Asked by Dominic Papiro on Feb 18, 2024
Verified
Which of the following best describes the purpose of a founding team?
A) to brainstorm business ideas,finding one that will be most profitable
B) to build and grow the company and provide economic and social returns
C) to fund the business and create its business structure
D) to finalize the business product or service
A) to brainstorm business ideas,finding one that will be most profitable
B) to build and grow the company and provide economic and social returns
C) to fund the business and create its business structure
D) to finalize the business product or service
Vesting
The concept of imposing equity forfeitures on cofounders over a certain period of time on a piecemeal basis should they not stay with the company.
- Understanding the importance of a founding team in the context of a business venture.
- Recognizing the role of a founding team in brainstorming and evaluating business ideas.
- Understanding the significance of building and growing a company for economic and social returns.
Verified Answer
MK
Madeline Kight
Feb 18, 2024
Final Answer :
B
Explanation :
The purpose of a founding team is to build and grow the company, and ultimately provide economic and social returns. While brainstorming business ideas may be a part of forming a founding team, it is not the sole purpose. Funding and creating the business structure may also be important aspects, but these are means to the ultimate end goal of building and growing a successful company. Finalizing the business product or service may fall under the purview of the founding team, but again, this is a means to the end of building a successful company.
Learning Objectives
- Understanding the importance of a founding team in the context of a business venture.
- Recognizing the role of a founding team in brainstorming and evaluating business ideas.
- Understanding the significance of building and growing a company for economic and social returns.
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