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Thread: MBA - Module - Entrepreneurship

  1. #141

    Post Discussion questions for chapter 06

    DISCUSSION QUESTIONS FOR CHAPTER 06


    1. In your own words, what is meant by the term ethics?

    2. Ethics must be based more on a process than on a static code. What does this statement mean? Do you agree? Why or why not?

    3. A small pharmaceutical firm has just received permission form the authority body to market its new anticholesterol drug. Although the product has been tested for five years, management believes serious side effects may still result from its use; and a warning to this effect is being printed on the label.

    If the company markets this FDA-approved drug, how would you describe its actions from an ethical and legal standpoint?. Use LaRue Hosmer (Overlap Between Moral Standards and Legal Requirements) to help you.

    4. Mr X, the leading salesperson for a small manufacturer, has been given purchasing managers a kickback from his commissions in return for their buying more of the company’s goods. The manufacturer has a strict rule against this practice.

    Using the Henderson’s Figure (image attached) - Source: Verne E. Henderson, "The Ethical Side of Enterprise," Sloan Management Review (spring 1982):p.42.

    What would you suggest the company do about it?

    5. Explain the distinct roles managers may take in rationalizing morally questionable acts “against the firm” or “on behalf of the firm.” Be complete in your answer.

    6. What is a code of conduct, and how useful is it in promoting ethical behavior?

    7. Describe carefully the differences between immoral, and moral management. Use the image attached (Ethical Dilemmas for Entrepreneurs) in your answer.

    8. Why do complex decisions often raise ethical considerations for the entrepreneur?

    9. Social responsibility can be classified into three distinct categories. Describe each category, and discuss the efforts of entrepreneurs to become more socially responsible.

    10. Describe the critical threat to our environment as a major challenge of social responsibility.

    11. What is “ecovision”? Outline some specific recommendations for entrepreneurs to consider that promote environmental awareness.

    12. How can entrepreneurs develop a position of ethical leadership in business today?

    13. Madam K believes entrepreneurs need to address the importance of ethics in their organizations. However, in her own company she is unsure of where to begin because the entire area is unclear to her.

    What would you suggest?
    Where can she begin?
    What should she do?

    Be as practical as you can in your suggestion.
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  2. #142

    Default Discussion questions for chapter 07

    DISCUSSION QUESTIONS FOR CHAPTER 07





    1. To assess the economic environment of a venture, an entrepreneur would like a number of questions answered. Identify and discuss five of these questions.

    2. Briefly discuss each of the following effects of the governmental regulations on small ventures; prices, cost inequities, competitive restrictions, managerial restrictions, mental burdens.

    3. How does each of the following legislative acts affect small ventures?

    (a) the Regulatory Flexibility, Act
    (b) the Equal Access to Justice Act
    (c) the Small Business Regulatory Enforcement Fairness, Act
    (d) the Unfunded Mandates Reform Act

    In providing the answers to the respective items; a, b, c, and d; you also can relate with your own country’s legal Act but you have to provide to the document material of it e.g. web site URL, PDF file, etc.

    4. Of what value is “Elements of Industry – The Five Forces Model” (image attached) to helping an entrepreneur make a new-venture assessment?

    5. What are barriers to entry? How do they affect new-venture assessment?

    6. How could an entrepreneur use “Components of a Competitive Analysis” (image attached) to conduct a competitive profile analysis?

    What would the results provide?

    What types of decisions could the individual make from the analysis?

    7. Identify and describe four of the steps to take when making an industry assessment?

    8. How can an entrepreneur go about researching the location for a venture?

    What information can community demographics and population trends provide?

    9. Discuss this statement: One method of evaluating a community is in terms of reliance and deservedness.

    10. What is a business incubator?

    What are the four major types of incubators?

    11. Of what value is a business incubator to a new venture? Explain in detail.
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  3. #143

    Post Discussion questions for chapter 08

    DISCUSSION QUESTIONS FOR CHAPTER 08


    1. In your own words, what is a market? How can marketing research help an entrepreneur identify a market?

    2. What are the five steps in the marketing research process? Briefly describe each.

    3. Which is of greater value to the entrepreneur, primary or secondary data? Why?

    4. Identify and describe three of the primary obstacles to undertaking marketing research?

    5. How would an entrepreneur’s new-venture strategy differ under each of the following marketing philosophies: production-driven, sales-driven, consumer driven? Be complete in your answer.

    6. In your own words, what is market segmentation? What role do demographic and benefit variables play in the segmentation process?

    7. Identify and discuss three of the most important personal characteristics that help an entrepreneur identify and describe customers. Also, explain how the product life cycle will affect the purchasing behavior of these customers?

    8. Identify and discuss three of the psychological characteristics that help entrepreneur identify and describe customers. Also, explain how the product life cycle will affect the purchasing behavior of these customers?

    9. How does the way consumer’s view a venture’s product or service affect strategy?

    For example, why would it make a difference to the entrepreneur’s strategy if the consumers viewed the company as selling a convenience good as opposed to a shopping good?

    10. Identify and describe four of the major forces shaping buying decisions in the new century.

    11. Most emerging ventures evolve through a series of marketing stages? Identify and describe each.

    12. What does the entrepreneur of an emerging venture need to know about sales research and a marketing information system?

    13. For developing a marketing plan, what are the five steps that are particularly helpful? Identify and describe each.

    14. How does telemarketing work? What are its advantages? What are its pitfalls? Why is it likely to be a major marketing tool in the new century?

    15. Describe the benefits and concerns of marketing on the internet. Be specific in your answer.

    16. What are some of the major environmental factors that affect pricing strategies? What are some of the major psychological factors that affect pricing? Identify and discuss three of each.
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  4. #144

    Post Discussion questions for chapter 10

    Discussion Questions for CHAPTER 09

    DISCUSSION QUESTIONS FOR
    CHAPTER 10


    1. What are the critical factors to be considered when preparing a business plan?

    2. Describe each of the five planning pitfalls entrepreneurs often encounter.

    3. Identify an indicator of each pitfall named in question 2. What would you do about each?

    4. Identify the benefits of a business plan;

    (a) for an entrepreneur, and
    (b) for financial resources.

    5. What are the three major viewpoints to be considered when developing a business plan?

    6. Describe the six-step process venture capitalists follow when rendering a business plan?

    7. What are some components to consider in the proper packaging of a plan?

    8. Identify five of the ten guidelines to be used for preparing a business plan?

    9. Briefly describe each of the major segments to be covered in a business plan.

    10. Why is the summary segment of a business plan written last? Why not first?

    11. What are five elements included in the marketing segment of a business plan?

    12. What are some critical factors covered in the management segment of a business plan?

    13. What is the meaning of the term critical risks?

    14. Describe each of the three financial statements that are mandatory for the financial segment of a business plan.

    15. Why are milestones important to a business plan?
    Last edited by michaeldadona; 18-12-09 at 06:06 PM.
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  5. #145

    Default Discussion questions for chapter 11

    DISCUSSION QUESTIONS FOR CHAPTER 11

    1. Explain the challenges involved in new-venture development.

    2. Describe some of the key factors involved in new-venture performance (use the attached image: The Elements Affecting New-Venture Performance)

    3. Many entrepreneurs lack objectivity and have no real insight into the market. Why are these characteristics considered pitfalls of selecting new ventures.

    4. Many entrepreneurs have a poor understanding of the finance associated with their new venture and/or have a venture that lack uniqueness. Why are these characteristics considered pitfalls of selecting new ventures.

    5. Describe each of the five critical factors involved in the prestart-up and start-up phases of a new venture.

    6. Identify and discuss three examples of product/market problem that can cause a venture to fail.

    7. Identify and discuss two examples of financial difficulties that can cause a venture to fail.

    8. Identify and discuss two examples of managerial problems that can cause a venture to fail.

    9. List four major types of problems new ventures confront.

    10. Describe the proposed “failure production” model for newly founded firms.

    11. How can asking the right questions help an entrepreneur evaluate a new venture?

    12. Explain how a feasibility criteria approach works.

    13. Explain how a comprehensive feasibility approach works.

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  6. #146

    Post Discussion questions for chapter 12

    DISCUSSION QUESTIONS FOR CHAPTER 12

    1. Identify the legal forms available for entrepreneurs structuring their ventures.

    2. Define each of the following: sole proprietorship, partnership, and corporation.

    3. What are the specific advantages and disadvantages associated with each primary legal form of organization?

    4. Compare the major tax considerations of a partnership with those of a corporation.

    5. What is ULPA? Describe it.

    In answering this type of question, you also can relate the material content with your country’s governing Act. which is a similar to ULPA.

    6. Name three specific types of partners. How do they differ?

    7. Explain the limited liability partnership.

    8. What is the double taxation corporation face?

    9. How does a limited partnership work? Give an example.

    10. What is the nature of S Corporation? List five requirements for such a corporation.

    11. Define each of the following: foreign corporation, non-profit corporation, professional corporation, and close corporation.

    12. What is a limited liability company?

    13. What are the advantages and disadvantages of franchising?

    14. Identify the UFOC. Explain why it is important in franchising.

    15. What are four key questions to be considered by entrepreneurs before structuring their venture?
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  7. #147

    Post Discussion questions for chapter 13

    DISCUSSION QUESTIONS FOR CHAPTER 13

    1. In your own words, what is a patent? Of what value is a patent to an entrepreneur? What benefits does it provide?

    2. What are four basic rules entrepreneurs should remember about securing a patent?

    3. When can a patent be declared invalid? Cite two examples.

    4. If a patient is infringed on by a competitor, what action can the patent holder take?

    5. In your own words, what is a copyright? What benefits does a copyright provide?

    6. How much protection does a copyright afford the owner? Can any of the individual’s work be copied without paying a fee? Explain in details.

    If an infringement of the copyright occurs, what legal recourse does the owner have?

    7. In your own words, what is a trademark? Why are generic or descriptive names or words not given trademarks?

    8. When may a trademark be invalidated? Explain.

    9. What are three of the pitfalls individuals should avoid when seeking a trademark?

    10. How can an entrepreneur find out if the business is going bankrupt? What are three early warning signs?

    11. What type of protection offer to a bankrupt entrepreneur?

    12. How does a bankruptcy entrepreneur deals with straight bankruptcy?

    13. How does a bankruptcy entrepreneur reorganize business?

    (to make good answers to questions 11, 12, and 13 you must understand profoundly Chapter 7, 11, and 13)
    Last edited by michaeldadona; 19-12-09 at 03:50 AM.
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  8. #148

    Post Discussion questions for chapter 14

    DISCUSSION QUESTIONS FOR CHAPTER 14

    1. Image 1: Source of Fund/Finance (attached below); outline some of the most notable sources of capital for entrepreneurs. Identify four of these sources.

    2. What are the benefits and drawbacks of equity and of debt financing? Briefly discuss both.

    3. Identify and describe four types of debt financing.

    4. If a new venture has its choice between long-term debt and equity financing, which would you recommend? Why?

    5. Why would a venture capitalist be more interested in buying a convertible debenture for $100,000 than in lending the new business $100,000 at a 10 percent interest rate?

    6. What are some of the advantages of going public? What are some of the disadvantages?

    7. Why do entrepreneurs look forward to the day when day can take their company public?

    8. How large is the venture capital pool today? Is it growing or shrinking?

    9. Is it easier or more difficult to get new-venture financing today? Why?

    10. Some entrepreneurs do not like to seek new-venture financing because they feel that venture capitalists are greedy. In your opinion, is this true? Do these capitalists want to much?

    11. Identify and describe three objectives of venture capitalists.

    12. How would a venture capitalist use (Image 2: Venture Capitalist System of Evaluating Product/Service Management) attached below, to evaluate an investment? Use an illustration in your answer.

    13. Identify and describe four of the most common criteria venture capitalists use to evaluate a proposal.

    14. Of what value is Image 3: ROI Typically Sought By Venture Capitalist (attached below); to new-venture entrepreneurs?

    15. In a new-venture evaluation, what are the four stages through which a proposal typically goes? Describe each in detail.

    16. An entrepreneur is in the process of contacting three different venture capitalists and asking each to evaluate the new business proposal. What questions should the business proposal owner be able to answer about each of the three?

    17. An entrepreneur of a new venture has had no success in getting financing from formal venture capitalists. An entrepreneur now has decided to turn to the informal risk capital market.

    Who is in the market?
    How would you recommend the entrepreneur contact these individuals?

    18. How likely is it that the informal risk capital market will grow during the next five years? Defend your answer.

    19. Of all the sources of capital formation, which is ideal? Why?
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  9. #149

    Post Discussion questions for chapter 15

    DISCUSSION QUESTIONS FOR CHAPTER 15

    1. In what way does an entrepreneur’s vision affect the company’s strategic plan?

    2. How is the strategic plan of an entrepreneur likely to be different from that of an entrepreneur whose primary strength is in the manufacturing area? Be complete in your answer.

    3. What are the three basic steps involved in transforming entrepreneurial vision and ideas into action?

    4. Give three reasons why many entrepreneurs do not like to formulate strategic plans.

    5. Describe five difficulties entrepreneurs face in long-range planning.

    6. Does strategic planning really pay off for small ventures? Why or why not?

    7. A new-venture entrepreneur is considering formulation of a strategic plan. However, entrepreneurs are concerned this effort will have little value for them. Are they right or wrong? Explain.

    8. How can an entrepreneur use an opportunity management approach when formulating and implementing a strategic plan? Discuss the process

    9. What are the advantages of an opportunity management approach to strategic plan?

    10. What types of ventures are most likely to profit from an opportunity management approach to strategic planning?

    11. How does the milestone planning approach to strategic planning work?

    12. What types of ventures might profit from the use of a milestone planning approach?

    13. Describe the entrepreneurial strategy matrix and explain why it is effective for entrepreneurs.

    14. What benefits does the multistage contingency approach offer to new-venture entrepreneurs?

    15. What is operational planning? What specific tools are used?

    16. How does operational planning fit with strategic planning?
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  10. #150

    Default Discussion questions for chapter 16

    DISCUSSION QUESTIONS FOR CHAPTER 16

    1. Briefly identify and describe the stages of development for a new venture.

    2. Firms that fail to innovate will die. What does this statement mean in the context of new ventures?

    3. What are the dangers of an entrepreneur evolving into a bureaucrat?

    4. How can entrepreneurs build an adaptive firm? Be complete in your answer.

    5. Successful ventures balance entrepreneurial characteristics with managerial style. What does this statement mean?

    6. Comparing the entrepreneur focus with the administrative focus involves five major areas of consideration. What are the areas?

    7. How can the self-management concept be of value to entrepreneurs in managing the growth stage?

    8. Identify and describe the four key factors that need to be considered during the growth stage?

    9. What is meant by managing paradox and contradiction?

    10. Identify some examples of conflicting designs of structural factors. (Use the attached image below as reference: Conflicting Designs of Structural Factors)

    11. Describe the concepts of networking and responsibility-charting, and explain their potential for improving entrepreneurs’ decision-making abilities.

    12. Why is delegation so important to entrepreneurs who are making the transition from an entrepreneurial venture to the diversified operations of the growth stage? Explain in detail.

    13. Explain the concept of entrepreneurial leadership and list some of its key components.
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