Short Answer Questions – 1, 2 & 3. Short Answer Questions (1)
1. How has the number of new venture formations in the United States changed in the past 30 years? Why has this happened? Why will this pattern continue?
2. From where do the new jobs in America derive? Why?
3. It is often argued that “the rich get richer and the poor get poorer.” How and why has the entrepreneurial revolution affected this stereotype? What are its implications?
4. Who was Ewing Marion Kauffman, what did he do, and what was his philosophy of entrepreneurial leadership?
6. Explain what is meant by the apprenticeship concept. Why is it so important to young entrepreneurs?
7. Who should be an entrepreneur and who should not?
8. Entrepreneurs are made, not born. Why is this so? Do you agree, and why or why not?
Short Answer Questions (2)
1. What is meant by classic entrepreneurship, and the high potential venture? Why and how are threshold concepts, cover your equity, bootstrapping of resources, fit, and balance important?
2. “People don’t want to be managed, they want to be led.” Explain what this means and its importance and implications for developing your own style and leadership philosophy.
3. What are the most important determinants of success and failure in new businesses? Who has the best and worst chances for success, and why?
4. What criteria and characteristics do high growth entrepreneurs, venture capitalists, and private investors seek in evaluating business opportunities? How can these make a difference?
5. Define and explain the Timmons Model. Apply it and graphically depict, as in the Google example, the first five years or so of a new company with which you are familiar.
6. In what ways does looking through a sustainability lens change how an entrepreneur approaches a new venture opportunity?
7. Why has the clean commerce domain become one of the hottest for venture capital investors?
8. How has the communications revolution become a major driver of entrepreneurial thinking and opportunities in sustainable, green business models?
9. What are the most important skills, values, talents, abilities, and mind-sets one needs to cultivate as an entrepreneur?
Short Answer Questions (3)
1. What are the differences among socially responsible ventures, social ventures, and enterprising nonprofits?
2. What is an example of a wicked problem facing humanity, and what types of opportunities might arise for social entrepreneurs in that space?
3. What is a business plan, for whom is it prepared, and why?
4. Who should prepare the business plan and what should a complete business plan include?
5. How is the plan used by potential investors, and what are the four anchors they are attempting to validate?
6. What is a dehydrated business plan, and when and why can it be an effective tool?
7. Please explain the expression: The numbers in the plan don’t matter.
8. How can entrepreneurs use the business plan process to identify the best team members, directors, and value-added investors?
9. Prepare an outline of a business plan tailored to a specific venture you have in mind.