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Chapter: 7 -Problem: 1 >> It seemed the perfect plan. With two angel investors steering her medical device company toward an acquisition, Foster and her husband decided to start a family. However, by fall 2005 (the middle of her first trimester), everything had changed. The co-founder and president of Newland Medical Technologies had to seriously reconsider the course she had set for her company and make some tough choices
Answer Preview: Case 1: The Timmons entrepreneurship framework can be applied to this case as follows: Entrepreneur: Sarah Foster Opportunity: Designing and manufacturing medical devices for kidney stone treatment Re…

, Chapter: 15 -Problem: 1 >> The Parent Company (“TPC”) had existed six to seven years under the control of a venture capital group. Although it was publicly traded, two-thirds of it were owned by the VCs and its operating manager. It made, under an overseas license, a product that was distributed throughout the United States. It had an annual sales of $3 million to $4 million, and substantially all its assets were secured un
Answer Preview: 1. TPC, a publicly traded company, planned to acquire TRC, a chain of retail stores, in a different …

, Chapter: 3 -Problem: 1 >> Roxanne Quimby sat in the president's office of Burt's Bees' newly relocated manufacturing facility in Raleigh, North Carolina. She missed Maine, the company's previous home. Quimby had founded and built Burt's Bees, a manufacturer of beeswax-based personal care products and handmade crafts, in central Maine and wondered if she should move it back there. She explained, When we got to North Carolin
Answer Preview: Anyone who starts and manages a business venture can be an entrepreneur. The risks of a lifestyle bu…

, Chapter: 4 -Problem: 1 >> Jim Poss stopped at a Logan Airport newsstand to flip through the June 2004 National Geographic cover story that declared, “The End of Cheap Oil.” Jim's enterprise, Seahorse Power Company (SPC), was an engineering startup that encouraged the adoption of environmentally friendly power generation methods. Jim was sure its first product, a patent pending solar-powered trash compactor, could make a re
Answer Preview: Using the Timmons entrepreneurship framework, Jim Poss has identified an opportunity in the market f…

, Chapter: 5 -Problem: 2 >> Why do people say, “Ideas are a dime a dozen?”
Answer Preview: The expression "ideas are a dime a dozen" means that ideas are easy to come by and are relati…

, Chapter: 1 -Problem: 1 >> Staying Afloat With his company, ImageCafé, struggling with financial uncertainty, Clarence Wooten, Jr., faced some difficult decisions. With a burn rate 1 of nearly $50,000 per month, the bridge loans 2 and angel investments 3 of $710,000 would not carry the company to break even. While he was struggling to close a $3 million financing round, a Virginia-based Internet services company, Network So
Answer Preview: 1. Strengths: Strong entrepreneurial drive and ability to identify business opportunities. Innovative and creative thinking, as evidenced by his past experiences with technology. Good leadership and m…

, Chapter: 2 -Problem: 9 >> Who should be an entrepreneur and who should not?
Answer Preview: There is no one-size-fits-all answer to this question as becoming an entrepreneur is a personal choi…

, Chapter: 17 -Problem: 4 >> Choose a family firm you know and plot it on the mind - set and methods model. Describe the firm in light of the mind - set and method definition. Name six ways it could become more enterprising.
Answer Preview: EXAMPLE: Family-owned retail store that sells handmade jewelry and clothing . In terms of the Mind-set and Methods model , this firm would likely fall …

, Chapter: 2 -Problem: 1 >> Define entrepreneurial leadership.
Answer Preview: Entrepreneurial leadership refers to the ability to lead a company or organiza…

, Chapter: 2 -Problem: 4 >> Do you agree with the saying, “Entrepreneurs are made, not born?” Why or why not?
Answer Preview: The idea that "Entrepreneurs are made, not born" suggests that entrepreneurship is a skill set that …

, Chapter: 7 -Problem: 8 >> Prepare an outline of a business plan tailored to the specific venture you have in mind.
Answer Preview: Certainly! Here is a basic outline for a business plan: I. Executive Summary . A brief overview of the business, its purpose, and goals. . Explanation …

, Chapter: 14 -Problem: 7 >> What is a “cram-down” round?
Answer Preview: A "cram-down" round is a financing round in which new investors provide funding to a company, but at …

, Chapter: 2 -Problem: 1 >> In August 2007, Laura Ryan and her son Michael were flying home to Wyoming following a specialty food trade show in Houston, Texas. The event had generated a lot of interest for their growing enterprise, Lakota Hills. Their flagship product, a retail bag of traditional Native American fry bread, was currently on the shelves in over 350 Midwestern supermarkets. While they had made encouraging progr
Answer Preview: Developing a specialty food business can be challenging because the market is highly competitive and dominated by established brands. Consumers are of…

, Chapter: 12 -Problem: 1 >> As early as 1996, Jack Peterson had become discouraged by conflicts with his partner, David Scott, and had sought advice on how to remedy the situation. By 2005, Peterson thought he and Scott had just grown too far apart to continue together and had to find a mutually agreeable way to separate. One alternative was for one partner to buy the other out, but Scott seemed to have no interest in such a
Answer Preview: Answer 1: Based on the scenario provided, it is impossible to evaluate the value of the company. The information given only describes the conflicts and disagreements between two partners and the execu…

, Chapter: 2 -Problem: 8 >> Evaluate thoroughly your attraction to entrepreneurship.
Answer Preview: Entrepreneurship refers to the process of creating a new venture, typically involving the development of a product or service and the mobilization of …

, Chapter: 8 -Problem: 1 >> Maclean Palmer strode out onto a Martha’s Vineyard beach to enjoy the warm sun. That August afternoon in 2000, Palmer and the four partners he had chosen in his quest to start up a $200 million private equity fund had made a collective decision that would change their lives forever. In less than 2 months, the partners would quit their jobs, sell their homes, and move their families to Boston to be
Answer Preview: 1. Maclean Palmer's decision in 2000 to start a new venture capital fund seems to have been a good one, since that was a good time to raise money. But …

, Chapter: 6 -Problem: 1 >> Michelle Foster glanced at the unclaimed nametags. Stormy weather had hurt attendance at the conference on funding alternatives for growing businesses, which was sponsored in part by Foster’s equity fund, Northwest Community Ventures (NCV). To follow its mandate to invest in rural Oregon and Washington, the fund depended on such outreach venues as the conference to attract and build trust with rur
Answer Preview: It is not clear from the given information whether the for-profit avenue chosen by Eileen OBrien makes sense for Grassroots Business Initiatives, Inc. …

, Chapter: 17 -Problem: 1 >> Jimella, the younger of the Dawson children, smiled as she peeked into her mother's office. “Good morning, Mom! Do you have a minute?” “Sure, come in. I'm just preparing for a meeting..” Jimella, age 32, liked to work hard. She had learned every aspect of the family personal care products business—from filling and capping containers to working with markets, spas, and salons—and had started selling
Answer Preview: Are this family and case about family business or family enterprising? What are the differences? Why does this distinction matter for understanding the case? This case is about a family business that …

, Chapter: 15 -Problem: 10 >> When should a company borrow money?
Answer Preview: A company should borrow money when it needs capital to finance its operations or investments but doe…

, Chapter: 7 -Problem: 6 >> Explain the expression, “The numbers in the plan do not matter.”
Answer Preview: The expression "The numbers in the plan do not matter" typically means that the speci…

, Chapter: 1 -Problem: 4 >> Which contribute more to all innovations and to radical innovations—large companies or new and emerging companies? Why?
Answer Preview: Both large and new/emerging companies can contribute to innovations and radical innovations in diffe…

, Chapter: 16 -Problem: 1 >> Dave Santolli’s entrepreneurial career epitomized the notion that life is about the journey rather than the destination. At 42, he ‘d experienced both success and failure in business. He ‘d also found out his wife Terry was facing an uphill battle with cancer, and been relieved when she pulled through. In early 2005, all that was beginning to seem like practice for his current challenges. He was f
Answer Preview: 1. At Fax tech, Dave Santolli demonstrated entrepreneurial thinking by identifying a gap in the mark…

, Chapter: 5 -Problem: 1 >> How does an idea differ from a good opportunity?
Answer Preview: An idea and a good opportunity are two different things, although they may be related. An idea is a …

, Chapter: 5 -Problem: 4 >> List the idea sources most relevant to your personal interests, and search for them online.
Answer Preview: Online courses and tutorials on a topic you are passionate about or want to learn mor…

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16 Reviews for New Venture Creation Entrepreneurship For The 21st Century Textbook Questions And Answers