106 ENTREPRENEURSHIP
- Discuss the primary factors in political and governmental analysis. Compare and contrast
these factors for the following countries: United States, India, Russia, China, and Nigeria. - Identify the stakeholders of the university or college that you attend. Which are the most
powerful? Why and when? Which are the least powerful? Why and when? - Discuss how technological change creates entrepreneurial opportunities. What are some
current technological changes and what opportunities do they create? - Discuss how demographic change creates entrepreneurial opportunities. What are some
current demographic changes and what opportunities do they create? - Discuss how ecological change creates entrepreneurial opportunities. What are some cur-
rent demographic changes and what opportunities do they create? - How does challenging old assumptions and traditions lead to entrepreneurial opportunities?
- How can the entrepreneur influence the power of buyers and suppliers toward competitive
conditions more favorable for the entrepreneur? - How do substitutes influence industry attractiveness and profitability?
- How do entry barriers influence industry attractiveness and profitability?
- Explain the paradox of entrepreneurship. What can you do about this paradox to help
launch your venture?
EXERCISES
1. Here is a list of problems to help students develop a business idea. Perform an environmen-
tal analysis on one of these and then develop five business ideas that would help solve the
problem.
a. Traffic in big cities is too heavy during rush hour.
b. Cyber crime is spreading.
c. There are so few chances for married people to have some time to themselves.
d. Older people complain about their aches and pains all the time.
e. Getting documents (licenses, permits, certificates, etc.) from the government takes for
ever.
f. Public and municipal services are constantly deteriorating.
g. It is a bother to make a good cup of coffee in the office.
h. Children play too many violent video games.
i. Minor surgery is only minor when someone else is having it.
j. Too many people do not really understand the value of an online degree program.- Return to the business treatments and business ideas that you developed in the Chapter 2
exercises.
a. Set up a system for analyzing the business environment for that business.
b. Where will the information come from?
c. How will you assess and evaluate it?
d. Evaluate the six dimensions for your business.
Political-government
Stakeholders
Macroeconomy
Technology
Sociodemographic
Ecology