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1.3 Exploring Entrepreneurship Your responses should be thoughtful and in paragraph form. Remember, proper spelling punctuation, capitalization and grammar is expected-2 points each 1. What product or service will you provide? 2. How will this product or service fill a demand, need, want or scarcity? 3. Is this demand, need, want or scarcity local, regional or global? 4. Is there a particular target customer? Ifso, what characteristics does this target customer portray? 5. What uncertainties do you anticipate? a. Known risks b. Economic ambiguities: c. True uncertainties: What plan do you have for minimizing these uncertainties? Given the general challenges faced by all entrepreneurs detailed in the lesson, how do 6. 7. you plan to manage/overcome some of these obstacles? a- Challenge #1 : b. Management strategy #1: c. Challenge #2: d. Management strategy #2: What short-term and long-term positive impacts can you imagine your product, service or financial gain having on a community, region or the entire world? 8. 9. How does your product or service impact others? 10. How could you use your new-found fame and fortune to help others? Are you struggle with ideas? Try doing some Internet research on the philanthropic activities of people like Bill Gates, Steve Jobs, and/or Elon Musk)
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