According to the Textbook, Two of the Most Important Factors

question 13

Multiple Choice

According to the textbook, two of the most important factors to consider regarding "management prowess" are ________.

• A) the passion the sole entrepreneur or the management team has for the business idea and the extent to which the management team or sole entrepreneur understands the markets in which the firm will participate
• B) whether the members of the management team have worked successfully together before and the passion the sole entrepreneur or the management team has for the business idea
• C) whether the members of the management team are good "networkers" and the extent to which the management team or sole entrepreneur understands the markets in which the firm will participate
• D) the educational and functional backgrounds of the management team or sole entrepreneur
• E) whether the members of the management team are good "networkers" and the passion the sole entrepreneur or the management team has for the business idea

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Definitions:

P(B)

Symbolically represents the probability of occurrence of event B in a statistical context.

Collectively Exhaustive

A term used to describe a set of events that covers all possible outcomes of an experiment.

P(A)

The probability of event A occurring in a given sample space, representing the likelihood of a specific outcome.

Collectively Exhaustive

A condition where all possible outcomes or cases are considered together, covering every eventuality.