Intro to Entrepreneurship – Assessment #7.1
Develop at least a 100-word essay for each question in APA format, 6th or 7th edition. Use at least two or three references and therefore, and proper citations in the text. Submit the assignment in the corresponding forum, during this week.
BONUS QUESTION: Study the popular social networking site LinkedIn. What growth strategies has the company employed? What are the most appropriate growth strategies for this firm to use going forward? Why?
1.Seven months ago, Peter launched a chain of kiosks located in malls that sell smartphone accessories. His first kiosk was in a mall in Washington, D.C., and he is now expanding into Maryland, Virginia, and Pennsylvania. Peter’s company has grown quickly from one kiosk to 142, and he hopes to add 200 kiosks per year over the next five years. Recently, a Virginia business periodical ran an article on Peter’s business, focused primarily on whether the business was growing too fast. Peter was upset when he read the article, and he called you to vent his irritation. After he calmed down he said to you, “Tell me the truth. Is there something to what these guys are saying? I’m opening new kiosks as fast as I can. Isn’t that a good thing?” What would you say in response to Peter’s questions? Explain your answer.
Melinda is a food products engineer who has developed an innovative approach to the packaging of meat. Her approach will extend the shelf life of most meat products by about 30 percent. Melinda is getting ready to try to sell the idea to investors. What could Melinda tell the investors that would give them confidence that she is prepared to cope with the challenges of rapid growth? Explain your answer.
Zynga is a social network game developer that develops browser-based games that work both as stand-alone games and as application widgets on social networking sites such as Facebook. What are the pluses and minuses of Zynga’s approach to launching games that rely on another company’s platform (i.e., Facebook) to reach its intended audience? Is Zynga growing primarily via internal or external growth strategies? Explain your answer.
Brian is an entrepreneur who has invented several devices that are used in the telecommunications industry. He has patented the devices and manufactured them in a job shop in Oklahoma City. Brian sells the devices directly to AT&T and Verizon. Last week, Brian got a certified letter in the mail from Nokia, indicating the firm’s interest in licensing the technology that is represented in one of his devices. Brian doesn’t know anything about licensing and has turned to you for help. What would you tell Brian about licensing, and how would you suggest that he respond to Nokia’s letter?
