Entrepreneurship Theory |71 Questions| With Correct Answers.

What success factor does NOT matter contrary to previous research? {Ans: Psychological factors}What are Wasserman's characteristics for Success? {Ans: - ppl w/ managering experience do better - ppl who have some (but < 25 yrs) experience do better - ppl who launch in an industry they work in do better **Success is NOT innate!!! ** you can acquire it!}Why should established companies encourage startups? {Ans: bc you can invest + benefit from startups plus allows you to keep them in your network}Innovation Driven Enterprises {Ans: -focus on global mkts - based on competitive advantage + innovation - diverse ownership + external capital}What influences ppl when choosing a team? {Ans: 1. Homophily 2. Social Network Constraints (founders constrained by opportunities of social contact) 3. Ecological Constraints (spacial distribution)}Generalist {Ans: = worked in a variety of roles + projects - less favored by VCs or firms bc less in-depth knowledge - more ppl to draw upon thus more novel ideas - good to have on team}What to do after you fail? {Ans: Figure out what went wrong + try something diff.}What is true genius composed of? {Ans: PRACTICE & Grit (persistence)}Why do people only