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entrepreneurship theory process practice
Entrepreneurship Theory Process And Practice 5th Edition Donald F. Kuratko, Richard M. Hodgetts - Solutions
Were you daring or adventuresome as a child? If so, add four more.
Caution may involve an unwillingness to take risks, a handicap for those embarking on previously uncharted territory. Were you a cautious youngster? If so, deduct four. If not, add four.
Stubbornness as a child seems to translate into determination to do things one’s own way – a hallmark of proven entrepreneurs. If you were stubborn as a child, add one. If not, subtract one.
Enterprise can usually be traced to an early age. Did you start an enterprise during childhood – lemonade stands, family newspapers, greeting card sales – or run for elected office at school? If so, add two. If not, subtract two.
Studies of entrepreneurs show that, as youngsters, they often preferred to be alone. Did you prefer to be alone as a youngster? If so, add one. If not, subtract one.
Entrepreneurs are not especially enthusiastic about participating in group activities in school. If you enjoyed group activities – clubs, team sports, double dates – subtract one. If not, add one.
Successful entrepreneurs are not, as a rule, top achievers in school. If you were a top student, subtract four. If not, add four.
Significantly high numbers of entrepreneurs are children of first-generation immigrants. If your parents immigrated to your country, score one. If not, score minus one.
Describe how private, corporate and public-sector entrepreneurs may differ in at least three common dimensions.
Name and describe at least five tactics an organisation might apply that signal an intrapreneurial philosophy.
What are five questions that can be applied to test whether an organisation is intrapreneurial?
How does re-engineering an organisation differ to the intrapreneurship pathway?
What is intrapreneurship and why is it becoming increasingly important for large organisations?
Why would some describe entrepreneurship in large organisations as an oxymoron?
What does the term ‘transgenerational entrepreneurship’ mean and what are the five elements that influence this phenomenon?
Family businesses are not all small. Research and list at least five family businesses in your country that are household names. What do they do and what generation of management is currently heading the business?
When buying an established business, what protections can be put into place to keep the staff and to ensure the executive team that leaves does not open a competing business?
How does purchasing a franchise differ to buying an established business? What limitations does buying a franchise place on an entrepreneur?
What are the advantages of buying an ongoing business? Explain them.
What are the two major risks that confront a new venture start-up that can be avoided by purchasing an established business?
Not all entrepreneurs start just with an idea and little else. Name three other pathways into entrepreneurship and describe the advantages of each.
How does a new-old approach differ from the new-new pathway to starting a new venture and what are the advantages of the new-old approach?
How does the new-new approach to starting a new venture differ from bootstrapping? Provide examples for your answer.
What has given rise to minipreneurs and what kinds of businesses are they engaged in?
What are some examples of bootstrapping that you could use in your business idea?
What features distinguish a social venture from a conventional business and what would motivate an entrepreneur to take this pathway?
Discuss how personal preferences may influence the type of entrepreneurial pathway an entrepreneur may choose.
What are the physical places or technology fields in the twenty-first century that may parallel setting sail to a distant land in the nineteenth century? Using the story as an analogy, what hazards may face the pioneering entrepreneur?
What lessons could be drawn from this case for pioneering entrepreneurs today? What would be the moral to this story?
Should history judge Boyd as a failed entrepreneur? If so, was failure due to his own devices or was he a victim of circumstances?
Referring to the discussion of traits in Chapter 2, was Boyd’s irrepressible optimism actually just bloody-minded ignorance?
Given the mores of the time, was Boyd an ethical entrepreneur?
Consider such things as natural resources, labour, money and social pressures and discuss the points that undermined the sustainability of Boyd’s various ventures.
How would you describe or define the opportunity that attracted the entrepreneur Benjamin Boyd to venture to Australia? Was the idea well grounded?
Which statement do you agree with:a Entrepreneurs are destroyers, so it follows that the business activities of entrepreneurs must be severely regulated and that someone must be empowered to do the constraining.b Entrepreneurs are a creative force – we invent resources and improve the world —
Would you support sending a rocket into space, spreading a few million tonnes of sulphur dioxide particles, and cooling the Earth that way?
Would you agree with Michael Specter of the The New Yorker magazine that Russ George is a geo-vigilante? Or do you believe that humans do much worse than this every day and so doing something positive is ethical?
Each group should present their code of ethics to the class and discuss major outcomes of their discussion.
Members of the group should then role-play the process of handling an ethical issue with a customer, with a supplier, with a competitor and with the son of the owner. Discuss the results of the role-playing exercise.If necessary you may want to modify your code of ethics at this time.
List as many ethical problems as possible that might be faced by employees during a normal work day.Discuss possible solutions for the problems. Consider how a procedure guide might help employees to make the best decisions.
Discuss policies and procedures appropriate for this business that would support the code of ethics.
Develop a 10-point code of ethics for the business.
Identify problems the entrepreneur might encounter in running this business in an ethical manner.
Describe ecopreneurship and think of three real-life examples.
What are the elements of a definition of Indigenous peoples?
What are the barriers and restraints that disadvantaged entrepreneurs face?
What are some of the advantages that differently-abled entrepreneurs might have?
Is it possible that disadvantaged people can actually become more entrepreneurial than other people?
What is social marginality theory?
Do you have experience in dealing with an entrepreneurial criminal?
What are your opinions on the issues of greed and entrepreneurial crime?
As an Australian or a New Zealander, would you pay bribes while doing business in China?
Why does doing business in certain Asian countries raise ethical considerations for the entrepreneur?
A small security company has developed an anti-home invasion app. Although the product has been tested for five years, the technical director points out that the app is susceptible to WiFi hacking. The cash-strapped entrepreneur wants to release the product and use revenue to fix the flaw. Would
Using your own words and experiences, what do you mean when you use the term ‘ethics’?
Name three dimensions that distinguish the mindset of social entrepreneurs from that of business entrepreneurs.
Name some social businesses that have no donated income from charity, taxes, grants or subsidies(see Figure 3.1).
Can you identify some social entrepreneurs in your community?
Should Mrs Villaviray have found out more information before approaching the BPRE and does she know enough to enter into this venture? How does this behaviour match with the characteristics of an entrepreneur?
What aspects of entrepreneurial mind and behaviour would make Mrs Villaviray think to approach the BPRE and not the bank first for assistance and what is it about Mrs Villaviray that would give the BPRE confidence to agree to assist and back Mrs Villaviray’s project?
What aspects of this case demonstrate the entrepreneurial mind and behaviour of Mrs Villaviray?
Given the profile of your recommended applicant, what other support might you suggest that the applicant would benefit from to strengthen their capabilities and likelihood of success?
To which applicant would you recommend that Paul make the tenancy offer? Defend your answer.
Which of the three applicants do you think has the weakest entrepreneurial psychological profile? Explain your reasoning and why you think this profile could be unsuitable for Paul’s business incubator.
Note: depending on your university or education provider, you may need to seek ethics approval before conducting interviews.
What advice, based on your own experience, do you have for a student interested in starting a venture today?
What is your exit strategy, or do you not have one?
What are your plans for the future of the venture?
What key personal characteristics do you see in yourself that were especially critical for achieving success with this particular venture?
What would you do differently if you had it all to do over again?
Were there some critical points in the development of the venture when the venture almost failed, or when you found yourself at a critical crossroads in terms of some vital decision or issue that had to be addressed in a certain way or the venture would have failed?
What key mistakes did you make along the way? What were some of the key lessons learned? What was your greatest moment and your worst moment?
Did you make assumptions when you first started out that subsequently proved to be wrong? What sorts of insights were gained?
Did the typical work week change as the venture grew (in terms of how much time the venture required and how you allocated your time)?
Did your need for control change as the venture grew?
Did your risk orientation change as the venture grew?
What sort of resources (not just financial) did you have when you started the venture? What sort of network did you have? Were there any especially creative things you did to come up with the needed resources?
Did you seek to establish a ‘lifestyle’ business, a ‘rapid growth’ business or something else? Did your growth orientation change over time?
Aside from starting a for-profit business, what other pathways are there for an entrepreneurial career? Explain how these pathways and the person-career fit for these pathways differ.
Describe the factors associated with the entrepreneurial ego. How might you guard against the negative effects of ego?
What are four causes of stress among entrepreneurs? How can an entrepreneur deal with each of them?
Entrepreneurship has a dark side. What is meant by this statement?
In what way is vision important to an entrepreneur? How may it positively and negatively influence new venturing?
Explain why an entrepreneurial team is important for an entrepreneur.
Explain why entrepreneurs are not gamblers.
How do the following traits relate to entrepreneurs: desire to achieve, opportunity orientation, initiative and responsibility?
Identify two high-profile entrepreneurs from your country and research their backgrounds. Using the characteristics of entrepreneurs outlined in this chapter as a reference, construct a character profile of each.How does your own profile compare to these?
Why is it that entrepreneurs perceive risk differently to most people in deciding upon undertaking a new venture?
Many people believe that entrepreneurs think differently to non-entrepreneurs. How can this be explained in terms of entrepreneurial cognition?
According to research, what characteristics of entrepreneurs specifically support the development of a venture at the nascent, survival and growth stages?
How is the motivation for entrepreneurship influenced by the context of a person’s country?
What entrepreneurial traits did Cave exhibit in starting this business?
Cave gives meaning to the I Ching (an ancient Chinese ‘book of changes’) hexagram ‘in adversity, it furthers one to be persevering’. Give your own interpretation of this. What does Cave mean when he discusses enabling the customers to become heroes?
What was the opportunity that Cave saw that allowed him to market someone else’s product without any money?
The computer salesperson and the criminal lawyer have a much higher need to achieve than does the corporate accountant.
High achievers like to do constructive things that help them improve themselves, so working on a hobby would be their first choice.
Because high achievers like to accomplish goals, the detective would have the greatest appeal for them. The politician is more interested in power and the millionaire is simply enjoying life.
High achievers like challenges but not high risks. If you are a very good poker player and you chose (b), you then can raise your score on this question from 2 to 10.
The high achiever would work out on their own. The second-best choice is to join a health club, which allows less individual freedom but gives the chance to get feedback and guidance from individuals who understand how to work out effectively.
Monopoly allows the high achiever to use their skills. Bingo and roulette depend on luck.
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