Final Exam Questions:
1. Your two good friends, Wilber and Orville Wright, have just developed a working prototype of a flying machine. Even though the thing flew only a few feet, Wilber and Orville are excited about the potential. They have come to you, a site locator, to help them find a site to begin manufacturing and developing the new technology. A place that encourages high-tech entrepreneurship is needed (notice that special criteria maybe needed for a high-tech firm as well as the criteria for any manufacture).
a. Develop a list of criteria they should use to select the site.
b. Explain why each item on the list is important. (25pts.)
2. A couple of years have passed and that crazy flying machine is really “taking off” (no pun intended). Wilber and Orville, however, are afraid that others like the nosy neighbor, Bill Boeing, may steal the technology.
a. Explain to them their options for protecting the invention.
b. Recommend and justify which option you think is best. (Make sure all options are available considering the option’s requirements.) (25pts.)
3. The Wright brothers need help with their expanding business. They are considering developing an entrepreneurial team and have come to you for advice.
a. Explain to them what they should look for in potential team members.
b. Develop a list of items that should be included in the team formation contract
c. and explain why each item should be included. (25pts.)
4. It’s been about ten years since Wilber and Orville first flew the prototype. Now the entrepreneurial team is in place and production is flying high. The demand for the product is continuing to increase even though there is some resistance to the technology. Several overseas customers have expressed interest and it appears that the brothers may want to go global.
a. Explain to them the options they have for going global
b. and make a recommendation you think is appropriate.
c. Explain why you recommended the option. (25pts.)