Briefly describe the various methods of researching a business opportunity.

Chapter 2 Study Questions:

  1. Why is innovation important and how is it changing?
  2. What are the 2 main types of innovation? Give 2 examples of each type.
  3. What is meant by the phrase “disruptive innovation?” Provide 2 company examples. (min.100 words)
  4. What are the ways to generate business ideas?
  5. Briefly describe the various methods of researching a business opportunity.
  6. List the 5 phases to complete an opportunity analysis.
  7. When does an idea need to be protected?
  8. Describe the evaluation screening process.
  9. Why do you think Dell was successful when other companies trying the same model failed?

Chapter 3 Study Questions:

  1. What definition of business model do you find most useful, and why?
  2. Why does the canvas model help to better understand a business?
  3. How do the 9 sections lead to a better understanding of the business model?
  4. Describe the MVP process and how is it best used with customers? (min.100 words)
  5. Why was Greif Packaging, described in Chapter 2, able to capture more of the value in the supply chain? Where did the extra value come from, and were there others who lost the value they were selling?
  6. What is digital collaborative filtering? Name 3 companies that are successfully using this technique in their business model.
  7. What do you find most innovative about the DBI business model? Can you think of similar examples where these concepts might be used?
  8. Name 3 similarities and 3 differences between a franchise and a license.
  9. List 4 types of corporate partnering with the advantages and potential disadvantages to both large and small companies.
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