Question 1

Which of the following is not a source of legitimacy?&#10;A) Favorable location&#10;B) Known and understood business model&#10;C) Trade secrets&#10;D) Raising a down round

Accepted Answer

Raising a down round is not a source of legitimacy.

Question 2

What is an important shift in strategy that Box and its CEO Aaron Levie made?&#10;A) Expand storage offering to enterprises&#10;B) Partner with AWS to promote synergies with the company&#10;C) Raise money from PE firms rather than VC&#10;D) Cross-sell rather than upsell their services

Accepted Answer

Box shifted its strategy to expand its storage offering to enterprises, which helped the company grow its revenue and customer base.

Question 3

Scarcity is one of the principles of persuasion.

Accepted Answer

Scarcity is a principle of persuasion that suggests people are more likely to want something if they believe it is in limited supply or availability.

Question 4

People tend to respond to endorsements they trust. This is an example of the principle of:&#10;A) Liking&#10;B) Reciprocity&#10;C) Social proof&#10;D) Authority

Accepted Answer

Social proof is the principle that people tend to conform to the actions of others, especially when they are uncertain about what to do. In this case, people are more likely to respond to endorsements from people they trust because they believe that these people are credible and know what they are talking about.

Question 5

Who founded Celtel, the mobile phone services provider that targeted Africa on a pancontinental level?&#10;A) Mo Ibrahim&#10;B) Mo Farrah&#10;C) Hakeem Belo-Osagie&#10;D) Bharti Airtel

Accepted Answer

Mo Ibrahim founded Celtel, which was one of the first mobile phone companies to focus on providing services across Africa.

Question 6

Location advantages unique to that location cannot serve as a competitive advantage.

Accepted Answer

Location advantages unique to a specific location can indeed serve as a competitive advantage, as they may offer benefits such as access to resources, skilled labor, or proximity to markets that competitors in other locations do not have.

Question 7

Which of the following is the biggest center of entrepreneurial activity in India?&#10;A) Hyderabad&#10;B) Bangalore&#10;C) New Delhi&#10;D) Mumbai

Accepted Answer

Bangalore is known as the "Silicon Valley of India" and is home to many startups and technology companies.

Question 8

What is a cluster?&#10;A) Geographic concentration of interconnected companies&#10;B) Accelerator&#10;C) Incubator&#10;D) A founder's immediate connections

Accepted Answer

A cluster refers to a geographic concentration of interconnected companies, suppliers, and associated institutions in a particular field, which enhances productivity and innovation.

Question 9

What country boasts the highest density of startups in the world?&#10;A) Israel&#10;B) United States&#10;C) United Kingdom&#10;D) China

Accepted Answer

Israel is known for having the highest density of startups in the world, often referred to as the "Startup Nation" due to its large number of startups relative to its population size.

Question 10

Clusters promote both ________ and ________.&#10;A) fundraising, poaching&#10;B) recruiting, diversification&#10;C) efficiency, flexibility&#10;D) competition, cooperation

Accepted Answer

Clusters promote competition among businesses within the same industry, driving innovation and improvement, while also fostering cooperation through shared resources and knowledge.

Question 11

Silicon Valley has all the cluster characteristics that support innovation. This includes:&#10;A) VC friendly valuations&#10;B) International scale&#10;C) Rejection of globalization&#10;D) Attorneys

Accepted Answer

The answer of Silicon Valley has all the cluster characteristics...

Question 12

A layout is the geographic mapping of companies in a location.

Accepted Answer

The answer of A layout is the geographic mapping of...

Question 13

A new or emerging firm should try and focus on just a couple of elements of the value chain and outsource the rest.

Accepted Answer

The answer of A new or emerging firm should try...

Question 14

In a typical value chain, what comes before logistics and manufacturing?&#10;A) Marketing&#10;B) Sales and distribution&#10;C) Product design&#10;D) Service

Accepted Answer

The answer of In a typical value chain, what comes...

Question 15

Why would a company outsource?&#10;A) Easier administrative services&#10;B) Economy of scale&#10;C) Support globalization&#10;D) Disrupt the value chain

Accepted Answer

The answer of Why would a company outsource?&#10;A) Easier administrative...

Question 16

Why did Webvan fail?&#10;A) Flawed business model&#10;B) High margins&#10;C) Low overhead&#10;D) Insufficient funding

Accepted Answer

The answer of Why did Webvan fail?&#10;A) Flawed business model&#10;B)...

Question 17

What is the primary value provided by a virtual organization?&#10;A) Networking partners and agents&#10;B) Cluster dynamics&#10;C) Software as a service&#10;D) Monetary conversion

Accepted Answer

The answer of What is the primary value provided by...

Question 18

Virtual firms often encounter difficulty with building trust between companies.

Accepted Answer

The answer of Virtual firms often encounter difficulty with building...

Question 19

Which of the following is not a key characteristic of a new basic technology?&#10;A) Compatibility&#10;B) Reliability&#10;C) Ease of use&#10;D) Corporate governance

Accepted Answer

The answer of Which of the following is not a...

Question 20

Most of Cisco's acquisitions were made between ________ and ________.&#10;A) 2008, 2009&#10;B) 2001, 2002&#10;C) 1999, 2000&#10;D) 2013, 2014

Accepted Answer

The answer of Most of Cisco's acquisitions were made between...

Deck 13: Acquiring and Organizing Resources