Question

neil blumenthal and dave gilboa demonstrated the entrepreneurial mindset of critical thinking and problem solving by using a process. put the steps they took in the correct order.

• they sold glasses online, which included their buy a pair, give a pair promotion.
• they created a business model that reduced the high markup in distribution channel.
• they researched the root cause of the high price of eyeglasses to consumers.
• they identified the problem that eyeglasses were unaffordable to millions of people.

they identified the problem that eyeglasses were unaffordable to millions of people.
they researched the root cause of the high price of eyeglasses to consumers.
they identified the problem that eyeglasses were unaffordable to millions of people.
they created a business model that reduced the high markup in distribution channel.

incorrect.
neil blumenthal and dave gilboa examined the problem of unaffordable glasses and discovered the root cause in the delivery chain. they were then able to create a business model to cut out the middle man and sell directly to customers while also supporting a charitable cause.

Explanation:

To solve this, we analyze the entrepreneurial process steps:

1. Identify the problem: First, recognize the issue (eyeglasses unaffordable to millions).
2. Research root cause: Investigate why (high price due to distribution markup).
3. Create business model: Develop a model to reduce markup (e.g., “buy a pair, give a pair” + direct sales).
4. Sell online: Implement the model by selling online.

Let’s match the options to this order:

• Step 1: “They identified the problem that eyeglasses were unaffordable to millions of people.”
• Step 2: “They researched the root cause of the high price of eyeglasses to consumers.”
• Step 3: “They created a business model that reduced the high markup in distribution channel.” (or the “buy a pair, give a pair” option, but the markup - focused model is about addressing the root cause’s solution)
• Step 4: “They sold glasses online, which included their ‘buy a pair, give a pair’ promotion.”

Wait, re - evaluating the options:

The correct order of steps in problem - solving for entrepreneurship is:

1. Identify the problem (eyeglasses unaffordable to millions).
2. Research the root cause (high price from distribution markup).
3. Create a business model to solve it (reduce markup, “buy a pair, give a pair” + online sales model).
4. Sell the product (online sales with promotion).

So the correct sequence of the four options (from the vertical list) should be:

1. “They identified the problem that eyeglasses were unaffordable to millions of people.”
2. “They researched the root cause of the high price of eyeglasses to consumers.”
3. “They created a business model that reduced the high markup in distribution channel.”
4. “They sold glasses online, which included their ‘buy a pair, give a pair’ promotion.”

If we consider the other “identify problem” option (the one with “to consumers”), that’s about the effect on consumers, but the first “identified problem” (unaffordable to millions) is the broader problem recognition. The “researched root cause of high price to consumers” is about why it’s unaffordable. Then creating the model to reduce markup, then selling online.

So the correct order of the steps (the four vertical options) is:

1. They identified the problem that eyeglasses were unaffordable to millions of people.
2. They researched the root cause of the high price of eyeglasses to consumers.
3. They created a business model that reduced the high markup in distribution channel.
4. They sold glasses online, which included their “buy a pair, give a pair” promotion.

If we have to pick the correct sequence from the given options (the four vertical ones), this is the logical order.

Answer:

To solve this, we analyze the entrepreneurial process steps:

1. Identify the problem: First, recognize the issue (eyeglasses unaffordable to millions).
2. Research root cause: Investigate why (high price due to distribution markup).
3. Create business model: Develop a model to reduce markup (e.g., “buy a pair, give a pair” + direct sales).
4. Sell online: Implement the model by selling online.

Let’s match the options to this order:

• Step 1: “They identified the problem that eyeglasses were unaffordable to millions of people.”
• Step 2: “They researched the root cause of the high price of eyeglasses to consumers.”
• Step 3: “They created a business model that reduced the high markup in distribution channel.” (or the “buy a pair, give a pair” option, but the markup - focused model is about addressing the root cause’s solution)
• Step 4: “They sold glasses online, which included their ‘buy a pair, give a pair’ promotion.”

Wait, re - evaluating the options:

The correct order of steps in problem - solving for entrepreneurship is:

1. Identify the problem (eyeglasses unaffordable to millions).
2. Research the root cause (high price from distribution markup).
3. Create a business model to solve it (reduce markup, “buy a pair, give a pair” + online sales model).
4. Sell the product (online sales with promotion).

So the correct sequence of the four options (from the vertical list) should be:

1. “They identified the problem that eyeglasses were unaffordable to millions of people.”
2. “They researched the root cause of the high price of eyeglasses to consumers.”
3. “They created a business model that reduced the high markup in distribution channel.”
4. “They sold glasses online, which included their ‘buy a pair, give a pair’ promotion.”

If we consider the other “identify problem” option (the one with “to consumers”), that’s about the effect on consumers, but the first “identified problem” (unaffordable to millions) is the broader problem recognition. The “researched root cause of high price to consumers” is about why it’s unaffordable. Then creating the model to reduce markup, then selling online.

So the correct order of the steps (the four vertical options) is:

1. They identified the problem that eyeglasses were unaffordable to millions of people.
2. They researched the root cause of the high price of eyeglasses to consumers.
3. They created a business model that reduced the high markup in distribution channel.
4. They sold glasses online, which included their “buy a pair, give a pair” promotion.

If we have to pick the correct sequence from the given options (the four vertical ones), this is the logical order.