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7 -Problem: 2 >> What are three ways you can preserve the confidentiality of your trade secrets?
Answer: You can maintain confidentiality by 1…

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8 -Problem: 6 >> Interview an entrepreneur who started a venture as a soloist, and then visit an entrepreneurial venture started by a team (two or more people). Based on your interviews, write a two-page report discussing the advantages and disadvantages of each approach for the particular businesses you visited.
Answer: If the student wishes to do a direct comparison, h…

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2 -Problem: 7 >> Entrepreneurship is a journey, and many people contribute to that journey. Begin a contact portfolio that will contain the names of all the people you meet as you network. Record their contact information, how you met them, and what they contributed to your journey. Strive to meet three to five new contacts a week.
Answer: Three to five strangers a week is a lofty goal, but I have found that …

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7 -Problem: 1 >> Of the three categories of knowledge, which category has legal rights associated with it and what are those rights?
Answer: Intellectual property carries excusi…

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12 -Problem: 5 >> Interview an entrepreneur with a product company about his or her views on quality. How is this entrepreneur implementing quality control in his or her organization?
Answer: This is a very open ended question and the answer will depend on the individual entrep…

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3 -Problem: 3 >> What is the value of early and thorough product definition?
Answer: When you first have an idea for a new product, its important to take ti…

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1 -Problem: 1 >> 1. Describe the background of AdRoll.2. Perform a SWOT Analysis of AdRoll.3. What was the core business level strategy that AdRoll used? Is this an appropriate strategy? If not, what would you recommend?4. Did AdRoll have a competitive advantage? If so what was the competitive advantage? Was the competitive advantage a sustainable competitive advantage? Why? If not, why?5. What areas do you see as
Answer: 1. AdRoll was founded in 2007 as a means to make advanced display advertising techniques available for brands of all sizes. In 2013, the original founders were still at the company along with two addi…

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9 -Problem: 6 >> Make a list of all the sources of friendly money you can tap to start a new business. Be sure to include your personal resources. How much startup money could you reasonably raise? At what points in the development of your business will you need what types of capital?
Answer: They should consider at what points their particular venture is likely …

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7 -Problem: 3 >> What actions can you take that will cause you to infringe another company’s trademarks?
Answer: You can infringe anothers t…

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5 -Problem: 5 >> Compare and contrast the business models of two early-stage companies. How are their business models sources of innovation for the company?
Answer: Students will probably want to compare two companies in the same industry. It would be im…

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6 -Problem: 5 >> Interview an entrepreneur who uses the lean approach to new product development. How did they test their MVP?
Answer: When interviewing an entrepreneur who uses the lean approach to new pro…

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2 -Problem: 6 >> Identify an entrepreneur who is leading the kind of personal and business life that you aspire to lead. Interview that person to find out more about how he or she achieved that lifestyle. During the interview, and ONLY if the two of you have developed a rapport, approach the entrepreneur about the possibility of becoming your mentor.
Answer: Encourage students to think boldly about whom they might want to interview. It is probabl…

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5 -Problem: 4 >> What are some ways to innovate in a business model?
Answer: Four ways to innovate are eliminate something that the in…

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12 -Problem: 6 >> Choose a young company that has a global supply chain. Develop a process flow chart depicting the supply chain, and analyze it for efficiency and flexibility based on information provided in the chapter.
Answer: The company chosen for this exercise is Tesla. Tesla is a young company that has developed a global …

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13 -Problem: 5 >> Visit an entrepreneur whose business is set up as a partnership. How do these partners describe the experience of setting up the business? How have they divided up the duties and responsibilities? What key issues have they covered in their partnership agreement? Summarize your findings in a two-or-three-page paper.
Answer: he experience of setting up a business as a partnership can be both exciting and daunting at the sam…

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6 -Problem: 6 >> Interview an entrepreneur who outsourced his or her product development overseas. What challenges did they face? Is outsourcing typical in this industry? Was this a good decision? Why? Why not?
Answer: The entrepreneur I interviewed who outsourced their product development overseas faced a range o…

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7 -Problem: 5 >> Under what circumstances would you decide to patent your new technology?
Answer: You would decide to patent if 1) Your invention met all the requirements for …

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17 -Problem: 2 >> What questions should you ask at each level of a new venture’s growth?
Answer: Startup: Do I have a compelling solution that meets a …

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7 -Problem: 4 >> What types of assets in your business might you want to protect with copyrights?
Answer: You would want to protec…

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7 -Problem: 6 >> Visit the U.S. Patent Office at www.uspto.gov. Pick a patented invention that interests you and for which a product has been developed and commercialized. Alternatively, start with a patented product and go back to find the original invention patent.  Students should read the summary of the patent and the key claims specified to the best of their ability.
Answer: I chose a patented invention called the " Smart Speaker System " developed and commercial …

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4 -Problem: 1 >> 1.  What problem is VTL trying to solve? How does VTL solve this problem?2. What accounts for VTL’s early and quite substantial success?3. Identify the central lessons of the Sacramento experience, and clarify how those lessons should inform VTL’s next moves.4. How does VTL’s status as a non-profit hinder or help its growth prospects?5. What business problems is VTL facing at the end of the case?
Answer: 1. For many students, the most obvious problem addressed by VTL is the very large number of children who lack access to professional eye care and, consequently, do not get the glasses that they need t…

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16 -Problem: 3 >> Contrast funding with equity and funding with debt or non-dilutive sources.
Answer: When someone invests money in a venture, it is normally done to gain an ownership share in the busin…

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1 -Problem: 4 >> Describe the current environment for entrepreneurship. Compare that environment to another country in a different part of the world. To introduce this topic, you might want to have students look at the current GEM (Global Entrepreneurship Monitor) study, arguably the most comprehensive on entrepreneurship at a global level. It can be found at https://www.gemconsortium.org/
Answer: But in general, the current environment is providing more opportuni…

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1 -Problem: 1 >> 1.  Describe the background of AdRoll to insure that the facts of the case are clear in preparation for strategy questions.

2. Perform a SWOT Analysis of AdRoll.

3.  What is the current business-level strategy that AdRoll uses? Is this the appropriate strategy? If not, what would you recommend? What other strategies are they using? For example, what types of functional (Finance, Marketing, Managem
Answer: 1. AdRoll was founded in 2007 as a means to make advanced display advertising techniques available for brands of all sizes. In 2013, the original founders were still at the company along with two addi…

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15 -Problem: 5 >> How do you define your personal success? How can your definition be applied to your business?
Answer: My personal definition of success is achieving my …

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1 -Problem: 1 >> Define the term entrepreneurship.
Answer: Entrepreneurship is a mindset or way of thinking …

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5 -Problem: 6 >> Suppose you intend to start a theme restaurant that can be replicated and franchised. Based on an analysis of some existing theme restaurants, what types of revenue streams could this business generate?
Answer: The types of revenue streams that this business could gener…

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10 -Problem: 5 >> Interview someone who invests in small businesses (generally an angel investor) about what she or he looks for in a business plan. On the basis of your discussion, what will you need to remember when you write your business plan?
Answer: When interviewing an angel investor about what they look for in a business plan, you will likely l…

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15 -Problem: 6 >> Choose an industry that interests you and interview a manufacturer, a distributor, and a retailer about the code of ethics in that industry. In a two-page report, discuss whether these three industry players agree on the ethics of the industry.  If so, what are those ethics?  If not, how are these unethical behaviors affecting the industry?
Answer: Introduction The purpose of this report is to discuss the code of ethics in an industry of interest , and to compare the views of a manufacturer , a d…

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11 -Problem: 7 >> Choose an industry in which you have an interest. Find a business in that industry and do the following: (1) Arrange to visit the business and talk with key personnel; (2) Do a flowchart of the business process that reflects what you learned on your visit. Did you find any inefficiencies that, if corrected, could improve the process flow?
Answer: Follow the business process from order taking to customer …

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11 -Problem: 1 >> How can design thinking principles be employed to organize your business?
Answer: Design thinking methodology looks at the entire business a…

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15 -Problem: 1 >> Do you believe that your code of ethics should remain firm in any situation? Why or why not?
Answer: This is a question that should stimulate a provocative discussion in class and easily …

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3 -Problem: 6 >> Spend an afternoon walking around your community or your university or college campus. Don’t look for anything in particular. Simply observe the things that you don’t normally pay attention to when you’re in a hurry. Watch people—what they do and don’t do. At the end of the afternoon, write down all the thoughts that come to you based on your afternoon of observation. Which of these ideas could po
Answer: One potential business opportunity from my afternoon of observation is …

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3 -Problem: 2 >> Identify the challenges you face in becoming more creative. What three things will you do to address those challenges?
Answer: 1 . Over thinking : To address this challenge , I will practice mindfulness by focus…

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3 -Problem: 1 >> 1. Discuss the childhood, background, education, and personality of Andrew Mason. How did these factors play into the Groupon opportunity?2. What strategies did Mason and Groupon employ to grow their business?3. In what industry(ies) does Groupon compete? What companies does Groupon compete against? What is Groupon’s competitive advantage?4. What were the major problems facing Groupon, Inc. in 201
Answer: 1. At just 31 years of age, Andrew Mason was the CEO of Groupon. Mason has a somewhat unique background and interesting personality. He has a casual style and is a very humble person. Mason has a grea…

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2 -Problem: 1 >> 1. Who are CleanBeeBaby’s target customers, and what is the value proposition that CleanBeeBaby offers? What problem is Beall solving?2. Why does it matter that smaller retailers are experiencing much higher sales on days when Beall visits?3. If CleanBeeBaby’s service is so great, why aren’t others doing it?4. If CleanBeeBaby can’t be replicated easily, then is it a good idea for Beall to pursue a
Answer: 1. This question allows students to address the cases low hanging fruit very quickly. Many will (rightly) label the companys targets as parents (often mothers) of very young children, most of whom hav…

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4 -Problem: 8 >> Pick a product or service that interests you, and formulate a plan for researching customer needs. Identify what information must be collected (secondary and primary) and how to collect it. Justify the plan in a two-page report.
Answer: You might want to begin by having the students graphically depict the value chain for the specific …

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8 -Problem: 5 >> Suppose you are starting an apparel company where you will design and manufacture a unique line of clothing. What kinds of independent contractors can help you start this venture?
Answer: You can outsource to in…

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16 -Problem: 7 >> Interview an angel and a banker to learn what his or her expectations are when reviewing business plans for new ventures. In a two-page report, compare their criteria for choosing to fund or not fund the new business.
Answer: Interviewing both an angel and a banker enables the student to compare and contrast the n…

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16 -Problem: 6 >> Make a list of all the sources of friendly money--including your personal resources--that you can tap to start a new business. How much startup money could you reasonably raise?
Answer: They should explain how they arrived at how much money is needed to start t…

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17 -Problem: 5 >> You are launching a business to create custom, short-form documentary films for businesses that want to use these films to engage with their customers to inform, to advise, to entertain, and to encourage loyalty for their company or brand. You know that once you have a core group of customers, growth will likely come quickly due to referrals. Sketch out a plan for growing the business. You can use
Answer: Here is a suggested plan for growing the business: Initial stage: Offer a limited selection of custo…

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12 -Problem: 2 >> What are three factors that an entrepreneur must take into consideration when choosing vendors to meet materials requirements?
Answer: Factors to consider when choosing vendors include: 1) Can the …

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2 -Problem: 2 >> How do corporate entrepreneurs differ from other types of entrepreneurs?
Answer: Corporate entrepreneursthose who act like entrepreneurs inside large companiesare distinct from other entrepreneurs in that they take on projects for their firms that the company would normally not touch. That is because these projects involve activities that are typically new to the company, so the risk of failure is high, or outside the companys core competencies. Such projects operate under a high degree of uncertainty, so they are often managed separately from the core business activities. Recognizing that it is nearly impossible to re-engineer and redesign an entire organization, many companies …

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15 -Problem: 3 >> In addition to the suggestions given in the chapter, name two ways your company can demonstrate its social responsibility.
Answer: 1 . Offer voluntary work opportunities …

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11 -Problem: 8 >> Interview an entrepreneur about his or her hiring practices. How successful have those practices been in getting and retaining good employees?
Answer: It might be interesting to compare the finding…

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9 -Problem: 7 >> Interview an angel investor and a banker to learn what his or her expectations are when reviewing business plans for new ventures. In a two-page report, compare their criteria for choosing to fund or not fund a new business.
Answer: Interviewing both an angel and a banker enables students to compare and contrast the needs an…

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17 -Problem: 4 >> What are the possible exit strategies that entrepreneurs can employ?
Answer: Entrepreneurs who want to harvest the wealth they have created ca…

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9 -Problem: 1 >> Describe the typical metrics for a startup business.
Answer: Typical metrics include customer acquisition costs; average order size…

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10 -Problem: 6 >> Go to www.bplans.com and select a business plan to review. Using the guidelines for an effective plan given in this chapter, evaluate the plan in about two to three pages. What are the plan’s strengths and weaknesses? How can it be improved?
Answer: The business plan chosen for review is the business plan of the Mobile Food Truck. This plan focuses on the launch of a mobile food truck business in the local area. This plan outlines the businesss g…

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7 -Problem: 7 >> Interview an entrepreneur who is producing a product. What is their IP strategy? What forms of IP are they using to protect their assets?
Answer: The entrepreneur 's IP strategy depends on the type of product they are pr…

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17 -Problem: 6 >> Interview an entrepreneur whose new venture is in its early stages, and question him or her about the growth strategy for the business. Has the entrepreneur given sufficient thought to a growth strategy? Can you identify the type of strategy being used?
Answer: Students will typically find that most early-stage ventures …

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15 -Problem: 2 >> Suppose you are doing business in a country where paying fees (bribes) to get through the process more quickly is standard practice. In the United States, bribery is against the law. How will you deal with this conflict taking into account your ethical standards when you’re doing business in that country?
Answer: When doing business in a country where paying bribes is standard practice , it is importan…

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3 -Problem: 7 >> Pick one of the sources of new product/service ideas discussed in Table 3.3. Using that source, come up with an opportunity that has business potential. Then, searching the Internet or talking to people in that industry (always the best approach), develop a brief report that supports the viability of this opportunity.
Answer: Source : User Communities Opp ortun ity : A subscription based online community and marketplace for …

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15 -Problem: 7 >> Choose two companies in different industries. Interview a manager in each company about how the company practices social responsibility. In a two-page paper, compare these managers’ answers and account for any basic differences.
Answer: Sure, I can help you with that. Here are the two companies I have selected: Company A: A retail clothing company Company B: A software development com…

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8 -Problem: 4 >> How can you ensure that you are using independent contractors correctly and in accordance with the law?
Answer: Follow the IRS 20…

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6 -Problem: 4 >> Visit an entrepreneurial company that is developing new products. What is the company’s product development strategy, and how effective is that strategy? What criteria did you use to measure effectiveness? You may want to use outside sources to confirm what the company tells you.
Answer: The product development strategy of the entrepreneurial company will depend on the specific company. …

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13 -Problem: 4 >> Employing this text and additional online research, acquire a basic understanding of the different legal forms of organization. Then, using a business that you are considering launching, create an initial strategic plan for the business that includes the best legal form to use for your type of business. Write a two-page summary of your findings to justify the choice of legal form at launch and per
Answer: Introduction When creating a new business , one of the most important decisions to make is to select the best legal form for the business . It is important to choose the right legal form in order to p…

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2 -Problem: 1 >> Why are there so many myths about entrepreneurs?
Answer: In general, people rely on myths and stereotypes to categorize or explain beha…

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12 -Problem: 3 >> Suppose you launched a new advertising firm where you create copy, graphics, videos, etc. for print, broadcast, and online distribution. How could you schedule activities to create more efficiency in your operations and better insure that the delivery dates you give your customers will be accurate?
Answer: To create more efficiency in your operations and better insure that the d…

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15 -Problem: 4 >> Would you require your employees to give back to the community as part of their work contract with your company? Why or why not? If yes, how could you implement this policy?
Answer: Yes , I would require my employees to give back to the community as part of their work …

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8 -Problem: 7 >> You need to choose a lawyer, accountant, or banker as a potential professional advisor to your business and you want to interview that person. What information will you need to secure from him or her during the interview to make your decision?
Answer: In general, students will want to gather information on the potential …

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1 -Problem: 6 >> Interview an entrepreneur in an industry or business that interests you. Be sure to choose someone you don’t know (no relatives or friends); choose someone who has started and is still running his or her business. Focus the interview on how and why this entrepreneur started his or her business. Think about the following when deciding on the questions you will ask.
Answer: a. Why is this person an entrepreneur? b. What influenced the entrepreneur to identify and pursue th…

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4 -Problem: 7 >> Choose an industry that interests you. Create a status report using the Internet, LexisNexis or other industry source, current periodicals, and interviews with people in the industry. In your estimation, does this industry have potential for new business opportunities? If so, where do those opportunities lie? Write your analysis in a two-page report, indicating sources you used to develop your con
Answer: This report is a status report on the sports industry, with a focus on potential business opportunities. To compile this report, research was conducte…

Additional Information

13 Reviews for Launching New Ventures An Entrepreneurial Approach Textbook Questions And Answers

Skylar Walter

7 Months ago

GREAT Job Homework_solution

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Hanna Pittman

7 Months ago

super work

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Kirsten Vega

9 Months ago

Homework_solution hits another one out of the park. Paper was well ahead of time and of the highest quality,

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Madeleine Burch

9 Months ago

5.0 Every time !!!; Been using Textbook answers for over 2 years, 125 assignments!!

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Ariana Weiss

11 Months ago

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