Define a PreMortem Exercise and discuss the steps taken to conduct such an exercise
What will be an ideal response?
A PreMortem Exercise is designed to expose vulnerabilities in planning. It uses mental simulation to identify the weaknesses of a plan and design ways to counter those problems. The steps are:
• Preparation
• Imagine a fiasco
• Generate reasons for failure
• Consolidate the lists of reasons for failure
• Revisit the plan
• Review the lists of concern and reasons for failure
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All of the following are reasons that new ventures fail due to product or market problems except:
A) assuming debt too early B) unclear business definition C) venture capital relationship problems D) initial undercapitalization
Which of the following is a financial derivative that derives value from specific insurable losses or from an index of values?
A) commodity futures contract B) corporate bond C) catastrophe bond D) insurance option