Geer, Wendy J. Schiller, Jeffrey A. Segal, Richard Herrera, Dana K. Saladin Dr. The Foundation to Building a Successful Small Business Taking a practical, hands-on approach to entrepreneurship, this text equips students with the tools and critical thinking skills they need to position themselves for enduring small business success.
Unfortunately, not every businessperson respects the rights of ownership to products, processes, names, and works. The dynamics of the global market makes protecting intellectual property even more challenging. The primary weapon is efficient use of the legal system. Before bringing a lawsuit, an entrepreneur must consider the following issues: 1.
Can the opponent afford to pay if you win? Will you get enough from the suit to cover the costs of hiring an attorney? Conclusion The creative process is a tenant of the entrepreneurial experience. Success, and even survival itself, requires entrepreneurs to tap their creativity.
The seven steps of the creative process allow the entrepreneur to transform an idea into a business reality.
Implementation Chapter 2. Creativity results in value and value provides a competitive advantage. Entrepreneurs should protect their creative ideas through patents, trademarks, servicemarks, and copyrights to sustain a competitive edge. Do you agree? Expect students to recognize the ability of a small business to be more responsive to customers, markets and environmental changes compared to larger and businesses.
Small businesses may be more adept to apply creative solutions and be innovative to better solve problems and pursue opportunities. Small businesses can change procedures and processes faster and be more nimble to respond in spite of their potentially limited resources. Select one of the three businesses featured above and use the creativitystimulating techniques described in this chapter to generate ideas for transforming their businesses and getting them back on the pathway to profitability.
Write a brief memo to the business owner s that describes your ideas. Students should consider one or more of these creativity-stimulating options: Brainstorming — This may generate a list of new ideas for these businesses to explore.
Mind—mapping — This graphical technique may improves the ability to view the problem from many sides. TRIZ - This systematic approach to problem solving relies on 40 principles and students may want to refer to Figure 2. Rapid prototyping — Product-based businesses may benefit from transforming ideas into actual models that point out flaws and lead to improvements.
Part 4: Chapter Discussion Questions 1. LO 1 Creativity is the ability to develop new ideas and to discover new ways of looking at problems and opportunities. Entrepreneurship is the ability of the entrepreneur to apply creative ideas into a business model and succeed by doing things in an innovative way. How are creativity, innovation, and entrepreneurship related? LO 2 Creativity is a core business skill that develops new ideas and discovers new ways of looking at problems and opportunities, and entrepreneurs lead the way in developing and applying that skill.
Successful entrepreneurs come up with creative ideas and then find ways to make them work to solve a problem or fill a need. Why are creativity and innovation so important to the survival and success of a business? LO 2 Creativity offers the potential to generate something from nothing. LO 2 Yes, creativity is only useful if it is channeled and directed in a viable business concept. The definition of innovation addresses the importance of applying this creativity to bring value to others.
Expect students to leverage information from the chapter to support their decision. Can creativity be taught or is it an inherent trait?
LO 3 Creativity can be taught. Research indicates that anyone can be creative. Each person can be taught techniques and behaviors that can help them generate new and creative ideas to solve problems and pursue opportunities. How does the human brain function? What operation does each hemisphere specialize in?
LO 3 Each hemisphere of the human brain processes information differently and one side of the brain tends to be dominant over the other. The left brain is guided by linear, vertical thinking and handles language, logic, and symbols. The right brain takes care. Give an example of a situation in which you subjected yourself to one of these mental locks.
LO 4 The ten mental blocks are: 1. Searching for the one right answer 2. Blindly following the rules 4. Encourage them to express and describe that mental lock. What can entrepreneurs do to stimulate their own creativity and to encourage it among workers? LO 5 Enhancing individual creativity: Allow yourself to be creative Give your mind daily input Keep a journal Read books that stimulate creativity Take a class on creativity Take some time off Ways to enhance creativity: Expect it Tolerate and expect failure Encourage curiosity View problems as challenges Provide creativity training Provide support Reward creativity Model creative behavior.
Explain the steps of the creative process. What can an entrepreneur do to enhance each step? LO 7 The steps of the creative process include: 1. Explain the differences among a patent, a trademark, and a copyright. What form of intellectual property does each protect? A trademark is any distinctive word, phrase, symbol, design, name, logo, slogan, or trade dress that a company uses to identify the origin of a product or to distinguish it from other goods in the marketplace.
Examples of these works include video games, software, sculptures, motion pictures, choreography and others. Part 5: Case Studies The following text cases may be used for lecture and assignments for topics presented in this chapter.
Case 2: Mixed Chicks. How to Create a Winning Mindset. How to start the Ultimate Online Business. Branding through Logos. Business Law Now! You are a Gift to Others. Designing Games and Gamification for Learning. Introduction to the Law of Contract. Expert Talk: Efficiency vs. How to build a subscription business. How to Become a Coach. Internet and Technology Law: A U. Law For Business Students.
English Legal System and Obligations. Introduction to the American Legal System. The Anatomy of Your Creativity. Creating an Entrepreneurial Mindset. Approaching Workplace Wellness. Ultimate Business Plan Template. Conveyancing Law for Paralegals and Law Students. Technology evaluation for entrepreneurs.
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