20 Questions
Which of the following is NOT a consequence of business failure?
Increased probability of future success
What is the biggest failure for a startup?
Forced sale
Which of the following is a common occurrence in entrepreneurship?
Pivot
What is the example of a startup that filed for bankruptcy in 2001?
Napster
What is one of the reasons startups fail after the growth stage?
Lack of skills to grow
What is the recommended approach for communication in startups?
Overcommunication
What must startups have in order to avoid going too broad or too narrow?
Certainty
What stage of startups may entrepreneurs have creative juice to get traction in the market?
Growth stage
What is the term used for a change in the direction of the business?
Pivot
What is the term used for the termination of a commercial organization?
Business failure
Which of the following is NOT a common emotion associated with failure?
Happiness
What is the main problem with feeling emotions related to failure?
Managing the emotions is the problem
What is one possible reason for individuals having a higher fear of failure?
Upbringing
What is one characteristic of individuals with a strong fear of failure?
Anxiety
What is one strategy for coping with failure mentioned in the text?
Separate personal feelings from facts
According to Jeff Bezos, what can good failures provide for a startup?
New knowledge
What is one way to build grit according to the text?
Commit to activities that enhance skills
What is one attribute of grit mentioned in the text?
Strength to recover from failure
Why should entrepreneurs embrace some forms of failure?
It is essential for personal growth
What is one benefit of studying the lessons learned from other entrepreneurs?
Saving time, money, and headaches
Test your knowledge on business failure and bankruptcy in this quiz. Learn about the causes and consequences of business failure and how it can impact the future of a venture.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
