Important Notice: Anyone who is not able to write the exam on the scheduled date must provide documentation validating his/her absence, i.e. doctor’s note confirming illness and inability to write exam dated the day of the exam. Once documentation is received and approved by your professor, the value of your midterm will be added to your final exam. If valid documentation is not provided, the midterm mark will be a zero.
20 Multiple Choice questions
15 Short Answer questions, 2 to 6 marks each
(80 marks total)
TOPICS TO BE COVERED:
The relationship between the firm and its external environment Critical success factors: what they are, why they are important, how they connect to each other Diamond-E model: key variables, connections among variables, principal logic, examples
what it is, how to conduct one, general vs. specific environments, benefits and challenges of conducting one PEST factors: elements, impact on business, questions to answer from PEST analysis Porter’s five forces model: explanation of each force’s impact on industry profitability, methods of reducing the impact of each force, strategic questions it answers, industry examples
what it is, what the key elements are, its significance entrepreneurial process elements, influences, and connection with Diamond-E components of opportunity recognition how to screen and evaluate opportunities for viability and competitive advantage high versus low potential ventures how to access resources, bootstrapping, pros and cons of financing options social entrepreneurship: what it is, key facets, stakeholders, how it compares to traditional entrepreneurship, how it compares to charity, examples
Technological Factors opportunities and threats of technology technology standard wars – description, impact, scope installed base, lock-in, switching costs, complementary goods, network effects – description, importance, example key assets and strategies to win technology standards wars
sustaining technologies – what they offer, who they serve, examples disruptive technologies – what they offer, who they serve, examples, why disruptive innovations can cause large firms to fail, how different types of innovations challenge existing firms
tactics for small companies to succeed and for large companies to avoid failure
Citing sources and APA Formatting
-objectives, rules, methodology
Pearson Textbook: Chapters 1,2
Lab Manual:Technology Readings (directions for accessing on pg. 199)
Introduction to Writing and Using Sources
How to Use Sources
APA Documentation Style
APA In-text Citation Format
Pearson resources on citing and using APA format
Cases are not covered on the exam.
SUGGESTED STUDY APPROACH:
For each topic identify questions that may appear on the exam. These questions can fall into four general categories: 1. What is it, what are the general elements of the topic
2. Why is it important, why are the individual elements important 3. How are the individual elements related to each other? How are they related to the topic? How does the topic or its elements relate to the topics? 4. Provide an example to help explain your answers and/or illustrate the elements and topics.
YOU CAN DO IT – GOOD LUCK!!!