Enterprise: Entrepreneurship And Innovation: Concepts, Contexts And Commercialization 1st Edition Robin Lowe, Sue Marriott - Solutions

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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.
What are the three social enterprise models?
Is the social enterprise development cycle different from that of a regular business?
What are the distinguishing features of a social venture from a conventional business and what would motivate an entrepreneur to take this pathway?
In evaluating whether or not to buy a franchise operation what questions should the potential investor ask about the franchisor, the franchise, the market and the potential investor (himself or herself)?
How can a prospective franchisee evaluate a franchise opportunity? Explain.
Explain the merits and pitfalls of purchasing a franchise brand.
Explain why a would-be entrepreneur would explore the option of buying into a franchise. Cite and explain at least three advantages.
In a franchising agreement, what is the franchisee often called on to do? What responsibility does the franchisor assume?
What is meant by the term ‘franchise’?
What are the types of assets of a company you should examine when considering purchasing a business and what should you look for?
What probing questions should you ask of a business owner when deciding whether to buy a business?
What are the advantages of buying an ongoing business? Explain them.
Explain why just the financial history is not sufficient in making a purchase decision for an operational business. Explain at least four other forms of investigation one should make.
How can an individual who is thinking of going into business evaluate the financial picture of the enterprise? Use the methodology of Table 5.3 to prepare your answer.
Compare and contrast Boyd’s entrepreneurial trajectory to that of Joseph Hatch.
Given the mores of the times, was Boyd an ethical entrepreneur?
List as many ethical problems as possible that might be faced by employees during a normal work day. Discuss the possible solutions for the problems. Consider how a procedure guide might help employees to make the best decisions.
Is it possible disadvantaged people can actually become more entrepreneurial than other people?
What are your opinions on the questions of greed and entrepreneurial crime?
If you were an Australian or a New Zealander, would you pay bribes while doing business in China?
Can you relate some environmental crimes that have occurred near you?
Using your own words and experiences, what do you mean when you use the term ‘ethics’? 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 wi-fi hacking. The
Does ethical wealth creation apply to making money out of climate change?
Are sustainability entrepreneurs limited exclusively to environmental matters? Why not? Name three sustainable enterprises that don’t treat the environment.
Name three dimensions that distinguish the mind-set of social entrepreneurs from business entrepreneurs.
Name social businesses that have no donated income from charity, taxes, grants or subsidies (see Figure 4.1).
Entrepreneurs are creating new frameworks of entrepreneurial ecology every day. Just think of Airbnb and Uber. Can you name some other entrepreneurial ventures that are creating this kind of redefinition?
Give three good examples of up-cycled products.
Name three products that express positive entrepreneurship and three for negative entrepreneurship.
What part of your life belongs to the biosphere? To the sociosphere? To the econosphere?
Name pairs of entrepreneurial ventures that demonstrate the difference between industrial entrepreneurship and sustainable entrepreneurship; for example, Hertz and Uber.
Name three business ideas that show your understanding of ‘social discount rate’. For example, ‘beachfront property development along the Tasman Sea will employ and house people today, but one hundred years from now our descendants will come to grips with property and asset loss as a result
Can you describe an environmental market failure in your area?
What animals in your area are victims of the anthropocene extinction event?
Are entrepreneurs responsible for global warming?
What are opportunities you can name for entrepreneurs in terms of changing world populations?
What is a necessity entrepreneur and how is this connected to population growth?
How is the Asia–Pacific region faring as far as climate change is concerned?
In your own country, what evidence is there in recent years that entrepreneurial activity helped bring the economy out of recession?
The book talks about ‘entrepreneurship as if the planet mattered’? In your view, what is the exact opposite of this worldview?
Identify and describe the major life-cycle transitions for a lifelong entrepreneurial career.
What characteristics of entrepreneurs has research identified that specifically support the development of a venture at the nascent, survival and growth stages?
Describe the factors associated with the entrepreneurial ego.
In what way is vision important to an entrepreneur? Self-confidence? Independence?
How is opportunity orientation defined?
Some of the characteristics attributed to entrepreneurs include persistent problem solving, continuous seeking of feedback and internal locus of control. What do these mean?
Many people believe that entrepreneurs think differently. How can this be explained in terms of entrepreneurial cognition?
What do we see when we look around the world at entrepreneurs? How can the differences among entrepreneurs in terms of age and gender be explained?
Which one of these persons would you most like to be?a A detective solving a crime b A politician giving a victory statement c A millionaire sailing on their yacht
With which one of these groups would you most enjoy playing poker?a Friends b High-stake players c Individuals who can challenge me
Which one of these people would you most like to be?a Steve Jobs, founder of Apple Computers b Donald Trump of Apprentice television show fame c Richard Branson, Virgin Airlines
An instructor in one of your classes has asked you to vote on three grading options. Which of these options would you choose?a Study the course material, take the exams and receive the grade I earn b Roll a dice and get an A if I roll an odd number and a D if I roll an even number c Show up for all
Are you in an entrepreneurial university?
What personal gain do you expect out of your entrepreneurship education?
Is your personal entrepreneurship education curriculum relevant to you?
What are the professions that have the highest proportion of self-employed people?
Which school of entrepreneurial thought makes most sense to you, and why?
Why do we use the French word instead of an English equivalent?
What is the potential role for entrepreneurs in the era of climate change?
5. Why are many owner managers not interested in growing their businesses?
4. What advantages and disadvantages do periods of consolidation have for the entrepreneur and the entrepreneurial organization?
3. A significant number of organizations achieve fast growth for short periods especially after start up but many of them fail to maintain growth rates. Why do you think this is?
2. What do you consider to be the characteristics of a fast-growth organization? What prevents many large organizations achieving above average performance?
1. Define the stages of entrepreneurial organization development and explain the key skills that are required to successfully manage each stage.
■ understand how competitive advantage is developed in entrepreneurial organizations through market positioning and building core competencies.
■ develop a niche strategy to achieve fast growth;
■ evaluate the strategies that are used by entrepreneurial organizations at start up, and during periods of growth, consolidation and underperformance;
■ identify the barriers to growth and compare the appropriateness of strategies to overcome them;
■ appreciate the need for a strategy in an entrepreneurial organization and the need for a different strategy at key stages in the development of a business;
5. Which is most important in achieving the break-even point –managing costs or generating sales?
4. What reasons can you suggest could be the cause of a business achieving technical success and yet failing to emerge from‘death valley’?
3. What are the advantages and disadvantages of using a business angel to fund a growth strategy for a small business?
2. Many business angels choose to ‘back the jockey not the horse’, i.e. they are more interested in the qualities, characteristics and capability of the entrepreneur or entrepreneurial team than in the business proposition. Do you think this is appropriate and why?
1. It is often said that when setting up a business the three most important things are location, location and location. Explain whether you agree and why, in the context of setting up an organic sandwich shop.
■ appreciate the potential pitfalls in new business starts and how they might be overcome.
■ understand the marketing and sales that are needed to win over customers and maintain their satisfaction with the organization’s offerings;determine the critical steps and decisions needed to achieve break-even; and
■ develop a team of staff that will contribute to achieving a sustainable operation;
■ define the various sources of finance and the criteria that will affect the suitability of a particular source for the organization;
■ understand the requirements of forming an organization, including deciding on ownership, obtaining premises at a suitable location and legal protection for the organization and its activities;
■ identify the resources that are needed and the decisions that are required for a new venture;
5. What assistance is provided in your area for new start up businesses?Do you consider it to bea. appropriate?b. sufficient, and why?
4. Why can timing be crucial to the decision to set up a business?
3. Explain to a sceptical entrepreneur the benefits of creating a business plan.
2. Explain the difference in purpose and contents of a feasibility study, business plan for investors and internal plan to manage the new organization.
1. What are the benefits of carrying out a feasibility study for a bakery that the two owners thereof propose to start in a market town in the North of England? What risks do they face and what aspects of the study would you recommend the owners to particularly concentrate on in order to address
■ explain the purpose of a business plan, its preparation, framework and key components.
■ assess the feasibility of commercial success for the new product or service; and
■ evaluate the risks associated with the pursuit of new opportunities;
■ assess the factors that will influence the choice of business model;
■ appreciate the stages in developing a business from initial idea to a sustainable business;
5. How might environments that encourage networking (e.g.business incubators) support small firms in exploiting opportunities?
4. The process of exploiting an opportunity from the initial idea to commercialization can be expensive and time-consuming.How can a new or smaller organization reduce the time and costs involved?
3. What advantages do small firms have over large ones in exploiting market opportunities?
2. If you were establishing a new product and service development process in an organization what methods would you suggest to encourage staff to identify new ideas?
1. As a specialist consultant to the industry write a report identifying some potential sources of business opportunity for a major investor in the home entertainment industry.
■ recognize the alternative commercial approaches to exploiting an opportunity.
■ appreciate the nature of the solutions that might be created in terms of products, services, processes and ideas; and

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Enterprise: Entrepreneurship And Innovation: Concepts, Contexts And Commercialization 1st Edition Robin Lowe, Sue Marriott - Solutions

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