Question

Q1) Entrepreneurs are the corner stones of most new small businesses. It is crucial to keep their passion nourished in order to increase the success rate of start-up ventures.

Use your own words to answer the following:

a. What is an entrepreneur?

b. Give a brief profile of a typical entrepreneur.

c. What is the primary motivation for the typical entrepreneur?

Q2) The ongoing surge in entrepreneurial activity is being led by various specific groups around the globe.

a. List down the nine most important of these groups.

b. Discuss the role of the following groups in deriving the entrepreneurial activity:

women

home-based entrepreneurs

family businesses

copreneurs

corporate dropouts

Q3) Briefly explain the differences between the left and right sides of the brain.

Q4) Referring to the concept of creativity thinking, answer the following:

a. List five ways entrepreneurs can stimulate their own creativity and encourage it among workers.

b. List and briefly explain the seven steps in the creative process and discuss the step that you consider to be the most critical.

Q5) What advice would you offer an entrepreneur on how to create the mission statement for his or her company?

Q6) Assume you own a small shoe store. Discuss the three different types of competition you might face and give examples of each.

Q7) What are some of the most important questions a feasibility analysis answers and what model may be of value in this process?

Q8) List some of the most important "business plan mistakes" that could be potential fatal errors to an entrepreneur.