Choose three major inventions that have led to successful products. Who were the inventors? How did they invent the technology? Why do you believe they were the first to invent this technology?
Find three examples of firms that pioneered a new product in a new market and were able to achieve long-run success based on that entry. Find three examples of firms that were not the pioneers but entered later to eventually overtake the pioneer as market leader. In your opinion, why were the successful pioneers successful, and why were the unsuccessful ones unsuccessful?
What is the failure rate of all entrepreneurs? What is the failure rate of entrepreneurs who choose to be franchisees? What inferences can you make from these numbers?
