What are a firm’s key assets?
> Rover.com: Don’t Chuckle: This Is One Impressive Business Idea. 1. In the United States, what environmental trends are supporting the development of Rover.com’s business? 2. In this chapter, we noted that a true business opportunity is attractive, durabl
> What are the four distinctive parts of the entrepreneurial process and what is the relationship among the parts?
> 1. Which of the characteristics of a successful entrepreneur, discussed in the chapter, do you see in Julie Rice and Elizabeth Cutler? To what degree do you think these characteristics have contributed to SoulCycle’s success? 2. How does SoulCycle’s basi
> Quiznos: Will It Regain a Leadership Position in the Sandwich and Sub Shop Franchise Industry? 1. To what degree do you think Quiznos’ brand has been permanently damaged by its missteps? Is Quiznos doing everything it can to repair its brand? What, if an
> Warby Parker: Pursuing an Omni-Channel Strategy for Firm Growth 1. How is Warby Parker able to sell eyewear at such a low price? 2. Explain the rationale behind Warby Parker’s omnichannel strategy. Provide an example of another company that is pursuing a
> Sir Kensington’s: Pursuing a Measured, Yet Promising Path to Growth 1. There is a discussion early in this chapter about the need to prepare for growth. What actions did Scott Norton and Mark Ramadan take that demonstrate their commitment to trying to fu
> GoldieBlox vs. Beastie Boys: The Type of Fight That No Start-Up Wants to Be a Part of 1. If the case hadn’t been settled by GoldieBlox and the Beastie Boys and you had been asked to render a judgment in the case, would you have rendered a judgment in fav
> 1. Critique Nest’s segmentation strategy, its selection of a target market, and its positioning strategy. To what degree are these elements of Nest’s market strategy complementary and effective? 2. Describe Nest’s brand. In what ways does Nest practice b
> Revolights: Using Multiple Sources of Funding to Bring Its Innovative Bicycle Lighting System to Life 1. The following sentence appears early in this chapter: “There are three reasons that most entrepreneurial ventures need to raise money during their e
> Debra McGahan, a close friend of yours, mentioned to you that to complete a project in one of the courses she is taking this semester, she needs to describe a firm that is using an effective business model. Your immediate response is to recall that you j
> Basecamp: Implementing Novel Work Design and Human Resource Management Practices 1. Share your general reaction to this case study. Do you think Basecamp’s approaches to work design and HRM are transferable to other organizations, or do you think they’re
> Mary Lynn Schroeder: Building a Successful Business with Limited Money and Limited Business Experience 1. What can a first-time entrepreneur, who may have a good idea but not much money or business acumen, learn from Mary Lynn Schroeder’s experience? 2.
> What are the differences among direct competitors, indirect competitors, and future competitors?
> Preparing a Proper Legal Foundation: A Start-Up Fable 1. Complete Jack and Sarah’s list for them, including the issues you think they will place on the list along with their recommendations. Which of the issues do you think will stimulate the most discus
> Birchbox: Leveraging the College Experience to Write a Business Plan and Launch a Growing Start-Up 1. How effectively do you think Katie Beauchamp and Hayley Barna used their time in college to advance their business idea? 2. In what ways is Birchbox’s b
> Panera Bread: Occupying a Favorable Position in a Highly Competitive Industry 1. How has Panera Bread established a unique position in the restaurant industry? 2. How has Panera Bread’s unique position in the restaurant industry contributed to the firm’s
> Etsy: Breaking Down a Business Model 1. How does Etsy create, deliver, and capture value for its shareholders? 2. Is Etsy’s business model a standard or a disruptive business model? Explain your answer. 3. How is Etsy’s business model different from eBay
> How Feasibility Analysis Shaped Rent the Runway into the Business it is today. 1. Make a list of the ways in which Hyman and Fleiss vetted their business idea prior to launch. How long was it between the initial idea for Rent the Runway and when the busi
> PledgeMusic and Zinepak: Creating New Businesses in the Music Industry by Directly Engaging Fans 1. What environmental trends are working in favor of PledgeMusic and Zinepak? What environmental trends are working against each company? 2. What gap or gaps
> KaZAM, the company producing a bike that teaches kids how to ride without training wheels in a safe, enjoyable, and confidence-building manner, is the subject firm described in the “You Be the VC 9.2” feature (from Chapter 9). Reread that feature. What t
> Imagine you’re opening a tutoring service near the campus of the college or university you attend. What would be the characteristics of a comprehensive social media strategy that you can employ to build your brand, engage customers, and generate leads an
> Twitter (http://twitter.com) is a free networking and micro-blogging service that allows its users to send and read other users’ updates, called “tweets.” This business model continues to be criticized for not being viable in the long-term. Spend some ti
> What is entrepreneurship?
> What are the two most common strategies pursued by firms in global industries?
> What is the evidence that debunks the myth that entrepreneurs are born, not made?
> What are the five common myths of entrepreneurship?
> What is it about “tenacity” that makes it such an important characteristic for entrepreneurs?
> Why is product/customer focus an important characteristic of successful entrepreneurs?
> What is it about passion that makes it particularly compatible with the entrepreneurial process?
> Why is passion such an important characteristic of successful entrepreneurs?
> What are the three primary reasons people become entrepreneurs?
> What are the three main attributes of firms that pursue high levels of corporate entrepreneurship?
> What is an industry?
> What is a company’s product/market scope?
> How can a start-up avoid or sidestep the pressure applied by one of the five forces on industry profitability by establishing a unique “position” in an industry?
> What is the difference between a scale joint venture and a link joint venture? Provide examples of both types of joint ventures and how their effective use can increase a firm’s sales.
> Spend some time looking at Wonder Workshop, the focus of the “You Be the VC 3.2” feature. What are five actions this firm could have taken when completing its feasibility analysis that would have been particularly helpful in supporting its business model
> Why do most entrepreneurial firms initially choose to compete within a narrow target market?
> How are a firm’s core strategy and its mission related to each other as parts of a business template?
> What are the four major categories that comprise the Barringer/Ireland Business Model Template?
> What is the best time for a firm to develop its business model?
> How does a freemium business model work?
> What are some common advantages that accrue to a firm as a result of partnering with other companies?
> Who are “key partners” and why are they important to the success of an entrepreneurial venture?
> What are the primary elements of the Operations component of the Barringer/Ireland Business Model Template?
> How do fixed costs differ from variable costs?
> What are the nontraditional barriers to entry that are particularly suitable for entrepreneurial firms to study when selecting an industry in which to compete?
> What is a revenue stream and why is it so important to a firm’s short- and long-term success?
> Do you think that the business models of daily newspapers are viable in the long run? If you were the owner of a daily newspaper in a major U.S. city, would you try to maintain the print edition of your paper, evolve to strictly an online presence, or do
> How many core competencies do most start-ups have?
> What is a core competency?
> Why is it important for a franchisor to develop detailed and thorough operating manuals?
> What are some of the aspects of franchising that make it subject to ethical abuses?
> What is the purpose of a franchise agreement?
> Why is it important for a prospective franchisee to retain his or her own franchise attorney?
> Typically, if an individual franchise unit is losing money, does it still have to pay a monthly royalty to the franchisor? Explain your answer.
> What are the four primary factors that play a role in determining the nature and intensity of the bargaining power of buyers?
> What is franchising?
> What is an international expansion strategy? What are the keys to implementing this strategy successfully in an entrepreneurial firm?
> Naomi Stephenson plans to open a company that will design and manufacture accessories for smartphones. She has read that having a clearly articulated business model will help “all of the elements of her business fit together.” Naomi isn’t quite certain s
> What is a market penetration strategy? Provide an example of a market penetration strategy, and describe how using it effectively might increase a firm’s sales.
> What are some of the common reasons new products fail?
> What are the keys to a firm’s effort to achieve success through new product and service development?
> How does a joint venture differ from a strategic alliance?
> What is a joint venture?
> Over the past several years, why have strategic alliances and joint ventures become increasingly prevalent growth strategies for entrepreneurial firms?
> What is the meaning of the term licensing? How can licensing be used to increase a firm’s revenues?
> What is the purpose of completing a competitive analysis grid?
> What is the difference between a licensor and a licensee?
> Why might firms work hard to achieve a market leadership position?
> What are the benefits of planning for growth?
> What are some of the red flags that would suggest that the overall financial attractiveness of a proposed new venture is poor? Which of the red flags you identified would suggest that realistically, a proposed venture isn’t feasible?
> Why is it difficult for some firms to grow or scale their operations?
> Is it possible for a firm to grow too fast? If so, what are the potential downsides?
> What are the potential downsides to firm growth?
> What are the differences between entrepreneurial services and managerial services?
> Can most firms be classified as rapid-growth firms? Explain your answer.
> In what stage or stages of the organizational life cycle are capital constraints most prevalent?
> What is a company’s “basis of differentiation” and what is the importance of this part of a business template?
> What information does not qualify for trade secret protection? Make your answer as thorough as possible.
> Why is price stability such an important issue for a firm entering a period of rapid growth?
> How do rapid growth firms deal with potential cash flow shortfalls?
> Why is cash flow management such an important issue for a firm entering a period of rapid growth?
> Keith Ambrose, who is a physical therapist, is thinking about starting a firm to provide in-home therapy services for people who are suffering from sports-related injuries. Keith lives in Columbus, Ohio. He doesn’t know if Columbus is large enough to sup
> What is adverse selection and how might it affect entrepreneurial firms?
> What is the managerial capacity problem?
> What is meant by the term trade dress?
> What are the three steps involved in selecting and registering a trademark?
> Search the USPTO database and find three patents issued to Donald E. Weder of Highland Park, Illinois. Describe the patents. In what areas are most of Mr. Weder’s patents?
> What is a standard business model and what is a disruptive business model?
> What are the two primary rules for determining whether intellectual property protection should be pursued for a particular intellectual asset?
> What types of physical measures do firms take to protect their trade secrets?
> What information does not qualify for trade secret protection? Make your answer as thorough as possible.
> What is a copyright bug? Where would one expect to find the bug, and how is it used?
> What is a copyright?
> If you were interested in opening a musical instruments store near the college of university you are attending in order to sell guitars, drums, and other types of musical instruments, what online resources would you draw on to conduct secondary research
> What is meant by the term trade dress?
> What are the three steps involved in selecting and registering a trademark?
> What is meant by creating “buzz” for a company? Provide an example of a firm that has created effective buzz for its product or service.
> What is a tagline? What is your favorite tagline? Why
