1) Use the example of a small business your now of and/or one that represents your area of interest and study (e.g. Forestry). Describe the entrepreneurial opportunity behind the business to the best of your ability in terms of its innovation in products or services, size and other attributes of the business and its owner that. Describe the environment in which this business operates and discuss its competitive advantage and other structural factors that manifests the entrepreneurial strength of this company and/or its owner (the entrepreneur).

2) The primary motivation for starting a new business should be to make as much money as possible. Discuss this statement.

3) Some say entrepreneurs should avoid hiring mediocre people. Discuss why (or not) this statement is valid.

4) Explain how someone could be a manager but not a leader, a leader but not a manager, or both a leader and a manager. Discuss the linkage between managing, leading and entrepreneurship.