Question 1

Describe the four major types of information presented in a business plan.

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Question 2

Briefly describe industries in which small businesses seem to be most effective and why this seems to be the case.In what area are small businesses least successful in comparison to large businesses?

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Question 3

A new business can be started either from scratch or by buying an existing business.Which method seems best to you? Explain your answer.

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Question 4

When the business plan is finished,the entrepreneur must choose a structure.What does that mean?

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Question 5

What is the nature of entrepreneurship?

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Question 6

The media often portray big business as crushing small business.In fact,what is the relationship between big and small business more likely to be like?

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Question 7

Insead is a business school in France.Half of its alumni go on to start their own business or purchase one.Describe recent trends in small-business start-ups and how an Insead education could help an entrepreneur.

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Question 8

List and briefly describe the major causes of small business failure and success.

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Question 9

Special Exercises
Jennifer Laurash was a middle manager in corporate America.She switched to work as a full time mother when her children were young.Then she started the Tiny Little T-shirt Company in her basement.Her clothing line is now international.
Match the following.You may use a response once,more than once,or not at all.

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Jennifer Laurash was a middle manager...

Question 10

The distinctive competencies of small business usually fall into three areas.Briefly discuss each of those areas.

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Question 11

Imagine you are working for 3M,a company known for supporting innovation.In your private time you create a new product.Will you start your own company? Why or why not?

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Question 12

You have a great idea for a new children's toy.Describe your financing options.

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Question 13

How has e-commerce affected entrepreneurship?

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Question 14

What is the current trend for minority and women-owned businesses? Why is it happening?

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Question 15

List and briefly describe the four programs available from the SBA that are designed to help small business operators gain access to management expertise.What is the SBA's other primary function?

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Question 16

Describe the role of entrepreneurship in society.

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Question 17

Match the following.You may use a response once,more than once,or not at all.

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Quiz 10: Managing New Venture Formation and Entrepreneurship