Question
Skill Building In Entrepreneurship (Part 3)
INSTRUCTIONS: This is a writing assignment that covers the
assigned materials (readings, videos, lectures, etc.) for Module 4.
Download the Skill Builder #3 assignment template (the link is
found below), then write your answers directly into that template
(it is a WORD file). Write a minimum of 200 words for each
question. You may keep uploading versions of your assignment until
you are satisfied with your TURNITIN Originality Report. Remember,
you may only obtain a TURNITIN Originality Report once every 24
hours; so allow yourself plenty of time to resubmit if necessary.
For Skill Builder assignments, focus on thoughts and
reasoning rather than spelling and grammar. You will NOT be
penalized for incorrect spelling or improper grammar or sentence
structure. This is a Socratic exercise – an opportunity for you to
think and express your thoughts. This assignment is a reflection of
the degree to which you are engaged in the course material, and how
well you learned the topics assigned this week. The emphasis of
this assignment is synthesis – the connecting of dots – where you
tie together in a meaningful way (1) the assigned readings and
videos, (2) current business and world events, and (3) your
previous knowledge and experience. There is no correct or incorrect
answer, but rather YOUR answer, based on YOUR thoughts and
understanding of the material/concepts. Please avoid trying to
answer what others would say, or copy what someone else has thought
or written. There are three fundamental mistakes students often
make on these assignments: (1) simply rambling unsupported opinions
or simply listing the topics assigned this week, (2) failing to
apply one’s personal perspective (i.e. writing as if it were a
research paper, with no personal perspective applied), and (3)
failing to incorporate all the assigned materials for the week
(which demonstrates that the student decided to skip some of the
readings and other assigned materials).
Question #1: The theme this week covers the difference
between business plans and business models, and the delivery of the
entrepreneurial pitch. Based on the materials this week, and your
own personal experience and knowledge, describe the five most
important elements of a business plan. List the FIVE elements in
order of priority and place an importance factor on each element (a
number 0-100, with 100 signifying an enormously important element).
Many students argue that it depends on the type of venture
described in the business plan, and if you believe this to be true,
then select a specific type of venture, identify it, and then
answer the question).
Question #2: Based on the materials presented in this course,
and your own personal experience and knowledge, describe why
business models have become so popular – replacing business plans
in so many circles.
Question #3: Describe the business model canvas (BMC), and
explain the difference between BMC and the Lean Canvas. Which do
you feel is more appropriate for a new venture startup (and why)?
Question #4: Many experts argue that Empathy is the most
important skill/behavior possessed by, and demonstrated by
entrepreneurs when developing a business plan or business model (as
well as when an entrepreneur is starting their new venture).
Explain why you believe experts feel this way? Do you agree or
disagree, and why?
Question #5: Just as Dan Pink explained that a pitch is a
story, a business plan and a business model is a story – an
understandable story. Explain why you believe it is (or is not)
important that business plans, business models, and pitches be
succinct (short in duration). Why do so many experts request
one-page business plans? Do you agree that a one-page plan should
be preferred, and why?
Question #6: This week there was a large quantity of videos
(and readings) assigned to explore the process of new venture
creation. Which of these videos most resonated with you in regards
to business founding (or management), and why?
MADM 751: Entrepreneurship, Innovation & Creativity
Louisiana State University Shreveport –
Socratic Skill Builder #3: Entrepreneurial Mindset: Business
Plans vs Business Models [100 points]
Question #1:
Type answer here…
1. Element #1:
2. Element #2:
3. Element #3:
4. Element #4:
5. Element #5:
Question #2:
Type answer here…
Question #3:
Type answer here…
Question #4:
Type answer here…
Question #5:
Type answer here…
Question #6:
Type answer here…
Question #7:
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