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entrepreneurship

Questions and Answers of Entrepreneurship

=+2 What difficulties did the owner have formulating a strategy regarding their succession?
=+3 What was the entrepreneur’s final decision on how to handle the succession?
=+4 What lessons can be learned from this individual’s experience?
=+1 Why is Jason reluctant to hand over the reins to Herbert?
=+2 Cite and discuss two reasons Jason should begin thinking about succession planning.
=+3 What would you recommend Rebecca and Herbert do to convince Jason they are right? Offer at least three operative recommendations.
=+1 Identify and briefly describe four characteristics you would expect to find in a successful manager of this type of venture.
=+2 What steps does Jack need to follow to successfully identify and groom a successor? Be complete in your answer.
=+3 If you were going to advise Jack, what would you recommend he do first?
=+ How should he get started with his succession plan?
=+What should he do next? Offer him some general guidance on how to handle this problem.
=+1 How does the Three-Circles Model of ownership, family and management (see Figure 7.3) apply to Darrell Lea? Discuss where these circles overlap in the middle – the area in which confusion and
=+2 How did the family schism over Jason Lea’s management decisions raise emotions and cause family problems?
=+3 Do you see any entitlement issues (family members feeling entitled to jobs and to senior management roles)?
=+4 Some wise advisers suggest that no family member should get a job in the family company until they have achieved
=+promotion outside it. How would that have worked at Darrell Lea?
=+5 What safeguards would prevent the Quinn family from committing the same errors as previous owners?
=+6 Which of the following is false advice? (1) Leave work at work and home at home.
=+ (2) You should have job descriptions for all family members.
=+(3) You don’t need to pay family members the market rate because they are earning value elsewhere.
=+(4) Make it clear in advance when family members can enter and exit the business.
=+1 Search (exit strategy). One of the excellent articles you will find is: DeTienne, Dawn R. and Francesco Chirico, ‘Exit
=+strategies in family firms: How socioemotional wealth drives the threshold of performance’, Entrepreneurship: Theory and Practice, November 2013, pp. 1297þ. Search for ‘threshold of
=+constituents will act to dissolve the organization’.
=+2 Search (family business) and (entrepreneurship), particularly the interesting article by Martin S. Bressler, Kitty Campbell and Brett Elliott, ‘The reverse family business: An emerging trend in
=+Journal, 20(2) (2014), pp. 137þ. What is the ‘reverse family business’? Do you know any?
=+3 Search (nepotism) and (family-owned business). Can you find a positive role that nepotism can play in family businesses?
=+1 To understand the entrepreneurial mind-set in organisations
=+2 To define the term ‘intrapreneurship’ in enterprises such as companies and public institutions in the Asia–Pacific
=+3 To illustrate the need for intrapreneurship and how entrepreneurial management differs from bureaucratic management
=+4 To describe the obstacles preventing innovation in enterprises
=+5 To highlight the considerations involved in re-engineering business thinking
=+6 To identify the relevance of purpose and organisation concepts of an intrapreneurial strategy
=+7 To highlight the role of social intrapreneurs in creating shared value
=+1 What is intrapreneurship?
=+What is the difference between a business intrapreneur and a social intrapreneur?
=+2 How do global levels of entrepreneurial employee activity (EEA) compare to total entrepreneurial activity (TEA)?
=+3 Do you believe that intrapreneurs are a different breed of entrepreneur?
=+4 What are two reasons that such a strong desire to develop intrapreneurs has arisen in recent years?
=+5 How does an entrepreneur differ from an intrapreneur? Compare and contrast the two.
=+6 What are five ways that an organisation can re-engineer its thinking?
=+7 What are some of the obstacles that must be overcome to establish an intrapreneurial environment?
=+8 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?
=+9 Why do we say that intrapreneurship is not for businesses only?
=+10 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.
=+11 Identify the four key elements on which managers should concentrate to develop an intrapreneurial strategy.
=+12 Explain the differences between radical and incremental innovation.
=+13 Identify the five specific entrepreneurial factors that organisations need to address in structuring their environment.
=+14 Why are innovation teams emerging as part of a new strategy for many companies?
=+15 What is a social intrapreneur?
=+Can you make a list of characteristics that differentiate this type of person from a regular business entrepreneur?
=+16 Why do companies need sustainable intrapreneurs? Why do governments?
=+17 What is Porter’s concept of ‘creating shared value’? Give examples not in the book.
=+1 Are you a high risk taker?
=+2 Do you enjoy taking the ideas of others and working to improve them?
=+3 Do you prefer to work alone rather than with others?
=+4 Are you effective at networking with others?
=+5 Do you like to work around rules and regulations by figuring out how to get things done despite all the red tape?
=+6 Would you be willing to risk losing your job to develop or improve a product that could make a great deal of money for the company?
=+7 Are you loyal and true to those who work with you?
=+8 In terms of what motivates you, is money near the top of the list?
=+9 Do you believe luck is a critical factor in the success of most individuals?
=+10 Are your ethics and morals higher than those of the average person?
=+11 Do you like to roll up your sleeves, dive in, and get involved in accomplishing things?
=+12 Do you like to have your boss set goals for you rather than do it yourself?
=+13 Do you believe that to get ahead you often have to do things that are illegal or unethical?
=+14 Are you extremely self-confident?
=+15 Do you like to gather information and examine the facts before you jump into something, as opposed to getting in quickly and going to work on a project?
=+16 Do status symbols such as a big office, a company car, and a key to the executive washroom strongly motivate you?
=+17 Are you good at persuading people to do things?
=+18 Do you often dislike the organisational system but overcome this dislike by working out ways of manipulating the rules and regulations to your own advantage?
=+19 Do you enjoy following orders from above?
=+20 Are you good at generating fresh ideas?
=+1 Of the eighteen ‘commandments’ listed above, which are the most aggressive? Which are gentler?
=+2 Rank-order them in actual importance to you with numbers 1 to 18.
=+3 Which of these commandments can get you fired? Why are they not always the best approach?
=+4 What do managers in your organisation normally do to free-wheeling risk-takers?
=+5 Are the interests of the intrapreneur sometimes not aligned with those of the shareholder?
=+6 Do you really have to be as brazen or daring to accomplish your goals?
=+7 Do you agree with the statement that ‘those who were most successful within corporations did not what they were told, but what needed to be done’?
=+8 Which of the commandments apply as well to other workers as they do to intrapreneurs?
=+9 Which depend on individual style more than anything else?
=+10 Which are affected by national culture?
=+11 Which are affected by gender?
=+1 Describe some of the factors needed to re-engineer corporate thinking that Southwest Airlines already exhibits.
=+2 What specific elements of a corporate entrepreneurial strategy are apparent within Southwest Airlines?
=+3 How was Herb Kelleher instrumental in structuring a climate conducive to entrepreneurial activity?
=+1 Locate the interesting encyclopedia entry for ‘Intrapreneurship’ by L. Hillstrom in Helms, M. M. (ed.), Encyclopedia of vManagement, 5th edn, Detroit: Gale, 2006, pp. 407–8. What does the
=+then in academic journals?
=+2 Search (intrapreneurship) in books. Read the interesting entry ‘Intrapreneurship’, Encyclopedia of Small Business, 3rd edn, vol. 1. Detroit: Gale, 2007, pp. 632–3, especially what
=+3 Search (‘new venture creation’) and you’ll see Liang, Chyi-lyi ‘Kathleen’ and Paul Dunn, ‘Discovering heterogeneity of entrepreneurs: A comparison of food and non-food
=+What are the risks that food entrepreneurs face that other entrepreneurs do not?
=+4 Search (public sector) and (entrepreneurs) in News. Read the interesting article by Tritch, Teresa, ‘America’s underappreciated entrepreneur: The federal government’, New York Times, 24
=+Do you believe the following article? ‘The public sector has much to gain from small business’, Independent [London], 20 April 2011, p. 2.
=+1 Starting a business with another person is a common pathway to an entrepreneurial venture. What are the benefits of having a business partner?
=+ What are some of the problems in starting a business with a business partner?
=+What do you suppose were the conflicts between Anna and the original developer?
=+2 Do you think PledgeMe’s decision to enter into equity crowdfunding was wise, or should it have stayed with the original threshold model?
=+3 Do the two parts of the business (the threshold model and the equity model) complement each other well?

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