ch.... - Chapter 12: Negotiating and Networking MULTIPLE...

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Chapter 12: Negotiating and Networking MULTIPLE CHOICE 1. ____ have been identified as one of the most important factors distinguishing successful entrepreneurs from those who are not successful. a. Administrative skills b. Technical skills c. Writing skills d. Networking skills ANS: D Networking skills have been identified as one of the most important factors distinguishing successful entrepreneurs from those who are not successful. REF: 12-1 2. What is defined as the art and practice of attending social events and connecting with individuals who may be able to assist with the entrepreneurial venture? a. Communication b. Networking c. Contacting d. Administration ANS: B Networking is defined as the art and practice of attending social events and connecting with individuals who may be able to assist with the entrepreneurial venture. REF: 12-2 3. To acquire new business, find new employees, learn new methods and techniques, obtain resources etc., ____ would be very helpful. a. The ability to do research b. Technical skills c. Administration skills d. Networking skills ANS: D Entrepreneurs use their networking skills for a variety of reasons: acquiring new business; finding new employees and other human resources; learning new ways of doing things that may be better than the old ways; and obtaining resources such as money, office space, telephone systems, and so on. REF: 12-2 4. Research says that ____ could be a means to gain support, knowledge, and access to distribution channels. a. The entrepreneur’s social network b. Administration skills c. Technical knowledge d. Managerial skills ANS: A In particular, researchers have begun to assess the importance of the entrepreneur’s social network as a means to gain support, knowledge, and access to distribution channels.
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REF: 12-2 5. What are the three venture development phases identified by investigators? a. The motivation phase, the development phase, the establishment phase b. The planning phase, the development phase, the establishment phase c. The startup phase, development phase, the establishment phase d. The motivation phase, the planning phase, the establishment phase ANS: D The venture development phases identified by the investigators are: 1. The motivation phase, 2. The planning phase, and 3. The establishment phase. REF: 12-2 6. In which phase does the entrepreneur discuss the initial idea and develop their business concept? a. The motivation phase b. The planning phase c. The establishment phase d. The startup phase ANS: A The motivation phase: Entrepreneurs discuss the initial idea and develop their business concept. REF: 12-2 7. What happens in the planning phase of the venture development phase? a.
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ch.... - Chapter 12: Negotiating and Networking MULTIPLE...

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