The Savvy Entrepreneurial Firm Feature in Chapter 6 Focuses on Three

question 26

Multiple Choice

The Savvy Entrepreneurial Firm feature in Chapter 6 focuses on three companies: Songkick, GrubHub, and Instagram. The overarching point of the feature is ________.

• A) most business plans require major changes after the business is launched and the founders start getting customer feedback
• B) the degree to which business plans pan out as their founders envisioned varies
• C) most business plans require only minor changes after the business is launched and the founders start getting customer feedback
• D) the most effective business plans take four to eight weeks to complete
• E) most business plans are quickly discarded after the business is launched

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Definitions:

Real Culture

The actual behavior patterns, customs, and norms that characterize the everyday life of a society, as opposed to idealized cultural standards.

Ideal Culture

The values, norms, and behaviors that a culture professes to hold, often representing societal goals rather than actual practices.

Subculture

A group within a larger culture that has its own distinct values, practices, and beliefs.

Dominant Culture

The prevailing culture in a given society, which holds the majority of power and is widely accepted and practiced.