Exam 10: Resource Requirements

Whenever possible,effective entrepreneurs seek to control rather than own the resources they need.

State the hypotheses concerning networks and entrepreneurial effectiveness.

If a new venture is organized as a corporation,it must have a board of directors elected by ____.

One advantage of owning resources during the startup is that it puts the entrepreneur in a better position to commit and de-commit quickly.

What are the two contradictory suggestions provided by Howard H.Stevenson and William H.Sahlman about using other people resources as an entrepreneur?

Marshaling maximum resources is otherwise colloquially known as bootstrapping.

In a study of boards,and specifically venture capitalists' contributions to them,entrepreneurs tended to value financial expertise over operating experience.

Effective entrepreneurs are able to check network density,so as to avoid too many overlaps,while still attaining solidarity and cohesiveness.

A board of advisors is an especially good alternative to a board of directors because they are authorized to make legal decisions.

When choosing a consultant,an entrepreneur should expect a short-term relationship as the consultant is a third party for the venture.

As is the case with legal and accounting professionals,it is easy to judge consultants solely on the basis of their fees.

When choosing a banker or lender,at the end of the day,having the very best bank will be more important than having an excellent banker.

When hiring consultants for a firm,the best referral system is ____.

Minimal financing is colloquially referred to as ____.

Extending accounts receivable is one of the primary sources of working capital for many startups and growing firms.

During the chaotic startup phase of a venture,entrepreneurs should outsource the legal aspects of decisions and agreements to an expert attorney.

When seeking out advisors and specialists,entrepreneurs should involve them at an early stage and be skeptical of their credentials and advice.

The ______ requires companies to file paperwork with the Securities and Exchange Commission faster,to create a more transparent means of collecting and posting financial data,and to test their procedures for posting accurate,timely information.

Which of the following legal issues should be of least concern to an entrepreneur building a high-growth venture?

How can lack of money,employees,equipment and such actually work to the advantage of a startup entrepreneur or a bootstrapper?