New User Special Price Expires in

Let's log you in.

Sign in with Facebook


Don't have a StudySoup account? Create one here!


Create a StudySoup account

Be part of our community, it's free to join!

Sign up with Facebook


Create your account
By creating an account you agree to StudySoup's terms and conditions and privacy policy

Already have a StudySoup account? Login here

Study guide for exam 2

by: kaitlynv

Study guide for exam 2 MGMT 310

GPA 3.5
Entrepreneurship and Innovation
Andreea Kiss

Almost Ready


These notes were just uploaded, and will be ready to view shortly.

Purchase these notes here, or revisit this page.

Either way, we'll remind you when they're ready :)

Preview These Notes for FREE

Get a free preview of these Notes, just enter your email below.

Unlock Preview
Unlock Preview

Preview these materials now for free

Why put in your email? Get access to more of this material and other relevant free materials for your school

View Preview

About this Document

Entrepreneurship and Innovation
Andreea Kiss
Study Guide
50 ?




Popular in Entrepreneurship and Innovation

Popular in Business, management

This 8 page Study Guide was uploaded by kaitlynv on Sunday October 25, 2015. The Study Guide belongs to MGMT 310 at Iowa State University taught by Andreea Kiss in Summer 2015. Since its upload, it has received 33 views. For similar materials see Entrepreneurship and Innovation in Business, management at Iowa State University.

Similar to MGMT 310 at ISU

Popular in Business, management


Reviews for Study guide for exam 2


Report this Material


What is Karma?


Karma is the currency of StudySoup.

You can buy or earn more Karma at anytime and redeem it for class notes, study guides, flashcards, and more!

Date Created: 10/25/15
MGMT 310 Kiss Exam 2 Ch 6 7 12 8 10 CHAPTER 6 DEVELOPING AN EFFECTIVE BUSINESS MODEL LEARNING OBJECTIVES Describe a business model Explain business model innovation Discuss the importance of having a clearly articulated business model Discuss the concept of the value chain Identify a business model s two potential fatal aws Identify a business model s four major components Explain the meaning of the term business concept blind spot Define core competency and describe its importance Explain the concept of supply chain management 0 Explain the concept of fulfillment and support quotF SX NQP PP PE 1 Business Models A The Importance and Diversity of Business Models 1 Importance of Business Models 2 Diversity of Business Models B How Business Models Emerge C Potential Fatal Flaws of Business Models 11 Components of an Effective Business Model A Core Strategy 1 Mission Statement 2 ProductMarket Scope 3 Basis for Differentiation B Strategic Resources 1 Core Competencies 2 Strategic Assets Chapter 1 Introduction to Entrepreneurship C Partnership Network 1 Suppliers 2 Other Key Relationships D Customer Interface 1 Target Market 2 Fulfillment and Support 3 Pricing Structure CHAPTER 7 PREPARING A PROPER ETHICAL AND LEGAL FOUNDATION LEARNING OBJECTIVES p x 9 9 ng 10 I Describe how to create a strong ethical culture in an entrepreneurial venture Explain the importance of leading by example in terms of establishing a strong ethical culture in a firm Explain the importance of having a code of conduct and an ethics training program Explain the criteria important to selecting an attorney for a new firm Discuss the importance of a founder s agreement Provide several suggestions for how entrepreneurial firms can avoid litigation Discuss the importance of nondisclosure and noncompete agreements Provide an overview of the business licenses and business permits that a startup must obtain before it starts conducting business Discuss the differences among sole proprietorships partnerships corporations and limited liability companies Explain why most fastgrowth entrepreneurial ventures organize as corporations or limited liability companies rather than sole proprietorships or partnerships Initial Ethical and Legal Issues Facing a New Firm A Establishing a Strong Ethical Culture for a Firm 1 Lead by Example 2 Establish a Code of Conduct MGMT 310 Kiss II III 3 Implement an Ethics Training Program B Choosing an Attorney for a Firm C Drafting a Founders Agreement D Avoiding Legal Disputes 1 Meet All Contractual Obligations 2 Avoid Undercapitalization 3 Get Everything in Writing 4 Set Standards Obtaining Business Licenses and Permits Business Licenses Business Permits Choosing a Form of Business Ownership Sole Proprietorships Partnerships 1 General Partnerships 2 Limited Partnerships Corporations 1 C Corporation 2 Subchapter S Corporation Limited Liability Companies CHAPTER 12 Exam 2 Ch 6 7 12 8 10 Chapter 1 Introduction to Entrepreneurship THE IMPORTANCE OF INTELLECTUAL PROPERTY LEARNING OBJECTIVES p x 9 H990 ng II III Define the term intellectual property and describe its importance Discuss the four major forms of intellectual property patents trademarks copyrights and trade secrets Specify the rules of thumb for determining Whether a particular piece of intellectual property is worth the time and expense of protecting Describe the sixstep process for obtaining a patent Identify the four types of trademarks Identify the types of material that are eligible for copyright protection Discuss the legal environment that facilitates trade secret protection Identify the most common types of trade secret disputes Describe some of the physical measures that firms take to protect their secrets Explain the two primary reasons for conducting an intellectual property audit The Importance of Intellectual Property Determining What Intellectual Property to Legally Protect B The Four Key Forms of Intellectual Property Patents Types of Patents B Who Can Apply for a Patent C The Process of Obtaining a Patent Patent Infringement Trademarks The Four Types of Trademarks B What Is Protected Under Trademark Law C Exclusions from Trademark Protection The Process of Obtaining a Trademark MGMT 310 Kiss IV B C VI A B Exam 2 Ch 6 7 12 8 10 Copyrights What Is Protected by a Copyright Exclusions from Copyright Protection How to Obtain a Copyright Copyright Infringement Copyrights and the Internet Trade Secrets What Qualifies for Trade Secret Protection Trade Secret Disputes Trade Secret Protection Methods Conducting an Intellectual Property Audit Why Conduct an Intellectual Property Audit The Process of Conducting an Intellectual Property Audit CHAPTER 8 ASSESSING A NEW VENTURE S FINANCIAL STRENGTH AND VIABILITY LEARNING OBJECTIVES NQP PPPE Explain the two functions of the financial management of a firm Identify the four main financial objectives of entrepreneurial ventures Explain the difference between historical and pro forma financial statements Explain the purpose of an income statement Explain the purpose of a balance sheet Explain the purpose of a statement of cash ows Discuss how financial ratios are used to analyze and interpret a firm s financial statements Chapter 1 Introduction to Entrepreneurship 8 Discuss the role of forecasts in projecting a firm s future income and expenses 9 Explain What a completely new firm bases its forecasts on 10 Explain What is meant by the term percent of sales method I Introduction to Financial Management A Financial Objectives of a Firm 1 Profitability 2 Liquidity 3 Efficiency 4 Stability B The Process of Financial Management 11 Financial Statements and Forecasts A Historical Financial Statements 1 Income Statement 2 Balance Sheet 3 Statement of Cash Flows 4 Ratio Analysis 5 Comparing a Firm s Financial Results to Industry Norms B Forecasts 1 Sales Forecast 2 Forecast of Cost of Sales and Other Items 111 Pro Forma Financial Statements A Pro Forma Income Statement B Pro Forma Balance Sheet MGMT 310 Kiss Exam 2 Ch 6 7 12 8 10 C Pro Forma Statement of Cash Flows D Ratio Analysis CHAPTER 10 GETTING FUNDING OR FINANCING LEARNING OBJECTIVES Explain Why most entrepreneurial ventures need to raise money at some point during their early life 2 Identify the three sources of personal financing available to entrepreneurs 3 Provide examples of how entrepreneurs bootstrap to raise money or cut costs 4 Identify the three steps involved in properly preparing to raise debt or equity financing 5 Discuss the difference between equity funding and debt financing 6 Explain the role of an elevator speech in attracting financing for an entrepreneurial venture 7 Describe the difference between a business angel and a venture capitalist 8 Explain Why an initial public offering IPO is an important milestone in an entrepreneurial venture 9 Discuss the SBA Guaranteed Loan Program 10 Explain the advantages of leasing for an entrepreneurial venture CHAPTER OUTLINE The Importance of Getting Financing or Funding A Why Most Ventures Need Funding Chanter 1 Introduction to Entrepreneurship II III IV Sources of Personal Financing Preparing to Raise Debt or Equity Financing Sources of Equity Funding Business Angels Venture Capital Initial Public Offering Sources of Debt Financing Commercial Banks SBA Guaranteed Loans Other Sources of Debt Financing Creative Sources of Financing and Funding Leasing SBIR and STTR Grant Programs Other Grant Programs Strategic Partners


Buy Material

Are you sure you want to buy this material for

50 Karma

Buy Material

BOOM! Enjoy Your Free Notes!

We've added these Notes to your profile, click here to view them now.


You're already Subscribed!

Looks like you've already subscribed to StudySoup, you won't need to purchase another subscription to get this material. To access this material simply click 'View Full Document'

Why people love StudySoup

Jim McGreen Ohio University

"Knowing I can count on the Elite Notetaker in my class allows me to focus on what the professor is saying instead of just scribbling notes the whole time and falling behind."

Allison Fischer University of Alabama

"I signed up to be an Elite Notetaker with 2 of my sorority sisters this semester. We just posted our notes weekly and were each making over $600 per month. I LOVE StudySoup!"

Bentley McCaw University of Florida

"I was shooting for a perfect 4.0 GPA this semester. Having StudySoup as a study aid was critical to helping me achieve my goal...and I nailed it!"

Parker Thompson 500 Startups

"It's a great way for students to improve their educational experience and it seemed like a product that everybody wants, so all the people participating are winning."

Become an Elite Notetaker and start selling your notes online!

Refund Policy


All subscriptions to StudySoup are paid in full at the time of subscribing. To change your credit card information or to cancel your subscription, go to "Edit Settings". All credit card information will be available there. If you should decide to cancel your subscription, it will continue to be valid until the next payment period, as all payments for the current period were made in advance. For special circumstances, please email


StudySoup has more than 1 million course-specific study resources to help students study smarter. If you’re having trouble finding what you’re looking for, our customer support team can help you find what you need! Feel free to contact them here:

Recurring Subscriptions: If you have canceled your recurring subscription on the day of renewal and have not downloaded any documents, you may request a refund by submitting an email to

Satisfaction Guarantee: If you’re not satisfied with your subscription, you can contact us for further help. Contact must be made within 3 business days of your subscription purchase and your refund request will be subject for review.

Please Note: Refunds can never be provided more than 30 days after the initial purchase date regardless of your activity on the site.