Instructor Manual (Answers)
Entrepreneurship The Practice
and Mindset 2nd Heidi Neck,
Christopher Neck, Emma Murray
(All Chapters 1-16, 100% Original
Verified, A+ Grade)
This is The Only Original and
Complete Instructor Manual for 2nd
Edition, All Other Files in The
Market are Fake/Old/Wrong
Edition.
All Supplement Files Download
Link is Added At The End of PDF.
, Instructor Manual Entrepreneurship The Practice and Mindset 2nd Heidi Neck, Christopher Neck, Emma Murray
Table Of Contents
• 1. Practicing Entrepreneurship
• 2. Activating an Entrepreneurial Mindset
• 3. Creating and Recognizing New
Opportunities
• 4. Using Design Thinking
• 5. Building Business Models
• 6. Developing your Customers
• 7. Testing and Experimenting New Ideas
• 8. Developing Networks and Building Teams
• 9. Creating Revenue Models
• 10. Planning for Entrepreneurs
• 11. Learning from Failure
• 12. Bootstrapping and Crowdfunding for
Resources
• 13. Financing for Startups
• Supplement A: Financial Statements and
Projections for Startups
• 14. Navigating Legal and IP Issues
• 15. Engaging Customers Through Marketing
• Supplement B: The Pitch
• 16. Supporting Social Entrepreneurship
Instructor Manual Entrepreneurship The Practice and Mindset 2nd Heidi Neck, Christopher Neck, Emma Murray
, Neck,
Instructor Manual Entrepreneurship The Practice and Mindset 2nd Heidi Neck, Christopher Entrepreneurship
Neck, 2e
Emma Murray
SAGE Publishing, 2021
Answers to Questions in the Text
Chapter 1: Practicing Entrepreneurship
Entrepreneurship in Action
Juan Giraldo, Founder, Waku
1. At a high level, what differentiates Waku from other healthy alternative beverages like
Kombucha?
a. Waku’s wellness teas are made from ingredients with medicinal benefits. The
drink is to support not only the consumer’s physiology but also mind and spirit as
well.
2. Why is it that Juan was able to approach his suppliers with a request like the one he made
regarding payment?
a. Juan built excellent relationships with his suppliers. After 6 months of building
trust with one another, a question like the one he proposed was not out of line at
all. Both parties knew that mutual benefits would come from continuing to do
business with one another. Most people know that being an entrepreneur means
being creative; yet, it also demands that you are able to build working
relationships that enable you to be creative with parties that directly affect your
business.
3. Does Waku have a responsibility to the region of the world that it sources its ingredients
and finds its inspiration?
a. Waku could probably use cheaper ingredients sourced from other locations, but
that would not be what makes the company so special. It is tied closely to its
Ecuadorian roots and it willingly bears the responsibility of maintaining great
relationships with its suppliers there for betterment of everyone.
Mindshift
Tell Me Your Story
1. In what ways did your chosen entrepreneur confirm your beliefs and expectations?
Sample Answer: Unique to each individual student’s interview experience.
2. In what ways did the story overturn them?
Sample Answer: Unique to each individual student’s interview experience.
3. What did you learn that was most unexpected?
Sample Answer: Unique to each individual student’s interview experience.
Instructor Manual Entrepreneurship The Practice and Mindset 2nd Heidi Neck, Christopher Neck, Emma Murray
, Neck,
Instructor Manual Entrepreneurship The Practice and Mindset 2nd Heidi Neck, Christopher Entrepreneurship
Neck, 2e
Emma Murray
SAGE Publishing, 2021
Summary Questions
1. Explain the importance of practice and action in entrepreneurship.
Practice and action make it possible to achieve success. Many of the successful entrepreneurs
behind major corporations today established their companies by acting, and intuitive decisions
enabling success were made possible by the insights gained from practicing, acting, and then
learning and reflecting.
2. List the seven lesser-known truths about entrepreneurship.
Contrary to popular belief, there is no research definitively confirming character traits of
successful entrepreneurs are inborn. Despite a disposition for action, entrepreneurs approach risk
in a much more calculated fashion than they are given credit for, and many highly successful
entrepreneurs achieve their success through collaborative actions.
3. Explain the history of entrepreneurship in the United States.
There are five main eras of entrepreneurship in the United States: Emergence of the Self-Made
Man; An Entrepreneurial Nation (1st Industrial Revolution 1776–1865); The Pinnacle of
Entrepreneurship (2nd Industrial Revolution 1865–1920); Rise of Institutional America (Interwar
and Postwar America 1920–1975); and Confined Re-Emergence (Knowledge Economy 1.0
1975–present).
4. Explore the different forms of entrepreneurship in practice today.
Corporate entrepreneurship (or intrapreneurship) is entrepreneurship within large corporations.
Inside entrepreneurs are similar to corporate entrepreneurs, but they can be found in any type of
organization, large or small, nonprofit or for-profit, and even among governing bodies.
Franchising and buy-outs are popular ways to start relatively near the ground level. Social
entrepreneurship—entrepreneurship focused on making the world a better place—is manifested
in nonprofit and large, for-profit firms alike. A form of social entrepreneurship is the benefit
corporation, or B-Corporation, which has been created to designate for-profit firms that meet
high standards of corporate social responsibility. Family enterprises, entrepreneurship started
within the family, remain a dominant form of business development in the United States and
abroad. Serial entrepreneurs are so committed to entrepreneurship that they are constantly on the
move creating new businesses.
5. Illustrate the global diversity of entrepreneurship and its impact.
There are hundreds of millions of entrepreneurs worldwide. Despite its appearance as an
entrepreneurial powerhouse, the United States is eclipsed by many world regions in terms of the
percentage of the populous engaged in entrepreneurship. Though entrepreneurs may be born out
of necessity or to exploit opportunities, they all benefit from education, financial resources,
accessible knowledge, and government support providing infrastructure that will enable the
fledgling businesses to achieve success.
6. Explore the different ways in which this book will help you practice entrepreneurship.
Instructor Manual Entrepreneurship The Practice and Mindset 2nd Heidi Neck, Christopher Neck, Emma Murray
Entrepreneurship The Practice
and Mindset 2nd Heidi Neck,
Christopher Neck, Emma Murray
(All Chapters 1-16, 100% Original
Verified, A+ Grade)
This is The Only Original and
Complete Instructor Manual for 2nd
Edition, All Other Files in The
Market are Fake/Old/Wrong
Edition.
All Supplement Files Download
Link is Added At The End of PDF.
, Instructor Manual Entrepreneurship The Practice and Mindset 2nd Heidi Neck, Christopher Neck, Emma Murray
Table Of Contents
• 1. Practicing Entrepreneurship
• 2. Activating an Entrepreneurial Mindset
• 3. Creating and Recognizing New
Opportunities
• 4. Using Design Thinking
• 5. Building Business Models
• 6. Developing your Customers
• 7. Testing and Experimenting New Ideas
• 8. Developing Networks and Building Teams
• 9. Creating Revenue Models
• 10. Planning for Entrepreneurs
• 11. Learning from Failure
• 12. Bootstrapping and Crowdfunding for
Resources
• 13. Financing for Startups
• Supplement A: Financial Statements and
Projections for Startups
• 14. Navigating Legal and IP Issues
• 15. Engaging Customers Through Marketing
• Supplement B: The Pitch
• 16. Supporting Social Entrepreneurship
Instructor Manual Entrepreneurship The Practice and Mindset 2nd Heidi Neck, Christopher Neck, Emma Murray
, Neck,
Instructor Manual Entrepreneurship The Practice and Mindset 2nd Heidi Neck, Christopher Entrepreneurship
Neck, 2e
Emma Murray
SAGE Publishing, 2021
Answers to Questions in the Text
Chapter 1: Practicing Entrepreneurship
Entrepreneurship in Action
Juan Giraldo, Founder, Waku
1. At a high level, what differentiates Waku from other healthy alternative beverages like
Kombucha?
a. Waku’s wellness teas are made from ingredients with medicinal benefits. The
drink is to support not only the consumer’s physiology but also mind and spirit as
well.
2. Why is it that Juan was able to approach his suppliers with a request like the one he made
regarding payment?
a. Juan built excellent relationships with his suppliers. After 6 months of building
trust with one another, a question like the one he proposed was not out of line at
all. Both parties knew that mutual benefits would come from continuing to do
business with one another. Most people know that being an entrepreneur means
being creative; yet, it also demands that you are able to build working
relationships that enable you to be creative with parties that directly affect your
business.
3. Does Waku have a responsibility to the region of the world that it sources its ingredients
and finds its inspiration?
a. Waku could probably use cheaper ingredients sourced from other locations, but
that would not be what makes the company so special. It is tied closely to its
Ecuadorian roots and it willingly bears the responsibility of maintaining great
relationships with its suppliers there for betterment of everyone.
Mindshift
Tell Me Your Story
1. In what ways did your chosen entrepreneur confirm your beliefs and expectations?
Sample Answer: Unique to each individual student’s interview experience.
2. In what ways did the story overturn them?
Sample Answer: Unique to each individual student’s interview experience.
3. What did you learn that was most unexpected?
Sample Answer: Unique to each individual student’s interview experience.
Instructor Manual Entrepreneurship The Practice and Mindset 2nd Heidi Neck, Christopher Neck, Emma Murray
, Neck,
Instructor Manual Entrepreneurship The Practice and Mindset 2nd Heidi Neck, Christopher Entrepreneurship
Neck, 2e
Emma Murray
SAGE Publishing, 2021
Summary Questions
1. Explain the importance of practice and action in entrepreneurship.
Practice and action make it possible to achieve success. Many of the successful entrepreneurs
behind major corporations today established their companies by acting, and intuitive decisions
enabling success were made possible by the insights gained from practicing, acting, and then
learning and reflecting.
2. List the seven lesser-known truths about entrepreneurship.
Contrary to popular belief, there is no research definitively confirming character traits of
successful entrepreneurs are inborn. Despite a disposition for action, entrepreneurs approach risk
in a much more calculated fashion than they are given credit for, and many highly successful
entrepreneurs achieve their success through collaborative actions.
3. Explain the history of entrepreneurship in the United States.
There are five main eras of entrepreneurship in the United States: Emergence of the Self-Made
Man; An Entrepreneurial Nation (1st Industrial Revolution 1776–1865); The Pinnacle of
Entrepreneurship (2nd Industrial Revolution 1865–1920); Rise of Institutional America (Interwar
and Postwar America 1920–1975); and Confined Re-Emergence (Knowledge Economy 1.0
1975–present).
4. Explore the different forms of entrepreneurship in practice today.
Corporate entrepreneurship (or intrapreneurship) is entrepreneurship within large corporations.
Inside entrepreneurs are similar to corporate entrepreneurs, but they can be found in any type of
organization, large or small, nonprofit or for-profit, and even among governing bodies.
Franchising and buy-outs are popular ways to start relatively near the ground level. Social
entrepreneurship—entrepreneurship focused on making the world a better place—is manifested
in nonprofit and large, for-profit firms alike. A form of social entrepreneurship is the benefit
corporation, or B-Corporation, which has been created to designate for-profit firms that meet
high standards of corporate social responsibility. Family enterprises, entrepreneurship started
within the family, remain a dominant form of business development in the United States and
abroad. Serial entrepreneurs are so committed to entrepreneurship that they are constantly on the
move creating new businesses.
5. Illustrate the global diversity of entrepreneurship and its impact.
There are hundreds of millions of entrepreneurs worldwide. Despite its appearance as an
entrepreneurial powerhouse, the United States is eclipsed by many world regions in terms of the
percentage of the populous engaged in entrepreneurship. Though entrepreneurs may be born out
of necessity or to exploit opportunities, they all benefit from education, financial resources,
accessible knowledge, and government support providing infrastructure that will enable the
fledgling businesses to achieve success.
6. Explore the different ways in which this book will help you practice entrepreneurship.
Instructor Manual Entrepreneurship The Practice and Mindset 2nd Heidi Neck, Christopher Neck, Emma Murray
