Unlock document.
This document is partially blurred.
Unlock all pages and 1 million more documents.
Get Access
Part 3: Chapter Exercises
1. What changes in macro environmental forces are shaping the feasibility of the
driverless car? (LO 3) (AACSB: Reflective thinking)
2. If you were an executive at an automobile company, would you pursue your own
model of a driverless car? Why or why not? (LO 3) (AACSB: Analytical thinking)
3. What other opportunities for new businesses can you envision that may result
from the introduction of the driverless car into the market? (LO 3) (AACSB:
Analytical thinking)
Hands On… How To: “Do You Want Fries with Those
Crickets?”
1. What macro trends support businesses selling edible insects to American
consumers? (LO 4) (AACSB: Reflective thinking)
2. What are the risks that come with being an early entrant into the edible insect
market? (LO 5) (AACSB: Reflective thinking)
Copyright © 2019 Pearson Education, Inc. Chapter 4, Page 71
3. Do you believe an edible insect business would be successful where you live?
Why or why not? (LO 5) (AACSB: Reflective thinking)
You Be the Consultant: “RendezWoof: Creating a
Minimal Viable Product for a Mobile App”
1. Why would you recommend that an entrepreneur develop a minimal viable
product or a prototype? (LO 8) (AACSB: Reflective thinking)
2. Can you think of additional market research that Aikens could have done before
developing his product? (LO 8) (AACSB: Application of knowledge)
3. What are the advantages and disadvantages of offering equity in exchange for
work done on a new product? (LO 8) (AACSB: Application of knowledge)
Copyright © 2019 Pearson Education, Inc. Chapter 4, Page 72
1. Why was it hard for Jake to admit his newest venture was not going to work?
2. What would you recommend that entrepreneurs do to ensure they don’t hang on
too long to a failed business concept? (LO 8) (AACSB: Reflective thinking)
3. A failed business concept does not mean the entrepreneur has failed. How would
you explain this to an entrepreneur facing a failed business concept? (LO 8)
(AACSB: Reflective thinking)
Part 4: Chapter Discussion Questions
4-1. Describe the new business planning process. (LO 1, LO 2, LO 5) (AACSB:
4-2. Explain the parameters of the idea sketch pad. (LO 1) (AACSB: Reflective
thinking)
4-3. What are the risks for an entrepreneur who becomes emotionally attached to
an idea for a new business? (LO 1) (AACSB: Reflective thinking)
Copyright © 2019 Pearson Education, Inc. Chapter 4, Page 73
4-4. Describe the four components of a feasibility analysis. (LO 2) (AACSB:
4-5. Why is it important for an entrepreneur to be aware of the macro forces that
shape a new business venture? (LO 3) (AACSB: Reflective thinking)
4-6. Describe in detail Porter’s Five Forces Model. (LO 4) (AACSB: Reflective
thinking)
Copyright © 2019 Pearson Education, Inc. Chapter 4, Page 76
4-14. Describe the four phases that go into developing a business model. (LO 8)
Copyright © 2019 Pearson Education, Inc. Chapter 4, Page 77
4-15. What is a pivot in a business model? (LO 8) (AACSB: Reflective thinking)
4-16 Explain the various types of pivots an entrepreneur may need to consider for a
business model. (LO 8) (AACSB: Reflective thinking)
Part 5: Case Studies
There are no case studies that apply to this chapter.
Part 6: Online Videos and Podcasts
These online videos may enhance class discussion and provide additional insight for the
chapter topics.
Focus Group 4:27 minutes
http://www.youtube.com/watch?v=j_cUnlQl29Q
Michael Porter on Five Forces Model 13:11 minutes
How to Make an Invention Prototype 4:08 minutes
http://www.youtube.com/watch?v=An3r4GbUPRc
Les Brown: Discover the Entrepreneurial Mindset 7:36 minutes
http://www.youtube.com/watch?v=N8eC5qR9_Wo
Alexander Osterwalder: The Business Model Canvas 3.32 minutes
http://www.youtube.com/watch?v=2FumwkBMhLo
Links to additional online resources are available on the companion Web site at
