Questions from General Entrepreneurship

Q: Summarize the similarities and differences between usual and unique parts of businesses

Summarize the similarities and differences between usual and unique parts of businesses. Provide an example for each term.

Q: Define a fragmented market. Why is it important for entrepreneurs to

Define a fragmented market. Why is it important for entrepreneurs to understand them?

Q: What is a substitute? Why do new entrepreneurial business owners evaluate

What is a substitute? Why do new entrepreneurial business owners evaluate substitutes and the potential impact they have in the market?

Q: New business owners learn to assess the external environment. List the

New business owners learn to assess the external environment. List the eight critical steps that new business owners use to assess the external environment.

Q: What is an exit barrier? Discuss why small business owners include

What is an exit barrier? Discuss why small business owners include them in their entrepreneurial business planning.

Q: What makes a good mission statement?

What makes a good mission statement?

Q: Discuss how industry trends shape the long-term perspective of the

Discuss how industry trends shape the long-term perspective of the industry. Why?

Q: Explain why new entrepreneurial business owners select or target their customers.

Explain why new entrepreneurial business owners select or target their customers. What are the disadvantages associated with not choosing the customers?

Q: Summarize why entrepreneurs utilize the technique known as resource-based analysis

Summarize why entrepreneurs utilize the technique known as resource-based analysis.

Q: What is a sustainable competitive advantage? Why is it important for

What is a sustainable competitive advantage? Why is it important for a new entrepreneurial business owner to gain it? Be specific.