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CMA Final · Entrepreneurship and Startup · Entrepreneurial Skill Sets

A Jaipur handicraft startup's prototype of an online marketplace fails: buyers abandon carts because of high shipping charges. The founder, Anita, studies the abandonment data, reworks the pricing with flat shipping, and relaunches in two weeks. Which mindset does this response best illustrate?

This illustrates a growth mindset with resilience. Anita treats the failed prototype as feedback, analyses the abandonment data, changes the shipping pricing and relaunches quickly. She neither gives up nor ignores evidence, which is how entrepreneurs with a growth mindset respond to setbacks.

  1. AGrowth mindset with resilience, treating failure as feedbackCorrect
  2. BFixed mindset, treating the failure as proof of inability
  3. COverconfidence bias, ignoring customer data
  4. DRisk avoidance, abandoning the idea after the setback

Explanation

Anita uses data from the failure to improve and relaunches quickly, showing resilience and a growth mindset. A fixed mindset would treat the failure as final, and ignoring data would be overconfidence, which she does not do.

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