Ch8 Test Bank Docx Developing Networks and Building Teams

Test Bank

Chapter 8: Developing Networks and Building Teams

Multiple Choice

1. What is the best advice for building networks that will enable you to achieve more than if you act alone?

a. Build networks with people who share your profession.

b. Build networks with people in your industry.

c. Build networks focusing on investors.

d. Build networks with people who share your values.

Learning Objective: 8.1: Explain the role of networks in building social capital.

Cognitive Domain: Comprehension

Answer Location: The Power of Networks

Difficulty Level: Easy

AACSB Standard: Group and individual behaviors

2. What is social capital?

a. a personal social network of people who willingly cooperate, exchange information, and build trusting relationships

b. people with whom you connect on social networks, whether online or in real life

c. all your friends and family members

d. the people with whom you have contact with in your working life

Learning Objective: 8.1: Explain the role of networks in building social capital.

Cognitive Domain: Knowledge

Answer Location: The Power of Networks

Difficulty Level: Easy

AACSB Standard: Group and individual behaviors

3. Which of the following are the three dimensions of social capital?

a. financial, procedural, and service

b. financial, structural, and procedural

c. relational, structural, and cognitive

d. relational, durational, and commitment

Learning Objective: 8.1: Explain the role of networks in building social capital.

Cognitive Domain: Knowledge

Answer Location: The Power of Networks

Difficulty Level: Easy

AACSB Standard: Group and individual behaviors

4. The ______ dimension of social capital describes the type of social ties you have or don’t have and the degree to which those ties may be formal or informal.

a. relational

b. structural

c. dimensional

d. cognitive

Learning Objective: 8.1: Explain the role of networks in building social capital.

Cognitive Domain: Knowledge

Answer Location: The Power of Networks

Difficulty Level: Easy

AACSB Standard: Group and individual behaviors

5. Paul is assessing his social ties and starts by listing everyone he knows, regardless of the type of relationship. He then intends to classify them. On which dimension of social capital is Paul working?

a. relational

b. structural

c. dimensional

d. cognitive

Learning Objective: 8.1: Explain the role of networks in building social capital.

Cognitive Domain: Application

Answer Location: The Power of Networks

Difficulty Level: Medium

AACSB Standard: Application of knowledge

6. What social capital dimension describes the characteristics of your bond with your contacts?

a. relational

b. structural

c. dimensional

d. cognitive

Learning Objective: 8.1: Explain the role of networks in building social capital.

Cognitive Domain: Comprehension

Answer Location: The Power of Networks

Difficulty Level: Easy

AACSB Standard: Group and individual behaviors

7. When deciding to hire someone for her new startup, Laura states, “We will have to train him, but he has the right attitude and spirit about this company.” To what social capital dimension is Laura referring?

a. relational

b. structural

c. dimensional

d. cognitive

Learning Objective: 8.1: Explain the role of networks in building social capital.

Cognitive Domain: Application

Answer Location: The Power of Networks

Difficulty Level: Medium

AACSB Standard: Application of knowledge

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

a. relational

b. structural

c. dimensional

d. cognitive

Learning Objective: 8.1: Explain the role of networks in building social capital.

Cognitive Domain: Knowledge

Answer Location: The Power of Networks

Difficulty Level: Easy

AACSB Standard: Group and individual behaviors

9. According to the Organisation for Economic Cooperation and Development (OECD), connections with people who come from different backgrounds and cultures would be called which of the following?

a. familial

b. bonds

c. bridges

d. structural

Learning Objective: 8.1: Explain the role of networks in building social capital.

Cognitive Domain: Comprehension

Answer Location: The Power of Networks

Difficulty Level: Easy

AACSB Standard: Group and individual behaviors

10. Lonney attends a company picnic. Although most of the people in his company are older and come from different backgrounds, he feels it is important to go since they all work together. Lonney is acknowledging which of the following aspects of building social capital?

a. tethers

b. bonds

c. bridges

d. ties

Learning Objective: 8.1: Explain the role of networks in building social capital.

Cognitive Domain: Application

Answer Location: The Power of Networks

Difficulty Level: Medium

AACSB Standard: Application of knowledge

11. According to the Organisation for Economic Cooperation and Development (OECD), the connections with people who represent a different level of society—such as poor, middle class, or high society—would be considered what kind of social capital?

a. tethers

b. bonds

c. bridges

d. linkages

Learning Objective: 8.1: Explain the role of networks in building social capital.

Cognitive Domain: Comprehension

Answer Location: The Power of Networks

Difficulty Level: Easy

AACSB Standard: Group and individual behaviors

12. Steve has just started as a telemarketing assistant in a large company. During a holiday party, he has an extended conversation with the vice president of operations, during which they discover a common interest in antique maritime artifacts. They talk at length. What is the characteristic of this new relationship?

a. tether

b. bond

c. bridge

d. linkage

Learning Objective: 8.1: Explain the role of networks in building social capital.

Cognitive Domain: Application

Answer Location: The Power of Networks

Difficulty Level: Medium

AACSB Standard: Application of knowledge

13. 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?

a. bond

b. bridge

c. linkage

d. tether

Learning Objective: 8.1: Explain the role of networks in building social capital.

Cognitive Domain: Application

Answer Location: The Power of Networks

Difficulty Level: Medium

AACSB Standard: Application of knowledge

14. According to the Organisation for Economic Cooperation and Development, connections with people who are just like us, such as family, friends, and others who have a similar cultural background or ethnicity are called ______.

a. tethers

b. bonds

c. bridges

d. linkages

Learning Objective: 8.1: Explain the role of networks in building social capital.

Cognitive Domain: Comprehension

Answer Location: The Power of Networks

Difficulty Level: Medium

AACSB Standard: Group and individual behaviors

15. If you are in a networking group of 20 to 40 people, how many possible referrals and leads could you obtain from this group?

a. at least 10

b. at least 15

c. 40

d. an almost incalculable number

Learning Objective: 8.2: Demonstrate the value of networks for entrepreneurs.

Cognitive Domain: Knowledge

Answer Location: The Value of Networks

Difficulty Level: Easy

AACSB Standard: Group and individual behaviors

16. According to the text, what are the three main advantages to networks?

a. more contacts, information, and ideas

b. private information, power, and diverse skillsets

c. sales, contacts, and supporters

d. supporters, sales, and business partners

Learning Objective: 8.2: Demonstrate the value of networks for entrepreneurs.

Cognitive Domain: Comprehension

Answer Location: Advantages to Networks

Difficulty Level: Easy

AACSB Standard: Group and individual behaviors

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

a. information marked “confidential” by the company

b. information disclosed at a company meeting

c. information passed on after signing a nondisclosure document

d. information not normally available to the general public

Learning Objective: 8.2: Demonstrate the value of networks for entrepreneurs.

Cognitive Domain: Knowledge

Answer Location: Advantages to Networks

Difficulty Level: Easy

AACSB Standard: Group and individual behaviors

18. At a church outing, Kelly learns from one of the participants that he just finished working with a company’s exterior construction work and that the company is planning on redoing the landscaping. Kelly uses the opportunity to contact the company about his landscaping and water conservation products. Kelly is taking advantage of which of the following?

a. insider trading

b. private information

c. bonds

d. tethers

Learning Objective: 8.2: Demonstrate the value of networks for entrepreneurs.

Cognitive Domain: Application

Answer Location: Advantages to Networks

Difficulty Level: Medium

AACSB Standard: Application of knowledge

19. To what does the term “diverse skillsets” refer, as related to social networks?

a. the full scope of skills required for the production of your product

b. the full scope of skills required for the delivery of your service

c. people with different perspectives, skills, information, and backgrounds

d. people in other professions

Learning Objective: 8.2: Demonstrate the value of networks for entrepreneurs.

Cognitive Domain: Knowledge

Answer Location: Advantages to Networks

Difficulty Level: Easy

AACSB Standard: Group and individual behaviors

20. Power, as it relates to social networks, refers to which of the following?

a. senior executives who can introduce you to other powerful people

b. people who have the ability to fund your project

c. experts in the field

d. the ability that you have to convince others of your endeavor

Learning Objective: 8.2: Demonstrate the value of networks for entrepreneurs.

Cognitive Domain: Knowledge

Answer Location: Advantages to Networks

Difficulty Level: Easy

AACSB Standard: Group and individual behaviors

21. Casey makes sure that he introduces himself to the IT director of a company he has been interested in working for, even though the director is not familiar with Casey’s profession of market research. Why would Casey feel it was an important connection?

a. The director might hire him for his research skills.

b. The director has power within the organization.

c. The director represents a bond.

d. The director has a different skillset.

Learning Objective: 8.2: Demonstrate the value of networks for entrepreneurs.

Cognitive Domain: Application

Answer Location: Advantages to Networks

Difficulty Level: Hard

AACSB Standard: Application of knowledge

22. 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

Learning Objective: 8.2: Demonstrate the value of networks for entrepreneurs.

Cognitive Domain: Comprehension

Answer Location: Impression Management and Self-confidence

Difficulty Level: Medium

AACSB Standard: Group and individual behaviors

23. ______ is the concept of how people pay conscious attention to the way they are perceived and the steps they take to be perceived by others in a certain way.

a. Impression management

b. Interview management

c. Social dishonesty

d. Manipulation

Learning Objective: 8.2: Demonstrate the value of networks for entrepreneurs.

Cognitive Domain: Knowledge

Answer Location: Impression Management and Self-confidence

Difficulty Level: Easy

AACSB Standard: Group and individual behaviors

24. Kirby is going to be selling to an IT company that is known for casual work attire. Even though Kirby has just finished a presentation for a different company and is in a sports jacket and tie, he stops off at home to put on a casual shirt and sweater. What is Kirby’s action indicative of?

a. duplicity

b. reflection management

c. impression management

d. social mobility

Learning Objective: 8.2: Demonstrate the value of networks for entrepreneurs.

Cognitive Domain: Application

Answer Location: Impression Management and Self-confidence

Difficulty Level: Medium

AACSB Standard: Application of knowledge

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

a. impression management

b. attitude adjustment

c. self-confidence

d. nonverbal management

Learning Objective: 8.2: Demonstrate the value of networks for entrepreneurs.

Cognitive Domain: Comprehension

Answer Location: Impression Management and Self-confidence

Difficulty Level: Medium

AACSB Standard: Group and individual behaviors

26. In the context of stakeholders, self-selection ties in with the idea of ______.

a. enrollment

b. sales

c. attitude

d. impression management

Learning Objective: 8.2: Demonstrate the value of networks for entrepreneurs.

Cognitive Domain: Comprehension

Answer Location: Self-Selected Stakeholders

Difficulty Level: Medium

AACSB Standard: Group and individual behaviors

27. The process of ______ your network involves staying in touch through occasional interaction.

a. identifying

b. monitoring

c. maintaining

d. mediating

Learning Objective: 8.4: Illustrate the benefits of virtual networking.

Cognitive Domain: Knowledge

Answer Location: Maintaining Your Network

Difficulty Level: Easy

AACSB Standard: Group and individual behaviors

28. Trice is a fellow student who heard about your business idea and put you in contact with his brother-in-law who might have similar interests. What is the role that Trice is playing?

a. a mentor

b. a self-selected stakeholder

c. a role model

d. a compatriot

Learning Objective: 8.2: Demonstrate the value of networks for entrepreneurs.

Cognitive Domain: Application

Answer Location: Self-Selected Stakeholders

Difficulty Level: Easy

AACSB Standard: Application of knowledge

29. A self-selected stakeholder is characterized by which of the following?

a. They are willing to fund the company or purchase stock.

b. They have asked for a personal pitching session to see if your idea can be embraced.

c. They have some potential gain or loss in your company.

d. They feel motivated to help you gain access to information and resources that you currently do not have.

Learning Objective: 8.2: Demonstrate the value of networks for entrepreneurs.

Cognitive Domain: Knowledge

Answer Location: Self-Selected Stakeholders

Difficulty Level: Easy

AACSB Standard: Group and individual behaviors

30. What is the motive of self-selected stakeholders?

a. They anticipate some form of gain from the relationship.

b. They anticipate that you will want to help them in return.

c. They are moved by your vision and want to be a part of it.

d. They make a habit of supporting entrepreneurs, much like venture capitalists.

Learning Objective: 8.2: Demonstrate the value of networks for entrepreneurs.

Cognitive Domain: Knowledge

Answer Location: Self-Selected Stakeholders

Difficulty Level: Easy

AACSB Standard: Group and individual behaviors

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

a. Pitch your product to a large number of people.

b. Engage in shared activities that attract people from different experiences and backgrounds.

c. Join the chamber of commerce.

d. Join groups of other entrepreneurs interested in your same venture.

Learning Objective: 8.2: Demonstrate the value of networks for entrepreneurs.

Cognitive Domain: Comprehension

Answer Location: Self-Selected Stakeholders

Difficulty Level: Medium

AACSB Standard: Group and individual behaviors

32. What is a Meetup group?

a. a group of formal stakeholders that meets frequently

b. an international network for entrepreneurs

c. a local get-together of people who share a similar interest of any kind

d. a networking meeting sponsored by the local chamber of commerce

Learning Objective: 8.3: Describe different ways of building networks.

Cognitive Domain: Comprehension

Answer Location: Building Networks

Difficulty Level: Easy

AACSB Standard: Group and individual behaviors

33. Research shows that domineering people tend to do which of the following when networking?

a. keep the conversation steady and maintain heavy eye contact

b. take control of the conversation and avoid eye contact

c. single people out when talking in small groups

d. not listen in group discussions

Learning Objective: 8.3: Describe different ways of building networks.

Cognitive Domain: Application

Answer Location: Networking Events

Difficulty Level: Hard

AACSB Standard: Application of knowledge

34. What conversational stance does a good networker take?

a. generally takes the lead in the conversation

b. actively listens, leaning forward, and mirroring the speaker’s gestures

c. tends to join the larger group where more people can hear his or her message

d. will listen at first, then turn the conversation to his or her entrepreneurial goal

Learning Objective: 8.3: Describe different ways of building networks.

Cognitive Domain: Comprehension

Answer Location: Networking Events

Difficulty Level: Medium

AACSB Standard: Group and individual behaviors

35. Guy Kawasaki, author of The Art of the Start, suggested what tip to avoid canned email or the appearance of mass mailing?

a. Send the emails out on different days.

b. Send the email out using a personal email account.

c. Mention at least one personal item.

d. Address the email with the person’s name.

Learning Objective: 8.3: Describe different ways of building networks.

Cognitive Domain: Knowledge

Answer Location: The Give and Take of Networking

Difficulty Level: Easy

AACSB Standard: Group and individual behaviors

36. Which of the following actions is suggested for finding a mentor?

a. Send out a letter to influential people asking if they will be your mentor.

b. Consider who in your personal network knows you best.

c. Let people know at networking events that you are looking for a mentor.

d. Look for directories of mentors in one of the major networking organizations.

Learning Objective: 8.3: Describe different ways of building networks.

Cognitive Domain: Comprehension

Answer Location: Networking to Find Mentors

Difficulty Level: Medium

AACSB Standard: Group and individual behaviors

37. YouTube is used primarily by entrepreneurs for which of the following?

a. as a primary social networking site

b. for identifying experts and watching video tutorials

c. for finding role models

d. for posting links to interesting YouTube videos on blogs and websites

Learning Objective: 8.4: Illustrate the benefits of virtual networking.

Cognitive Domain: Knowledge

Answer Location: Virtual Networking

Difficulty Level: Easy

AACSB Standard: Group and individual behaviors

38. If you see someone standing alone at a networking event, you should ______.

a. leave the person alone

b. hand him or her your business card and walk away

c. not approach until you see someone else do so

d. approach him or her and try to strike up a conversation

Learning Objective: 8.3: Describe different ways of building networks.

Cognitive Domain: Comprehension

Answer Location: The Give and Take of Networking

Difficulty Level: Easy

AACSB Standard: Group and individual behaviors

39. Which of the following best describes the purpose of a founding team?

a. to brainstorm business ideas, finding one that will be most profitable

b. to build and grow the company and provide economic and social returns

c. to fund the business and create its business structure

d. to finalize the business product or service

Learning Objective: 8.5: Explain how networking can help to build the founding team.

Cognitive Domain: Comprehension

Answer Location: Networking to Build the Founding Team

Difficulty Level: Easy

AACSB Standard: Group and individual behaviors

40. According to research studies, what element was reported as the most important factor to new venture success?

a. the uniqueness of the product or service to fulfill a customer need

b. the financial support to help the company through the initial years

c. the lead entrepreneur and quality of the team

d. the size of the lead entrepreneurs’ network

Learning Objective: 8.5: Explain how networking can help to build the founding team.

Cognitive Domain: Knowledge

Answer Location: Networking to Build the Founding Team

Difficulty Level: Medium

AACSB Standard: Group and individual behaviors

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

a. Can I build the company without them? Can I find someone else just like them?

b. How loyal will they be to me? What conflicts would they have in joining the team?

c. How well will they support my vision of the company? How many people have similar skills?

d. How strong is their loyalty to the company? How loyal will they be to me?

Learning Objective: 8.5: Explain how networking can help to build the founding team.

Cognitive Domain: Knowledge

Answer Location: Networking to Build the Founding Team

Difficulty Level: Medium

AACSB Standard: Group and individual behaviors

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

a. wealth, technical skills, intelligence, ability to cope with pressure

b. ability to cope with pressure, social and technical skills, ability to overcome complex obstacles

c. financial backing, large social networks, business-related skillsets

d. ability to cope with pressure, social skill, financial stability

Learning Objective: 8.5: Explain how networking can help to build the founding team.

Cognitive Domain: Comprehension

Answer Location: Characteristics of a Great Founding Team

Difficulty Level: Medium

AACSB Standard: Group and individual behaviors

43. To judge the extent to which someone has a big ego, what does the text suggest you look for?

a. Determine how much of the conversation that person controls.

b. Look for a tendency to say “I” instead of “we” when the person talks about team successes.

c. Look for signs of humility when they talk about themselves.

d. Look for nonverbal cues such as voice volume, high-end dressing, and personal possessions.

Learning Objective: 8.5: Explain how networking can help to build the founding team.

Cognitive Domain: Comprehension

Answer Location: Leave Ego at the Door

Difficulty Level: Medium

AACSB Standard: Group and individual behaviors

44. What is Jenn Houser’s advice for aligning team goals and values?

a. Select a team that already shares the goals and values of the company.

b. Invest several days with your cofounders hashing out every detail of the business and how the partnership will work before you commit.

c. Clearly describe your goals and values up front before selecting the team.

d. Let your goals and values evolve as the company forms, drawing from your cofounders’ contributions along the way.

Learning Objective: 8.5: Explain how networking can help to build the founding team.

Cognitive Domain: Comprehension

Answer Location: Share Similar Attitudes Toward Values, Goals, and Risk

Difficulty Level: Medium

AACSB Standard: Group and individual behaviors

45. What statement generally sums up the importance of passion in your founding team?

a. Passion and skills can compensate for experience.

b. Passion needs to play a secondary role to experience.

c. Passion can interfere with rational judgment.

d. Enthusiasm cannot reduce the risk of starting a business.

Learning Objective: 8.5: Explain how networking can help to build the founding team.

Cognitive Domain: Comprehension

Answer Location: Care Deeply

Difficulty Level: Medium

AACSB Standard: Group and individual behaviors

46. According to the text, what type of relationship is most similar to the nature of the cofounders’ relationship?

a. the emotional and financial commitment of marriage

b. a strong peer-to-peer working relationship

c. a sports team with specific roles and complementary skills

d. a family setting with mutual support for all family members

Learning Objective: 8.5: Explain how networking can help to build the founding team.

Cognitive Domain: Comprehension

Answer Location: Care Deeply

Difficulty Level: Medium

AACSB Standard: Group and individual behaviors

47. Lonny’s founding company is composed of young men with whom he attended college. What term best describes this team?

a. homogeneous

b. heterogeneous

c. educational

d. standardized

Learning Objective: 8.5: Explain how networking can help to build the founding team.

Cognitive Domain: Application

Answer Location: Homogeneous and Heterogeneous Teams

Difficulty Level: Easy

AACSB Standard: Application of knowledge

48. Which of the following would best describe the term cognitive comprehensiveness?

a. the team process of examining issues and formulating strategies that considers different approaches, decision criteria, and courses of action

b. the team process that encourages all members to contribute based on their cognitive skills

c. the team process that makes sure everyone feels that they have contributed to the decision and have made their opinions clear

d. the team process that encourages different perspectives so that everyone can see the complete picture

Learning Objective: 8.5: Explain how networking can help to build the founding team.

Cognitive Domain: Comprehension

Answer Location: Homogeneous and Heterogeneous Teams

Difficulty Level: Easy

AACSB Standard: Group and individual behaviors

49. Which of the following describes Patrick Lencioni’s opinion about team conflict?

a. Team conflict is disruptive to productivity and should be avoided as much as possible.

b. Disagreement may feel uncomfortable but can help clarify problems and solutions.

c. Team conflict is unavoidable, so it is better to learn how to handle it when it arises.

d. Team conflict is the result of heterogeneous teams.

Learning Objective: 8.5: Explain how networking can help to build the founding team.

Cognitive Domain: Comprehension

Answer Location: Groupthink and Healthy Conflict

Difficulty Level: Medium

AACSB Standard: Group and individual behaviors

50. Which online social media network allows for asking questions in a specific section of the platform?

a. Twitter

b. TikTok

c. LinkedIn

d. Snapchat

Learning Objective: 8.4: Illustrate the benefits of virtual networking.

Cognitive Domain: Comprehension

Answer Location: Networking Through Social Media

Difficulty Level: Medium

AACSB Standard: Group and individual behaviors

51. What would best describe the concept of groupthink?

a. a desired state where everyone looks at a problem the same way and reaches quick consensus

b. an unfavorable phenomenon of having too similar a mindset, making it more difficult to spot gaps or errors

c. a brainstorming session where everyone in the group is inspired to think creatively

d. a final commitment the team makes to fully support the decision of the team

Learning Objective: 8.5: Explain how networking can help to build the founding team.

Cognitive Domain: Comprehension

Answer Location: Groupthink and Healthy Conflict

Difficulty Level: Medium

AACSB Standard: Group and individual behaviors

52. What is the role of the devil’s advocate?

a. to interject conflict into the team in order to gain dominance

b. to prevent the team from being too positive

c. to encourage different perspectives and challenge assumptions

d. to guide the team to the correct answer or solution to a problem

Learning Objective: 8.5: Explain how networking can help to build the founding team.

Cognitive Domain: Comprehension

Answer Location: Groupthink and Healthy Conflict

Difficulty Level: Medium

AACSB Standard: Group and individual behaviors

53. Janell is always asking for the source of comments or research to back up assumptions made at team meetings. Ultimately, the team creates better solutions because of this. What role is Janell playing as a team member?

a. the team mediator

b. the facilitator

c. the devil’s advocate

d. the dissenter

Learning Objective: 8.5: Explain how networking can help to build the founding team.

Cognitive Domain: Application

Answer Location: Groupthink and Healthy Conflict

Difficulty Level: Medium

AACSB Standard: Application of knowledge

54. Which of the following is one of the six traits identified by Kathleen Eisenhardt in regard to teams that engaged in healthy conflict?

a. reduced the amount of alternatives to a debated topic

b. did not share commonly agreed upon goals

c. resolved issues without forcing consensus

d. worked with less information rather than more

Learning Objective: 8.5: Explain how networking can help to build the founding team.

Cognitive Domain: Comprehension

Answer Location: Groupthink and Healthy Conflict

Difficulty Level: Medium

AACSB Standard: Group and individual behaviors

55. In a classic study of a devil’s advocate’s role, ______.

a. participants generally viewed the devil’s advocate as the most valuable member of the group

b. the effectiveness of a devil’s advocate was intrinsically tied to the power they held in the group

c. when told to eliminate one member, the devil’s advocate was chosen as the member to leave the group because they made the team uncomfortable

d. groups without devil’s advocates performed no better than those with one

Learning Objective: 8.5: Explain how networking can help to build the founding team.

Cognitive Domain: Comprehension

Answer Location: Groupthink and Healthy Conflict

Difficulty Level: Medium

AACSB Standard: Group and individual behaviors

True/False

1. People today are more likely to interact with others to build their social capital due to more time spent at the workplace, commuting to work, and using devices like personal computers and smartphones.

Learning Objective: 8.1: Explain the role of networks in building social capital.

Cognitive Domain: Comprehension

Answer Location: The Power of Networks

Difficulty Level: Medium

AACSB Standard: Group and individual behaviors

2. Strong ties to family and friends can be restrictive to the entrepreneur because they are less likely to challenge our ideas.

Learning Objective: 8.1: Explain the role of networks in building social capital.

Cognitive Domain: Comprehension

Answer Location: The Power of Networks

Difficulty Level: Easy

AACSB Standard: Group and individual behaviors

3. Incubators and accelerators are among the best places for entrepreneurs to network and find mentors.

Learning Objective: 8.3: Describe different ways of building networks.

Cognitive Domain: Comprehension

Answer Location: Incubators and Accelerators

Difficulty Level: Easy

AACSB Standard: Group and individual behaviors

4. A good way of disengaging from a networking conversation is to look the person in the eye, shake his or her hand, and say, “It has been great talking to you.”

Learning Objective: 8.3: Describe different ways of building networks.

Cognitive Domain: Comprehension

Answer Location: Networking Events

Difficulty Level: Medium

AACSB Standard: Group and individual behaviors

5. The quid pro quo strategy should be avoided in networking as it may be perceived as manipulative.

Learning Objective: 8.3: Describe different ways of building networks.

Cognitive Domain: Comprehension

Answer Location: Learning How to Network

Difficulty Level: Easy

AACSB Standard: Group and individual behaviors

6. Facebook and LinkedIn make it easy to find out which face-to-face conferences the people in your network are attending.

Learning Objective: 8.4: Illustrate the benefits of virtual networking.

Cognitive Domain: Knowledge

Answer Location: The Give and Take of Networking

Difficulty Level: Easy

AACSB Standard: Group and individual behaviors

7. Research has found that more and more, new fast-growth ventures have been founded by sole entrepreneurs with strong financial backing.

Learning Objective: 8.5: Explain how networking can help to build the founding team.

Cognitive Domain: Comprehension

Answer Location: Networking to Build the Founding Team

Difficulty Level: Medium

AACSB Standard: Group and individual behaviors

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

Learning Objective: 8.5: Explain how networking can help to build the founding team.

Cognitive Domain: Comprehension

Answer Location: Take a Hands-on Approach

Difficulty Level: Medium

AACSB Standard: Group and individual behaviors

9. The best way to read a room is to look where the highest-ranking people in the room are so you can get into that group.

Learning Objective: 8.3: Describe different ways of building networks.

Cognitive Domain: Comprehension

Answer Location: Networking Events

Difficulty Level: Easy

AACSB Standard: Group and individual behaviors

10. You should be wary of connecting with competitors on social networking sites such as Twitter or LinkedIn.

Learning Objective: 8.4: Illustrate the benefits of virtual networking.

Cognitive Domain: Comprehension

Answer Location: Virtual Networking

Difficulty Level: Easy

AACSB Standard: Group and individual behaviors

11. Studies have shown that the lack of diversity in homogeneous teams can stifle creativity and information processing.

Learning Objective: 8.5: Explain how networking can help to build the founding team.

Cognitive Domain: Knowledge

Answer Location: Homogeneous and Heterogeneous Teams

Difficulty Level: Medium

AACSB Standard: Group and individual behaviors

12. According to research, a heterogeneous group will have greater problem-solving and creative options but have greater challenges in communications.

Learning Objective: 8.5: Explain how networking can help to build the founding team.

Cognitive Domain: Comprehension

Answer Location: Homogeneous and Heterogeneous Teams

Difficulty Level: Medium

AACSB Standard: Group and individual behaviors

13. According to the text, social capital is less tangible than physical and even human capital because its value can be easily assessed and measured.

Learning Objective: 8.1: Explain the role of networks in building social capital.

Cognitive Domain: Comprehension

Answer Location: The Power of Networks

Difficulty Level: Easy

AACSB Standard: Group and individual behaviors

14. Our human capital is who we are and what we know.

Learning Objective: 8.1: Explain the role of networks in building social capital.

Cognitive Domain: Comprehension

Answer Location: The Power of Networks

Difficulty Level: Easy

AACSB Standard: Group and individual behaviors

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

Learning Objective: 8.2: Demonstrate the value of networks for entrepreneurs.

Cognitive Domain: Knowledge

Answer Location: Impression Management and Self-confidence

Difficulty Level: Easy

AACSB Standard: Group and individual behaviors

16. The number of possible referrals and leads one could obtain in a networking group of 20 to 40 people is almost incalculable.

Learning Objective: 8.2: Demonstrate the value of networks for entrepreneurs.

Cognitive Domain: Knowledge

Answer Location: The Value of Networks

Difficulty Level: Easy

AACSB Standard: Group and individual behaviors

17. Teams should discourage someone from taking on the role of “devil’s advocate” in meetings to prevent the team from becoming too critical.

Learning Objective: 8.5: Explain how networking can help to build the founding team.

Cognitive Domain: Comprehension

Answer Location: Groupthink and Healthy Conflict

Difficulty Level: Medium

AACSB Standard: Group and individual behaviors

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

Learning Objective: 8.5: Explain how networking can help to build the founding team.

Cognitive Domain: Comprehension

Answer Location: Groupthink and Healthy Conflict

Difficulty Level: Easy

AACSB Standard: Group and individual behaviors

19. Walking away from an event with a stack of business cards is as good as having a few meaningful conversations.

Learning Objective: 8.3: Describe different ways of building networks.

Cognitive Domain: Comprehension

Answer Location: Learning How to Network

Difficulty Level: Easy

AACSB Standard: Group and individual behaviors

20. Never underestimate the value of networking with your peers.

Learning Objective: 8.2: Demonstrate the value of networks for entrepreneurs.

Cognitive Domain: Knowledge

Answer Location: Impression Management and Self-Confidence

Difficulty Level: Easy

AACSB Standard: Group and individual behaviors

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

Learning Objective: 8.2: Demonstrate the value of networks for entrepreneurs.

Cognitive Domain: Knowledge

Answer Location: The Value of Networks

Difficulty Level: Easy

AACSB Standard: Group and individual behaviors

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

Learning Objective: 8.3: Describe different ways of building networks.

Cognitive Doman: Knowledge

Answer Location: Building Networks

Difficulty Level: Easy

AACSB Standard: Group and individual behaviors

23. An accelerator is an organization that helps early-stage entrepreneurs to refine an idea while also providing access to resources; an incubator is an organization that provides tailored support for existing startups that have already built a successful product or service.

Learning Objective: 8.3: Describe different ways of building networks.

Cognitive Domain: Comprehension

Answer Location: Incubators and Accelerators

Difficulty Level: Medium

AACSB Standard: Systems and processes in organizations

24. Twellow.com is a networking resource for posting your own biography and searching other’s biographies using your choice of keywords.

Learning Objective: 8.4: Illustrate the benefits of virtual networking.

Cognitive Domain: Knowledge

Answer Location: Networking Through Social Media

Difficulty Level: Easy

AACSB Standard: Group and individual behaviors

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

Learning Objective: 8.5: Explain how networking can help to build the founding team.

Cognitive Domain: Comprehension

Answer Location: Networking to Build the Founding Team

Difficulty Level: Easy

AACSB Standard: Group and individual behaviors

Essay

1. Two of your employees return from a conference. Price has a stack of business cards and is delighted that he met so many people. Marie sheepishly says that she really only met four people. She has set up a follow-up meeting with one of them. She said the others are not interested in your product at the moment. She discloses that she helped one business owner with a school for her daughter and shared a recipe for rhubarb pie with another. Discuss who has done the better job of networking; support your conclusion.

Learning Objective: 8.3: Describe different ways of building networks.

Cognitive Domain: Analysis

Answer Location: Learning How to Network

Difficulty Level: Hard

AACSB Standard: Analytical thinking

2. 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.

Learning Objective: 8.5: Explain how networking can help to build the founding team.

Cognitive Domain: Application

Answer Location: Homogeneous and Heterogeneous Teams

Difficulty Level: Medium

AACSB Standard: Application of knowledge

3. Jorge felt it was his role to point out flaws in his team’s plans and ideas. He was always polite, and the team had to admit that the group came up with better ideas than they originally had. However, they recently approached their manager with a request to have Jorge removed from the team. What advice would you, as manager, give the group?

Learning Objective: 8.5: Explain how networking can help to build the founding team.

Cognitive Domain: Application

Answer Location: Groupthink and Healthy Conflict

Difficulty Level: Hard

AACSB Standard: Application of knowledge

4. 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.

Learning Objective: 8.5: Explain how networking can help to build the founding team.

Cognitive Domain: Application

Answer Location: Leave Ego at the Door

Difficulty Level: Medium

AACSB Standard: Application of knowledge

5. Francesca is building her founding team. She knows that fundraising will be important over the next year and thus is looking for someone with strong fundraising skills. She hopes to be financially self-sufficient at the end of the year. Later, she hopes to be able to build strong sales, marketing, and operations teams with representation across the nation. What strategy should Francesca use in building her team?

Learning Objective: 8.5: Explain how networking can help to build the founding team.

Cognitive Domain: Application

Answer Location: Characteristics of a Great Founding Team

Difficulty Level: Medium

AACSB Standard: Application of knowledge

6. 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.

Learning Objective: 8.5: Explain how networking can help to build the founding team.

Cognitive Domain: Analysis

Answer Location: Take a Hands-on Approach

Difficulty Level: Hard

AACSB Standard: Analytical thinking

7. 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.

Learning Objective: 8.5: Explain how networking can help to build the founding team.

Cognitive Domain: Analysis

Answer Location: Care DeeplyDifficulty Level: Medium

AACSB Standard: Analytical thinking

8. Sue and Chris have just started a waste recycling company and would like to engage in virtual networking. Discuss some of the ways that Sue and Chris might start.

Learning Objective: 8.4: Illustrate the benefits of virtual networking.

Cognitive Domain: Application

Answer Location: Virtual Networking

Difficulty Level: Medium

AACSB Standard: Application of knowledge

9. Describe ways to build social capital while in college.

Learning Objective: 8.1: Explain the role of networks in building social capital.

Cognitive Domain: Application

Answer Location: The Power of Networks

Difficulty Level: Medium

AACSB Standard: Application of knowledge

10. Why is impression management and self-confidence important for networking?

Learning Objective: 8.2: Demonstrate the value of networks for entrepreneurs.

Cognitive Domain: Analysis

Answer Location: Impression Management and Self-Confidence

Difficulty Level: Hard

AACSB Standard: Application of knowledge