Management Chapter Quiz
Questions for Chapter 6
True/False
1. A talented entrepreneur should be able to substitute for an experienced management team.
(False)
2. The size of your organization is inversely correlated to the amount of revenue your business can derive
(False)
3. Hiring a salesperson is more attractive than increasing support staff in regards to revenue generated.
(True)
4. Your team members can help you to evaluate feedback from outside sources.
(True)
5. Over 95% of entrepreneurs in the US report that their team members are the main source of seed financing.
(False)
6. A business superstar is unlikely to possess all the business skills needed for long term success.
(True)
7. Analysis of your resume will help you decide what other team members your firm needs.
(True)
8. Entrepreneurs who are overly conscious of their own weaknesses are more likely to fail
(True)
9. The Myers-Briggs personality type indicator can accurately predict an individual’s likelihood for success in an entrepreneurial endeavor.
(False)
10. Certain personalities are better suited for entrepreneurship than others.
(False)
11. Fast, dramatic growth can be a mistake for a business.
(True)
12. Early stage companies tend to be hierarchal.
(False)
13. Co-founders of a start-up should work on every task and decision together.
(False)
14. It is more common for teams to self-destruct because of personal conflicts than for lack of funding.
(True)
15. If you decide to start a venture, you should notify your current employer as soon as possible.
(True)
16. After you have started a business, it is a bad idea to combine your new job with working fulltime elsewhere.
(False)
17. If employees own equity in the company, they usually work harder.
(True)
18. In general, founder shares should be granted to at least 10 people.
(False)
19. Founder shares should be distributed equally between all founders.
(False)
20. It is a mistake to
True/False
1. A talented entrepreneur should be able to substitute for an experienced management team.
(False)
2. The size of your organization is inversely correlated to the amount of revenue your business can derive
(False)
3. Hiring a salesperson is more attractive than increasing support staff in regards to revenue generated.
(True)
4. Your team members can help you to evaluate feedback from outside sources.
(True)
5. Over 95% of entrepreneurs in the US report that their team members are the main source of seed financing.
(False)
6. A business superstar is unlikely to possess all the business skills needed for long term success.
(True)
7. Analysis of your resume will help you decide what other team members your firm needs.
(True)
8. Entrepreneurs who are overly conscious of their own weaknesses are more likely to fail
(True)
9. The Myers-Briggs personality type indicator can accurately predict an individual’s likelihood for success in an entrepreneurial endeavor.
(False)
10. Certain personalities are better suited for entrepreneurship than others.
(False)
11. Fast, dramatic growth can be a mistake for a business.
(True)
12. Early stage companies tend to be hierarchal.
(False)
13. Co-founders of a start-up should work on every task and decision together.
(False)
14. It is more common for teams to self-destruct because of personal conflicts than for lack of funding.
(True)
15. If you decide to start a venture, you should notify your current employer as soon as possible.
(True)
16. After you have started a business, it is a bad idea to combine your new job with working fulltime elsewhere.
(False)
17. If employees own equity in the company, they usually work harder.
(True)
18. In general, founder shares should be granted to at least 10 people.
(False)
19. Founder shares should be distributed equally between all founders.
(False)
20. It is a mistake to