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entrepreneurship theory process practice
Questions and Answers of
Entrepreneurship Theory Process Practice
What is effectuation theory? How does it explain your own personal life goals?
What is opportunity identification? What are some of its distinguishing factors?
What are some of the steps involved in developing personal creativity?
Is the CEO in this case in any way entrepreneurial or intrapreneurial? Justify your answer.
‘The bottom line . . . sustains the heart.’ Explain why some Junction Australia staff may disagree with this statement.
Discuss the reasons why collaboration was key to this example of a successful social enterprise?
Who were the key stakeholders in this case? How and why did the CEO of Junction Australia engage with these stakeholders?
The CEO of Junction Australia had a new mindset:‘. . . seeing problems as an opportunity’. How did she apply this mindset?
Discuss your views on how much Jessica’s entrepreneurial career has been influenced by her own drive, her family context and the various support programs that she engaged with. Is Jessica a born
Map out the important points that supported Jessica’s entrepreneurial development by considering the different aspects of personal development and business opportunity development. Discuss how
How would you describe Jessica’s entrepreneurship pathway? Bootstrapping, minipreneurship, new-new or new-old, family business, intrapreneurship? Explain your answer.
Draw up a list of things that Arlene should consider in making a decision to move into her own business and recommend different strategies that would seem right for her. Describe the strengths and
Should Arlene have been open with her boss and discussed her ideas about a franchise and the merits of considering this particular purchase? What may be the consequences of this conversation?
Does Arlene’s background suggest she is ready for a career transition to run her own business? Describe Arlene’s character traits and experience that this case suggests and describe how these
How good is your health?h Excellent.h Pretty good.h Okay, but it has been better.
Can you stick with it?h When I make up my mind to do something, nothing stops me.h I usually finish what I start.h If things start to go awry, I usually quit.
Can people rely on your word?h Yes, I do not say things I do not mean.h I try to level with people, but sometimes I say what is easiest.h Why bother? The other person does not know the difference.
Can you make decisions?h I can make decisions, and they usually turn out pretty well.h I can make decisions if I have plenty of time, but fast decision making upsets me.h I do not like to be the one
Are you a hard worker?h I can keep going as long as necessary.h I work hard for a while, but then that’s it.h I cannot see that hard work gets you anywhere.
Are you an organiser?h I like to have a plan before I begin.h I do all right unless things get too confusing, in which case I quit.h Whenever I have things all set up, something always comes along to
Can you take responsibility?h I take charge and see things through.h I’ll take over if necessary but would rather let someone else be responsible.h If someone is around who wants to do it, I let
Can you lead people?h I can get most people to go along with me once I start something.h I can give the orders if someone tells me what should be done.h I let someone else get things done and go
How do you feel about others?h I can get along with just about anyone.h I do not need anyone else.h People irritate me.
Are you a self-starter?h I can get going without help from others.h Once someone gets me going, I am just fine.h I take things easy and do not move until I have to.
Optimism can fuel the drive to press for success in uncharted waters. Are you an optimist? If so, add two. If not, subtract two.
Entrepreneurial personalities tend to be easily bored. Are you easily bored? If so, add two. If not, subtract two.
Handling cash flow can be critical to entrepreneurial success. Do you believe you have the ability to deal with cash flow in a professional manner? If so, add two. If not, subtract two.
Many entrepreneurs put their long-term and short-term goals in writing. Do you do this? If so, add one. If not, subtract one.
Do you believe being an entrepreneur is risky? If so, subtract two. If not, add two.
Or would you immediately start looking for a job with a regular pay cheque? If so, subtract one more.
If your business should fail, would you immediately start working on another? If so, add four. If no, subtract four.
Would you be willing to borrow from others? If so, add two more. If not, subtract two.
Successful entrepreneurs are willing to use their savings to finance a project. Are you willing to commit your savings to start a business? If so, add two. If not, subtract two.
Entrepreneurs generally enjoy their type of work so much they move from one project to another – non-stop.When you complete a project successfully, do you immediately start another? If yes, add
Are you willing to work as long as it takes with little or no sleep to finish a job? If so, add four more.
Yes, you really enjoy work. But are you willing to work overnight? If yes, add two. If no, subtract two.
Being tired of a daily routine often precipitates an entrepreneur’s decision to start an enterprise. Would changing your daily routine be an important motivation for starting your own enterprise?
Entrepreneurs often have the faith to pursue different paths despite the opinions of others. Do the opinions of others matter a lot to you? If so, subtract one. If not, add one.
Were you daring or adventuresome as a child? If so, add four more.
Caution may involve an unwillingness to take risks, a handicap for those embarking on previously uncharted territory. Were you a cautious youngster? If so, deduct four. If not, add four.
Stubbornness as a child seems to translate into determination to do things one’s own way – a hallmark of proven entrepreneurs. If you were stubborn as a child, add one. If not, subtract one.
Enterprise can usually be traced to an early age. Did you start an enterprise during childhood – lemonade stands, family newspapers, greeting card sales – or run for elected office at school? If
Studies of entrepreneurs show that, as youngsters, they often preferred to be alone. Did you prefer to be alone as a youngster? If so, add one. If not, subtract one.
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.
Describe how private, corporate and public-sector entrepreneurs may differ in at least three common dimensions.
Name and describe at least five tactics an organisation might apply that signal an intrapreneurial philosophy.
What are five questions that can be applied to test whether an organisation is intrapreneurial?
How does re-engineering an organisation differ to the intrapreneurship pathway?
What is intrapreneurship and why is it becoming increasingly important for large organisations?
Why would some describe entrepreneurship in large organisations as an oxymoron?
What does the term ‘transgenerational entrepreneurship’ mean and what are the five elements that influence this phenomenon?
Family businesses are not all small. Research and list at least five family businesses in your country that are household names. What do they do and what generation of management is currently heading
When buying an established business, what protections can be put into place to keep the staff and to ensure the executive team that leaves does not open a competing business?
How does purchasing a franchise differ to buying an established business? What limitations does buying a franchise place on an entrepreneur?
What are the advantages of buying an ongoing business? Explain them.
What are the two major risks that confront a new venture start-up that can be avoided by purchasing an established business?
Not all entrepreneurs start just with an idea and little else. Name three other pathways into entrepreneurship and describe the advantages of each.
How does a new-old approach differ from the new-new pathway to starting a new venture and what are the advantages of the new-old approach?
How does the new-new approach to starting a new venture differ from bootstrapping? Provide examples for your answer.
What has given rise to minipreneurs and what kinds of businesses are they engaged in?
What are some examples of bootstrapping that you could use in your business idea?
What features distinguish a social venture from a conventional business and what would motivate an entrepreneur to take this pathway?
Discuss how personal preferences may influence the type of entrepreneurial pathway an entrepreneur may choose.
What are the physical places or technology fields in the twenty-first century that may parallel setting sail to a distant land in the nineteenth century? Using the story as an analogy, what hazards
What lessons could be drawn from this case for pioneering entrepreneurs today? What would be the moral to this story?
Should history judge Boyd as a failed entrepreneur? If so, was failure due to his own devices or was he a victim of circumstances?
Referring to the discussion of traits in Chapter 2, was Boyd’s irrepressible optimism actually just bloody-minded ignorance?
Given the mores of the time, was Boyd an ethical entrepreneur?
Consider such things as natural resources, labour, money and social pressures and discuss the points that undermined the sustainability of Boyd’s various ventures.
How would you describe or define the opportunity that attracted the entrepreneur Benjamin Boyd to venture to Australia? Was the idea well grounded?
Which statement do you agree with:a Entrepreneurs are destroyers, so it follows that the business activities of entrepreneurs must be severely regulated and that someone must be empowered to do the
Would you support sending a rocket into space, spreading a few million tonnes of sulphur dioxide particles, and cooling the Earth that way?
Would you agree with Michael Specter of the The New Yorker magazine that Russ George is a geo-vigilante? Or do you believe that humans do much worse than this every day and so doing something
Each group should present their code of ethics to the class and discuss major outcomes of their discussion.
Members of the group should then role-play the process of handling an ethical issue with a customer, with a supplier, with a competitor and with the son of the owner. Discuss the results of the
List as many ethical problems as possible that might be faced by employees during a normal work day.Discuss possible solutions for the problems. Consider how a procedure guide might help employees to
Discuss policies and procedures appropriate for this business that would support the code of ethics.
Develop a 10-point code of ethics for the business.
Identify problems the entrepreneur might encounter in running this business in an ethical manner.
Describe ecopreneurship and think of three real-life examples.
What are the elements of a definition of Indigenous peoples?
What are the barriers and restraints that disadvantaged entrepreneurs face?
What are some of the advantages that differently-abled entrepreneurs might have?
Is it possible that disadvantaged people can actually become more entrepreneurial than other people?
What is social marginality theory?
Do you have experience in dealing with an entrepreneurial criminal?
What are your opinions on the issues of greed and entrepreneurial crime?
As an Australian or a New Zealander, would you pay bribes while doing business in China?
Why does doing business in certain Asian countries raise ethical considerations for the entrepreneur?
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 WiFi hacking.
Using your own words and experiences, what do you mean when you use the term ‘ethics’?
Name three dimensions that distinguish the mindset of social entrepreneurs from that of business entrepreneurs.
Name some social businesses that have no donated income from charity, taxes, grants or subsidies(see Figure 3.1).
Can you identify some social entrepreneurs in your community?
Should Mrs Villaviray have found out more information before approaching the BPRE and does she know enough to enter into this venture? How does this behaviour match with the characteristics of an
What aspects of entrepreneurial mind and behaviour would make Mrs Villaviray think to approach the BPRE and not the bank first for assistance and what is it about Mrs Villaviray that would give the
What aspects of this case demonstrate the entrepreneurial mind and behaviour of Mrs Villaviray?
Given the profile of your recommended applicant, what other support might you suggest that the applicant would benefit from to strengthen their capabilities and likelihood of success?
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