ASSIGNMENT #1
READ THE CHAPTER THOROUGHLY BEFORE ANSWERING THE QUESTIONS.
PROVIDE ADEQUTE EXPLANATIONS TO YOUR ANSWERS. ANSWERS SHOULD
NOT BE COPIED FROM ANOTHER SOURCE. NO CREDIT WILL BE GIVEN TO
ASSIGNMENTS WHEN THEY ARE EXACTLY THE SAME.
CHAPTER 1
PART I (80 points)
Answer Questions:
1. What is an entrepreneurial opportunity? Explain with an example.
• An entrepreneurial opportunity is an economically attractive and timely
opportunity that creates value both for prospective customers and for the firm
owner. For example, in my hometown there are no options for healthy/clean
eating in terms of restaurants or supermarkets. Therefore, an entrepreneurial
opportunity would be to open a plant-based/vegan restaurant or a whole foods
store.
2. What is meant by the term Entrepreneur?
• An entrepreneur is a person who relentlessly pursues an opportunity, in either a
new or an existing enterprise, to create value while assuming both the risk and the
reward for his or her efforts.
3. In the chapter discussion, the authors have mentioned about three ventures started by
