Question 1

The conscientious, highly structured effort to learn new skills, carried out with an eye for long-term achievement, describes which of the following terms:

Accepted Answer

A) deliberate mindset 
B) perseverance 
C) deliberate practice 
D) structured learning 
A) deliberate mindset 
B) perseverance 
C) deliberate practice 
D) structured learning

Question 2

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

Accepted Answer

A) a form of intelligence 
B) the ability to work hard and sustain interest in long-term goals 
C) the ability to recover from failure 
D) the courage to fight for one's cause 
A) a form of intelligence 
B) the ability to work hard and sustain interest in long-term goals 
C) the ability to recover from failure 
D) the courage to fight for one's cause

Question 3

Based on her studies, Angela Lee Duckworth determined that grit:

Accepted Answer

A) is primarily a factor in physically demanding tasks 
B) was only a factor for success in the military 
C) contributed to success in all fields and roles studied 
D) was related to IQ 
A) is primarily a factor in physically demanding tasks 
B) was only a factor for success in the military 
C) contributed to success in all fields and roles studied 
D) was related to IQ

Question 4

What is true of experimentation?

Accepted Answer

A) Only well controlled, perfect experimentation will reveal knowledge. 
B) As long as you can learn from it, the action is a successful experimentation. 
C) Experimentation can lead to failure. 
D) Experimentation is considered a series of failed tests. 
A) Only well controlled, perfect experimentation will reveal knowledge. 
B) As long as you can learn from it, the action is a successful experimentation. 
C) Experimentation can lead to failure. 
D) Experimentation is considered a series of failed tests.

Question 5

Justin opened a physical therapy business in a new location and hired two key therapists well known in the area.Recently, the therapists informed Justin that they are starting their own physical therapy clinic and have been talking with all the referring physicians, telling them of their plan.Which top reason for startup failures was represented in this scenario?

Accepted Answer

A) bad location 
B) no market need 
C) get outcompeted 
D) not the right team 
A) bad location 
B) no market need 
C) get outcompeted 
D) not the right team

Question 6

By being aware of "shiny objects," entrepreneur Kurt Theobald referred to which of the following?

Accepted Answer

A) attraction to opportunities without a strategic way of assessing the opportunity 
B) attraction to products that are expensive to produce 
C) attraction to high-tech products that are high risk 
D) attraction to products that offer high potential 
A) attraction to opportunities without a strategic way of assessing the opportunity 
B) attraction to products that are expensive to produce 
C) attraction to high-tech products that are high risk 
D) attraction to products that offer high potential

Question 7

People in factor-driven economies have the greatest confidence in starting a business.What might contribute to this confidence?

Accepted Answer

A) People in these economies are poorer and have fewer options. 
B) Hard work is the key to success. 
C) They have greater skills to achieve success. 
D) They see a variety of businesses around them so there are more options. 
A) People in these economies are poorer and have fewer options. 
B) Hard work is the key to success. 
C) They have greater skills to achieve success. 
D) They see a variety of businesses around them so there are more options.

Question 8

Why would a growth mindset contribute to a person's grit?

Accepted Answer

A) Both characteristics are part of intelligence. 
B) A desire to learn will help overcome failure and allow the person to persevere. 
C) People with a growth mindset need to make things perfect. 
D) People with grit will keep doing things repeatedly. 
A) Both characteristics are part of intelligence. 
B) A desire to learn will help overcome failure and allow the person to persevere. 
C) People with a growth mindset need to make things perfect. 
D) People with grit will keep doing things repeatedly.

Question 9

Grit combines with deliberate practice to help the entrepreneur achieve success.

Accepted Answer

A) True 
 B)False

Question 10

By "recognize when your approach is wrong," entrepreneur Kurt Theobald is suggesting which of the following?

Accepted Answer

A) Everything can be overcome by working harder. 
B) Don't be afraid to admit that you have a problem. 
C) Recognize that if something isn't working, you need to change your approach. 
D) Obtain feedback from others. 
A) Everything can be overcome by working harder. 
B) Don't be afraid to admit that you have a problem. 
C) Recognize that if something isn't working, you need to change your approach. 
D) Obtain feedback from others.

Question 11

Contrast a "bad" failure from a "good failure."

Accepted Answer

At the low end of the spectrum, a "bad"

Question 12

Explain how an entrepreneur might fail from lack of ability.

Accepted Answer

An entrepreneur can become overextended.

Question 13

Ellen has been in business for less than 3 months.Because she wants to build the client base, she has delegated all operations and "back room" functions to her new team.As she continues to concentrate on marketing, what potential cause of failure might occur?

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 14

In spite of multiple failures, an entrepreneur is attending a meeting with a colleague to discuss a new approach in correcting an engineering problem.This is an example of which of the following:

Accepted Answer

A) blame aversion 
B) problem solving 
C) grit 
D) educational training 
A) blame aversion 
B) problem solving 
C) grit 
D) educational training

Question 15

Once you know that you suffer from fear of failure, which of the following would be a strategy to cope with it?

Accepted Answer

A) reframe goals so that they are more achievable 
B) avoid high risk situations 
C) make goals a bit harder so that if you fail there will be more reason for it 
D) think about what others will think about you 
A) reframe goals so that they are more achievable 
B) avoid high risk situations 
C) make goals a bit harder so that if you fail there will be more reason for it 
D) think about what others will think about you

Question 16

Lele just lost a major client.The next day, she made a list of potential new clients and started calling them to set up an introductory meeting.Which of the following characteristics is associated with this action?

Accepted Answer

A) resilience 
B) creativity 
C) learning 
D) adaptation 
A) resilience 
B) creativity 
C) learning 
D) adaptation

Question 17

What is the typical reaction of successful entrepreneurs to failures, particularly small failures?

Accepted Answer

A) they have very few failures because they do everything to avoid them 
B) they get out of the business as early as possible in order to cut their losses 
C) they see failures as opportunities to build on what they learned or capture new opportunities 
D) they try to make failures happen to increase the overall creative tension 
A) they have very few failures because they do everything to avoid them 
B) they get out of the business as early as possible in order to cut their losses 
C) they see failures as opportunities to build on what they learned or capture new opportunities 
D) they try to make failures happen to increase the overall creative tension

Question 18

In studying failure around the world, the Global Entrepreneurship Monitor report recognized three economies.Which one of the following represents an economy that is helped by more efficient processes, higher wages, and better product quality?

Accepted Answer

A) efficiency-driven 
B) factor-driven 
C) people-driven 
D) innovation-driven 
A) efficiency-driven 
B) factor-driven 
C) people-driven 
D) innovation-driven

Question 19

Define the term intentional iteration and explain why it is important.

Accepted Answer

Intentional iteration is the p

Question 20

What can be learned from the life of Abraham Lincoln?

Accepted Answer

A) Hard work will contribute to consistent success. 
B) Successful people experience more success than failures. 
C) Skills developed from all of one's experiences can combine to support later success. 
D) Success can have many definitions. 
A) Hard work will contribute to consistent success. 
B) Successful people experience more success than failures. 
C) Skills developed from all of one's experiences can combine to support later success. 
D) Success can have many definitions.

The conscientious, highly structured effort to learn new skills, carried out with an eye for long-term achievement, describes which of the following terms:

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

Based on her studies, Angela Lee Duckworth determined that grit:

What is true of experimentation?

By being aware of "shiny objects," entrepreneur Kurt Theobald referred to which of the following?

People in factor-driven economies have the greatest confidence in starting a business.What might contribute to this confidence?

Why would a growth mindset contribute to a person's grit?

Grit combines with deliberate practice to help the entrepreneur achieve success.

By "recognize when your approach is wrong," entrepreneur Kurt Theobald is suggesting which of the following?

Contrast a "bad" failure from a "good failure."

Explain how an entrepreneur might fail from lack of ability.

Ellen has been in business for less than 3 months.Because she wants to build the client base, she has delegated all operations and "back room" functions to her new team.As she continues to concentrate on marketing, what potential cause of failure might occur?

In spite of multiple failures, an entrepreneur is attending a meeting with a colleague to discuss a new approach in correcting an engineering problem.This is an example of which of the following:

Once you know that you suffer from fear of failure, which of the following would be a strategy to cope with it?

Lele just lost a major client.The next day, she made a list of potential new clients and started calling them to set up an introductory meeting.Which of the following characteristics is associated with this action?

What is the typical reaction of successful entrepreneurs to failures, particularly small failures?

In studying failure around the world, the Global Entrepreneurship Monitor report recognized three economies.Which one of the following represents an economy that is helped by more efficient processes, higher wages, and better product quality?

Define the term intentional iteration and explain why it is important.

What can be learned from the life of Abraham Lincoln?

Entrepreneurship: a Global Social Movement

Practicing Entrepreneurship

Developing an Entrepreneurial Mindset

Supporting Social Entrepreneurship

Generating New Ideas

Using Design Thinking

Testing and Experimenting in Markets

Building Business Models

Planning for Entrepreneurs

Creating Revenue Models

Bootstrapping for Resources

Financing for Startups

Developing Networks

Navigating Legal and Ip Issues

Marketing and Pitching Your Idea

Financial Statements and Projections for Startups

the Pitch Deck

Filters

Exam 11: Learning From Failure

The conscientious, highly structured effort to learn new skills, carried out with an eye for long-term achievement, describes which of the following terms:

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

Based on her studies, Angela Lee Duckworth determined that grit:

What is true of experimentation?

By being aware of "shiny objects," entrepreneur Kurt Theobald referred to which of the following?

People in factor-driven economies have the greatest confidence in starting a business.What might contribute to this confidence?

Why would a growth mindset contribute to a person's grit?

Grit combines with deliberate practice to help the entrepreneur achieve success.

By "recognize when your approach is wrong," entrepreneur Kurt Theobald is suggesting which of the following?

Contrast a "bad" failure from a "good failure."

Explain how an entrepreneur might fail from lack of ability.

Ellen has been in business for less than 3 months.Because she wants to build the client base, she has delegated all operations and "back room" functions to her new team.As she continues to concentrate on marketing, what potential cause of failure might occur?

In spite of multiple failures, an entrepreneur is attending a meeting with a colleague to discuss a new approach in correcting an engineering problem.This is an example of which of the following:

Once you know that you suffer from fear of failure, which of the following would be a strategy to cope with it?

Lele just lost a major client.The next day, she made a list of potential new clients and started calling them to set up an introductory meeting.Which of the following characteristics is associated with this action?

What is the typical reaction of successful entrepreneurs to failures, particularly small failures?

In studying failure around the world, the Global Entrepreneurship Monitor report recognized three economies.Which one of the following represents an economy that is helped by more efficient processes, higher wages, and better product quality?

Define the term intentional iteration and explain why it is important.

What can be learned from the life of Abraham Lincoln?

Entrepreneurship: a Global Social Movement

Practicing Entrepreneurship

Developing an Entrepreneurial Mindset

Supporting Social Entrepreneurship

Generating New Ideas

Using Design Thinking

Testing and Experimenting in Markets

Building Business Models

Planning for Entrepreneurs

Creating Revenue Models

Bootstrapping for Resources

Financing for Startups

Developing Networks

Navigating Legal and Ip Issues

Marketing and Pitching Your Idea

Financial Statements and Projections for Startups

the Pitch Deck

Filters