GE ENTREP THE ENTREPRENERURIAL MIND

EXAM
Test 1 Test 3
1. B 1. These are the type of biases that an
2. C entrepreneur overconfidence bias, fundamental
3. A attribution error, confirmation bias, sunk-cost
4. B fallacy, and bandwagon effect. Overconfidence
5. B is the tendency to attribute another's actions to
6. D their character or personality, while attributing
7. C their behavior to external situational factors
8. A outside of their control. Confirmation bias
9. A causes founders to latch onto information–no
10. A matter how tenuous–that confirms pre-existing
11. B beliefs and dismisses naysayers or negative
12. B information. The sunk cost fallacy is our
13. D tendency to continue with an endeavor we've
14. B invested money, effort, or time into even if the
15. D current costs outweigh the benefits.
TEST 2 2. Understand Your Employees' Habits You are
1. True one of the first challenges to conquer. Manage
2. True Your Motivation requires you to be self-aware
3. True and understand your personal behaviors. You
4. Problem inventory analysis must be willing to be taught. Understanding
5. Consumers your brand from the inside out is only half the
6. Packaging battle. Remember to Be Present It is simple to
7. True carry your work with you in all facets of your
8. True life.
9. Creative Thinking 3. Most entrepreneurs are risk-takers by nature,
10. True or at the very least calculating visionaries with a
11. True clear plan of action to launch a new product or
12. True service to fill a niche in the industry.
13. Product Entrepreneurs confront several risks, including
14. False, Reverse Brainstorming fucuses on insolvency, financial risk, competitive risk,
the negative aspects of a product, environmental risk, reputational risk, and
service, or idea as well as ways to political and economic risk. Entrepreneurs
overcome these problems should anticipate to make mistakes, some of
15. True which will be costly. Businesses, on the other
hand, have a higher chance of success with the
correct preparation, money, and flexibility.