ENTR 302 Chapter 9: Developing Networks and Building Teams

In order to build networks that will enable you to achieve more, one must build networks with people ______.

• who share your profession

• in your industry

• that focus on investors

• who have similar values

What is social capital?

• A personal social network of people who willingly cooperate and build trusting relationships.

• Anyone with whom you connect on social networks, whether online or in real life.

• The skills and knowledge that comprise who are and what we know.

• The people with whom you have contact with in your working life.

Which dimension of social capital refers to the type of social ties you have or don’t have and the degree to which those ties may be formal or informal?

• relational

• structural

• dimensional

• cognitive

According to the Organization for Economic Cooperation and Development (OECD), connections with people who come from different backgrounds and cultures would be called which of the following?

• familial

• bonds

• bridges

• structural

Lonney attends a company picnic. Although most of the people in his company are older and come from different backgrounds, he feels it is important to go since they all work together. Lonney is acknowledging which of the following aspects of building social capital?

• tethers

• bonds

• bridges

• ties

The decline of the community networks that used to be so prevalent has led to a loss of ______.

• employee recruitment

• social volunteerism

• professional opportunities

• social capital

What are the three main advantages to networks?

• more contacts, information, and ideas

• private information, power, and diverse skillsets

• sales, contacts, and supporters

• supporters, sales, and business partners

To what does the term “diverse skillsets” refer, as related to social networks?

• the skills necessary for the production of your product

• the full scope of skills required for the delivery of your service

• people with different perspectives, skills, information, and backgrounds

• people in other professions

According to research studies, which factor was reported as the most important factor to new venture success?

• uniqueness of the product or service to fulfill a customer need

• financial support to help the company through the initial years

• lead entrepreneur and quality of the team

• size of the lead entrepreneurs’ network

What conversational stance does a good networker take?

• Generally takes the lead in the conversation.

• Actively listens, leaning forward, and mirroring the speaker’s gestures.

• Tends to join the larger group where more people can hear their message.

• Will listen at first, then turn the conversation to their entrepreneurial goal.