Venture Planning Questions

  1. Write a paragraph to explain why an entrepreneur’s accumulated work experience is an important source for the generation of new business ideas.
  2. What is the value, to an entrepreneur, of becoming a specialist and developing human capital within specific fields of work?
  3. Explain the main activities of the entrepreneurial process.
  4. Explain the notions that emerge from evaluating the nature of the creative process.
  5. Explain the following important organizational processes: organizational learning and opportunity discovery. How are these interrelated?
  6. Describe how the characteristic of extraversion is linked to the number of opportunities recognized by the entrepreneur.
  7. What happens if an entrepreneur is not ready to take on the entrepreneurial challenge that they outlined in their business description?
  8. Describe methods entrepreneurs can use to “get a feel” for their market while they are trying to envision future growth for their business idea. Provide an example.
  9. List the 8 tasks an entrepreneur pursues to develop a good idea into one that can be executed and developed into a profitable business. Define the three you think are the most valuable and state why.
  10. Explain why a good idea does not always translate to a good business opportunity.
  11. Does the pattern recognition perspective for entrepreneurs characterize that exposing students to case studies is a good idea or bad idea? Write a paragraph agreeing or disagreeing with this point of view.
  12. Many models of pattern recognition exist. On what basic point do they all agree?
  13. Write a paragraph defining “business feasibility study,” and explaining its purposes.
  14. When writing a business feasibility study, what three core components should your financial projections include/describe? Why is this section important?
  15. When writing a business feasibility study, what three things should your production/operating requirements include/describe?
  16. Write a paragraph explaining why demographic data is key to a feasibility analysis. What data might it include?
  17. List all of Porter’s Five Forces of Competitive Position Analysis. Define two and talk about the possible sixth force.
  18. Define and discuss the collection and uses of primary vs. secondary data.

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