Skill Building In Entrepreneurship

INSTRUCTIONS: This is a writing assignment that covers the assigned materials (readings, videos, lectures, etc.) for Module 5. Download the Skill Builder #5 assignment template (the link is found below), then write your answers directly into that template (it is a WORD file). Write a minimum of 100 words for each question.  This is a TURNITIN assignment on Moodle, which means that when you submit it, you will be submitting it to TURNITIN, and thus receive an originality report indicating possible plagiarism or cheating (there have been problems in the past with students copying the work from past students, or copying from materials previously posted on the internet). You may keep uploading versions of your assignment until you are satisfied with your TURNITIN Originality Report.

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: As we discussed in Skill Builder #1 common misconception and root of confusion in the discussion of innovation, is the distinction between invention and innovation. Many argue that innovation is invention taken to the marketplace and accepted. Explain in your own words the difference between invention and innovation – and explain how you might deal with an inventor that believes they want to become an entrepreneur. How would you deal with that person, toward what resources would you point them, how would you explain the difference between them as an inventor, and an entrepreneur?

Question #2A: Describe Christenson’s idea of “Innovator’s Dilemma,” and then describe his idea of “Innovator’s solution.” Do you agree with these two concepts (why or why not)?

Question #2B: How might you (or any entrepreneur or manager) benefit by thoroughly understanding these two concepts?

Question #2C: How does innovation relate to creativity?

Question #2D: How does innovation and creativity apply to entrepreneurship and new venture creation?

Question #3A: Explain the main idea behind the Innovator’s DNA and how you might apply it to your current organization, or to a new venture you might start.

Question #3B: Do you believe you can find/hire innovative people?

Question #3C: Do you think hiring innovative people is wise?

Question #3D: Do you believe you can actually become more innovative, or teach your employees to be more innovative; and how?

Question #4: Describe the idea of Corporate DNA and how it applies to entrepreneurship. How can an entrepreneur identify or mold his new venture’s DNA? How might an entrepreneur change the firm’s Corporate DNA to improve the firm (either in performance, or otherwise)?

Question #5: Reflect on your own experiences and describe how the nature of work has changed thus far in your lifetime (your own experience, the experiences of your parents and older friends).  Has work become better or worse, and why (explain)? What technologies have led the changes, and how?

Question #6A: Describe the workplace of the future.  Again, in your own words, based on your experience, training, knowledge, and the materials presented in this course.

Question #6B: Describe, in your own opinion (based on experience, training, knowledge, and the materials assigned this week and in this course) how will technology impact the nature of work in the coming three decades?

Question #6C: What can you (this means you personally – in your job or career – or work plans) do to prepare for these changes; and more importantly, how can you exploit these changes (to leverage wealth, your career, etc.)?

Question #6D: How will the changes in the workplace impact entrepreneurs hiring employees, trying to make a profit, and trying to train and retain good employees?