Entrepreneurship 101
True or False: Entrepreneurship is the process of starting, opening and growing a business.
True
Provide two examples of common characteristics of entrepreneurs.
Vision, Determination, Resourceful, Patience, Creativity, Courage, Empathy, Flexibility, Etc.
True or False: Most entrepreneurs find themselves working long hours, especially during the start-up period of the business.
True.
People.
What is Mr. McConnell's favorite cookie?
Snickerdoodle
List at least three things that entrepreneurship is NOT:
Get rich-quick scheme
Road to becoming famous
Easy
Fill in the blank: Entrepreneurial Skills can be (blank).
Learned.
List 5 famous entrepreneurs presented in class.
Answers may vary.
Provide at least two examples of major companies that use the design thinking process.
Nike, Google, Airbnb, Ford
Where did Mr. McConnell go to college?
The University of Notre Dame
Define Entrepreneurship
The capacity and willingness to develop, organize and manage a business venture along with any of its risks to make a profit; the willingness to start a new business., It is also a mindset that enables you to see opportunities everywhere.
FREE POINTS
FREE POINTS
What is an entrepreneur?
An individual who creates a new business, bearing most of the risks and enjoying most of the rewards.
What are the steps of the design thinking process?
Empathize, Define, Ideate, Prototype, Test
What is the name of Mr. McConnell's dog?
Pierre
What is Entrepreneurial Innovation?
The process of translating an idea or invention into a good or service that creates value for which customers will pay.
What are the six skills of an entrepreneur we discussed in class?
Acts with passion/purpose
Assumes independence
Recognizes opportunities
Manages Risk
Creates Values
Is Resourceful
What is at the heart of the entrepreneurial process?
Innovation and creativity
Opportunity recognition
Teamwork
Marshalling resources
Opportunity recognition
Define design thinking.
Design Thinking - the process of creative problem solving; it encourages organizations to focus on who they are creating for. Its three pillars are using empathy, generating lots of ideas (ideation), and experimentation (testing and prototyping)
What is the name of Mr. McConnell's nephew?
William (Liam)
Which of the following defines proposition?
An innovation intended to make a company or product attractive to customers. What you promise to deliver to customers post-purchase.
The process of getting to know your customer and how to solve problems with your product through intentional feedback.
A shift in a business’ strategy, so as to test a new approach; generally performed following a round of interactions with your target market, and receiving feedback.
A methodology designed to speed up the development of a business or product and rapidly discover its viability; focuses on using the business model canvas instead of traditional business plans.
An innovation intended to make a company or product attractive to customers. What you promise to deliver to customers post-purchase.
Which of the following is not a persistent myth about entrepreneurs?
Leaders are born, not made
Entrepreneurs are gamblers
Solo entrepreneurs limit their potential for growth
Entrepreneurs should be young and energetic
Solo entrepreneurs limit their potential for growth
All of the following are characteristics of a free enterprise system except:
Anyone can start a business
Resources are controlled by the government
Plenty of competition
Consumers have choices
Resources are controlled by the government
What is the ideate step of the design thinking process?
Brainstorm and create solutions.
What is Mr. McConnell's birthday?
February 18th