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Entrepreneur paper
A key element to success in today’s global-based arena is understanding, involvement in, and support of innovation and entrepreneurship, whether as an individual or as an organization. Innovation and entrepreneurship are the future of everything – including you and your career success. So, an understanding of and an active participation in, the processes of innovation is a critical element in your academic preparation.
Your entrepreneurship paper is designed to provide you with experience in how entrepreneurs used creativity and business skills in product development/innovation and were able to build a successful business around their ideas. The specific details for the assignment are listed below. Make sure that your paper is in your own words and where direct quotes are used that you properly cite the source(s). Your paper is due to the dropbox no later than Friday, August 5th @ 5:00p.m.
BUAD 1010 – ENTREPRENEUR Paper – Summer 2022
DESCRIPTION:
This assignment is designed to enhance and connect product design and development, innovation, creativity, and business entrepreneurship concepts that help create ‘new age entrepreneurs/business persons. To be prepared to meet current and future challenges, business students must understand and find ways to successfully nurture creativity, collaboration, and commitment to entrepreneurial spirit and processes in any organization. This will result in the positive life-long commitment needed to grow and sustain your business and its competitive advantage(s).
GETTING STARTED, ENTREPRENEUR SELECTION:
You should identify an entrepreneur and the product/service they created, developed, and commercialized. Please send me an email containing your selection before July 18, 2022. Do not procrastinate –start thinking now and plan to work on the paper a little bit every week until the due date on August 5th, 2022. Some examples of entrepreneurs might include:
Robert & Shelia Johnson, BET
Sara Blakley, Spanx
Howard Schultz, Starbucks
Alberto ‘Beto’ Perez, Zumba Fitness
Sidra Qasim & Waqas Ali; Atoms’shoes
Martha Stewart, lifestyle innovator George Eastman, Kodak (Eastman Kodak)
John Mackey, Whole Foods
Kevin Plank, Under Armor
Steve Case, AOL
George Eastman, Kodak
Sir James Dyson, Dyson Vacuum
Jessica Alba, The Honest Company and Honest Beauty
Daymond John, FUBU
Victoria Hale, PhD, Medicines360 & One World Health
Eric Yuan, Zoom
Jack Ma, Alibaba
Jensen Huang, NVIDIA
Note: The above are only examples. You can select someone not on the list. Select someone that you are interested in. There are a few individuals I will not accept: Jobs, Gates, Henry Ford, the Wright Brothers, Walt Disney, Edison.
TERM PAPER REQUIREMENTS:
Your paper should be properly researched and written. APA or MLA style will be fine. I expect a paper that is 1.5 spacing, 11-point Times New Roman font, and is between 4-5 pages minimum. Make sure to properly footnote and include a References* page. Exhibits* to support the content of your paper are encouraged. You are to submit your completed paper as a Word document to the assignment drop box by Friday, August 5th @ 5:00p.m. You should have a cover page* with your paper title, your name, and date submitted. (Note: * does not count towards total page length requirement). The paper is worth a possible 50 points and is graded for content as well as format & structure. I am interested in your assessment of the selected entrepreneur and your opinions as to why the individual was successful and how they accomplished it.
Questions that your paper should answer:
Your paper needs to answer/address each of the below questions. Do not simply list each question and then provide a couple sentences to answer the question. The paper is expected to be a true paper composition, not a question/answer format. Think of yourself as writing an article for a newspaper, professional journal, other publication.
Who is your entrepreneur? Provide a brief 1-2 paragraph summary of the entrepreneur. What is the product your entrepreneur developed and what does it do? Provide a clear description of the product.
Explain the features of the product. How is (was) the product unique and/or innovative? Describe how the product is different & innovative from what exists in the market today (or what existed when the product was first introduced). What was the actual innovative/creative element?
What need does (did) the product address in the market? Describe the problems/needs faced by customers that were solved by the product. Who are the competitors in the market? Describe who you believe the competitors are and their specific strengths/weaknesses. What is (was) the intellectual property (IP) protection for the product/service idea? Describe any patents (if applicable). Include a discussion of any copyrights and trademarks. Note: you will need to do a patent and trademark search.
Do you think the IP helped the product & entrepreneur be successful? Why or why not?
What is (or was) the future for your entrepreneur’s company? What about the original product – is it still in the market? Has it changed? How & why was that necessary?
How has the entrepreneur and the product had to evolve?
How do you believe the entrepreneur and their companies/products will need to evolve to remain viable entities going forward?
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