Unit II Discussion Board Please make sure that it is your own work and not copy and paste off of someone else work. Please read the study guide. Please wat

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Please make sure that it is your own work and not copy and paste off of someone else work. Please read the study guide. Please watch out for spelling and grammar errors. Please use the APA 7th edition.

Book Reference: Neck, H. M., Neck, C. P., & Murray, E. L. (2021). Entrepreneurship: The practice and mindset (2nd ed). SAGE. https://online.vitalsource.com/#/books/9781544354644

After reading this unit’s material, do you believe you have a fixed mindset or a growth mindset? Provide an example that supports your identified mindset. What additional actions could you take to develop or further enhance a growth mindset?

BUS 8303, Entrepreneurship and Innovative Business Development 1

Course Learning Outcomes for Unit II

Upon completion of this unit, students should be able to:

2. Analyze the role of an entrepreneurial mindset in opportunity recognition.
2.1 Appraise the effectiveness of an entrepreneurial mindset.
2.2 Summarize how to develop the habit of creativity.
2.3 Compare/contrast the types of entrepreneurship with an entrepreneurial mindset.

Course/Unit
Learning Outcomes

Learning Activity

2.1

Unit Lesson
Chapter 2
Article: “Entrepreneurial Mindset: An Empirical Starting Point”
Unit II Essay

2.2

Unit Lesson
Chapter 2
Student Resource: Challenge and Creativity
Unit II Essay

2.3
Unit Lesson
Chapter 2
Unit II Essay

Required Unit Resources

Chapter 2: Activating an Entrepreneurial Mindset

In order to access the following resources, click the links below.

Lynch, M., Tuema, L., Andersson, G., & Steinert, M. (2017). Entrepreneurial mindset: An empirical starting

point. Proceedings of ISPIM Conferences, 1–12.
https://libraryresources.columbiasouthern.edu/login?url=https://search.ebscohost.com/login.aspx?direct=
true&db=bsu&AN=127132275&site=ehost-live&scope=site

Navigate to the Video and Multimedia area in Student Resources for Chapter 2 of the eTextbook to view the
item listed below.

• Challenge and Creativity

Unit Lesson

Entrepreneurial Mindset

In Unit I, seven types of entrepreneurs or approaches for becoming an entrepreneur were discussed,
including corporate entrepreneurship (most often referred to as intrapreneurship), entrepreneurship inside
(working within an organization adding creative and innovative ideas), franchising, buying a small business,
social entrepreneurship, family entrepreneurship, and serial entrepreneurship. We discussed how different
business models fit these different types of entrepreneurs. Remember, the term business model describes
how the enterprise provides a value proposition to the end user, which results in revenue for the enterprise
and entrepreneurial team members. Even selecting the type of approach for becoming an entrepreneur and
selecting a business model can represent creativity and innovation in entrepreneurship, two topics introduced

UNIT II STUDY GUIDE

Entrepreneurial Mindset

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in this unit. As you read the material for Unit II, continue practicing the techniques covered in Unit I. Resist
thinking in a closed-minded manner; instead, be open to new approaches, new ideas, and new habits of
thinking and exploring.

Entrepreneurship is about taking an action toward creating something new, different, or unique.
Entrepreneurial ventures frequently start with a focus on solving a problem that was either never identified as
a problem or identifying a problem and providing a solution. An entrepreneurial action can include new
processes or procedures or combining old methods into a new configuration for a unique approach that has
not been developed. The example of Franklin Yancey in Chapter 2 of the eTextbook fits with this definition of
entrepreneurial action. In the scenario, people either did not recognize it as a problem or just accepted that
stadium seats were uncomfortable or unpleasant.

An entrepreneurial mindset describes how we see our world, what we pay attention to, how we interpret our
surroundings, and how we react to our surroundings. An entrepreneurial mindset is a focus on continuously
seeking out ideas and problems that need a solution and being aware of the possibility for change and
improvements. An entrepreneurial mindset is about paying attention to your external environment to notice
the potential in new ideas and the potential for solving a problem that other people either do not notice or
have no interest in solving.

Consider how difficult a suitcase would be to maneuver if it did not have wheels attached to the suitcase.
Going back to the 1970s, the goal of luggage companies was to make the suitcase indestructible to protect
the items within the suitcase, but Bernard Sadow recognized the difficulty people had in lugging around their
suitcase by lifting the weight of the suitcase by the handle (Sharkey, 2010). In his eureka, or aha moment, he
made the connection between two disparate ideas, the wheel, and the suitcase, to invent the rolling suitcase,
making our lives much easier (Sharkey, 2010). To protect his idea, Sadow patented the idea:

Whereas formerly, luggage would be handled by porters and be loaded or unloaded at points
convenient to the street, the large terminals of today, particularly air terminals, have increased the
difficulty of baggage-handling… Baggage-handling has become perhaps the biggest single difficulty
encountered by an air passenger. (Sharkey, 2010, p. 1)

Taking the legal action of filing for a patent protected his idea, knowing that there would be a delay between
identifying this problem and the actual acceptance and commercialization of the product he was developing.
Consider the millions of people who carried their luggage but never once thought about how to make carrying
it easier. Bernard Sadow’s entrepreneurial mindset was alert to identifying a problem, the awkwardness and
difficulty of carrying luggage by the handle, and then identifying a solution. Luggage just needed wheels.

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Entrepreneurial Mindset Characteristics

(University Industry Innovation Network, n.d.)

Above is an image describing six characteristics of the entrepreneurial mindset, although there are other
characteristics beyond this list such as an interest in problem solving, being open minded in terms of seeking
out new information and experiences, and a general curiosity about the world.

A few entrepreneurial characteristics related to the example is the need for Sadow to be persistent as he met
resistance from the established norm that men (the primary travelers through airports at that time) were too
macho to use a rolling suitcase (Sharkey, 2010). A favorable evolution in travelers helped to support the
timing of his new product, in that women were starting to travel more (Sharkey, 2010). As the idea of rolling
suitcases become more prevalent as used by flight attendants and women travelers, men soon adopted the
ease and convenience of rolling their suitcases through airports (Sharkey, 2010). Now, we seldom see a
suitcase that is not on wheels. Sadow was future-oriented in recognizing that the travel industry was changing
away from porters and small airports mostly populated by men to large airports that required walking long
distances, a great inconvenience for carrying one or more suitcases.

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Along with persistence, another behavior associated with entrepreneurs is passion. Passion inspires the
entrepreneur to continue, even when faced with adversity. Adversity can take the form of rejection or even a
closed or fixed mindset that places blocks of negativity in the entrepreneur’s mind and consequently
decreases or eliminates the passion. Passion does not mean ignoring advice or stubbornly pushing forward
but, rather, seeking out information, addressing challenges, and adjusting as needed, a growth mindset of
taking ownership to solve problems and remove hurdles blocking the forward process.

The act of applying creative ideas into a marketable product is innovation. We use our creative abilities and
an entrepreneurial mindset to create innovation, which is the act of manifesting a new product or process and
moving from the conceptual application of creativity into the materialization of these efforts into a commercial
success.

Opportunity Recognition

Creativity is an inherent part of an entrepreneurs’ mindset. One technique that increases creativity is using
disparate thinking. The idea is that creative thinking kicks in when we stop thinking of one problem and move
into thinking about another topic, or practice disparate thinking. Instead of learning about only one subject
area, dive into other topics to gain exposure to a variety of areas. From an entrepreneurial perspective, the
crossover from divergent topics can lead back to merging information from one field of study into a different
field of study. Practicing disparate thinking might seem complicated to understand; let’s look at an example to
explain this concept. What is the connection between dog burrs, engineering, and Velcro? Certainly, these
are disparate areas that seem completely unrelated to each other. However, George de Mestral found the
burrs that stuck to his dog’s fur interesting, especially when examined under a microscope. After noticing how
effectively the structure of the hooks of the burr adhered to the loops of fur, he created the Velcro company in
1959 (Chandiramani, 2016). This action of noticing the structure of the burrs is called opportunity recognition,
recognizing that an opportunity exists to move from the idea into a marketable product, a product or service
that provides a solution to a problem, even if no one previously realized there was a problem. Opportunity
recognition can include creating a solution that adds value through saving time such as using Velcro instead
of tying one’s shoes.

Consider how you can add the skills covered in this course into your daily life. Look for opportunities to grow
your mindset to be more observant and see the positive potentials swirling around you in your daily activities.

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Interactive Activity

In order to check your understanding of
concepts from this unit, complete the Unit II
Knowledge Check activity.

Unit II Knowledge Check

PDF version of the Unit II Knowledge Check

Note: Be sure to maximize your internet
browser so that you can view each individual
lesson on a full screen, ensuring that all content
is made visible.

Remember, this is a nongraded activity.

References

Chandiramani, S. (2016, October 28). Biomimicry – The burr and the invention of Velcro. Micro Photonics Inc.

https://www.microphotonics.com/biomimicry-burr-invention-
velcro/#:~:text=Velcro%20was%20invented%20by%20George,burr%20to%20adhere%20exceedingly
%20well

Sharkey, J. (2010, October 5). Reinventing the suitcase by adding the wheel. The New York Times.

https://www.nytimes.com/2010/10/05/business/05road.html

University Industry Innovation Network. (n.d.). The six characteristics of the entrepreneurial mindset [Graphic].

The Six Characteristics of the Entrepreneurial Mindset

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Suggested Unit Resources

In order to access the following resource, click the link below.

The article below provides relevant information to support your growth in learning about entrepreneurship and
how to support innovative behavior within an organization.

Moore, C. B., McIntyre, N. H., & Lanivich, S. E. (2021). ADHD-related neurodiversity and the entrepreneurial

mindset. Entrepreneurship: Theory & Practice, 45(1), 64–91. https://doi-
org.libraryresources.columbiasouthern.edu/10.1177/1042258719890986

Learning Activities (Nongraded)

Nongraded Learning Activities are provided to aid students in their course of study. You do not have to submit
them. If you have questions, contact your instructor for further guidance and information.

In order to access the following resource, click the link below.

• Create a file with new insights you gain throughout this course in reading the eTextbook and articles
and completing the course work. Please use the CSU online library to explore a variety of topics on
entrepreneurship to build your own library of knowledge.

• While reading the first two chapters of the eTextbook, take a few minutes to complete the activities
included in the eTextbook. Completing the activities may be a sign that you have a growth mindset
rather than a fixed mindset.

• Utilize the following Chapter 2 Flashcards to review terminology from the eTextbook.

  • Course Learning Outcomes for Unit II
  • Required Unit Resources
  • Unit Lesson
    • Entrepreneurial Mindset
    • Entrepreneurial Mindset Characteristics
    • Opportunity Recognition
    • Interactive Activity
    • References
  • Suggested Unit Resources
  • Learning Activities (Nongraded)

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