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4. Work with a team of your classmates to interview at least one entrepreneur.
Does he or she fit the model described here? Explain, giving specific examples
from your interview. (LO 2) (AACSB: Application of knowledge)
You Be the Consultant: “College: The Ideal Place to
Launch a Business”
1. One venture capitalist says that entrepreneurship can’t be taught in a regular
classroom any more than surfing can. His view is that students should get their
feet wet in the real world of entrepreneurship. What do you think? (LO 9)
(AACSB: Analytical thinking)
2. In addition to the normal obstacles of starting a business, what other barriers do
collegiate entrepreneurs face? (LO 4) (AACSB: Analytical thinking)
3. What advantages do collegiate entrepreneurs have when launching a business?
(LO 4) (AACSB: Analytical thinking)
Copyright © 2019 Pearson Education, Inc.
Chapter 1, Page 12
1-2. What is an entrepreneur? Give a brief description of the entrepreneurial
profile. (LO 2) (AACSB: Reflective thinking)
In addition, other characteristics of an entrepreneurial profile include:
1-3. Inc. Magazine claims, “Entrepreneurship is more mundane than it’s sometimes
portrayed … you don’t need to be a person of mythical proportions to be very, very
successful in building a company.” Do you agree? Explain. (LO 2) (AACSB:
Analytical thinking)
1-4. What are the major benefits of business ownership? (LO 3 A) (AACSB:
Reflective thinking)
1-5. Which of the potential drawbacks to business ownership are most crucial?
(LO 3 B) (AACSB: Reflective thinking)
1-6. Describe the small business failure rate. (LO 7) (AACSB: Reflective thinking)
Copyright © 2019 Pearson Education, Inc.
Chapter 1, Page 14
1-7. Outline the causes of business failure. Which problems cause most business
failures? (LO 7) (AACSB: Reflective thinking)
1-8. How does a typical entrepreneur view the possibility of business failure?
1-9. How can the small business owner avoid the common pitfalls that often lead to
business failures? (LO 8) (AACSB: Reflective thinking)
Copyright © 2019 Pearson Education, Inc.
Chapter 1, Page 15
1-10. Why is it important to study the small business failure rate and to understand
the causes of small business failures? (LO 8) (AACSB: Reflective thinking)
1-11. Explain the typical entrepreneur’s attitude toward risk. (LO 8) (AACSB:
Reflective thinking)
1-12. Are you interested in some day launching a small business? (LO 8) (AACSB:
Application of knowledge)
1-13. If you are interested in launching a business, when do you intend to start it?
(LO 8) (AACSB: Application of knowledge)
1-14. If you intend to start a business, what steps can you take to increase the
likelihood that it will succeed? (LO 8) (AACSB: Application of knowledge)
Copyright © 2019 Pearson Education, Inc.
Chapter 1, Page 16
Part 5: Case Studies
The following text case complements lecture and assignments for the topics presented in
this chapter.
Case 2: Bark & Co.
Part 6: Online Videos and Podcasts
These online videos may enhance class discussion and provide additional insight for the
chapter topics. You may consider searching “entrepreneur,” “small business” along with
more specific topics.
Eye to Eye: Richard Branson 7:10 minutes
http://www.youtube.com/watch?v=Q6hILGfbqSg&feature=PlayList&p=3BE9FC9
07D0E88E9&index=33
Advice for Young Entrepreneurs: How to Be Taken Seriously 3:20 minutes
http://www.youtube.com/watch?v=YcbwbCgB0-U
Mark Cuban’s 12 Rules for Start-Ups 2:18 minutes
http://www.youtube.com/watch?v=camXWnD4QcI
Copyright © 2019 Pearson Education, Inc.
Chapter 1, Page 17
