Part 1 of 1 - 100.0/ 100.0 Points
Question 1 of 10 10.0/ 10.0 Points
In your own words explain, are entrepreneurs born or made?
An entrepreneur is a person who will create an empire with hard work,
dedication, ambition and not hesitate twice to a decision that can make
or break his or her business. They are more susceptible to be the risk
taker when tasked with hard choices. Many people can make a hard
decision but what separates the normal average Joe from an entrepreneur
is the success of that difficult decision. So may not want to put up large
amounts of money or sign a contract that can either make a business
wealthy or put them out of commission. I firmly believe that an
entrepreneur is someone who is born that way. I believe this because not
every person can go make the choices they make considering the
consequences they can face. They are not only hard working people but
someone with an amazing vision of success. You can give the average
person all the resources they made need to be the best business person in
the world but the simple fact is if they do not want to do it or take
chances/risks it is pointless. If you gave an entrepreneur the opportunity
as you would a normal person they would take advantage of that before
the average person would. Entrepreneurs drive is nothing compared to a
person who is given everything and does not take advantage of it. I
believe in life that most people living in poverty and have to fight for
what they want will become the best entrepreneurs around. If you are
,handed everything in life why try?
Question 2 of 10 10.0/ 10.0 Points
In your own words, what is a venture capitalist?
In my own words a venture capitalist would be a person or a small group
of investors who look for an up incoming business to invest in. With this
being said they will not just give you money and say make it happen but
they will be there for almost every stage of creating your business. They
would also be more comfortable investing into something that is more in
their field. What I mean by this is a venture capitalist will not go out and
invest into a hotdog stand when he normally invest into electronic and
technology products. One amazing thing that can be compared to this is
the show Shark Tank. You have a small/medium size business owner
come in front of 5-6 very wealthy investors to explain their products and
peruse them why they should invest in the company. In exchange for
investing into their products or business because they do not have the
capital to do what they would like to. The investor once perused to
invest will ask in return for a percentage of the business revenue. It is a
way for business with great ideas or items to become a part of the
everyday lives of people.
Question 3 of 10 10.0/ 10.0 Points
In your own words, explain three of the nine building blocks for
managers to use in developing an innovative and effective business
model.
, There are nine primary building blocks manager use in developing a
business model. Any one of the nine can be seen as important as any
other one. I believe that they all are as important as one another. I will
describe the 3 that I believe are important in my perspective. The first of
three would have to be relationships, without having the proper
relationships with your customers when owning a business it could ruin
it. If your workers, supervisors, managers any employer you have does
not have a positive outlook or positive relationship with your customers
then they will not be happy and come back. It is harder and more
expensive to find new customers then it is to keep the regular customers
happy. A great example is owning a coffee shop, if your employee who
cashes the same person out every day did not have a special
bond/relationship with the customer or knowing what they want before
they say it brings a smile to the customers face and creates a
relationship. Another building block would be partners, without a solid
business partner your company will fall apart. If you do not trust your
partner then your business will hit normal problems that business with
partners who work well together can overcome. If you do not agree upon
anything then your business will not be anything. Lastly, core capacities
is a huge factor for managers to use in developing an innovative and
effective business model. Without core capacities, if your business can
not produce X amount of items or surpass expectations you better have a
new idea. In other words you would have to meet expectations of your
customers and have the amount they need.
Question 4 of 10 10.0/ 10.0 Points
Question 1 of 10 10.0/ 10.0 Points
In your own words explain, are entrepreneurs born or made?
An entrepreneur is a person who will create an empire with hard work,
dedication, ambition and not hesitate twice to a decision that can make
or break his or her business. They are more susceptible to be the risk
taker when tasked with hard choices. Many people can make a hard
decision but what separates the normal average Joe from an entrepreneur
is the success of that difficult decision. So may not want to put up large
amounts of money or sign a contract that can either make a business
wealthy or put them out of commission. I firmly believe that an
entrepreneur is someone who is born that way. I believe this because not
every person can go make the choices they make considering the
consequences they can face. They are not only hard working people but
someone with an amazing vision of success. You can give the average
person all the resources they made need to be the best business person in
the world but the simple fact is if they do not want to do it or take
chances/risks it is pointless. If you gave an entrepreneur the opportunity
as you would a normal person they would take advantage of that before
the average person would. Entrepreneurs drive is nothing compared to a
person who is given everything and does not take advantage of it. I
believe in life that most people living in poverty and have to fight for
what they want will become the best entrepreneurs around. If you are
,handed everything in life why try?
Question 2 of 10 10.0/ 10.0 Points
In your own words, what is a venture capitalist?
In my own words a venture capitalist would be a person or a small group
of investors who look for an up incoming business to invest in. With this
being said they will not just give you money and say make it happen but
they will be there for almost every stage of creating your business. They
would also be more comfortable investing into something that is more in
their field. What I mean by this is a venture capitalist will not go out and
invest into a hotdog stand when he normally invest into electronic and
technology products. One amazing thing that can be compared to this is
the show Shark Tank. You have a small/medium size business owner
come in front of 5-6 very wealthy investors to explain their products and
peruse them why they should invest in the company. In exchange for
investing into their products or business because they do not have the
capital to do what they would like to. The investor once perused to
invest will ask in return for a percentage of the business revenue. It is a
way for business with great ideas or items to become a part of the
everyday lives of people.
Question 3 of 10 10.0/ 10.0 Points
In your own words, explain three of the nine building blocks for
managers to use in developing an innovative and effective business
model.
, There are nine primary building blocks manager use in developing a
business model. Any one of the nine can be seen as important as any
other one. I believe that they all are as important as one another. I will
describe the 3 that I believe are important in my perspective. The first of
three would have to be relationships, without having the proper
relationships with your customers when owning a business it could ruin
it. If your workers, supervisors, managers any employer you have does
not have a positive outlook or positive relationship with your customers
then they will not be happy and come back. It is harder and more
expensive to find new customers then it is to keep the regular customers
happy. A great example is owning a coffee shop, if your employee who
cashes the same person out every day did not have a special
bond/relationship with the customer or knowing what they want before
they say it brings a smile to the customers face and creates a
relationship. Another building block would be partners, without a solid
business partner your company will fall apart. If you do not trust your
partner then your business will hit normal problems that business with
partners who work well together can overcome. If you do not agree upon
anything then your business will not be anything. Lastly, core capacities
is a huge factor for managers to use in developing an innovative and
effective business model. Without core capacities, if your business can
not produce X amount of items or surpass expectations you better have a
new idea. In other words you would have to meet expectations of your
customers and have the amount they need.
Question 4 of 10 10.0/ 10.0 Points
