Section A: Compulsory Case Study Section Carefully read the Case Study below and carefully answer the Critical Thinking Questions that follow for 50 Marks Case Study (Riisto Puutio, A CEO of Consulting Oy): Further Product Development and Finalizations Last summer, I worked with some students from the University of Jyvaskyla. Because I also work with the university, I hired them for a three-month project to develop a product. The group of students comprised people from different academic backgrounds and different experiences, so we worked together on developing my product idea. That was a good experience, and I think, for them too, it was beneficial because that project offered a place to see how entrepreneurship works in reality. [], I think the students benefited by seeing what I do, I shared one product I have made with them and allowed them to use it and this led to interactions about the product and the product further development processes, and also they benefited from playing with my product development idea by seeing how it worked out, and they also benefited from seeing how I think, because I was very open with the idea, I really shared my concerns with them, I didnt know how to go with the product development idea, so I had to share with them rather than telling them what to do and that challenged them and also helped them to learn a lot. Also, they had that position to think about things the way I do, and also they acquired some experience from the project because in a way they were my consultants, which made them learn how to be helpful to others who are practitioners in industry, which is useful for them in terms of entrepreneurship, so they learnt some of the business habits that at the beginning they were quite nervous about, so now they have learnt to be confident. When they came to my office with their request to get a live business project to work on, I immediately said to them that was fine, and told them they should work quick so we could get the project started, so by involving the students in the project, I have also learnt a little bit how to build and maintain business relationships, so I also learnt how to behave in business relationships. I had a broader idea, I gave the students the chance to develop the idea and do some basic thinking, they gave me an 80-page report, they did analysis, did interviews for the potential customers, they modelled, they did some work about mobile applications, they had skills which I didnt have which they used to do some economical calculations regarding what my company would need, and they also found out potential networks for my company, I found this essential and useful because I wouldnt have had time to do that. On top of it all, I had the opportunity to work with younger people who are 30 years younger than me, so l learnt about how these young people think, how they see the world, so it was useful for me to see that these kinds of young people think that way, or they see the world that way. It was also just fun to be with the young people, to have the opportunity to discuss with them, and to see the energy they have, and that was fascinating. Critical Thinking Questions 1. As precisely as possible, describe the live business challenges that Riisto Puutio was confronted with? Why couldnt he solve his own problems? (7 Marks) 2. Discuss the factors that enabled the diverse team of students to solve the live business challenges for Riisto. How were they able to solve the live business challenges? What challenges might the team have faced in solving the live business challenges? (10 Marks) 3. What were the solutions provided by the students to Riistos live business challenges and what would be the likely impacts on his business? (7 Marks) 4. Enumerate and justify in accordance with the case any FIVE entrepreneurial traits demonstrated by the team of students. (5 Marks) 5. Argue whether Riisto was entrepreneurial or non-entrepreneurial. What entrepreneurial traits did Riisto demonstrate that facilitated the work of the students on his live business challenges? (6 Marks) 6. The students wasted their time with their involvement in solving Riistos live business challenges. Explain with appreciable justifications whether you support this statement or you are against it. (9 Marks) 7. Briefly discuss any FIVE constructive lessons you have learnt from this case and indicate how you would apply them to building your own entrepreneurial life. (6 Marks)