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Exam 8: Developing Networks and Building Teams

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Question 21

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According to the text,many of the most successful ventures are built on forging relationships at the university level.

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Question 22

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What are the two biggest inhibiting factors of students building networks effectively?

A) lack of good role models and arrogance
B) lack of access to mentors and lack of experience
C) poor impression management and lack of confidence
D) limited knowledge and an inability to articulate

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Question 23

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When working with a founding team,it is important to keep a "hands off" approach,keeping the lines of responsibility clear.

Chris develops his company plan alone.He is now ready to launch and is looking for a founding team.Since his business is in petrochemicals,he assumes that the best team will be from his former university classmates who studied the subject with him.Discuss the pros and cons of Chris's assumptions.

Allen doesn't mind getting his hands dirty.As the co-owner of a small 10-person brewery,he is frequently seen scrubbing out containers,sweeping the floor,and ordering sandwiches for meetings.Recently,he was advised that he should not be doing these things,as doing so would lower his perceived image with the employees,who need to feel that he is in a special role.Discuss what Allen's response should be.

To what does the term "diverse skillsets" refer,as related to social networks?

The degree with which you share norms,visions,values,and beliefs with others describes which of the following dimensions of social capital?

Being aware of your body language,being polite and courteous,and being confident and open are all forms of ______.

Never underestimate the value of networking with your peers.

Erik and Janessa are considering a member for the founding team who has superior programming skills for their new software-related product.His successful programs are numerous and well known.They know that they want to expand to other products,and his experience would be valuable.In a networking discussion,the programmer stated that he was good at what he did and that working on Erik and Janessa's software would be "as good as any." Erik and Janessa felt that that was a sign that he was willing to be a founder.Discuss the advantages and disadvantages of adding him to the team.

According to research by the Economist Intelligence Unit,formal networking continues to be far more important to entrepreneurial success than informal networking.

To create a vision for a founding team,the team must address the issue of values,answering the question "What do we believe in?"

What two questions does the text recommend be asked when considering founding team members?

Your local chamber of commerce is a good place to look for support and networking opportunities.

Two members of the founding team are interviewing candidates to be a third member.One of their questions is to see how an applicant responded to a problem he or she encountered in the past.The applicant responded with an answer that revealed a great deal of industry knowledge.Later,one of the interviewers noted to the other that his statements used "I" instead of "we." Interpret the founder's concern in light of a startup's needs.

Which of the following best describes the characteristics associated with a great founding team?

Which of the following is one of the best ways to form a range of diverse connections with self-selected stakeholders?

According to the text,private information refers to which of the following?

When working as a team,groupthink inhibits the team's ability to test or challenge assumptions.

Janice asks her grandmother to help her out in her day care center while one of her employees is out on vacation.What is the nature of the social capital used in this action?