Part A-
1. How do entrepreneurial opportunities differ from ideas? What are the implications of not ensuring that an actual entrepreneurial opportunity exists for one's new venture prior to committing resources into developing that venture?
2. Describe how differing types of social networks impact opportunity recognition (i.e., solo vs. network entrepreneurs, strong-ties vs. weak ties, and structural holes).
Part B-
1. Explain the major considerations that should be considered by a new venture when setting prices.
2. Explain sustainable competitive advantage in the context of new ventures. How is this advantage derived? What are the implications for a new venture that does not establish one (or, does not develop a strategy to establish one); and, How do these implications contrast with those of a new venture that does/will establish one?