Answer the Application Question below (500 words):
According to materials in this chapter, prior entrepreneurial experience, relevant industry experience, and networking are attributes that strengthen a person’s chances of launching a successful venture. Think about the type of company you might choose to launch one day. Which of these three attributes do you possess? What steps can you take today (and shortly in the future) to build strengths in the areas where you lack them?
Assignment for class – MGT 330 – Entrepreneurship
Textbook: Entrepreneurship: Successfully Launching New Ventures, 6th Edition. Barringer and Ireland. Published by Pearson/Prentice-Hall.
Read Chapter Notes (attached) – Introduction to Entrepreneurship
Chapter Reflection/Summary (600 words):
A summary of the main chapter points (500 words) using your own words and a brief (100 word) personal reflection of what was personally most interesting or useful to you from the chapter.
3. Answer the Application Question below (500 words):
One question that is often asked by people thinking about launching an entrepreneurial venture is “what should the first-time entrepreneur know before they launch?” Based on this chapter, what should entrepreneurs know before they commit to launching their firm?
Choose a country that has a national innovation policy and critically evaluate it.
Critically analyze the methods by which a company can recognize opportunities and generate ideas for new products.
Discuss the theory of entrepreneurship by Knight and contrast it with other theories of entrepreneurship.
Explain how exogenous shocks can increase entrepreneurial uncertainty.
Give examples and critically discuss your answers.
What is entrepreneurial failure?
How can economic and management theories help us to explain firm exit
during Covid-19? Give examples and critically discuss your answers.
What is the difference between opportunity-based and necessity-based entrepreneurship?
How are they linked to economic development? Give examples and critically discuss your answers.
What difficulties do new start-ups face in raising equity finance during times of crisis?
Critically discuss how this might differ in the case of start-ups and established firms.
What is the potential impact of a war on entrepreneurship? Critically explain your answer.
Can entrepreneurs make use of game theory? Critically discuss your answer and give examples to support your arguments
Academic debates in Small Business and Entrepreneurship:Discuss?
What is a solution for this particular issue? justify your answer by providing concrete examples from your work place.
Write an approximately 1800 word, APA formatted, with three sources. reflect not only on the presented articles but on the ones, you find online or in our library.
s://www.youtube.com/watch?v=gkLsn4ddmTs
Creating a 21st Century Workforce: Entrepreneurship, Apprenticeship, and Life Long Learning https://www.youtube.com/watch?v=5USCz1OktDo
Lennon, C. (2016). What Is The Career Readiness Crisis And How Is It Affecting Young People Today? Retrieved from http://www.forbes.com/sites/jpmorganchase/2016/02/12/what-is-the-career-readiness-crisis-and-how-is-it-affecting-young-people-today/#e3bbb2156ac1
How can UK enterprise policy be improved?
Compare and contrast different elements
Explain how different elements fit together
Show your understanding of relationships
Evaluation: to judge the success or failure of something, its value
How convincing is an argument, what is its value?
What are the implications of an argument?
Evaluations lead us to conclusions or recommendations
Question #1 – Entrepreneurial Challenges (answer a minimum of 100 words for this ENTIRE question – not for each challenge) The theme this week deals with the creation of a new venture and managing that new business.
Based on the videos, readings, and your own experience/knowledge, what are the TOP TEN biggest challenges facing an entrepreneur starting a new business (and explain why, for each issue)?
List these TEN challenges in order of priority and place an importance factor on each challenge (a number 0-100, with 100 signifying an enormously important challenge).
Some students argue that it depends on the type of venture, and if you believe this to be true, then select a specific type of venture, identify it, and answer the question.
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Question #2 – Challenges Managing New Venture (answer a minimum of 100 words for this ENTIRE question – not for each Challenge) Same as question #1 except regarding the MANAGING of a new venture.
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Question #3 – Unconscious Incompetence (answer a minimum of 100 words for this question) Assume the role of a business consultant who specializes in entrepreneurship, and explain how unconscious incompetence applies to entrepreneurship (be sure to address how unconscious incompetence can seriously impede entrepreneurial activity and venture survival/performance).
Question #4 – Risk Factors (answer a minimum of 100 words for this ENTIRE question – not for each risk) Based on what you know, and the material presented in the course thus far, what are the TOP TEN risks associated with starting a new business, and why? Just like in the previous questions, place in order of priority and place a degree of importance/severity on each risk factor. (Hint: some people think the biggest risk is sunk salary you could have earned, or damage to ego, or wasted time, or damaged reputation, or letting down one’s family, or being sued, or going to jail, etc, etc.)
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Question #5 – Professional Support Team (answer a minimum of 100 words for this question) Explain the importance of a professional support team for new ventures, and how would you suggest the new team (attorneys, accountants, consultants, suppliers, etc.) be formed (who do you acquire first, when, etc.)?
Question #6 – Video Favorite (answer a minimum of 100 words for this question) This week there was a large quantity of videos (and readings) assigned to explore the very essence of entrepreneurship (the word – the concept). Which of these videos most resonated with you in regard to understanding entrepreneurship (and why)?
Question #7 – Team Contribution (answer a minimum of 100 words for this question) Assess the contribution of each team member thus far in the semester. How exactly have they contributed, and how valuable have their contributions been? What needs to be done to make your team work more effectively and perform better? Compared to other team members, what is the value of your contribution to the team thus far in the semester?
250 words =1 page
100* 7 questions =700
therefore 3 pages =750
