Entrepreneurship Teaching Methods

What is the primary change in how entrepreneurship is taught, as mentioned in the text?

• Focusing more on academic business plans

• Switching from academic business plans to customer discovery fieldwork

• Emphasizing the use of canvas models exclusively

• Prioritizing the creation of 'Reading' slide decks

According to the text, what is the purpose of a business plan for entrepreneurs?

• To serve as a blueprint for building a company

• To provide a template for website design

• To outline the company's exit strategy

• To serve as a script for sales pitches

What has historically been the necessity for most entrepreneurs, especially those seeking financing?

• A detailed marketing plan

• A 'Reading' slide deck

• A business plan

• A customer discovery report

What is a common practice for entrepreneurs when preparing presentation software decks?

• They always use the full deck of 20-40 slides

• They select specific slides for presentation purposes

• They create a new deck for each presentation

• They avoid using any slides to maintain audience engagement

What is the primary purpose of a business plan according to the text?

• To provide a step-by-step procedure for starting a business

• To outline the responsibilities of the company's fiduciary rights

• To attract the optimum marketing, operations, management team, and financing

• To compare and contrast the business's future with its initial goals

Which of the following is NOT one of the "four Ps" mentioned in the text?

• Product

• Price

• Placement

• Performance

What did Dr. Nikolay Shkolnik receive in 1984?

• A PhD from the University of Connecticut

• An MS from Kiev Polytechnic

• The Motorola Award for Creativity

• A senior membership at GEN3 Partners

What was the main challenge faced by Brian when working on the new engine concept?

• Solving complex engineering problems

• Identifying which markets to enter first

• Securing a partner in the VC firm Adams Capital

• Winning the annual MIT $50K business planning competition

How much prize money did the team win in the MIT $50K business planning competition?

• $10,000

• $12,500

• $50,000

• $100,000

What was the main purpose of writing a business plan according to the text?

• To create a document to put on a shelf

• To test the viability of the business idea and set a path for the entrepreneur to follow

• To guarantee the business will accumulate over $22.6 million in funding

• To ensure the business plan is read in detail by investors