PRT503 Entrepreneurship for Professionals
1- Choose three major inventions that have lead to successful products. Who were the inventors? How did they invent the technology? Why do you believe they were the first to invent this technology?
2- What is the failure rate of all entrepreneurs? What is the failure rate of entrepreneurs who choose to be franchisees? What inferences can you make from these numbers?
3- Is it a waste of time to detail the firm’s strategy in the business plan when the audience for that plan (e.g., venture capitalist) knows that things are not going to turn out as expected and, as a result, place considerable importance on the quality of the management team? Why not submit only the resumes of those in the management team? If you were a venture capitalist, would you want to see the business plan? How would you assess the quality of one management team relative to another?
4- Obtain a patent of a technology (e.g., go to the patent office Web site) and come up with 10 creative uses of the technology.
5- Choose three different products that you might be interested in purchasing and that are sold on the Internet. For each product, visit three Web sites and go through the process as if you were going to actually purchase the product. Which Web site was the best? Why? Which was the worst? Why? If you could create the perfect Web site, what features would it have?
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