for office celebrations.In spite of her losses, Jill is hoping to start another cupcake bakery.Explain why this might be so.

Conscientiousness:

What is described as a blame-free environment? 

By "find your formula," entrepreneur Kurt Theobald referred to which of the following?

Mathew vents when his supervisor tells him that one of the engineers made a mistake in fulfilling the design.This action would be called which of the following?

Which of the following is one of the conclusions of Amy Edmondson?

Steve and Carl manufactured a smartphone-related product marketed for personal safety.Not knowing who the market would be, they developed the product for the senior citizen market and also the general public.They also had a version of the product for children.Which of the following might be a cause for failure?

What does it mean when we say that entrepreneurs have a unique relationship with the business?

Which of the following best defines the term perseverance?

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

In studying the life of Abraham Lincoln, what can be said about his orientation to others?

By "know who you are," entrepreneur Kurt Theobald referred to which of the following?

Erik makes sure that a good part of his management is based on activities that will enhance the skills of his founding team and employees.He is always trying to find a better way.What would describe this management approach?

Explain why people in innovation economies may be less likely to start a business.What can be done to encourage entrepreneurship in these economies?

How quickly you recover from failure depends on:

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

Why would it be helpful for students to share a "failure resume"?

Usually entrepreneurs find it difficult to deal with failure because:

Which of the following best defines the term resilience?

Which of the following suggests you have fear of failure?