Week 1 - Course Guide


Chapter 1 Entrepreneurs Recognize Opportunities
Chapter 2 The Business Plan: Road Map to Success

Online Discussion Forum Question
The Student Host will lead a discussion on Combining Street Smarts with Academic Smarts to better identify entrepreneurial opportunities.

All written assignments must be delivered by uploading by midnight California time (PDT) on Sunday.

Individual Written Assignments

Chapter 1

1. Explain what entrepreneurs do.
2. Describe how free enterprise economies work and how entrepreneurs fit into them.
3. Find and evaluate an opportunity to start your own business. The five roots of opportunity are:

1. Problems that your business can solve.

2. Changes in laws, situations, or trends.

3. Inventions of totally new products or services.

4. Competition. (If you can find a way to beat the competition on price, location, quality, reputation, reliability, or speed, you can create a very successful business with an existing product or service.)

5. Technological advances. (Scientists may invent new technology, but entrepreneurs figure out how to sell it.)

4. Explain how profit works as a signal to the entrepreneur. Profit is the sign that an   entrepreneur has added value to the scarce resources he or she is using. Not making a profit is a sign that the entrepreneur is not using resources well and is not adding value to them.

5. A business opportunity is an idea plus these three characteristics: It is attractive to customers. It will work in your business environment. It can be executed in the window of opportunity that exists. Describe how your opportunity idea satisfies these three characteristics.

Chapter 2

1. Describe what a business plan is.

2. Explain the various purposes of a business plan and the audiences for it.

3. Describe the components of a business plan.

4. Demonstrate proper development and formatting of a business plan.

Internet Assignment

Each member of the class should visit http://www.franchise.org/ and execute an online search for other websites which display information about franchising in various nations and sectors of the world. Find at least one website for each major sector of the world. Write a 10-page paper describing the state of franchising in the various regions of the world and note areas in which franchising is more popular and areas in which it is more regulated. Conclude with a description of franchising in a region of the world in which you intend to operate an entrepreneurial venture. The assignment is due by midnight GMT at the end of Week 2.

Real-Time Online Class

The Webcast will be scheduled for 90 minutes. Students will present their analysis of Case 3, followed by 20 minutes of discussion of the case, led by the Professor. The webcast will be recorded and archived for future reference by the class.

Last modified: Thursday, 31 March 2016, 11:58 AM