Please answer the following questions in short essay format using paragraphs with complete sentences, paying attention to spelling and grammar. You can put your answers after the questions and upload your WORD DOC file (not zipped please) to BB Assignments. Aim for half a page answer for each question.If you use websites or outside resources please cite them in APA style.1) Think of a famous successful entrepreneur (one that your professor would know). Name this person and their business. Describe how this person became successful and a top producer in their field. Name 2 strategies that this person used to make their business profitable. Now name 2 lessons learned from this individual that could be used by other entrepreneurs.2) Think of a famous entrepreneur who failed or was not successful (one that your professor would know). Name the person and the business. Describe how this person failed in their business venture. Name 2 actions this person took that caused them to fail. Now name 2 lessons learned from this individual that other entrepreneurs should be careful not to do.3) Go back to our PPTS on BB about mindsets. Choose 2 of the mindsets slides. Write a paragraph about each one, giving a real world example of the old mindset, which does not work for businesses today, and then give a real world example of the new mindset, which does work in today’s marketplace. Be sure to give 4 separate examples in your answer.4) Trends in entrepreneurship. Name 3 different trends that you have observed in entrepreneurship recently in the United States. For each trend you name, explain why you think the trend has become popular, what is the marketplace result of the trend, and if this trend will continue or will it change in the future.5) Choose an area of entrepreneurship that you are interested in. Do an internet search on this topic or read about it or go to the library to do some research on it. Describe your area of interest. What makes you interested in this topic? Now share 3 things that you learned about it (or want to learn about it). Add any other comments you like here.
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mindsets.pptx
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Please answer the following questions in short essay format using paragraphs with complete sentences,
paying attention to spelling and grammar. You can put your answers after the questions and upload
your WORD DOC file (not zipped please) to BB Assignments. Aim for half a page answer for each
question.
If you use websites or outside resources please cite them in APA style.
1. Think of a famous successful entrepreneur (one that your professor would know). Name this
person and their business. Describe how this person became successful and a top producer in their
field. Name 2 strategies that this person used to make their business profitable. Now name 2
lessons learned from this individual that could be used by other entrepreneurs.
2. Think of a famous entrepreneur who failed or was not successful (one that your professor would
know). Name the person and the business. Describe how this person failed in their business
venture. Name 2 actions this person took that caused them to fail. Now name 2 lessons learned
from this individual that other entrepreneurs should be careful not to do.
3. Go back to our PPTS on BB about mindsets. Choose 2 of the mindsets slides. Write a paragraph
about each one, giving a real world example of the old mindset, which does not work for
businesses today, and then give a real world example of the new mindset, which does work in
today’s marketplace. Be sure to give 4 separate examples in your answer.
4. Trends in entrepreneurship. Name 3 different trends that you have observed in entrepreneurship
recently in the United States. For each trend you name, explain why you think the trend has
become popular, what is the marketplace result of the trend, and if this trend will continue or will
it change in the future.
5. Choose an area of entrepreneurship that you are interested in. Do an internet search on this topic
or read about it or go to the library to do some research on it. Describe your area of interest. What
makes you interested in this topic? Now share 3 things that you learned about it (or want to learn
about it). Add any other comments you like here.
New Ideas in
Entrepreneurship
NSU BUS 469
Spring 2019
Idea 1
• Old mindset: business background is required
• New mindset: other backgrounds can be valuable
Idea 2
• Old mindset: Customer is always right
• New mindset: Customer can help you discover what is right;
participation society
Idea 3:
• Old mindset: Theories, models, equations can solve problems
• New mindset: New ways of thinking can solve problems
Idea 4
• Old mindset: Once a product or service exists, it is good enough
• New mindset: Constant improvement is required
Idea 5
• Old mindset: Information is too valuable to share; it must be guarded
• New mindset: Information sharing can lead to valuable insights that
could not be gained alone
Idea 6
• Old mindset: Competitors are the enemy
• New mindset: Competitors can be partners
Idea 7
• Old mindset: Managers and employees are very different than
customers
• New mindset: Managers, employees and customers can work
together
Idea 8
• Old mindset: All steps in the entrepreneurial process must be
followed in order over time
• New mindset: Steps required to bring a new product or service to
market can happen in any order and at any time, if it results in a
marketable product or service
Idea 9
• Old mindset: The formal channels of start up funding are required
and necessary to bring a product to market.
• New mindset: New and creative forms of start up funding are
available and ready to bring a product to market.
Idea 10
• Old mindset: The formal business plan is needed to start a successful
new business
• New mindset: Various types of business plans can be used to start
successful businesses, including virtual, abbreviated and hybrid
Idea 11
• Old mindset: Telling customers what they need
• New mindset: Listening to what customers want
Idea 12
• Old mindset: Once a marketing plan is created, it can be used on all
platforms
• New mindset: Marketing plans need to be fluid and dynamic, to
respond to market events.
Idea 13
• Old mindset: Social media is an optional platform for businesses
• New mindset: Someone else will manage your social media platform
if you do not.
Idea 14
• Old mindset: Research and development teams are optional for
businesses
• New mindset: Research and development teams are necessary for
businesses, though they may be called by a different name
Idea 15
• Old mindset: Businesses can remain domestic if they prefer
• New mindset: All business is global, because the competition is likely
global or will be in the future
Idea 16
• Old mindset: Strategies are fixed once they are created
• New mindset: Strategies are hypothesis driven
Idea 17
• Old mindset: Centralization
• New mindset: Decentralization, to get decisions made close to the
customer and market
Idea 18
• Old mindset: Build the product or service in the lab
• New mindset: Build the product or service in the marketplace
iteratively with changes as needed in the process
Idea 19:
• Old mindset: Entrepreneurship is only for certain individuals
• New mindset: Entrepreneurship can be for everyone, since they can
participate in various ways
Idea 20:
• Old mindset: Entrepreneurship requires entrepreneurs to have a zero
sum game mentality
• New mindset: Entrepreneurship can involve a win-win mentality for
entrepreneurs
…
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