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I need a 200 words minimum response this evening for the following:

 

 

 

Since this course deals with understanding the entrepreneurial process, it is important to understand identify the type of opportunities available and their potential.

Many of you have noted that the idea is not enough. It takes understanding the environment, and the process and effort needed to bring the idea to market and to keep the business growing in the face of setbacks. 

 

Over the past century, we have seen the power of technology to reshape our society and make the most perfect products, and the companies that produce them obsolete.  

 

Consider:

The "buggy whip." or "Failing Like a Buggy Whip Maker?" refers to the idea that although you are making a perfect product, disruptive technology has made you product obsolete (Strossjan, 2010).

https://upload.wikimedia.org/wikipedia/commons/4/47/Phaeton_(PSF).png

What other products/companies have you seen disappear in your lifetime? What technology led to their downfall?

 

References:

Strossjan, R. (2010). Failing Like a Buggy Whip Maker? Better Check Your Simile. The New York Times. Retrieved from http://www.nytimes.com/2010/01/10/business/10digi.html?hpw

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