Entrepreneurship Theory Process and Practice 9th edition Donald F. Kuratko - Solutions

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How does financial condition analysis differ from financial statement analysis?
How can we obtain information for financial condition analysis?
What are several alternative definitions for the total asset turnover ratios for governments?
How could one assess the quality of a government’s financial reporting?
What general problem must be addressed in doing ratio analysis for governmental financial condition analysis?
Do traditional solvency ratios adequately address financial condition analysis concerns?
The municipality of Lossburgh reported the following information about its pension fund in its CAFR, for the year ended June 30, 2013: Net Assets Held in Trust for Pension Benefits ........$ 445,802,812Total Benefits and Refunds ...............50,376,321Total Investment Income
Using Exhibit 14-1, prepare common size ratios for Smith City for its governmentalactivities.
Briefly describe the evolution of the term entrepreneurship.
What are the ten myths associated with entrepreneurship? Debunk each.
What is the process approach to entrepreneurship? In your answer, describe the dynamic states approach?
Describe the predominance of new ventures in the economy.
How have most net new jobs been created in the economy?
In the strategy formulation school of thought, what are the four types of strategies involved with unique elements? Give an example of each.
Define a gazelle and discuss its importance.
1. Is Summit Software a gazelle? Support your answer.2. What problems may Jim face owning such a fast-growing business?3. Are gazelles more important to the economy than traditional growth businesses? Why or why not?
What is “entrepreneurial cognition” and how does it impact the mind-set of entrepreneurs? Hoe does “met a cognition” come into play here?
Entrepreneurs have a tolerance for ambiguity, are calculated risk takers. And exude passion. What do these characteristics mean for any potential entrepreneur?
How should failure be dealt with by entrepreneurs? How does “grief” play a role in this process?
What are the four specific areas of risk that entrepreneurs face. Describe each.
A small pharmaceutical firm has just received permission from the Food and Drug Administration (FDA) to market its new ant cholesterol drug. Although the product has been tested for five years, management believes that serious side effects may still result from its use, and a warning to this effect
Explain the four distinct roles managers may take in rationalizing morally questionable acts “against the firm” or “on behalf of the firm.” Be complete in your answer.
Cal Whiting believes entrepreneurs need to address the importance of ethics in their organizations. However, in his own company he is unsure of where to begin because the entire area is unclear to him. What would you suggest? Where can he begin? What should he do? Be as practical as you can in your
What is the concept of entrepreneurial motivation?
Explain the concept of entrepreneurial persistence and how it is being examined.
Entrepreneurship has a “dark side.”What is meant by this statement? Be complete in your answer.
What are the four causes of stress among entrepreneurs? How can an entrepreneur deal with each of them?
Why do complex decisions often raise ethical considerations for the entrepreneur?
1. Which of the three applicants do you think comes closest to having the mindset of an ideal entrepreneur? Why?2. To which applicant would you recommend the bank lend money?(Assume each has asked for a loan of $50,000.)Defend your answer.3. Can these three entrepreneurs do anything to improve
1. Is the recommendation of the marketing vice president legal? Is it ethical? Why or why not?2. Would it be ethical if the firm used less expensive simulated fur but did not change its slogan of “A Friend for Life” and did not tell the buyer about the change in the production process? Why
In your own words, what is corporate entrepreneurship?
A number of corporations today are working to reengineer corporate thinking and encourage an innovative environment. What types of steps would you recommend? Offer at least three and explain each.
Why are innovation teams emerging as part of a new strategy for many corporations?
What are roles of middle managers in corporate entrepreneurship? Be specific.
Describe the elements that are involved in sustaining corporate entrepreneurship.
1. Describe some of the factors needed to reengineer corporate thinking that Southwest Airlines already exhibits.2. What specific elements of a corporate entrepreneurial strategy are apparent within Southwest Airlines?3. How was Herb Kelleher instrumental in structuring a climate conducive to
Outline a few of the current trends that illustrate the social entrepreneurship movement.
Describe the challenging boundaries involved with social enterprise.
What is ecopreneurship and how does ecovision play a role? Outline some specific recommendations for entrepreneurs to consider that promote environmental awareness.
Describe some of the powerful economic forces that are creating global expansion of entrepreneurship.
How does a joint venture work? What are the advantages of this arrangement? What are the disadvantages?
How does a licensing arrangement work? What are the advantages and disadvantages of such an arrangement?
Define social entrepreneur.
How would you describe sustainable entrepreneurship?
Explain the concepts of shared vision and triple bottom line.
What are Diaspora networks and why are they important for global entrepreneurs?
How do the following organizations impact international entrepreneurship: NAFTA; WTO; and the EU?
1. Is this a viable sustainable entrepreneurship concept? Why or why not? Be specific.2. How would this venture be viewed in terms of triple bottom line thinking?3. What would you recommend to Susan if she came to you for an investment?
1. What type of arrangement is Edgar using in his business dealings with the European firms? Be complete in your answer.2. Is the Japanese business proposal a joint venture? Why or why not? Would you recommend that Edgar accept it? Why or why not?3. If Edgar were looking for an alternative approach
Describe opportunity identification for the entrepreneur.
How is prior knowledge and learning important to the recognition of opportunities?
What are the major sources of innovative ideas? Explain and give an example of each.
What is the difference between an adaptor and an innovator?
What are four major components in the creative process?
What are the four steps involved in developing personal creativity?
What are the four major types of innovation?
Briefly describe each of the five major myths commonly associated with innovation.
Identify and describe five of the innovation principles.
In your own words, state what is meant by the term innovation.
1. In developing this product, how did the creative thinking process work? Describe what took place in each of the four steps.2. Why did the manager have Post-its sent to secretaries throughout the company? What was his objective in doing this?3. What type of innovation was this: invention,
Many entrepreneurs lack objectivity and have no real insight into the market. Why are these characteristics considered pitfalls of selecting new ventures?
Describe each of the five critical factors involved in the prestart-up and start-up phases of a new venture.
Identify and discuss two examples of managerial problems that can cause a venture to fail.
How can asking the right questions help an entrepreneur evaluate a new venture? What types of questions are involved?
Explain how a feasibility criteria approach works.
Explain how a comprehensive feasibility approach works.
Many entrepreneurs have a poor understanding of the finances associated with their new venture and/or have a venture that lacks uniqueness. Why are these characteristics considered pitfalls of selecting new ventures?
Identify and discuss three examples of product/market problems that can cause a venture to fail.
Describe the proposed failure prediction model for newly founded firms.
1. Is there any truth in the potential investor’s comment? Is the lack of uniqueness going to hurt George’s chances of success? Explain.2. If George were going to make his business venture unique, what steps might he take? Be complete in your answer.3. In addition to the uniqueness feature,
1. What happened? What mistake did Bill make in terms of the new venture?2. How could this problem have been prevented? Defend your answer.3. What lesson about new-venture assessment does this case provide? Be complete in your answer.
What is the new-new approach to starting a new venture? How does this approach differ from a new-old approach?
How can an individual who is thinking of going into business evaluate the financial picture of the enterprise? Use the methodology of Table to prepare your answer.
In addition to personal and financial issues, what other factors should the prospective owner be concerned with? Describe at least four.
What are the advantages of buying an ongoing business? Explain them.
In a franchising agreement, what is the franchisee often called on to do? What responsibility does the franchisor assume?
What are some of the major advantages of franchising? Cite and explain three.
What are some of the major disadvantages of franchising? Cite and explain at least two.
How can a prospective franchisee evaluate a franchise opportunity? Explain.
In evaluating whether or not to buy a franchise operation, the potential investor should ask a series of questions. What questions should the potential investor ask about the franchisor, the franchise, the market, and the potential investor (himself or herself)?
What are the advantages and disadvantages of franchising?
Identify the Franchise Disclosure Document. Explain why it is important in franchising.
What “right questions” need to be answered when deciding whether to buy a business?
How should a prospective buyer examine the assets of a company? Explain.
1. Is anything unique about Chris’s idea? Explain.2. What is the first thing he should do to follow up on his idea? Explain.3. When this is done, what else should Chris do? Outline a general course of action for him.
1. What is your appraisal of the situation? Does it look good or bad?2. Would you recommend that Arlene buy the franchise from the woman who has offered to sell? Why or why not?3. What would you recommend Arlene do now? Be complete in your answer.
Using Figure describe some of the sources of capital available to entrepreneurs, and discuss how they correlate to the varying levels of risk involved with each stage of theventure.
What are the benefits and drawbacks of equity and of debt financing? Briefly discuss both.
Is it easier or more difficult to get new-venture financing today? Why?
How would a venture capitalist use Figure to evaluate an investment? Use an illustration in your answer.
In a new-venture evaluation, what are the four stages through which a proposal typically goes? Describe each in detail.
An entrepreneur is in the process of contacting three different venture capitalists and asking each to evaluate her new business proposal. What questions should she be able to answer about each of the three?
An entrepreneur of a new venture has had no success in getting financing from formal venture capitalists. He now has decided to turn to the informal risk capital market. Who is in this market? How would you recommend the entrepreneur contact these individuals?
If a new venture has its choice between long-term debt and equity financing, which would you recommend? Why?
What are some of the advantages of going public? What are some of the disadvantages?
Identify and describe three objectives of venture capitalists.
Identify and describe four of the most common criteria venture capitalists use to evaluate a proposal.
1. Would a commercial banker be willing to lend money to the Abramses? How much? On what do you base your answer?2. Would this venture have any appeal for a venture capitalist? Why?3. If you were advising the Abramses, how would you recommend they go about seeking additional capital? Be complete in
1. What would be the benefits of raising the $3 million through a private placement? What would be the benefits of raising the money through a venture capitalist?2. Of the two above approaches, which would be best for Charles? Why?3. What would you recommend that Charles do now? Briefly outline a
In your own words, what is a patent? Of what value is a patent to an entrepreneur? What benefits does it provide?

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