True or False? Design thinking is more about doing than talking.

a. True
b. False

What is the role of key success factors (KSF)? (Select all that apply.)

a. KSFs are the activities a business must do to be successful.

b. KSFs are the basis for hiring people who are diverse and may have different values.

c. The founder's goals and the KSFs must be congruent.

d. The company's performance is measured by its KSFs.

You may decide to outsource or enter into a strategic alliance under which circumstances? (Select all that apply.)

a. You don't want to handle manufacturing and assembly.

b. You have significant intellectual property that is your competitive advantage.

c. You need to bid for contracts against larger companies.

d. You want to maintain control of your business.

You should choose the best place to physically locate your business based on which of the following? (Select all that apply.)

a. You have the opportunity to receive incentives to locate there and you have to build a facility.

b. Where you currently live, because it's convenient.

c. Near your suppliers, because of the cost of transportation.

d. The location has cultural amenities that make it attractive for employees.

True or False? A specialty store will likely have a much wider trade area than a grocery store.

a. True
b. False

What is the difference between a wholesale site and a retail site?

a. Accessibility

b. A trade area of sufficient size

c. Attractiveness

d. An upscale experience

True or False? The advantage of a startup is that you get to create the culture you want.

a. True
b. False

Before putting out a call for a new employee, it is imperative that you do all of the following first, EXCEPT:

a. use executive search firms.

b. develop a job description.

c. look among your current employees first.

d. seek referrals from trusted people who know the business.

True or False? When you hire employees, it's important to give equity in the company to incentivize them and encourage commitment.

a. True
b. False

Some of the alternatives to giving equity in the company as compensation include which of the following? (Select all that apply.)

a. Deferred compensation plans

b. Stock options

c. Phantom stock

d. Bonus plans

e. Profit-sharing plans