Question 1

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

Accepted Answer

A)  Employee plans 
B)  Federal and state regulations 
C)  Merger and acquisitions 
D)  Tax planning and review 
A)  Employee plans 
B)  Federal and state regulations 
C)  Merger and acquisitions 
D)  Tax planning and review D

Question 2

In choosing a board of directors,entrepreneurs tend to value financial expertise over operating experience.

Accepted Answer

A) True 
 B)False  False

Question 3

Discuss some of the positive aspects of using advisors rather than a formal board of directors.

Accepted Answer

A board of advisors is designed to dispense advice,rather than make decisions,and therefore advisors are not exposed to personal liability.A firm can solicit objective observations and feedback from these advisors.Informal boards can bring needed expertise,without the legal entanglements and formalities of a regular board.Informal advisors are usually much less expensive.An informal group of advisors can also be a good mechanism through which a new venture can observe a number of people in action and select one or two as regular directors.The entrepreneur gains the advantages of counsel and advice from outsiders without being legally bound by their decisions.

Question 4

Effective entrepreneurs are more likely than others to undertake actions toward increasing their network density and ________.

Accepted Answer

The answer of Effective entrepreneurs are more likely than others...

Question 5

Network density relates to the efficiency and cohesiveness of an entrepreneur's bank of contacts and advisors.

Accepted Answer

A) True 
 B)False

Question 6

Directors of a company can be held personally liable for its actions and those of its officers.

Accepted Answer

A) True 
 B)False

Question 7

Describe some ways of using other people's resources.

Accepted Answer

Other people's resources can include mon

Question 8

What is the main reason for building a brain trust for a new venture?

Accepted Answer

To match the people

Question 9

Competent law firms rarely agree to defer charges or initially provide services at a lower than normal rate as a means of attracting new clients.

Accepted Answer

A) True 
 B)False

Question 10

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

Accepted Answer

A) True 
 B)False

Question 11

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

Accepted Answer

A) True 
 B)False

Question 12

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

Accepted Answer

A) True 
 B)False

Question 13

Staged capital commitments reduce:

Accepted Answer

A)  Equity dilution 
B)  Financial exposure 
C)  Risk 
D)  All of the above 
A)  Equity dilution 
B)  Financial exposure 
C)  Risk 
D)  All of the above

Question 14

How can lack of money,employees,equipment and such actually work to the advantage of the start-up entrepreneur?

Accepted Answer

Lack of resources spurs creati

Question 15

A entrepreneur is legally bound by the decisions of a formal board of directors.

Accepted Answer

A) True 
 B)False

Question 16

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

Accepted Answer

A) True 
 B)False

Question 17

Other people's resources do not include which of the following?

Accepted Answer

A)  Advice from friends or relatives 
B)  Government-funded management assistance programs 
C)  Free books and pamphlets 
D)  Material loaned or provided inexpensively or free by customers 
A)  Advice from friends or relatives 
B)  Government-funded management assistance programs 
C)  Free books and pamphlets 
D)  Material loaned or provided inexpensively or free by customers

Question 18

Why are members of a board of advisors not exposed to personal liability like formal board directors are?

Accepted Answer

A board of advisors

Question 19

Which of the following is not recommended as part of a productive board of directors?

Accepted Answer

A)  A compensation committee 
B)  An audit committee 
C)  An executive committee 
D)  All are recommended 
A)  A compensation committee 
B)  An audit committee 
C)  An executive committee 
D)  All are recommended

Question 20

Consultants should not be employed by start-ups to compensate for a lower level of professional experience in the team.

Accepted Answer

A) True 
 B)False

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

In choosing a board of directors,entrepreneurs tend to value financial expertise over operating experience.

Discuss some of the positive aspects of using advisors rather than a formal board of directors.

Effective entrepreneurs are more likely than others to undertake actions toward increasing their network density and ________.

Network density relates to the efficiency and cohesiveness of an entrepreneur's bank of contacts and advisors.

Directors of a company can be held personally liable for its actions and those of its officers.

Describe some ways of using other people's resources.

What is the main reason for building a brain trust for a new venture?

Competent law firms rarely agree to defer charges or initially provide services at a lower than normal rate as a means of attracting new clients.

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

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

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

Staged capital commitments reduce:

How can lack of money,employees,equipment and such actually work to the advantage of the start-up entrepreneur?

A entrepreneur is legally bound by the decisions of a formal board of directors.

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

Other people's resources do not include which of the following?

Why are members of a board of advisors not exposed to personal liability like formal board directors are?

Which of the following is not recommended as part of a productive board of directors?

Consultants should not be employed by start-ups to compensate for a lower level of professional experience in the team.

The Global Entrepreneurial Revolution for a Flatter World

The Entrepreneurial Mind: Crafting a Personal Entrepreneurial Strategy

The Entrepreneurial Process

Clean Commerce Is an Opportunity Sea Change

The Opportunity: Creating,shaping,recognizing,seizing

Screening Venture Opportunities

Opportunities for Social Entrepreneurship

The Business Plan

The Entrepreneurial Leader and the Team

Ethical Decision Making and the Entrepreneur

Franchising

Entrepreneurial Finance

Obtaining Venture and Growth Capital

The Deal: Valuation, structure, and Negotiation

Obtaining Debt Capital

Leading Rapid Growth, crises, and Recovery

The Family As Entrepreneur

The Harvest and Beyond

Filters

Exam 11: Resource Requirements

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

In choosing a board of directors,entrepreneurs tend to value financial expertise over operating experience.

Discuss some of the positive aspects of using advisors rather than a formal board of directors.

Effective entrepreneurs are more likely than others to undertake actions toward increasing their network density and ________.

Network density relates to the efficiency and cohesiveness of an entrepreneur's bank of contacts and advisors.

Directors of a company can be held personally liable for its actions and those of its officers.

Describe some ways of using other people's resources.

What is the main reason for building a brain trust for a new venture?

Competent law firms rarely agree to defer charges or initially provide services at a lower than normal rate as a means of attracting new clients.

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

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

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

Staged capital commitments reduce:

How can lack of money,employees,equipment and such actually work to the advantage of the start-up entrepreneur?

A entrepreneur is legally bound by the decisions of a formal board of directors.

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

Other people's resources do not include which of the following?

Why are members of a board of advisors not exposed to personal liability like formal board directors are?

Which of the following is not recommended as part of a productive board of directors?

Consultants should not be employed by start-ups to compensate for a lower level of professional experience in the team.

The Global Entrepreneurial Revolution for a Flatter World

The Entrepreneurial Mind: Crafting a Personal Entrepreneurial Strategy

The Entrepreneurial Process

Clean Commerce Is an Opportunity Sea Change

The Opportunity: Creating,shaping,recognizing,seizing

Screening Venture Opportunities

Opportunities for Social Entrepreneurship

The Business Plan

The Entrepreneurial Leader and the Team

Ethical Decision Making and the Entrepreneur

Franchising

Entrepreneurial Finance

Obtaining Venture and Growth Capital

The Deal: Valuation, structure, and Negotiation

Obtaining Debt Capital

Leading Rapid Growth, crises, and Recovery

The Family As Entrepreneur

The Harvest and Beyond

Filters