Entrepreneurship Theory Process And Practice 4th Edition Donald F. Kuratko - Solutions

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Are there any novel or innovative entrepreneurship competitions at your university (see Table 16.1)?
Under what circumstances would you suggest simply skipping a business plan, and instead developing a lean canvas?
Pick a company or industry sector that you know. Can you describe which risks in Table 16.4 would apply to it? What other risks can you name?
Which are the top ‘deal-killers’ in Table 16.2 ‘Common business plan phrases – statement versus reality’?
Identify five guidelines that you would like to use when preparing a business plan.
What are some of the components to consider in the proper packaging of a plan?
What are the three major viewpoints to be considered when developing a business plan? Describe how they can conflict.
What are the different meanings of sustainability in business planning? Is there a preferred definition in the twenty-first century?
What do you believe the difference is between a ‘regular’ business plan and a ‘sustainable’ business plan?
Name and describe three types of sustainability performance measures.
What do we mean by triple bottom line accounting? What are its key components and how are they interlinked?
When would an entrepreneur be interested in break-even analysis? Explain how fixed, variable and mixed costs are used in the calculation of the break-even analysis.
Describe the net present value method. When would an entrepreneur use this method? Why? Make up an example similar to the entrepreneur featured in the Entrepreneurship in Practice box entitled, ‘The Indian entrepreneur and the cunning NPV’.
What are the benefits of the budgeting process?
Describe the purpose of each of the balance sheet, income statement and cash flow statement. Why are these three statements of accounts important for an entrepreneur to understand? Explain in detail.
What do we mean by performance measures? What are the traditional ones? Why do we need to look beyond these now?
Of all the sources of entrepreneurial capital, which is ideal? Why?
Look at the sources of natural capital listed in Table 14.11. Which can your business idea not do without?
What is natural capital and why do you think it has been excluded from consideration as entrepreneurial capital in the past?
Why would you go to crowd funders to get your business off the ground?
What is the difference between social lending, halal finance, green investment and ethical investment, if at all?
Why do some entrepreneurs need micro-credit?
What is the difference between halal and haram? What practices are forbidden in Islamic businesses?
Which source of Islamic finance is most like venture capital? Which form would you most like to score?
How would you describe the typical business angel?
In a new-venture evaluation, what are the four stages through which a proposal typically goes? Describe each in detail.
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 ROI?
Using Figure 14.3 (funding stages), where does your present business idea fit in?
What are some of the advantages of going public? What are some of the disadvantages?
How has the venture capital market changed in your country since the GFC?
Why would a start-up company today delay outside investment and build as much value as possible into the business before seeking outside investment?
Identify and describe four types of debt financing. Which would you use?
What are the benefits and drawbacks of equity and of debt financing? Are you personally qualified for a bank loan?
What are some special considerations in approaching the 4Fs for entrepreneurial capital?
What are the 4Fs and can you identify 4F investors that you know?
How widespread is informal investing in your country?
Can you think of any more bootstrapping strategies?
What are the strategies to get money from your family? What must you watch out for?
Using Figure 14.2, 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 the venture.
What are the five forms of entrepreneurial capital? Give examples of each that are not described in the book.
What do you foresee in terms of future environmental regulations that will undoubtedly affect entrepreneurial ventures?
What impact has the Kyoto Protocol had on entrepreneurs and how has the Paris meeting of the UN Framework Convention on Climate Change in 2015 altered, extended or otherwise amended the Kyoto Protocol?
What was the first (and perhaps) the most successful global environmental regulation?
Give your own examples of rogue states or overseas havens when it comes to intellectual property rights protection.
What is a proprietary limited (Pty Ltd) company and why would an entrepreneur choose to adopt this legal form of entity over being a sole trader? What is the equivalent form of the Pty Ltd company in Singapore, Malaysia and India?
How does a limited partnership work? Give an example.
Explain the limited liability partnership.
Name three specific types of partners. How do they differ?
What are the specific advantages and disadvantages associated with each primary legal form of organisation?
Define each of the following: sole tradership, partnership and corporation.
Discuss how the choice of legal form of the business entity may be influenced by being a social entrepreneur.
What are trade secrets? Why has Coca-Cola benefited from protecting its formula through trade secret rather than patenting the formula?
What is a domain name? Give some examples of interesting cases of domain name infringement.
When might a trademark be invalidated? Explain.
In your own words, what is a trademark? Why are generic or descriptive names or words not given trademarks?
How much protection does copyright afford the owner? Can any of the individual’s work be copied without paying a fee?Explain in detail. If an infringement of copyright occurs, what legal recourse does the owner have?
In your own words, what is copyright? What benefits does copyright provide?
Explain why an entrepreneur might decide against patenting as a protection strategy and briefly describe the potential consequences of such a decision.
When can a patent be declared invalid? Cite two examples.
What are seven basic rules entrepreneurs should remember about securing a patent?
In your own words, what is a patent? Of what value is a patent to an entrepreneur? What benefits does it provide?
Briefly discuss how the decision to start a business in different countries may be affected by the local legal and regulatory environment.
Are importing social entrepreneurs different from business-oriented importers? If so, give some examples.
Name three global entrepreneurship research topics that you would like to undertake.
Do you feel part of an ethnic network? If so, how would you maximise it for entrepreneurial advantage? What are the top ethnic entrepreneurial networks in your community?
Would you go into a franchise in China after reading the Entrepreneurship in practice box, ‘The pros and cons of franchising in China’?
How does a licensing arrangement work? What are the advantages and disadvantages of such an arrangement?
How can a company make a direct foreign investment?
How does a joint venture work? What are the advantages of this arrangement? What are the disadvantages?
Of what value are an export management company and a freight forwarder to entrepreneurs who are seeking to export goods?
Which of the ‘X-shoring’ methods would you use for a call centre? Which for a manufacturer of plastic playgrounds?Which for an IT company?
How can an entrepreneur become aware of import opportunities?
What are the main motivations for going global?
What is a ‘born-global’ firm? Name three born-global companies that you know.
Of the countries mentioned in the first section in this chapter, which, in your opinion, have the best chances of being successful in the global marketplace? Which have little chance to succeed entrepreneurially? On which measures of the charts in Figure 12.1 are you making your judgement?
What is the Natural Step Funnel? Make up examples that backcast from the future.
What are three ways of planning for a sustainable business?
Explain the concept of entrepreneurial leadership.
Explain the advantages and disadvantages of the size distinctiveness of entrepreneurial firms.
Identify five unique managerial concerns of growing businesses.
What is meant by managing paradox and contradiction?
Identify and describe the four key factors that need to be considered during the growth stage.
Comparing the entrepreneurial focus with the administrative focus involves five major areas of consideration. What are these areas?
Define a business model and describe the three perspectives that are embedded in its definition. What are the elements of the business model that drive each of these perspectives and what is central to all the elements?
How can entrepreneurs build an adaptive firm?
What strategic approach can a new firm take to avoid having to confront powerful competitors? Explain the two key insights needed to adopt this approach to strategy.
Briefly identify and describe the stages of development for a new venture.
Explain the five fatal flaws of strategic planning for an entrepreneur and outline how an entrepreneur can avoid these.
Give three reasons why many entrepreneurs fail to formulate strategic plans.
Describe the entrepreneurial strategy process. What are the four major elements of the process and what does each entail?
In what way does an entrepreneur’s vision affect the company’s strategic plan?
Name two forms of customisation and explain how customisation influences a pricing strategy.
What are some of the major environmental factors that affect pricing strategies? What are some of the major psychological factors that affect pricing? Identify and discuss three of each.
There are three important distinctions to be drawn between social media marketing and traditional marketing. What are they and how do they differ?
Describe six segments of online shoppers by their online behavioural characteristics.
Describe several different methods of Internet marketing. Give examples.
When developing a marketing plan, what are the five steps that are particularly helpful? Identify and describe each.
market related questions that are typical to ask an entrepreneur that direct attention to gaps in market intelligence. Consider the areas of sales, distribution, markets, advertising and product.
Provide a set of
How does the way that consumers view a venture’s product or service affect strategy? For example, why would it make a difference to the entrepreneur’s strategy if the consumers viewed the company as selling a convenience good as opposed to a luxury good?

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