“Entrepreneurs have built successful companies by being able to exploit unmet needs in the market.” Considering the situation, describe the competencies that will be needed by entrepreneurs for starting a startup in today’s era? (600 words minimum)
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“Entrepreneurs have built successful companies by being able to exploit unmet needs in the market.” Considering the situation, describe the competencies that will be needed by entrepreneurs for starting a startup in today’s era? (600 words minimum)
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- 1. _____ nurture young firms and help them to survive and grow during the startup period when they are most vulnerable. a. Successful graduates b. Business incubators c. International trade organizations d. Conglomerates 2. Which of the following best describes one of the contributions of small businesses? a. They are sources of new ideas or services that larger businesses may be unable to provide. b. They provide large capital gains to the owners. c. Their products and services are sold at prices that are lower than large businesses' prices. d. They provide economies of scale that large businesses cannot match. 3. Most creative entrepreneurs are very good managers. a. True b. False 4. An entrepreneurial venture is characterized by: a. innovative strategic practices and/or products. b. independent ownership and operation and no desire for dominance in its field. c. no scope of growing large, and the owners…A number of businesses were started-up on the internet (dotcom companies), however some later ventured offline into physical stores. Why are internet start-up companies transitioning to click and mortar models?Do you think that pure dotcom models will become extinct? Give reasons for your answer.“University: A Great Place to Launch a Business venture”, you being the consultant, are appointed to help students understand the normal obstacles of starting a business along with other barriers University entrepreneurs may face? Please discuss their barriers and obstacles and a way to ensure the maximum number of startups at University level. ( words limit 450)
- Note the quotation from the extract below and discuss the various methods of generating ideas entrepreneurs who have closed their start up can utilise to "Bounce back" using your OWNexample to support you discussion. “The pain of closing a business can overwhelm founders, whose identity is intertwined with that of their venture. Failedfounders wonder what they’ll do next—are they employable? Adding to their worries, their personal finances may be inshambles. Most entrepreneurs cut their own salaries as their venture goes into decline, and many have invested theirlife savings in the startup—along with funds from friends and family.1. Is fast growth possible in a declining market? Why? If it is possible, which conditions does a startup have to meet in order to grow in a declining market? 2. Discuss which negotiation style (distributive or integrative) you would adopt when negotiating with a key partner and with primary, secondary and tertiary target audiences. Why?read Experimenting in the Entrepreneurial Venture Links to an external site. (2. Essential Reading, pgs. 3-19) from the Harvard Business Publishing Coursepack. Once you’ve completed the material, take the reading quiz. This is an open-book quiz. As you read the reading assignment and take the quiz, pay close attention to the material and how it relates to your perspective as an entrepreneur. Class discussions will be held on this reading, and the policy in this class is that only those who have done the reading can interact during the group reading discussions. A Product-market fit is achieved when Group of answer choices some customers buy the product. the team builds a product to fit the needs of customers. the product offering profitably meets target customers’ needs. the business starts scaling. B .Which of the following is NOT part of the lean startup philosophy? Group of answer choices Rapid iteration Small batches Cross-functional teams Short cycle times C.The…
- True or False1. Entrepreneurship covers more than just inventions; it also requires innovation 2. Entrepreneurs are academically and socially ineffective 3. Entrepreneurs are doing entrepreneurs; they lean towards action. 4. Only people who have certain natural talents can be Entrepreneurs. 5.Entrepreneurs are extreme risk takers 6. Entrepreneurs seek success but experience high failure rates 7. Ignorance is bliss for Entrepreneurs 8. All Entrepreneurs need is luck 9. Money is what the Entrepreneurial venture need to survive 10. Entrepreneurs must fit the standard Entrepreneurial profileWhich of the following terms refers to people who create businesses under risky conditions? A) investors B) risk managers C) developers D) entrepreneurs E) visionariesImagine running a large city travel business. Despite many commercial customers, growth has stagnated. You think technology can help you. Does your company have a strength, weakness, vulnerability, opportunity, and threat?
- WHICH OF THE FOLLOWING IS THE COMMON REASON FOR PEOPLE CHOOSING TO BECOME ENTREPRENEURS? a. To escape the long hours associated with corporate jobs. b. To be able to retire early. c. To be their own boss. d. To learn new things.You have been invited to address a Regional Entrepreneurial Summit at White Sands, Mombasa, composed of entrepreneurs from across East African. The theme of the convention is ‘Challenges of entrepreneurship in East Africa in the Covid-19 Era’. a) Briefly describe how you will prepare to make a befitting and effective public presentation.As a group of aspiring entrepreneurs, you must create a business plan for a service-oriented business in the tourism industry in any Caribbean country (not an existing business/company). ALL members of the group are expected to work together and contribute to the business plan. Each team member must complete a peer evaluation of the other team members using the provided rubric.
