Please answer the following discussion questions under each question. Please cite any researched work.
- Suppose you intend to start a theme restaurant that can be replicated and franchised. Based on an analysis of some existing theme restaurants, what types of revenue streams could this business generate?
- How has the environment for product development changed in the last decade, and what does that mean to entrepreneurs starting new businesses?
- Visit the U.S. Patent Office at www.uspto.gov (Links to an external site.)Links to an external site.. Pick a patented product that interests you, and do some brief research to determine whether the patent has ever been commercialized. If so, in what ways? What can you conclude about the potential for this patent?
-I would also recommend watching this video on the U.S. Patent Office website: How to Conduct a Preliminary U.S. Patent Search: A Step by Step Strategy
- Interview/research an angel and a banker to learn what his or her expectations are when reviewing business plans for new ventures. Compare their criteria for choosing to fund or not fund a new business.
- Go to bplans.com(Links to an external site.)Links to an external site. and select a business plan to review. Using the guidelines for an effective plan given in Chapter 10, briefly evaluate the plan. What are its strengths and weaknesses? How can it be improved?
- What is the purpose of the imaginary tour of a business? Give an imaginary tour of the business you are developing per your business plan.
- Choose a young company that has a global supply chain ( or do this assignment using a product in which you are interested. Trace the product up the supply chain to its source of raw materials. Then begin the analysis to determine whether this is the most efficient supply chain). Develop a process flow chart depicting the supply chain, and analyze it for efficiency and flexibility based on information provided in the chapter.
- What role should social networking play in your marketing strategy?
- What are four characteristics of high-growth companies? Can you name a few?
- Why is it important to start a growth-oriented business with a plan for globalization from the beginning?
