Building Blocks

Question 1

1. In your own words explain, are entrepreneurs born or made?

2. In your own words, what is a venture capitalist?

3.In your own words, explain three of the nine building blocks for managers to use in developing an innovative and effective business model.

4. What is a competitive advantage? How does marketing contribute to the creation of a competitive advantage

5. What is market segmentation? List the steps in the market segmentation process.

6. Discuss several reasons why marketers continue to have a difficult time understanding, predicting, and explaining consumer behavior.

7. In your own words, what are the characteristics of the four types of business legal entities?

8. How does the cultural environment affect international marketing activities?

9. Describe the advantages and disadvantages of a flat versus tall organizational structure.

10. Explain the concept of employees as stakeholders in your own words

Question 2

You are an entrepreneur on the verge of starting a new company. Describe the company you are planning to start. Is it a service or a manufacturing company? What will be your main source of operating revenue? What expenses are you anticipating? Categorize your anticipated costs as period or product costs and identify whether each is an indirect or a direct cost. Identify your direct materials, direct labor, and manufacturing overhead costs.

Remember, the information you gather in this assignment will contribute to your final project.

Be sure to cite any sources using APA style.