Questions and Answers of Entrepreneurship Starting Operating

Explain how do the following strategies create entrepreneurship opportunities;Mountain gap strategy Great chef strategy Unique product strategy Unique resource strategy.
What are the major propositions of the strategy formulation school?
“Opportunities generated in the environment due to various reasons are pivotal for entrepreneurship.” Elaborate this statement by giving suitable examples.
Argue whether entrepreneurial traits are inherited or can be imparted by Entrepreneurship Development Programs.
Critically examine whether entrepreneurship can be appropriated to finance as the finance school suggests.
“The environmental school of thought propagates the notion that external environmental factors induce entrepreneurship.” Discuss giving examples.
What are the external factors that cause entrepreneurship? Explain how they influence entrepreneurship.
“Some become entrepreneurs solely due to inducement.” Identify the major types of inducements and discuss this statement giving examples.
Describe the major types of displacements and argue how powerful are displacements to create entrepreneurs. Provide suitable exam-ples to support your arguments.
“The most predominant among all is the human psychology in inspiring motives for entrepreneurship.” Discuss.
Describe the sociological theory of entrepreneurship and explain how the sociological factors determine entrepreneurship.
(a) What are the chief arguments of the economic theory of entrepreneurship? (b) Discuss how the economic circumstances contribute to rise of entrepreneurship opportunities.
Describe the lineage of economic and management thoughts traceable in entrepreneurship theory.
“COVID-19 was non-man-made-marvel that revolutionized entrepreneurship.” Critically examine how COVID-19 conceived new entrepreneurship thoughts and reinvented the wheels of contemporary
Explain how entrepreneurship has been evolving through consumerism, mass production, mass marketing, free trade, Foreign Direct Investment, Global Value Creation, and Global Supply Chain.
Evaluate the role of management and technological development in revolutionizing entrepreneurship to the present state.
Describe the role of international organizations that help entrepreneurship in terms of intellectual property protection, trade regulation, trade financing, and entrepreneurship development at
Evaluate the impact of free float exchange rate policy, open market policy, entrepreneurship liberalization and development policy, Free Trade Zone policy, and free trade policy on entrepreneurship
Identify the major forces and their impacts that strengthened the entrepreneurship in the twentieth century.
“Industrial Revolution transformed the Domestic System into Factory System.” Explain how entrepreneurship evolved during the seventeenth and eighteenth centuries in Europe.
Describe how the concept of “entreprendre” led to the under-taking of projects in the sixteenth century and its contemporary prevalence also.
“Colonialization inspired cross-border production and trade and hence international entrepreneurship, under the colonial system.” Discuss providing historical evidence.
What is the entrepreneurial class? Explain how the entrepreneurial class emerged along with the rise of trade and cities in the medieval age.
Explain how surplus production fostered the barter system during the agrarian era.
Examine how synergy encouraged teamwork, teamwork improved productivity, and productivity helped create surplus at the early age.
“The history of entrepreneurship dates back to the stone age.” Make an enquiry into the early age of entrepreneurship.
“Challenges for entrepreneurship retard supply of entrepreneurs.” Examine the validity of this statement referring to how challenges thwart entrepreneurship.
Describe the entrepreneurial success factors critically examining the relevance of personal attributes and personal abilities also.
Answer the frequently asked questions about entrepreneur that reflect different perceptions of entrepreneur.
ExplainwhyentrepreneursareidentifiedasManagerial entrepreneur,Technicalentrepreneur,andEntrepreneurial manager.
Identify the different types of entrepreneurs based on the classifica-tions of ownership, size, venture type, motive, geography, gender, and age of venture.
Explain why entrepreneur is important to the society. Describe the state of a society in absence of entrepreneurs.
“Entrepreneur can be successful only if they care for their respon-sibilities.” Identify the major responsibilities of entrepreneur and elaborate how entrepreneur should commit to the
Explain why entrepreneur is required to play the following roles simultaneously in entrepreneurial career;Innovation role, Managerial role, and Administrative role.
“Entrepreneur possesses both entrepreneurial and managerial skills. Compromise of each will result in adverse effects on the venture.” Discuss.
Can anyone be an entrepreneur without owing to the personal traits such as being Creative, Innovative, Self-motivated, Confi-dent, Optimistic, Competent, Energetic, Flexible, Courageous, Aggressive,
Describe the uniqueness of each of the following terms;Business entrepreneur Social entrepreneur Charitable entrepreneur Bureaucratic entrepreneur Political entrepreneur.
a. Is businessman different from entrepreneur?b. Is business different from entrepreneurship?
“Entrepreneur is a generic title used for a person involved in busi-ness activities.” Describe the other such terms that are alternatively used for entrepreneur.
What are the cultural, ethical, legal, and environmental responsi-bilities of the entrepreneur? Explain why entrepreneur is required to honor these responsibilities.
Explain whether the entrepreneur’s roles and functions stretch beyond the internal affairs of a venture.
Describe the characteristics of the venture class LL, HL, and LH and recommend a suitable remix of managerial and entrepreneurial skills for them to reach the class HH.
Are entrepreneurial skills and managerial skills complementary? Provide arguments to establish your opinion.
Illustrate the construct and the propositions of the Venture Classifi-cation Matrix and discuss the strengths and weaknesses of ventures classified under each category.
Differentiate between Managerial skills and Entrepreneurial skills and discuss whether one skill is more important than the other.
Describe entrepreneurship situations that evoke the following strategies;Blue Ocean Market strategy Reengineering strategy Niche market strategy Retrenchment strategy.
“Entrepreneurial Opportunity Diagnostic Matrix is not only serves as a useful tool to diagnose environmental situations but also guides entrepreneurial strategy formulation for each situation.”
Describe the propositions of Entrepreneurial Opportunity Diag-nostic Matrix and critically evaluate the four different situations proposed by it.
Identify the components of the entrepreneurship environment. Explain how outer environmental components impact on each inner component.
“The macro entrepreneurship environment is uncontrollable to the entrepreneur.” Discuss this statement referring to Operational, Market, and National business environments.
Explain how entrepreneur innovates their “firm environment” in response to the challenges posed by the elements of the external environment.
Describe the controllable and uncontrollable spheres of the entrepreneurship environment and discuss the extent to which they impact on entrepreneur.
“Some entrepreneurs prefer stable environment to unstable envi-ronment while some others prefer the inverse.” Critically examine why.
Identify the components of entrepreneurship environment and discuss why the knowledge of each component is important for an entrepreneur.
“Nationalentrepreneurialcapacityisdeterminedby entrepreneurial attitudes, abilities, and aspirations according to the Global Entrepreneurship Development Institute.” Critically explain.
Describe the composition of the Entrepreneurial Ecosystem stipu-lated by the Global Entrepreneurship Development Institute.
Estimate the dimension of international entrepreneurship and its significance in the world production and trade referring to the World Investment Report (WIR).
Pinpoint the areas that most of the countries are lagging behind but should strive to improve among the 14 fields proposed in the Global Entrepreneurship Development Report.
“Global Entrepreneurship Index (GEI) establishes the connec-tion between national entrepreneurial capacity and national income differentials.” Analytically examine.
Establish the connection between entrepreneurship and the forma-tion of national wealth tracing evidence from recent Global Entrepreneurship Monitor (GEM).
“Entrepreneurship organizes economic activities and thus it is referred to as the ‘engine of growth and development’” also. Critically examine this statement.
Differentiate between private profit and social profit and examine the circumstances that each is realized in entrepreneurship.
“Entrepreneur creates consumer surplus and producer surplus.” Illustrate the connection between the two tracing the resulting value and profit also.
Discuss whether you agree with the propositions of the inter-vention hypothesis and its capability as an eclectic approach to entrepreneurship.
Trace the shortcomings of the definitions of entrepreneurship and formulate your own definition to overcome them.
Select the most exciting contributions from among the main-stay definitions of entrepreneurship and discuss how they helped broaden the meaning of entrepreneurship.
“Adam Smith identified two types of entrepreneurs: produc-tive entrepreneurs and unproductive entrepreneurs.” Differentiate between the two and explain why Smith despised unproductive
Critically examine the statement “entrepreneurship is more than an average skill and thus it cannot be salaried but compensated with profit.”
“The concept of entrepreneurship was derived splitting the concept of capital into two; so, entrepreneurship became the fourth factor of production revolutionizing fundamentals of economics.”
“EntrepreneurshipevolvedfromtheFrenchpracticeof ‘entreprendre.’” Explain the meaning of “entreprendre” referring to the war logistics undertaking practices in France.
Describe the background that promoted entrepreneurship as a new field of study in the twentieth century.
Do you believe that sustainable development should be part of an entrepreneurship course or did the textbook authors just include a section on it to be “politically correct”?
Isn’t “corporate entrepreneurship” an oxymoron? Do the characteristics of an established organization, such as its routines and structure, increase efficiency but at the same time kill any
What does it mean to say that something is important to you? Who has lost something that was important to them? How did it feel? What did you do to recover from the loss?
Take the following problem statement and brainstorm solutions. Be prepared to present your three most “creative” solutions. Problem statement: “Customers too frequently use an airline and fly
Choose a product and use the checklist method to develop new ideas. Be prepared to state your product and the three most creative ideas generated.
What are the major issues in the constant battle over music streaming rights? How do you think these issues should be resolved?
Given the difficulties in accurately predicting the future, is a business plan useful? Provide three reasons for writing one and three reasons for not preparing a plan. What is your conclusion and
Would the entrepreneur be better off spending more time selling his or her product rather than investing so much time in writing a business plan?
Should the government provide grants for entrepreneurs starting new businesses? Should the government guarantee loans for small businesses that are missing the necessary track record, assets, or
Assume that you have been very lucky and have been given a considerable fortune. You want to become a business angel (straight after graduation). How would you go about setting up and running your
The firm needs to make sales. What is the best way to motivate salespeople to make more sales and improve the performance of the firm? How would you effectively monitor their performance under the
Categorize those people in the class who you believe would be well suited for starting a business and managing initial growth but would be less effective at conducting the professional management
Think of a company that produces one product and sells it to one group of customers (or make one up). Advise the entrepreneur of the many opportunities there are for growth opportunities for
Are you a time waster or a time server? What time management techniques do you use? How can you better manage your time?
Recently the Chinese government has been encouraging foreign firms to enter into joint venture relationships with local (Chinese) firms. What are the benefits to the Chinese economy from these joint
Identify a local franchise in your area, and determine where the competitors are located and where other franchises from the same organization are located. Evaluate the existing potential for the
What are the issues facing an entrepreneur in deciding whether or not the business needs to be put into bankruptcy today?
To be cognitively flexible seems to require that the entrepreneur continually question himself or herself. Doesn’t that create a doubt that can be seen by employees and financiers such that success
Eric Andrews has been investigating the possibility of starting a service that will partner with grocery stores to provide a delivery service for their customers. The idea is that after purchasing
1. Once a piece of secondhand furniture was listed on Move Loot’s website, if a customer didn’t like the price, he or she could offer a lower amount. Move Loot’s 50 percent commission was based
1. What are ways to get people to care about your product or service? Why is it important to establish a community of true believers and early evangelists? Wouldn’t it be easier to acquire
It is often argued that the process of writing a business plan is as important as the plan itself, particularly for the top management team of a young firm. Why is this so?
If you are developing a completely new product or service, what type of information should you include in your business plan regarding the status of the development efforts?
1. How effectively do you think Katie Beauchamp and Hayley Barna used their time in college to advance their business idea?2. In what ways is Birchbox’s business approach a win-win for both its
You have been approached by a close family friend who is putting together a limited liability company to purchase a condominium complex near Cocoa Beach in Florida. He is asking you, along with a
1. Show the income statements for the three candidates to two or three friends who are majoring in business. Ask them to select the best CEO from among these three people on the basis of these income
What are the two primary functions of the financial management of a firm?
1. What can a first-time entrepreneur, who may have a good idea but not much money or business acumen, learn from Mary Lynn Schroeder’s experience?2. To what degree do you think you’d be capable
1. Consider the following statement: “Life hacking skills are particularly important for entrepreneurs because entrepreneurs are typically time and resource-strapped.” Do you agree with the

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