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business
entrepreneurship theory process practice
Entrepreneurship Theory Process And Practice 4th Edition Donald F. Kuratko - Solutions
Identify and discuss three of the most important personal characteristics that help the entrepreneur identify and describe customers. Also, explain how the product life cycle will affect the purchasing behaviour of these consumers.
What role do demographic and benefit variables play in the segmentation process?
In your own words, what is market segmentation? Give examples.
How would an entrepreneur’s new-venture strategy differ under each of the following marketing philosophies:production-driven, sales-driven and consumer-driven? Be complete in your answer.
Which is of greater value to the entrepreneur: primary or secondary data? Why?
What are the five steps in the marketing research process? Briefly describe each.
In your own words, what is a market? How can marketing research help an entrepreneur identify a market?
What are the key constraints experienced by new and small businesses in marketing their products and services?
What are the differences between entrepreneurial marketing and ‘traditional’ marketing?
What are the influencing elements in an entrepreneurial ecosystem on the entrepreneurial process?
Identify and describe four of the steps to take when making an industry assessment.
What are the key elements identified in Hindle’s scorecard that are critical to assessing a venture opportunity?
How could an entrepreneur use Figure 9.5 to conduct a competitive profile analysis? What would the results provide?What types of decisions could the individual make from the analysis?
Explain how a comprehensive feasibility analysis works.
Explain how a feasibility criteria analysis works.
What are barriers to entry? How do they affect new-venture assessment?
Explain why Porter’s ‘five forces analysis’ is useful in assessing whether an idea is an opportunity.
How do you carry out an industry value chain analysis?
What are ways to evaluate new-venture opportunities?
How do you carry out an opportunity landscape analysis?
Many entrepreneurs lack objectivity and have no real insight into the market. Why are these characteristics considered pitfalls when selecting new ventures?
What are the critical factors in assessing a new venture?
How do you recognise a highly profitable and viable opportunity when you see one?
What are the factors that may vary to influence an individual’s decision on whether an idea is an opportunity?
Why are ideas not necessarily opportunities? Explain the difference between an idea and an opportunity and how to improve your chance of spotting an idea that could be an opportunity.
What is Porter’s concept of ‘creating shared value’? Give examples not in the book.
Why do companies need sustainable intrapreneurs? Why do governments?
What is a social intrapreneur? Can you make a list of characteristics that differentiate this type of person from a regular business entrepreneur?
Why are innovation teams emerging as part of a new strategy for many companies?
Identify the five specific entrepreneurial factors that organisations need to address in structuring their environment.
Explain the differences between radical and incremental innovation.
Identify the four key elements on which managers should concentrate to develop an intrapreneurial strategy.
Companies today are working to re-engineer their thinking and encourage an intrapreneurial strategy. What types of steps would you recommend? Offer at least three and explain each.
Why do we say that intrapreneurship is not for businesses only?
What are some of the innovative principles identified by James Brian Quinn (in the section on ‘Obstacles to intrapreneurship and innovation’) that companies need to establish?
What are some of the obstacles that must be overcome to establish an intrapreneurial environment?
What are five ways that an organisation can re-engineer its thinking?
How does an entrepreneur differ from an intrapreneur? Compare and contrast the two.
What are two reasons that such a strong desire to develop intrapreneurs has arisen in recent years?
Do you believe that intrapreneurs are a different breed of entrepreneur?
How do global levels of entrepreneurial employee activity (EEA) compare to total entrepreneurial activity (TEA)?
What is intrapreneurship? What is the difference between a business intrapreneur and a social intrapreneur?
What eight steps should be followed to harvest a business? Discuss each of these steps.
What do we mean by ‘liquidity event’? How can one best maximise it?
What are four steps that should be taken in carrying out a succession plan?
What are five qualities or characteristics successors should possess?
In what way can forcing events cause the replacement of an owner-manager? Cite three examples.
What are three of the contextual aspects that must be considered in an effective succession plan?
What pressures do entrepreneurs sometimes face from outside the family?
What pressures do entrepreneurs sometimes face from inside the family?
A number of barriers to succession in family businesses exist. Using Table 7.2, identify some of the key barriers.
What are the elements of a ‘sustainable–sustainable’ family business? Can you name one in your community?
Why should a family business be interested in environmental sustainability? Do you agree that family firms are more susceptible to climate change effects than non-family firms?
Think of a family company that you know. Which advantages and which disadvantages does that family business have?
Can you relate a story about a family business you know that explains the Three-Circles Model in some detail?
Talk about the size and impact of family businesses on Asia–Pacific economies, and in particular within the economy you are most familiar with.
What are the four kinds of family capital?
What is transgenerational entrepreneurship and what are the elements of ‘familiness’?
Why is an entrepreneurial family business different from other family businesses?
What is the philosophy of cradle-to-cradle design and what are some examples of companies using this approach in your country?
What dilemma faces entrepreneurs in the era of climate change? What are some examples of this?
Identify and describe five of the innovation principles.
Briefly describe each of the five major misconceptions commonly associated with innovation.
What are the four major types of innovation?
What is meant by the term innovation in simple terms and what important attributes does an innovation need in order to be an entrepreneurial opportunity?
Describe at least five key elements that contribute to a creative climate.
What are the four steps involved in developing personal creativity?
What are four major components in the creative process?
What are four major models of entrepreneurial opportunity? Explain and give an example of each.
How are prior knowledge and learning important to the recognition of opportunities?
Why are ideas not necessarily an entrepreneurial opportunity? What is necessary to bridge the gap?
How good is your health?r Excellent.r Pretty good.r Okay, but it has been better.
Can you stick with it?r When I make up my mind to do something, nothing stops me.r I usually finish what I start.r If things start to go awry, I usually quit.
Can people rely on your word?r Yes, I do not say things I do not mean.r I try to level with people, but sometimes I say what is easiest.r Why bother? The other person does not know the difference.
Can you make decisions?r I can make decisions, and they usually turn out pretty well.r I can make decisions if I have plenty of time, but fast decision making upsets me.r I do not like to be the one who has to decide things.
Are you a hard worker?r I can keep going as long as necessary.r I work hard for a while, but then that’s it.r I cannot see that hard work gets you anywhere.
Are you an organiser?r I like to have a plan before I begin.r I do all right unless things get too confusing, in which case I quit.r Whenever I have things all set up, something always comes along to disrupt the plan, so I take things as they come.
Can you take responsibility?r I take charge and see things through.r I’ll take over if necessary but would rather let someone else be responsible.r If someone is around who wants to do it, I let him or her.
Can you lead people?r I can get most people to go along with me once I start something.r I can give the orders if someone tells me what should be done.r I let someone else get things done and go along if I like it.
How do you feel about others?r I can get along with just about anyone.r I do not need anyone else.r People irritate me.
Are you a self-starter?r I can get going without help from others.r Once someone gets me going, I am just fine.r I take things easy and do not move until I have to.
Optimism can fuel the drive to press for success in uncharted waters. If you’re an optimist, add two. Pessimist, subtract two.
Entrepreneurial personalities seems to be easily bored. If you are easily bored, add two. If not, subtract two.
Handling cash flow can be critical to entrepreneurial success. Do you believe you have the ability to deal with cash flow in a professional manner? If so, add two. If not, subtract two.
Many entrepreneurs put their long-term and short-term goals in writing. If you do, add one. If you don’t, subtract one.
Do you believe being an entrepreneur is risky? If yes, subtract two. If no, add two.
Or, if you would immediately start looking for a job with a regular pay cheque, subtract one more.
If your business should fail, would you immediately start working on another? If yes, add four. If no, subtract four.
Would you be willing to borrow from others? Then add two more. If not, subtract two.
Successful entrepreneurs are willing to use their savings to finance a project. If you are willing to commit your savings to start a business, add two. If not, subtract two.
Entrepreneurs generally enjoy their type of work so much they move from one project to another – non-stop. When you complete a project successfully, do you immediately start another? If yes, add two. If no, subtract two.
If you are willing to work as long as it takes with little or no sleep to finish a job, add four more.
Yes, you really enjoy work. But are you willing to work overnight? If yes, add two. If no, subtract two.
Being tired of a daily routine often precipitates an entrepreneur’s decision to start an enterprise. If changing your daily routine would be an important motivation for starting your own enterprise, add two. If not, subtract two.
Entrepreneurs often have the faith to pursue different paths despite the opinions of others. If the opinions of others matter a lot to you, subtract one. If not, add one.
If you were daring or adventuresome, 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 yes, deduct four. If no, 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.
Those who started enterprises during childhood – lemonade stands, family newspapers, greeting card sales – or ran for elected office at school can add two, because enterprise usually can be traced to an early age. If you didn’t initiate enterprises, 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.
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