Prepare to take the final examination.
You are an entrepreneur that has just received full Venture Capital funding to launch your new invention. This is a plug-in electric unit that you can slip under any object or person which will levitate the object or person from 1 to 6 inches above of the floor or surface it is on. Your prototype design is finished and proven, and goes into production in 6 months to be ready for the holiday shopping season.
Note: Since you have limited information in the above scenario, you may need to make assumptions to answer the questions below. If you do make assumptions, just include them in your answer.
1. New Venture book, Chapter 1 - using exhibit 1.1 (page 5) identifies the differences between managers and leaders. For your new venture to be successful, what should be the % split for ____ % management vs. ____% leadership behaviors/practices and provide the reasoning (the why)?
2. New Venture book, Chapter 2 - identify 3 elements or factors mentioned in this chapter that will be the most important to build your company and the globalization of your product Provide the reasoning (the why).
3. New Venture book, Chapter 4 – using exhibit 4.8 (page 128 and 129) list3 items that make this product attractiveness high potential and list 3 items that make this product attractiveness low potential. Provide reasoning (the why) for each.
4. New Venture book, Chapter 7 - using exhibits 7.1, 7.2 and 7.3 (pages 259 and 260) describe which categories (boxes for 7.1 and 7.2) and where on the curve (7.3) your new product fits.
5. Effective Small Business Management book, Chapter 1 (pages 6 to 8) there are listed 11 factors that define an entrepreneurial profile. For your product’s success, list the top 3 and provide reasoning (the why) these are the most important.
6. Effective Small Business Management book, Chapter 6 (page 175) using the model in figure 6.1 and using the questions on page 175 identify the, 1) Industry and Market Feasibility 2) Financial Feasibility and 3) Product or Service Feasibility.
7. Effective Small Business Management book, Chapter 9 (page 284) - answer the 7 questions in exhibit 9.1.
8. Effective Small Business Management book, Chapter 10 (page 324) using Table 10.1, create a Six-Sentence Advertising and Promotion Strategy for your product.
9. Effective Small Business Management book, Chapter 21 (page 741) using table 21.4 as you expand your product into third-world countries which of the 15 Causes of Ethical Breaches would you expect to run into and why?
10. Effective Small Business Management book, Chapter 22 (page 780 to 788), discusses 1) patents, 2) copyrights and 3) trademarks. Which of these (1, 2, 3 or all?) should you pay attention to and why?