THE YOUNG ENTREPRENEUR PROGRAM & AWARD

APPLICATION QUESTIONS

1. Imagine that you’re the dean of your college and you’ve suggested that more
entrepreneurship courses be taught throughout your college’s curriculum. You’re getting
resistance from some professors who think that entrepreneurship is a trend. Make the
argument that entrepreneurship isn’t a trend and is an extremely important topic.

2. Suppose you were talking to a friend who told you that her father was thinking about
quitting his job to start a business in an area that he’s passionate about, but has decided
to pass on the opportunity because he just read that 9 out of 10 new businesses fail.
What would you advise your friend to tell her dad?

3. Karen Jenkins has a good job working for the city of XYZ City, ABC, but is weary of 2
percent per year pay raises. Because she has read magazine articles about young
entrepreneurs becoming extremely wealthy, she decides to start her own firm. Do you
think Karen is starting a firm for the right reason? Do you think the money she likely will
earn will disappoint her? Do you think Karen’s reason for starting a firm will contribute in
a positive manner or a negative manner to the persistence that is required to
successfully launch and run an entrepreneurial venture?

4. Mark, a friend of yours, has always had a nagging desire to be his own boss. He has a
good job with XYZ but has several ideals for new products that he can’t get XYZ
interested in. Mark has done a good job saving money over the years and has over
RM200,000 in the bank. He asks you, “Am I crazy for wanting to leave XYZ to start my
own businesses? How do I know that I have what it takes to be a successful
entrepreneur?” What would you tell him?

5. Describe someone you know who is a good candidate to be an entrepreneur and

someone who is a poor candidate.

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 THE YOUNG ENTREPRENEUR PROGRAM & AWARD

6. People are sometimes puzzled by the fact that entrepreneurs who have made millions of
ringgit still put in 60- to 80- hour weeks helping their companies innovate and grow. After
reading the chapter, why do you think millionaire and multimillionaire entrepreneurs still
get up and go to work every day? If you were one of these entrepreneurs, do you think
you would feel the same way? Why or why not?

7. You just made a trip home and are visiting with your dad. He is 56 years old and has
spent the past nine years working in various management positions for FGH. Prior to
that, he served 24 years in the Malaysian Army. Your father has always loved to fish and
has several ideas for new fishing tackle and gear. He’s made several prototypes of his
ideas and has received positive feedback from other fishermen. He wonders if he is too
old to start a firm and if his management experience and his military background will be
helpful in a new-venture context. If your dad asked you for your advice, what would you
tell him?

8. Jacob Lacy is an MBA student at a BDF school in XYZ. He has an idea to start an
Internet-based firm that will help secondary school students prepare for the SPM exam
in an innovative manner. Jacob just talked to a trusted family friend, who told him that
college is a poor time and place to launch a firm. The family friend told Jacob, “Try to
distance yourself from the college atmosphere before you start your firm.” Do you think
Jacob is getting good advice? Why or why not?

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