Scenario Based Case
Which of the following is NOT the name of one of the Scenerio-Based Case?
Start Crossroads:Navigating Ventures
My First Business: Campus Store
Green Growth:Navigating Expansion Decisions in Hydroponic Lettuce Farming
My First Business: Campus Store
In the video “Creative Destruction” what innovative invention disrupted the ice industry?
Freezer
What type of business is owned and run by one person, is the easiest to form, and gives the owner full control but unlimited liability?
Sole Proprietorship
This main character learns that passion alone isnt enough to build a business
Owen Chase
What percentage of small businesses in the U.S. are owned and operated by a single individual?
About 80%
Who was the student that had to choose between their start up business and continuing their education?
Professor Anna long
Name one of the three types of Innovations
Sustaining, Low-End Disruption & New-Market Disruption
What type of business is owned by two or more people who share profits and losses equally, with each contributing money, property, or skills?
Partnership
According to the book, entrepreneurship isn’t about ideas– its about finding this
A problem worth solving
Which famous entrepreneur was fired from their own company before returning years later to lead it to success?
Steve Jobs (Apple)
In the cofounder case, what percentage of the company did the scientist request and did the cofounders agree to it?
50% and no they did not, they negotiated
What types of problems do Social Entrepreneurs try to resolve?
World's most pressing social problems
What business structure protects its owners’ personal assets while allowing flexible management and “pass-through” taxation?
Limited Liability Company (LLC)
Entrepreneurs shouldn’t act like fortune-tellers predicting success– instead, they should act like these investigators who validated assumptions through evidence.
Detectives
What percent of startups fail within the first five years?
Roughly 50%
What was the reason for the safety app venture starting off so well?
One of the cofounders had management experience
In the TED talk of Adam Grant what was a vice when it came to productivity, yet a virtue for creativity?
Procrastination
What type of corporation pays taxes on its profits, and shareholders also pay taxes on dividends, leading to double taxation?
C-Corporation
Going “all in” doesn’t mean risking everything on your first idea– it means committing to this process
Continuous learning and testing
Which billionaire entrepreneur started their business in a garage selling books online?
Jeff Bezos (Amazon)
In the Hydroponic Lettuce Farming business, the owner shared what percentage of equity between him and the Angel investor? What leads the entrepreneur to lose the business?
What is 50%, the entrepreneur could not pay off the 12 month term loan.
What are the 4 types of Ventures?
Survival, Lifestyle, Managed Growth & Aggressive Growth
What type of for-profit company is legally committed to achieving social or environmental goals while still earning profits?
Benefit Corporation (B-Corp)
This emotion often blinds founders from seeing the truth about their ideas
Pride/Ego
What common trait do most successful entrepreneurs share, according to research?
Resilience — the ability to recover quickly from setbacks