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entrepreneurship theory process practice

Questions and Answers of Entrepreneurship Theory Process Practice

Will language affect the company’s marketing efforts in the target market? Is there more than one language that must be considered?
Will cultural factors require the business to change features of its marketing mix?
To what degree would the social structure affect/alter the way the business operates?
To what degree is language a factor in the company’s ability to do business in foreign markets?
What is the level of general credit availability and payment reliability?
Are there restrictions on exchanging foreign currency (can the business be paid in a suitable currency)?
How stable/volatile is the overall economy (for example, inflation, interest rates)?
Are there legal restrictions that would require excessive modification to the product (for example, restrictions on the use or protection of a trademark or brand name, labelling requirements)?
Are there tariffs, entry barriers or non-tariff barriers that would either hamper or help market entry of a product from your country (for example, a special trade arrangement such as a free-trade
Would government regulations restrict access to certain types of trade, or create excessive burdens for the business’ entry plans (for example, do they require a certain level of local production)?
How stable/risky is the political situation/level of civil unrest and how would this affect trade?
The team discovered how little a robot actually needs in order to be social and engaging. Are there any features of the ethnodroid that could have been left out and still resulted in a strong
Can you think of any even cheaper way to test children’s learning through robots? (Hint: Think‘mechanical Turk test’ in Chapter 7.)
Name five ‘Wizard of Oz’ tests that you can imagine for other products or services.
What are the A/B testing experiments that the team carried out?
Can you describe the difference between a pretotype and a prototype by brainstorming a new product or service and validating it? You might find Table 7.1 useful.
What are some of the surprising characteristics of 42Below’s entrepreneurial marketing campaign?
What are 42Below’s customer segments? How are they different from normal vodka drinkers?
This case is now 10 years old. How could 42Below promote their brand through word of mouth today? What social media channels would you use?
Does 42Below’s marketing strategy fit the definition of guerrilla marketing?
Redo the lean canvas based upon your projected scenarios.
Discuss these scenarios.a What is the impact of possible regulation on Uber’s business model? Will amateur drivers be banned?Which blocks in the model will change?b What is the impact of technology
Describe the Uber business model.
What are the top ‘outside forces’ in your business venture?
Describe how the business model canvas and the lean canvas focus the start-up entrepreneur on distinctive issues. What are the specific differences between the two canvases in application?
Give an example of a business model not discussed in the section ‘The logic of value creation’.
When developing a lean marketing plan, which of the seven steps do you consider indispensable? Which are optional?
Identify and discuss three psychographic characteristics that help the entrepreneur identify and describe customers.
In your own words, what is customer segmentation? Give examples.
What are the most important components in marketing research for lean marketers? For each, list three questions that you would like to answer.
Which of the lean marketing techniques interests you most? Defend your answer.
Which are the most important parts of a lean marketing plan? Defend your answers.
Give an example of how you would implement Dale’s Cone of Experience in a social media campaign.
How is lean marketing also hypothesis-based, like the techniques in the previous chapters?
How is lean marketing different from traditional marketing?
What are the differences between entrepreneurial marketing and ‘traditional’ marketing?
How would you validate the market need for this product?
What customer needs does this product satisfy?
Research Pollenizer and explain why it shut down.
What is the value proposition of an ‘incubator’ and how can it build a sustainable business model?
Review the section ‘Pivot, persevere or perish’. Now search for the phrase ‘Google Graveyard’. Do any of the products in the Graveyard have pivot potential?
At 1’10’’ in https://goo.gl/UJMRyD, is the ‘user story map’ the speaker mentions the same as the ‘customer journey map’?
At 38’’ in https://goo.gl/UJMRyD, what does he mean by having something that is ‘good enough’?
Can intrapreneurs in large companies benefit from lean methods?
What lean methods did the Nordstrom Innovation Lab use?
Do you think it would be hard to have a design lab inside of a large corporation?
What would you do for a one-week experiment?
Give clear examples of three types of pivots.
Which of the methods of experimental validation is most interesting to you, or would you like to use in your venture?
What is the importance of the riskiest assumption in the validation board?
How many times can you repeat the cycle in Figure 7.6, ‘The validation method’?
Give two examples of falsifiable hypotheses in one of the projects in ‘Entrepreneurial edge: Solving the world’s wicked problems’, Chapter 5, page 161.
What is the difference between hypotheses-driven entrepreneurship and ‘build it and they will come’entrepreneurship?
Can you name a situation (not mentioned in the book) where pretotyping might have ethical implications?
What is the difference between high-fidelity and low-fidelity pretotypes?
For your project, which of the following would fit: infographic, explainer video or landing page? Which would you pick for your pretotype and why?
When would you use physical pretotypes and when virtual pretotypes?
In what way is the stage-gate process the antithesis of pretotyping?
What is the difference between pretotyping and prototyping?
Is there really any difference between minimum viable product and the process of pretotyping?
What does the phrase ‘Pivot, persevere or perish’ mean? Can you give an example of (1) a company that perished; and (2) one that changed its business mode?
Study the videos in the endnote and write down your impressions.
Can you imagine which extreme users the team interviewed?
How did the design process follow or deviate from the Etappe design thinking process model (Figure 6.3)?
What are the top five tools you would use in your own design challenge?
What are the three core factors in the design thinking process model?
Give an example of when you have used ‘design intelligence’ to reframe a problem after initially framing it wrongly.
When we look at human perception and its relation to design, in your opinion, which are the top three perceptual characteristics of the human mind that most impact design?
What does mindset mean, and which are the most important mindsets we use in design thinking?
What are the characteristics of wicked problems?
Consider how designerly ways of knowing contrasts to science and the humanities. Name one problem in your daily life and describe how you would solve it using the methods of each discipline.
Why do we say that design is a noble calling for entrepreneurs?
What do you think Buckminster Fuller meant by ‘anticipatory design science’?
Recalling Chapter 5, what are customer pains and how do they fit into the design thinking process model?
When this is done, what else should Thanaphol do? Outline a general course of action for him.
What is the first thing Thanaphol should do to follow up on his idea? Explain.
Is anything unique about Thanaphol’s idea? Explain.
4 Which of the innovation sources discussed in the chapter help account for this product’s success? Explain in detail.
3 What type of innovation was this – invention, extension, duplication or synthesis? Defend your answer.
2 Why did the manager have the Post-it Notes sent to secretaries throughout the company? What was his objective in doing this?
1 In the development of this product, how did the creative thinking process work? Describe what took place in each of the four steps.
Is this case creative or just plain deceptive? Justify your answer and discuss any ethical dilemma.
What arenas of creativity are exhibited in this case?
What would define the creativity in this case as lateral thinking?
What model of opportunity was this venture following and what was creative and innovative about their actions?
What are they willing to pay (or give) to solve their pains?
How big is their pain?
What pain do your customers have when trying to do those jobs?
What jobs are your customers trying to do?
How many customers are there?
Who are your target customers?
Quickly sketch a value proposition.
Pick an opportunity and name the sources of value in it.
What are the three major components of a value proposition?
How would you define a value proposition? Include a discussion of expressed versus latent needs.
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.
In what ways is the opportunity recognition process model also a feedback loop?
What are some examples of wicked problems in your community?
What are five major phases of entrepreneurial opportunity recognition? Explain and give an example of each.
What is the connection between bricolage and resources?

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