You have been baking as a master pastry chef for many years and have decided to open up your own pastry shop. A member of your family is able to do the management side of the business. Having never owned or started a business, both you and your family member feel that it is a good idea for both of you to study the concept of entrepreneurship, innovation, venture scripting, and opportunity recognition as advocated by Drucker, Mitchell, Schumpeter, and Vesper.
In preparation for the study, you have been asked to go over the following ideas:
What does the concept of entrepreneurship mean to you?
How does innovation relate to entrepreneurship?
How will value be created in the pastry shop?
What are the main personality characteristics of entrepreneurs?
Explain the general venturing script as it pertains to entrepreneurship.
Describe design thinking.
What are some mental blocks to departure that many potential entrepreneurs have that keep them from starting a business?
Describe tactics used to cope with and get over the blocks to departure.
Explain opportunity recognition according to Baron and Schumpeter.
Apply design thinking to the new pastry shop.
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