COMM 320 Chapter Notes - Chapter 1-10: Business Method Patent, Franchising, Joint Venture
28 Apr 2017
School
Department
Course
Professor
Document Summary
2- environment: the environment which an individual was raised in and in contact with. 4- cognitive: the ability to analyze and generate idea or benefit from surroundings. 2- are motivated only by money or financial gains. 3- turning the idea into an entrepreneurial firm and plan. 3- entrepreneurial firm: bring new products and services to market. 1- observing trends: economic forces, social forces, technological advances, political and regulatory changes. 3- finding gaps in the market place: serving a niche that no one else is serves for specific group. 2- early growth: increasing sales and awareness of the firm. 3- continuous growth: need for structure and formalization increases. 4- maturity: when growth reaches its peak, developing new products/services needed. Using these questions, perform a feasibility analysis of ______. 1- product/service feasibility: evaluate the appeal of the idea. 2- industry/market feasibility: industry attractiveness, target market attractiveness. 3- organizational feasibility: does it have enough management expertise and resources to success.
