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SB-3 Socratic Skill Builder Assignment
INSTRUCTIONS: This is a writing assignment that covers the assigned materials (readings, videos, lectures, etc.) for Week 4. Download the Skill Builder #3 assignment template (the link is found below), then write your answers directly into that template (it is a WORD file). Write a minimum of 100 words for each question. Save your changes, then rename the WORD document file as follows: LASTNAME_SB3.docx (your last name followed by an underscore, then the SB3 indication). Then upload the completed assignment to Moodle. This is a TURNITIN assignment on Moodle, which means that when you submit it, you will be submitting it to TURNITIN, and thus receive an originality report indicating possible plagiarism or cheating (there have been problems in the past with students copying the work from past students, or copying from materials previously posted on the internet). You may keep uploading versions of your assignment until you are satisfied with your TURNITIN Originality Report. Remember, you may only obtain a TURNITIN Originality Report once every 24 hours; so allow yourself plenty of time to resubmit if necessary.
For Skill Builder assignments, focus on thoughts and reasoning rather than spelling and grammar. You will NOT be penalized for incorrect spelling or improper grammar or sentence structure. This is a Socratic exercise – an opportunity for you to think and express your thoughts. This assignment is a reflection of the degree to which you are engaged in the course material, and how well you learned the topics assigned this week. The emphasis of this assignment is synthesis – the connecting of dots – where you tie together in a meaningful way (1) the assigned readings and videos, (2) current business and world events, and (3) your previous knowledge and experience. There is no correct or incorrect answer, but rather YOUR answer, based on YOUR thoughts and understanding of the material/concepts. Please avoid trying to answer what others would say, or copy what someone else has thought or written. There are three fundamental mistakes students often make on these assignments: (1) simply rambling unsupported opinions or simply listing the topics assigned this week, (2) failing to apply one’s personal perspective (i.e. writing as if it were a research paper, with no personal perspective applied), and (3) failing to incorporate all the assigned materials for the week (which demonstrates that the student decided to skip some of the readings and other assigned materials).
This assignment is protected under copyright law. Do not share this assignment with outside sources, and do not post this assignment on the internet where it may become available for future students in this course. Outside assistance of any kind and copying/sharing answers is strictly prohibited and will be considered a violation of the LSUS Code of Student Conduct, MBA Honor Code, and copyright law.
Socratic Skill Builder #3 [100 points] – upload as a “.docx file”; do not include questions, only answers
(Due Sunday July 31st by 11:59pm)
Question #1 – Business Plan Elements (answer a minimum of 100 words for this ENTIRE question – not for each element) The theme this week covers the difference between business plans and business models, and the delivery of the entrepreneurial pitch. Based on the materials this week, and your own personal experience and knowledge, describe the five most important elements of a business plan. List the FIVE elements in order of priority and place an importance factor on each element (a number 0-100, with 100 signifying an enormously important element). Many students argue that it depends on the type of venture described in the business plan, and if you believe this to be true, then select a specific type of venture, identify it, and then answer the question.
Element #1:
Element #2:
Element #3:
Element #4:
Element #5:
Question #2 – Business Models (answer a minimum of 100 words for this question) Based on the materials presented in this course, and your own personal experience and knowledge, describe why business models have become so popular – replacing business plans in so many circles.
Question #3 – BMC (answer a minimum of 100 words for this question): Describe the business model canvas (BMC), and explain the difference between BMC and the Lean Canvas. Which do you feel is more appropriate for a new venture startup (and why)?
Question #4 – Empathy (answer a minimum of 100 words for this question) Many experts argue that Empathy is the most important skill/behavior possessed by, and demonstrated by entrepreneurs when developing a business plan or business model (as well as when an entrepreneur is starting their new venture). Explain why you believe experts feel this way? Do you agree or disagree, and why?
Question #5 – Succinct Pitch (answer a minimum of 100 words for this question) Just as Dan Pink explained that a pitch is a story, a business plan and a business model is a story – an understandable story. Explain why you believe it is (or is not) important that business plans, business models, and pitches be succinct (short in duration). Why do so many experts request one-page business plans? Do you agree that a one-page plan should be preferred, and why?
Question #6 – Video Favorite (answer a minimum of 100 words for this question) This week there was a large quantity of videos (and readings) assigned to explore the process of new venture creation. Which of these videos most resonated with you in regards to business founding (or management), and why?
Question #7 – Team Assessment (answer a minimum of 100 words for this question) Assess the contribution of each team member this past week (since your last Skill Builder). Last week you assessed them for the first three weeks of the semester. Now you will assess their contribution for ONLY this past week (since you last assessed them). Same questions from last week apply. How exactly have they each contributed, and how valuable have their contributions been? What needs to be done to make your team work more effectively and perform better? Compared to other team members, what is the value of your contribution this past week?
