answer any 4

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answer 4 of the questions below. Please make use of course
materials (textbook, readings, videos, class discussions, podcasts) in answers. It should be between 2 & 4 pages double-spaced.

1) What are some of the difficult “truths” about entrepreneurship and small
business ownership that people don’t often talk about?

2) Discuss the benefits/rewards of small business at the societal level. Please
share examples. Discuss the benefits/rewards of small business at the
personal/individual level. Please share some examples.

3) What are some of the potential competitive advantages of small firms versus
corporations and large organizations?

4) What is the role of ethics in a small business? How can a small business owner
ensure that their business is operated ethically.


5) Discuss a business where the owner’s legacy is clear and meaningful. Does this
matter? Please explain why or why not.


6) What are the three basic strategies that a new venture can choose? (give an
example for each one)

7) Have you found a problem worth solving? How do you know its a problem
worth solving? Please explain.

8) Discuss a few of the sources of innovative opportunities that a potential small
business owner may explore if they want to create a new venture.

9) ______________ is the most interesting small business in Northern Virginia
because — use some of our concepts from class in justifying your choice.


10) “Every mineral a rock and every plant a weed,” until a human being puts it to
use. This a basic Drucker thought on innovation. Do you agree/disagree? Why?

11)The textbook discusses the characteristics of successful entrepreneurs – which
ones really stand out to you? Why? Share some examples.

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