In General, Successful Entrepreneurs

question 18

Multiple Choice

In general, successful entrepreneurs

• A) always start capital intensive businesses.
• B) create a powerful brand backed by an equally powerful product or service that dramatically improves the customer experience.
• C) typically try of offer new solutions that are 20 percent better than existing solutions.
• D) do not care about what competitors do in the marketplace.

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Definitions:

Milgram Experiment

A psychological experiment conducted by Stanley Milgram in the 1960s to study obedience to authority, where participants were instructed to administer electric shocks to another person.

Stanford University Prison Experiment

A psychological study conducted by Philip Zimbardo in 1971 at Stanford University, where students were assigned roles of prisoners and guards to explore the effects of perceived power.

Generalization

Drawing a conclusion about a certain characteristic of a population based on a sample from it.

Logical Support

The provision of reasons or evidence to justify a claim or argument.