Start by reading and following these instructions:
- Quickly skim the questions or assignment below and the assignment rubric to help you focus.
- Read the required chapter(s) of the textbook and any additional recommended resources. Some answers may require you to do additional research on the Internet or in other reference sources. Choose your sources carefully.
- Consider the discussions and any insights gained from it.
- Create your Assignment submission and be sure to cite your sources, use APA style as required, check your spelling.
Answer these essay questions:
- For entrepreneurs to be successful, there needs to be a large enough pool of potential customers who have an unsatisfied need or are willing to consider that they may benefit from the entrepreneur’s products or service. Entrepreneurial startups tend to be small and have little available cash. One would think that larger firms with numerous employees, proven suppliers and distributors, and much more working capital would be able to outperform the startups. Time and again, however, this is not the case. What do you believe are the key factors that give the advantage to the entrepreneur?
- Imagine you are a successful and well-respected, mid-level professional in a large corporation that is concerned about losing business to an ever-growing number of competitors, many of which are far smaller. You have been asked to create a “skunkworks unit” within the firm to develop new strategic insights and products to help your firm survive. Drawing on your personal experiences, as well as insights from the text and the Internet, produce a prioritized list of five to seven key attributes at the heart of the design of your new unit.
- Consider two firms: one that has the very best people but an ineffective and frustrating work environment and one that has average workers but an excellent environment. All else being equal, which is likely to be more successful over time, and why?
- It has been said that many high-tech firms outsourced too many of their core competencies to off-shore firms and, as a result, “hollowed themselves out.” If your firm asked you to propose how it could become more profitable and agile through off-shoring but not hollowing out, what would you recommend be outsourced, what would you keep, and why?