Entrepreneurship Successfully Launching New Ventures 6th edition Bruce R. Barringer, R. Duane Ireland - Solutions

1. How large do you think a start-up needs to be to effectively take advantage of collaborative management programs? Along with full- and part-time employees, should companies include interns, freelancers, and virtual assistants on projects that use collaborative management programs? Why or why
What is a new-venture team?
1. In retrospect, Brinckerhoff believes that it would have been to Devver’s advantage to have had a business-oriented cofounder as part of Devver’s new-venture team. 2. Do you think the reverse is true? If two business people are set to launch a technology-oriented firm, do you think it’s to
What are the two potential pitfalls of using a team to start a firm?
What is the difference between inside and outside directors?
What are the three formal responsibilities of a board of directors?
Why do new ventures often turn to consultants for advice?
What is the purpose of SCORE?
What types of advice and counsel do SCORE volunteers provide?
Currently, Ann Schafer is a sales representative for The Pampered Chef, a direct sales organization which sells kitchen utensils and related products. Ann, who lives near Houston, Texas, is thinking about leaving her current job so she can open her own firm which she envisions as a combination
What are the three most common reasons most entrepreneurial ventures need to raise money in their early life?
1. In your opinion, what factors in the business environment encourage firms to partner to compete?2. What risks do small firms face when partnering with large, successful companies? What risks do large companies take when they rely on small firms as a source of innovation? 3. How might
What is the difference between equity funding and debt financing?
What are the most common sources of equity funding?
Describe the most common sources of debt financing.
What are the three most common sources of equity funding?
What is meant by the term venture capital? Where do venture capital firms get their money? What types of firms do venture capitalists commonly want to fund? Why?
Briefly describe the SBA’s 7(A) Loan Guaranty Program. Do most start-up firms qualify for an SBA guaranteed loan? Why or why not?
1. How does a start-up establish a “brand”? What do we learn from JCPenney’s miscues about the importance of branding?2. Although the concept of selecting a target market and establishing a unique position is not specifically mentioned in the feature, what do we learn about these two topics
1. What does this feature teach us about the importance of “crafting a unique market position” when launching a retail entrepreneurial venture?2. Spend some time looking at TrackShack’s website at www.trackshack.com. Make a list of the reasons that someone interested in running shoes might
1. How has Proactiv gone about establishing its brand? To what degree do you believe Proactiv is important in its customers’ lives?2. Discuss the things that Rodan and Fields learned, prior to meeting Guthy-Renker, that persuaded them that infomercials were the best way to sell Proactiv. If
What is a tagline? What is your favorite tagline? Why?
What is meant by the term brand equity?
What is a reference account? How can having a reference account help a new firm?
Reread the Opening Profile. After doing this, make a list of all the things that you think that Andrew Pohle, Jake Schaufeld, and Jordan Levy have done well in building an effective marketing program for Real Time Cases.
Read the “You Be the VC 11.2” feature that deals with Eatsa. What actions would you suggest that this firm take to develop a guerilla marketing campaign?
KaZAM, the company producing a bike that teaches kids how to ride without training wheels in a safe, enjoyable, and confidence-building manner, is the subject firm described in the “You Be the VC 9.2” feature (from Chapter 9). Reread that feature. What types of public relations activities, from
1. Briefly describe the difference between a provisional patent application and a utility patent application. If successful, which of the two applications awards an inventor a patent?2. Can a provisional patent application be filed for a design patent? Document your research to arrive at the
1. Identify the makerspace, FabLab, or TechShop that is located nearest you. Describe the equipment that is available and the program the facility offers.2. Why do you think companies are increasingly open to ideas from independent inventors?3. Find an idea submission site for a company not
1. If you were the owner or manager of a restaurant, would you have used Dishero’s service? Why or why not? 2. What, if anything, could Dishero’s co-founders have done in advance of launching the company to discern the level of sales to expect? Do you think Dishero had achieved
1. Select at least two other firms that you believe have crossed the chasm. Briefly summarize how the firms rolled out their products (or services) and what you believe their key steps were in successfully crossing the chasm.2. In contrast to question #1, list at least two start-ups with which you
Can most firms be classified as rapid-growth firms? Explain your answer.
1. Make a list of things that you think Airbnb did “right” in growing its business.2. Comment on the propensity of Airbnb’s founders to solicit customer feedback. Based on the information in the case, do you think they did it too often, not often enough, or just right? Is there anything
1. If a company sold a product that was trendy, such as teenage fashions, which of the fulfillment approaches would be the best choice? Explain your answer.2. If a company wanted to focus all of its energy on its core business, such as product sales and R&D, which of the approaches to order
What are the potential downsides to firm growth?
Is it possible for a firm to grow too fast? If so, what are the potential downsides?
What are the benefits of planning for growth?
What is adverse selection and how might it affect entrepreneurial firms?
Why is cash flow management such an important issue for a firm entering a period of rapid growth?
How do rapid growth firms deal with potential cash flow shortfalls?
Why is price stability such an important issue for a firm entering a period of rapid growth?
In what stage or stages of the organizational life cycle are capital constraints most prevalent?
Tracy Gibbons owns a sports apparel company in Columbia, SC. She just attended a seminar, where one of the speakers said, “Participating in business partnerships can help firms lessen the impact of the managerial capacity problem.” Tracy’s not sure what the speaker meant by that statement.
1. How is Warby Parker able to sell eye wear at such a low price?2. Explain the rationale behind Warby Parker’s omnichannel strategy. Provide an example of another company that is pursuing a similar strategy. On a scale of 1 to 10 (10 is high), how much potential does this strategy have for
1. Why do you think Hormel acquired Justin’s to add to the strength of its peanut and nut butter offerings and to add a product to its portfolio that appealed to a younger, more health-conscious consumer rather than creating a similar product from scratch in its own R&D labs?2. Why do you
What are some of the common reasons new products fail?
What is the difference between a licensor and a licensee?
What is the meaning of the term licensing? How can licensing be used to increase a firm’s revenues?
What is the purpose of a licensing agreement? What is attractive about a licensing agreement for those leading an entrepreneurial venture?
Over the past several years, why have strategic alliances and joint ventures become increasingly prevalent growth strategies for entrepreneurial firms?
How does a freemium business model work?
1. Prior to launching their firms, how could BlackJet, Ridejoy, and Neighborrow.com have better anticipated the issues that ultimately caused them to fail?2. In regard to putting together an effective business model, what can other peer-to-peer business model start-ups learn from the failure of
1. Given TOMS’ mission and the way its business model is constructed, would you characterize TOMS’ business model as a standard business model or a disruptive business model? What impact has TOMS’ business model had on socially-minded organizations?2. What revenue streams does TOMS have that
What is the best time for a firm to develop its business model?
What are the four major categories that comprise the Barringer/Ireland Business Model Template?
Why do most entrepreneurial firms initially choose to compete within a narrow target market?
What is a company’s product/market scope?
Why are the resources a firm possesses a critical part of its business model?
How many core competencies do most start-ups have?
What are a firm’s key assets?
What is a revenue stream and why is it so important to a firm’s short- and long-term success?
How do fixed costs differ from variable costs?
What are the primary elements of the Operations component of the Barringer/Ireland Business Model Template?
What are some common advantages that accrue to a firm as a result of partnering with other companies?
Naomi Stephenson plans to open a company that will design and manufacture accessories for smartphones. She has read that having a clearly articulated business model will help “all of the elements of her business fit together.” Naomi isn’t quite certain she believes this statement. If Naomi
Spend some time looking at Wonder Workshop, the focus of the “You Be the VC 3.2” feature. What are five actions this firm could have taken when completing its feasibility analysis that would have been particularly helpful in supporting its business model?
Twitter (http://twitter.com) is a free networking and micro-blogging service that allows its users to send and read other users’ updates, called “tweets.” This business model continues to be criticized for not being viable in the long-term. Spend some time studying how Twitter does business.
Debra McGahan, a close friend of yours, mentioned to you that to complete a project in one of the courses she is taking this semester, she needs to describe a firm that is using an effective business model. Your immediate response is to recall that you just read this chapter and learned about
Re-read the opening profile about IndieU. What are the most significant threats to this firm’s currently successful business model? What actions should the firm take to successfully deal with the threats you identified?
1. How has Panera Bread established a unique position in the restaurant industry?2. How has Panera Bread’s unique position in the restaurant industry contributed to the firm’s success?3. What barriers to entry has Panera Bread created for potential competitors?4. What are Panera Bread’s
1. To what degree do you think Casper has disrupted the mattress industry? To what degree did Casper’s research about the mattress buying process resonate with you? Would you buy a Casper mattress? Why or why not?2. How has Casper established a unique position in the mattress industry? To what
1. Pick an industry in which you have an interest. Make a list of the premier trade associations, trade shows, and trade journals associated with the industry.2. How can an entrepreneur assess whether offering to serve in a leadership capacity in a trade association, on a volunteer basis, will be
How does the bargaining power of buyers have the potential to suppress an industry’s profitability?
How does the bargaining power of suppliers have the potential to suppress an industry’s profitability?
What are the four primary categories of environmental trends?
What are the characteristics of a fragmented industry and why are these important for entrepreneurs?
What is the primary opportunity for new firms in fragmented industries?
What are the characteristics of a mature industry?
What is the primary opportunity for new firms in a mature industry?
1. What are the advantages of showing rough prototypes to potential customers, like those produced for Step 1 and Step 2, rather than showing them a well-developed prototype to begin with?2. Make a list of the things the inventor of the new toaster in the feature might learn as a result of the
What is a product/service feasibility analysis?
What is a concept statement?
What are the two ways that entrepreneurs assess the likely product demand for the proposed product or service they are analyzing?
What are the two primary issues to consider when conducting an organizational feasibility analysis?
What is a new-venture team?
What is financial feasibility analysis?
1. As part of your college experience, do you think you would benefit from participating in a campus ambassador or campus rep program? Why or why not?2. In what ways would participating in a campus ambassador or campus rep program help you prepare to own your own business someday?3. Why do you
What are the three main attributes of firms that pursue high levels of corporate entrepreneurship?
Of the three primary reasons people become entrepreneurs, which one is given most commonly and why?
What is it about “tenacity” that makes it such an important characteristic for entrepreneurs?
What is the evidence that debunks the myth that entrepreneurs are born, not made?
After rereading the opening case, identify all of the effective or smart moves Kirsten Blowers made in the early days of building Riffraff.
What is a product opportunity gap?
What is an opportunity?
What is meant by the term opportunity recognition?
In what ways does prior industry experience provide an entrepreneur an advantage in recognizing business opportunities?
How does creativity contribute to the opportunity recognition process?
Why is “no criticism” the number-one rule for brainstorming?
What is the purpose of day-in-the-life research?
How could Jamie Heywood and Ben Heywood, the co-founders of Patients Like Me, the subject of case 1.2 in Chapter 1, have utilized library and Internet research to flesh out their business idea?

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Entrepreneurship Successfully Launching New Ventures 6th edition Bruce R. Barringer, R. Duane Ireland - Solutions

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