Questions and Answers of Entrepreneurship Theory Process Practice

Describe the contemporary methods of new venture evaluation: design methodology and the Lean Start-Up methodology.
What is the macro view of entrepreneurship?
What are the schools of thought that use the macro view of entrepreneurship?
What is the micro view of entrepreneurship?
What are the schools of thought that use the micro view of entrepreneurship?
What are the three specific types of displacement?
Describe the “framework of frameworks” approach to entrepreneurship.
Explain the predominance of new ventures in the economy.
Define a gazelle, and discuss its importance.
Paul Medwick is a commercial banker. In the past month, he has received loan applications from three entrepreneurs. All three have fledgling businesses with strong potential. However, Paul believes
What is entrepreneurial cognition, and how does it impact the mind-set of entrepreneurs? How does metacognition come into play here?
Is it true that most successful entrepreneurs have failed at some point in their business careers? Explain.
Describe factors associated with the entrepreneurial ego.
Ethics must be based more on a process than on a static code. What does this statement mean? Do you agree? Why or why not?
What is the concept of entrepreneurial motivation, and how has it been depicted?
When Southwest Airlines first taxied onto the runway of Dallas’s Love Field in 1971, industry gurus predicted it would be a short trip to bankruptcy for the Texas-based airline. But the first
What are two reasons that such a strong desire to develop corporate entrepreneurs has arisen in recent years?
What are some of the corporate obstacles that must be overcome to establish a corporate entrepreneurial environment?
What are some of the innovative principles identified by James Brian Quinn that companies need to establish?
What are five useful rules for innovation?
What are three advantages of developing a corporate entrepreneurial philosophy?
Identify the four key elements on which managers should concentrate to develop a corporate entrepreneurship strategy.
Explain the differences between radical and incremental innovation.
Identify the five specific entrepreneurial climate factors that organizations need to address in structuring their environment.
What are the roles of middle managers in corporate entrepreneurship? Be specific.
Not long ago, the average person was not aware of such delicacies as sushi and kiwi. Today, they flourish as accepted foods throughout the world. With that in mind, Susan Marring proposes a new
Define asocial entrepreneur.
Social enterprise can be classified into distinct categories. List some of the categories.
What are the forms of international alliances?
When entering the international marketplace, entrepreneurs should follow what five specific steps?
Explain the challenges involved in new-venture development.
During the past four months, George Vazquez has been putting together his plan for a new venture. George wants to open a pizzeria near the local university. The area has three pizza enterprises, but
List four major types of problems that new ventures confront.
Explain the traditional methods of new venture evaluation: profile analysis, feasibility criteria approach, and comprehensive feasibility method.
Explain the importance of establishing the legitimacy of a new venture.
Identify the three main pathways to entering business for a prospective entrepreneur.
Chris Wasserberg is a salesperson for a Fortune 100 firm. He has a bachelor’s degree in marketing and is one of the firm’s best salespeople. Chris will likely become a sales manager if he stays
What is the new-new approach to starting a new venture?How does this approach differ from a new-old approach?
Describe what dimensions the “Newness Framework” is based on.
What is meant by the term franchise?
How can a prospective franchisee evaluate a franchise opportunity? Explain.
When Joyce and Phil Abrams opened their bookstore one year ago, they estimated it would take them six months to break even. Because they had gone into the venture with enough capital to keep them
The Friendly Market is a large supermarket located in a city in the Southwest. “Friendly’s,” as it is popularly known, has more sales per square foot than any of its competitors because it
Why would a venture capitalist be more interested in buying a convertible debenture for $500,000 than lending the new business $500,000 at a 4 percent interest rate?
What is the objective of Regulation D?
If a person inherited $100,000 and decided to buy stock in a new venture through a private placement, how would Regulation D affect this investor?
How has crowdfunding changed the landscape of new-venture financing?
Some entrepreneurs do not like to seek new-venture financing because they feel that venture capitalists are greedy. In your opinion, is this true? Do these capitalists want too much?
Identify the legal forms available for entrepreneurs structuring their ventures: sole proprietorship, partnership, and corporation.
What is the ULPA? Describe it.
Explain the limited liability partnership.
What is a limited liability company?
Six months ago, Roberta O’Flynn opened a small office supply store. Roberta sells a wide range of general office merchandise, including numerous software packages, photocopying paper, printer
Following his graduation from an excellent university with a degree in music and entrepreneurship, Brian Wright was eager to launch a music-related business. Brian always enjoyed working with new
Which is of greater value to the entrepreneur, primary or secondary data? Why?
In your own words, what is market segmentation? What role do demographic and benefit variables play in the segmentation process?
Dennis Darby owns a small manufacturing firm that produces electronic components for use in helicopters. Most of his business is a result of military and aircraft manufacturer contracts, although 11
Describe how an operating budget is constructed.
Describe how a cash-flow budget is constructed.
Describe the internal rate of return method. When would an entrepreneur use this method? Why?
What is ratio analysis? How is horizontal analysis different from vertical analysis?
Pedro Santini has been a computer analyst for five years. In his spare time, he has developed a word processing software program that is more comprehensive and powerful than any on the market.
What are the five elements included in the marketing segment of a business plan?
Why should a business plan be updated?
Clayton Company has grown 115 percent in the past year and 600-plus percent in the past three years. A large portion of this growth is attributable to Jan Clayton’s philosophy of hiring the best
Does strategic planning really pay off for entrepreneurial ventures?
Comparing the entrepreneurial focus with the administrative focus involves five major areas of consideration. What are these areas?
Define the one-person-band syndrome.
Explain the concept of entrepreneurial leadership.
In the past, most people who wanted to get their foreign sports cars fixed had to turn to the dealer from which they had purchased the car. In recent years, however, auto repair shops that specialize
What are three of the contextual aspects that must be considered in an effective succession plan?
In what way can forcing events cause the replacement of an owner/manager?Cite three examples.