Instructor Resource
Neck, Entrepreneurship, 1e
SAGE Publishing, 2018
Answers to Questions in the Text
Chapter 3: Developing an Entrepreneurial Mindset
ENTREPRENEURSHIP IN ACTION
Robert Donat, Founder & CEO, GPS Insight
1. In what ways do you see mindset, or mental attitude, playing a role in Robert Donat’s
success?
Sample answer: Rob Donat’s mindset, or mental attitude, played a critical role in Rob Donat’s
success. Like many entrepreneurs, Donat’s success was not realized overnight. It required an
enormous up-front investment on his part, and continual faith that with the right attitude and
2. If you had been at the helm of GPS Insight when it was approaching $2 million in
cumulative losses, would you have decided to continue in business? What information
would you have needed to know in order to decide one way or the other?
Sample answer: Answers will vary subjectively from student to student. It can be pointed out,
3. Do you agree that a budding entrepreneur should wait and accumulate experience
working for others before starting an entrepreneurial venture? Why or why not?
Instructor Resource
Neck, Entrepreneurship, 1e
SAGE Publishing, 2018
Study on Luck
1. Choose someone you consider highly successful and assess the story of his or her
success. In what ways does the success story show good luck and/or bad luck?
Sample answer: Answers will vary from student to student in conjunction with each student’s
2. Do you consider yourself a particularly lucky or unlucky person? Or do you fall
somewhere in the middle? Give some reasons to support your answer.
Sample answer: Answers will obviously vary from student to student. Discussion, however,
3. Can you think of a chance opportunity that came your way because you were open to
it? How might you make yourself more open to “lucky” opportunities in the future?
Instructor Resource
Neck, Entrepreneurship, 1e
SAGE Publishing, 2018
Mindshift: What Does Your Mindset Say About You?
1. In what ways did this 10-minute observation exercise confirm your existing assumptions
and beliefs about your way of looking at the world? In what ways did it change them?
2. Did you learn anything about yourself that was unexpected or surprising?
3. Can you think of other ways in which 10 minutes of observing a scene or location could
be productive? What else might a person learn from this activity?
Entrepreneurship Meets Ethics: Stakeholder Relationships and Trust
1. Critique the argument that entrepreneurs should establish trust with their stakeholders
by modeling ethical behavior. Give some examples supporting your position.
Sample answer: In many, if not most, cases, entrepreneurs end up serving as executives of their
2. As a CEO, would you support requiring your employees to sign a company code of
ethics? If so, what would be the most important provisions of your code?
Sample answer: Answers will vary from student to student. Since most students are likely to
3. What would you do if a supplier sent a private jet to bring you to the supplier’s
corporate headquarters to inspect the factory?
Sample answer: Answers will vary from student to student. While the private jet scenario
Summary Questions
1. Appraise the effectiveness of mindset in entrepreneurship.
2. Define “mindset” and explain its importance to entrepreneurs
Instructor Resource
3. Explain how to develop the habit of self-leadership.
4. Explain how to develop the habit of creativity.
5. Explain how to develop the habit of improvisation.
6. Relate the mindset for entrepreneurship to entrepreneurial action.