MHR 322 exam 2 Ques ons and answers Newest RATED
A+ 2025/2026 NEWEST RATED A+
According to the Partnership Charter by Gage, synergy can be a valuable outcome of a
partnership because - Ans it pods strengths and expands possibili es
T or F: According to the Founder's Dilemmas by Wasserman, entrepreneurs should chose
cofounders from family and friends because there is already a basis of trust and comfort with
those people - Ans False
According to the Founder's Dilemmas by Wasserman, entrepreneurs tend to be solo founders
(whether it is a good idea or not) when the following are true EXCEPT:
A) the founder wants to keep all the equity and control all the decision-making
B) the entrepreneur has many of the resources needed to found the startup
C) the venture will need to raise capital
D) there is li,le need for the startup to grow quickly - Ans C) the venture will need to raise
capital
According to the Partnership Charter by Gage, one of the best reasons to start a company with
partners is - Ans partnerships allow people to exploit opportuni es more quickly
According to the Founder's Dilemma by Wasserman, an entrepreneur may have the necessary
skills and capabili es but might chose to bring on a co-founder anyway to do jobs she doesn't
want to do herself. This refers to the entrepreneur's - Ans task preferences
According to the Founder's Dilemma by Wasserman, an entrepreneur may bring on cofounders
for a sense of affilia on and psychological encouragement. This refers to the entrepreneur's
interest in: - Ans support and valida on
,collabora ve style
T or F: According to the Founder's Dilemmas by Wasserman, founding a startup is almost
guaranteed to be more work than the founder imagines - Ans True
T or F: According to the Partnership Charter by Gage, for some people having a business
partner is simply more fun than star ng and owning a business alone - Ans True
In the Partnership Charter, Gage iden fies key ques ons to ask if you are thinking about taking
on a partner. Which of the following is NOT one of those ques ons?
a) why do you want to have a partner?
b) why do you want to own a business?
c) who is the best possible partner for you?
d) is the person you are choosing the best partner for you?
e) are there be,er alterna ves than taking on a partner? - Ans c) who is the best possible
partner for you?
In the StartupSOS video on the Milkshake example, what key ques on informs assessing the
Value Proposi on? - Ans What job does a fast food restaurant customer hire a milkshake to do?
T or F: the power of the Value Proposi on Canvas is that it helps ensure that your product
features and capabili es target all of a customer's poten al gains and pains. - Ans False
The Value Proposi on Canvas is composed of two parts: - Ans The customer profile and the
value map
T or F: One of the lessons of the "Milkshake Example" is that all fast-food customers buy a
milkshake based on roughly the same value proposi on - Ans False
, According to Strategyzer's Value Proposi on video, what ra o of new innova ons / products fail
to succeed? - Ans About 7 out of 10
A full life cycle use case iden fies - Ans How the user acquires and uses your product and
determines whether to purchase it again
T or F: To generate a high-level specifica on of your product, you should start with a detailed
wri,en descrip on that iden fies key features and func ons - Ans False
T or F: A quan fiable value proposi on foes into detail on technology, features, and func ons -
Ans False
T or F: to formulate your quan fied value prop, compare the "possible" state (customer uses
your product) to the "as-is" state (current customer use/ behavior) to show a different in
measurable value - Ans True
The point of iden fying and interviewing 10 high-poten al customer is to - Ans directly test
every hypothesis you have built about the opportunity
T or F: one possible result of interviewing 10 high poten al customers is discovering that there
is a be,er Persona for your product than you previously iden fied - Ans True
T or F: According to the Partnership Charter by Gage, entrepreneurs who are less than candid
about what they want and expect from their business partners are doing everyone a disservice -
Ans True
T or F: According to the Founder's Dilemma by Wasserman, the short-run benefit of
homogenous (similar backgrounds/experience) teams is outweighed by the long-term benefits
of teams with diverse experience and perspec ves - Ans True
, According to the Founder's dilemmas by Wasserman, an entrepreneur should be a solo founder
when: - Ans the entrepreneur has most of the key resources needed and prefers to work alone
According to the Partnership Charter by Gage, which of the following is NOT a likely case of
conflict among entrepreneurial partners?
A) lost revenue if a partner leaves
B) the cost of retaining partners to perform different jobs
C) the cost of media on, arbitra on, or li ga on
D) lost produc vity associated with bringing on new employees or partners
E) the cost of recrui ng new people or partners - Ans B) the cost of retaining partners to
perform different jobs
According to the Partnership Charter by Gage, which of the following is good advice for
business people or entrepreneurs looking for poten al partners? - Ans if you think you aren't
good partner material, you are probably right
T or F: According to The Partnership Charter by Gage, legal documents can keep you out of
trouble with your business parter - Ans False
T or F: According to the Founder's Dilemmas by Wasserman, in the short-term, homogenous
founding teams oAen do well, but diverse founding teams tend to do be,er in the long-run -
Ans True
According to the Partnership Charter by Gage, the poten al disadvantages of a partnership
include all of the following EXCEPT:
A) Partnerships can be hard tog et out of
B) the costs of a failed partnership can be enormous
C) Partners might find they have too much to do to also be able to coordinate their ac vi es
A+ 2025/2026 NEWEST RATED A+
According to the Partnership Charter by Gage, synergy can be a valuable outcome of a
partnership because - Ans it pods strengths and expands possibili es
T or F: According to the Founder's Dilemmas by Wasserman, entrepreneurs should chose
cofounders from family and friends because there is already a basis of trust and comfort with
those people - Ans False
According to the Founder's Dilemmas by Wasserman, entrepreneurs tend to be solo founders
(whether it is a good idea or not) when the following are true EXCEPT:
A) the founder wants to keep all the equity and control all the decision-making
B) the entrepreneur has many of the resources needed to found the startup
C) the venture will need to raise capital
D) there is li,le need for the startup to grow quickly - Ans C) the venture will need to raise
capital
According to the Partnership Charter by Gage, one of the best reasons to start a company with
partners is - Ans partnerships allow people to exploit opportuni es more quickly
According to the Founder's Dilemma by Wasserman, an entrepreneur may have the necessary
skills and capabili es but might chose to bring on a co-founder anyway to do jobs she doesn't
want to do herself. This refers to the entrepreneur's - Ans task preferences
According to the Founder's Dilemma by Wasserman, an entrepreneur may bring on cofounders
for a sense of affilia on and psychological encouragement. This refers to the entrepreneur's
interest in: - Ans support and valida on
,collabora ve style
T or F: According to the Founder's Dilemmas by Wasserman, founding a startup is almost
guaranteed to be more work than the founder imagines - Ans True
T or F: According to the Partnership Charter by Gage, for some people having a business
partner is simply more fun than star ng and owning a business alone - Ans True
In the Partnership Charter, Gage iden fies key ques ons to ask if you are thinking about taking
on a partner. Which of the following is NOT one of those ques ons?
a) why do you want to have a partner?
b) why do you want to own a business?
c) who is the best possible partner for you?
d) is the person you are choosing the best partner for you?
e) are there be,er alterna ves than taking on a partner? - Ans c) who is the best possible
partner for you?
In the StartupSOS video on the Milkshake example, what key ques on informs assessing the
Value Proposi on? - Ans What job does a fast food restaurant customer hire a milkshake to do?
T or F: the power of the Value Proposi on Canvas is that it helps ensure that your product
features and capabili es target all of a customer's poten al gains and pains. - Ans False
The Value Proposi on Canvas is composed of two parts: - Ans The customer profile and the
value map
T or F: One of the lessons of the "Milkshake Example" is that all fast-food customers buy a
milkshake based on roughly the same value proposi on - Ans False
, According to Strategyzer's Value Proposi on video, what ra o of new innova ons / products fail
to succeed? - Ans About 7 out of 10
A full life cycle use case iden fies - Ans How the user acquires and uses your product and
determines whether to purchase it again
T or F: To generate a high-level specifica on of your product, you should start with a detailed
wri,en descrip on that iden fies key features and func ons - Ans False
T or F: A quan fiable value proposi on foes into detail on technology, features, and func ons -
Ans False
T or F: to formulate your quan fied value prop, compare the "possible" state (customer uses
your product) to the "as-is" state (current customer use/ behavior) to show a different in
measurable value - Ans True
The point of iden fying and interviewing 10 high-poten al customer is to - Ans directly test
every hypothesis you have built about the opportunity
T or F: one possible result of interviewing 10 high poten al customers is discovering that there
is a be,er Persona for your product than you previously iden fied - Ans True
T or F: According to the Partnership Charter by Gage, entrepreneurs who are less than candid
about what they want and expect from their business partners are doing everyone a disservice -
Ans True
T or F: According to the Founder's Dilemma by Wasserman, the short-run benefit of
homogenous (similar backgrounds/experience) teams is outweighed by the long-term benefits
of teams with diverse experience and perspec ves - Ans True
, According to the Founder's dilemmas by Wasserman, an entrepreneur should be a solo founder
when: - Ans the entrepreneur has most of the key resources needed and prefers to work alone
According to the Partnership Charter by Gage, which of the following is NOT a likely case of
conflict among entrepreneurial partners?
A) lost revenue if a partner leaves
B) the cost of retaining partners to perform different jobs
C) the cost of media on, arbitra on, or li ga on
D) lost produc vity associated with bringing on new employees or partners
E) the cost of recrui ng new people or partners - Ans B) the cost of retaining partners to
perform different jobs
According to the Partnership Charter by Gage, which of the following is good advice for
business people or entrepreneurs looking for poten al partners? - Ans if you think you aren't
good partner material, you are probably right
T or F: According to The Partnership Charter by Gage, legal documents can keep you out of
trouble with your business parter - Ans False
T or F: According to the Founder's Dilemmas by Wasserman, in the short-term, homogenous
founding teams oAen do well, but diverse founding teams tend to do be,er in the long-run -
Ans True
According to the Partnership Charter by Gage, the poten al disadvantages of a partnership
include all of the following EXCEPT:
A) Partnerships can be hard tog et out of
B) the costs of a failed partnership can be enormous
C) Partners might find they have too much to do to also be able to coordinate their ac vi es
