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1. 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?
The telephone: Alexander Graham Bell built the first telephone in 1875. In
1870s Elisha Gray and Alexander Graham Bell both invented the telegraph
and it was Bell who eventually register his discovery as the first one. Telephone
was discovered in an attempt to improve the telegraph. Bells success in
telephone was an early interest in the formation of sounds and his attempts to
improve the telegraph. He experimented with his harmonic telegraph and
conceived the idea for sending speech over an electric wire.
(inventors.about.com)
Television: Television was invented in 1884 by Paul Nipkow as a result of some
images which were sent over wires using a rotating metal disk technology with
eighteen lines of resolution. Television evolution was based on mechanical and
electronic assumptions of Nipkow's rotating disks and cathode ray tube
respectively.(inventors.about.com)
The Automobile: The French mechanic Nicolas Joseph Cugnot invented the first
self-propelled road vehicle in 1769. It was a steam-powered model. But it was
Karl Benz in 1885 who first built practical automobile to be powered by an
internal combustible engine.(inventors.about.com)
So we can conclude that most of the inventions are done because of the need of
the inventor or desire to solve the problems. On the other hand in the quest to
invent something else some other things were invented accidentally.
2. 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?
Ans: According to the statistics of Bloomberg 80% of the entrepreneurs fails
within the one and half years of the start of their business
(forbes.com).Moreover 8 out of 10 entrepreneurs fails within the initial period of
the start of the business. But on the other hand failure rate for entrepreneurs
operating franchisees are relatively very low of around 8% .So what we can
conclude is that the entrepreneurs are certain to fail with higher percentage
than the franchisees.
3. Is it a waste of time to detail the firms strategy in the business plan when the
audience for that plan (e.g., venture capitalist) knows that things are not going
to turn out as expected and, as a result, place considerable importance on the
quality of the management team? Why not submit only the resumes of those in
the management team? If you were a venture capitalist, would you want to see
the business plan? How would you assess the quality of one management team
relative to another?
Ans: Planning is utmost for any business to succeed or cope with the exiting
competition to reach the summit of success. Although it cannot be executed

thoroughly, minor modification and improvising will definitely serve to reaching


the desired results provided that we can stick with our strategy, which is well
known by the entrepreneur and the investors. Submitting the resumes of
management team alone cannot fulfil, assure and guarantee the desired
destination and the desired outcomes and without which there is no hope for
investors to invest.
Yes, of course I would love to see the business plan if I were an investor. I would
keep a close eye on the idea and unique feature of the product and the way to
make it accessible to the market. and also providing it on reasonable rate to
advertise the product and the brand so that it can be beneficial in a long run.
Also I would like to highlight the factors causing the problems and their remedial
measures to achieve success.
4. Obtain a patent of a technology (e.g., go to the patent office Web site) and
come up with 10 creative uses of the technology
Ans: I found Remote Sensing Satellites as patent granted as right. The 10
creative use of technology are as given bellows:
1.Observing our environment from the distance.
2.Measuring our environment from distance.
3.Usually put into the space.
4.Monitor the resources important for human being.
5.It can track animal migration and locate mineral deposit.
6.It can take photograph of huge mass of the land.
7.It can monitor area of harsh climate.
8.It can monitor the inaccessible land around the globe.
9.It can watch crops of weather damage.
10.It can track the deforestation rate.
5. Choose three different products that you might be interested in purchasing
and that are sold on the Internet. For each product, visit three Web sites and go
through the process as if you were going to actually purchase the product. Which
Web site was the best? Why? Which was the worst? Why? If you could create the
perfect Web site, what features would it have?
Ans: The three different products that I am interested in purchasing are sun
glasses, sports shoes and bags.
I visited different websites which are enlisted below:
https://www.net-a-porter.com/
http://www.macys.com/

https://www.theoutnet.com/en-AU/
As I went through all the above mentioned online shopping websites I found neta-porter the best website for online shopping. Net-A-Porter is one of the worlds
premier luxury fashion destination as it offers a wide variety of shopping stuffs
ranging from lower to higher prices and also provides it at a reasonable price. It
has the best customer service around the globe and shipping its product in more
than 170 countries of the world. More over the services to the customer is also
fast when we buy something online.
Among all three I found macys the worst because the items were limited on that
online stores. The
price was also not reasonable according to the quality of
the product among the two enlisted shopping sites .It does not offer the product
around the globe and has limited service around some part of it states. The
outnet was similar to the net-a-porter as it was launched by the net-a-porter.
If I could create perfect website then I would include various information like
detail of the product, product list sorting from lower range of prices to higher,
various techniques of purchasing ,provision for the exchange within certain days
limit and minor adjustment in the price.

REFRENCE
MASON, M. K., 2015. MOYAK. [Online] Available at:
http://www.moyak.com/papers/franchising-failures.html
https://www.google.com/patents/CN103954297B?
dq=Remote+Sensing+satellites&cl=en
https://www.shoretel.com/content/alexander-graham-bell-and-history-telephone