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Study AID FOR COMM 320 Midterm EXAM
Entrepreneurship (Concordia University)
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STUDY AID FOR COMM 320 MIDTERM EXAM (FALL 2018)
Prof: Judy Nagy (sections A, B, D)
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Exam will begin at start of class Please be on time.
Closed book
No electronic devices or other materials on desk
Use a pen, write neatly
Short case and 4 mini-essay type questions
Summary Of Content:
Week 1: The power of Entrepreneurship
n Entrepreneurship and Small Business in Canada
q Learning Objective 1.1 Describe entrepreneurship and small business in
Canada.
n Causes of the Entrepreneurial Revolution
q Learning Objective 1.2 Outline the causes of the entrepreneurial revolution.
n Global Entrepreneurship Monitor (GEM): THE GEM MODEL
q Learning Objective 1.3 Describe what is the Global Entrepreneurship Monitor
(GEM).
n Principal Findings from GEM
q Learning Objective 1.4 Outline the principle findings from GEM.
n Twenty-First-Century Economies: Anglo-Saxon or Social Models
q Learning Objective 1.5 Compare the Anglo-Saxon economic system and the
social model.
Week 2: The Entrepreneurial Process
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Critical Factors for Starting a New Enterprise
• Learning Objective 2.1 Identify the critical factors for starting a new venture.
Evaluating Opportunities for New Businesses
• Learning Objective 2.2 Evaluate the opportunity for a new business.
Determining Resource Needs and Acquiring Resources
• Learning Objective 2.3 Identify the resources needed for a new business.
Profit Potential
• Learning Objective 2.4 Evaluate the profit potential of a new business.
Ingredients for a Successful New Business
• Learning Objective 2.5 Identify the factors for a successful new business.
Barringer and Ireland’s Model of Entrepreneurial characteristics (class slides)
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Barringer and Ireland’s Model of the 4 Qualities of a Good Opportunity: Timely,
attractive, durable, adds value (class slides)
Ways of Identifying an Opportunity (class slides)
Week 3: Opportunity Recognition, Shaping and Re-shaping:
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From Glimmer to Action:
How Do I Come Up with a Good Idea?
• Learning Objective 3.1 Describe how to come up with a good entrepreneurship
idea.
Is Your Idea an Opportunity?
• Learning Objective 3.2 Discuss the five major areas that determine if an idea is
a viable entrepreneurship opportunity.
‘‘I Don’t Have an Opportunity’’
• Learning Objective 3.3 Explain how entrepreneurs can strengthen their idea
opportunity.
IDEO model
Feasibility Analysis (class slides)
Week 4: Market Research (class slides for topics below)
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Types of research: primary and secondary
PEST
Porter’s Five forces
Week 5: Prototyping your Idea, Business Model
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What is Prototyping?
• Learning Objective 4.1 Identify the core purpose of Prototyping
• Low-Fidelity versus High-Fidelity Prototypes?
• Learning Objective 4.2 Explore potential opportunity with the help of
prototypes
• Looks-Like and Works-Like Prototypes
• Learning Objective 4.3 Explain how entrepreneurs can strengthen their idea
opportunity
Types of Prototyping
• Learning Objective 4.4 Learn to simplify product concepts
Looks-Like Prototyping in Crowdfunding
• Learning Objective 4.5 Understand the value of prototyping in crowdfunding
Co-Creation
• Learning Objective 4.6 Explain how customer engagement is at the center of
product design
Prototyping Services
• Learning Objective 4.7 Explain how services can also be prototyped
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Minimum Viable Product
• Learning Objective 4.8 Explain how MVP drive early engagement and rapid
learning
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The Business Model
• Learning Objective 5.1 Define your Business Model is.
The First-Mover Myth
• Learning Objective 5.2 Understand what the “First-Mover Advantage” is and its
dangers.
Formulating a Winning Strategy
• Learning Objective 5.3 Identify the paths to creating value for your customers
and reflecting your Business Model.
• Revenue vs cost model
• Lean canvas (class slides)
• Barringer and Ireland full business model template (class slides)
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