461 Final Exam Essays-Fall2019 PDF

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ENTREPRENEURSHIP 461- FINAL ESSAY PROFESSOR HAZY

Final Exam Essays (Choose 2 – each worth 50%) - Upload to Moodle before the start of class on the scheduled day of the final. PLEASE BE SURE TO ANSWER ALL OF THE QUESTIONS EMBEDDED IN EACH ESSAY PROMPT IN A SINGLE ESSAY FORM. EACH IS QUESTION IS GRADED SEPARATELY. Suggested length: 300 to 500 words per essay. Note: Evidence of any level of plagiarism (which includes cut and paste from the internet or other documents) will result in a grade of zero for the final exam. All work must be completely on your own, except that you can use the Adelphi Writing Center. Evidence of collaboration with classmates or with others will result in a failing grade for the entire final.

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What is meant by the Business Model CANVAS? What are all of the parts of the CANVAS and why are they important? How does the CANVAS relate to the Business Plan? Describe how you group used CANVAS to begin the process of formulating your venture plans?

2.

An expert in the field of entrepreneurship has said, “...new ventures that draw a careful bead on specific markets or specific geographic areas are more successful than ones that do not focus their efforts and products in this way.” Explain whether you think this might be true and why, and how this applies or doesn’t apply to you project. Craft your essay to also answer the following questions: Describe why is it important for entrepreneurs like you to gather marketing information before starting a new venture? How did you go about doing this and what market information did you include? What are some additional ways of gathering this information? When would you use these techniques? What type of marketing information is needed? How did you open up new market space? Answer all of these questions while answering the above question and do so in the context of your project.

3. Discuss the importance of a business plan, the investor presentation, and the elevator pitch, and describe how the first two of these came together for your project. As you do this, describe at least three different reasons why a business planning process is important for a new business like yours. Also, describe three specific things that you learned about entrepreneurship from the planning process in your group (please provide examples). In the course of your answer, you must describe the contents that are included in a solid business plan and explain the structure you chose for your plan as well as the outline of your investor presentation, and also describe why your group followed these outlines.

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ENTREPRENEURSHIP 461- FINAL ESSAY PROFESSOR HAZY

4. One of the most important early decisions in starting up a venture is deciding if the opportunity is real and if it is likely to succeed in the marketplace. There are two aspects of this situation to consider: First, researchers have identified major types of marketplace changes that give rise to sources of business opportunity for entrepreneurs. What are three major changes or trends that are often identified and give an example of each? Describe why and how your business idea (for your group project) exploits one or more of these trends. How is the exploitation of these trends incorporated into your business plan? Second, describe how business and industry conditions favor your project as an entrepreneurial start-up business? What characteristics favor incumbent businesses (Given an example of each type)? How should this information be considered when deciding how to proceed with a new business?

5. Define what makes an event a milestone in the life of an entrepreneurial venture. Name five types of risk that your business faces. For each, identify a key milestone you identified for your venture that mitigates that risk and why. Describe how defining these specific milestones helped your planning process. Provide examples of this for each milestone.

NOTE: Everything counts for the grade, including grammar, spelling, formatting, and so forth. Evidence of plagiarizing will result in a failing grade of ZERO for the entire Final Exam. All quotes must be indicated with quotation marks as well as cited and all ideas drawn from elsewhere must include a citation.

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