Chapter 2

Question 1

Timmons model

Answer 1

Opportunity, resources, team should fit together/be aligned to be successful (use creativity, leadership and communication)

Question 2

Trends

Answer 2

Wearable, green, payments, maker, health/fitness, Internet of things

Question 3

Generating ideas methods

Answer 3

Focus groups, brainstorming, big-dream

Question 4

Establishing corporate entrepreneurship steps

Answer 4

1. Secure top + middle management commitment
   2.identify ideas top management is interested in
2. Use technology
3. Organization: group of interested managers who will train employees
   5, become closer to customers
4. Be more productive with fewer resources
5. Strong support structure for entrepreneurship
6. Performance rewards tied to process
7. Evaluation system to expand or eliminate

Question 5

Model of the opportunity recognition process

Answer 5

See photo

Question 6

Entrepreneur vs. Manager

Answer 6

See photo

Question 7

Dual process model of coping with negative emotions

Answer 7

Back + forth between 2 approaches: loss orientation (focuses on loss) and restoration orientation (distraction)

Question 8

Porter’s model 5 forces

Answer 8

Competition, bargaining power suppliers/customers, substitute products, new entrants threat

Question 9

Types of innovation

Answer 9

Continuous (least disrupting), dynamic (some disruption on consumption patterns), discontinuous (new consumption patterns and creation of previously unknown products)

Question 10

Stages of product planning + development

Answer 10

Idea stage, concept, product dev., test marketing, commercialization (product lifecycle)