These questions will cover the material from Weeks 1?7 of this course and is due at the end of Week 8.;Please briefly answer the following in a 10?15-page paper. Be sure your answers are well written and organized, and please use proper grammar and spelling. You will submit your final written report in a MS-Word format, APA format, with references.;There are 22 questions in this assignment and the final assignment is worth 220 points (22% of total grade). Questions are worth 10 points each.;Good luck on this assignment!;1. Why are small businesses an important consideration for state and federal politicians?;2. Explain, in your own words, Schumpeter?s view of entrepreneurship?s role in an economy and society.;3. What are the stages described in the model of the entrepreneurial process? What are the factors that give birth to a new enterprise and influence how it develops from an idea to a viable enterprise?;4. Explain the rationale behind the statement, ?A first class team with a second class idea is better than a second class team with a first class idea.?;5. Why is the statement, ?My startup has no competition,? always wrong? How can you find out about your competitors?;6. What can an entrepreneur do when there are no business opportunities at all?;7. What are some of the trade-offs of the first mover?s advantage?;8. Why is marketing critical for entrepreneurs?;9. Why is the marketing done by entrepreneurs different from marketing done by established companies?;10. Explain why solo entrepreneurs are generally less successful than team players.;11. Describe the pros and cons of a dual job strategy at the early stages of the venture.;12. Three major problems your team may face are burnout, interpersonal conflicts, and family pressure. Describe how you can prevent and overcome them.;13. Inexperienced entrepreneurs often believe the misconception that a business plan is solely designed as a brochure for investors. The financial benefits of using a business plan to raise capital are well known. What are some additional benefits?;14. What are the critical risks entrepreneurs need to identify in the business plan?;15. Explain why it is important to construct pro forma financial statements for new ventures.;16. Describe venture capital investing from the perspective of the firm?s general partners.;17. Name the ways of valuing a business, and explain why none of them can be called ideal.;18. Give a list and a brief description of the possible ways to finance a new venture.;19. Name at least eight criteria an ideal candidate for venture capital has to meet.;20. To qualify for assistance from the Small Business Administration, the proceeds of an SBA-guaranteed loan must be used for what purpose?;21. What are the pros and cons of patenting a product?;22. List the common business entities and describe them.
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